Publications List

7 Publications
Applied Filters: First Letter Of Title: L Reset
Journal Article
A law prohibiting a particular behavior does not directly change the payoff to an individual should he engage in the prohibited behavior. Rather, any change in the individual's payoff, should he engage in the prohibited behavior, is a consequence of changes in other peoples' behavior. If laws do not directly change payoffs, they are "cheap talk,"…
Journal Article
We estimate the effect of new private-sector unionization on publicly traded firms' equity value in the United States over the 1961-1999 period using a newly assembled sample of National Labor Relations Board (NLRB) representation elections matched to stock market data. Event-study estimates show an average union effect on the equity value of the…