MONOPOLY® PRICING

There is a large and rich literature in economics on monopoly pricing. However, a close examination of this literature reveals a surprising gap: there have been virtually no studies of Monopoly^® pricing. We fill that void with an empirical examination of the pricing of the board game Monopoly^®. In particular, we examine market‐level, quarterly prices from 1990 to 2002 and find substantial evidence of the phenomenon of customary pricing. (JEL L83, L1, L12, Z11, D42)     

WHITE REACTIONS TO BLACK CANDIDATES: WHEN DOES RACE MATTER?

This paper examines the role of race in elections where oneof the candidates is black. Using the 1982 California gubernatorialelection between Tom Bradley and George Deukmejian as a casestudy, the paper shows that whereas racial attitudes were asignificant influence on the voting decisions of whites, Bradley'sbackground did not stimulate an unusual level of racially motivatedbehavior. The paper argues that the impact of a candidate'srace on voting depends on a number of contextual factors, includinghis prior record and campaign style. The paper also proposesa technique for comparing the results of biracial electionswith contests where ah1 the candidates are white as a methodfor estimating the level of racial voting.     

SELF-INTEREST AND PUBLIC OPINION TOWARD SMOKING RESTRICTIONS AND CIGARETTE TAXES

A burgeoning literature suggests that self-interest has littleinfluence on policy preferences. In sharp contrast are the findingsdiscussed in this paper: we show that self-interest plays adecisive role in shaping attitudes toward smoking restrictionsand cigarette taxes. Data from two random samples of Californiaadults collected by the Field Institute in April 1987 and February1984 indicate that nonsmokers are far more enthusiastic abouttightening smoking restrictions and increasing cigarette taxesthan smokers, particularly heavy smokers. We conclude by discussingseveral explanations for the apparent discrepancy between theseresults and the pattern of null findings characteristic of theself-interest literature.     

The Effects of Branching on Item Nonresponse

The analysis of responses to a large sample survey instrumentindicates that branching instructions significantly increasethe rate of item nonresponse for items immediately followingthe branch. While older respondents did have a higher incidenceof item nonresponse, none of six other factors (education, gender,distance to next question, number of previous branches, futurebehavior, or nature of response) hypothesized to affect itemnonresponse were significantly related to the rate of nonresponse.     

THE INSTITUTIONALIST ECONOMIC THEORIES OF CLARENCE AYRES

This paper creates a synthesis of Ayres's views, drawing them together from his many publications, and displaying his work as an intellectual system. His work is also evaluated, with the conclusion that his basic distinction between institutional and technological behavior is not tenable, but that he made some contributions of lasting value in his elaboration of institutionalist theory. In particular, he demonstrated the necessity for a recognition of the cultural and technological environment within which economic behavior occurs, he argued persuasively in favor of an interdisciplinary approach, and he contributed to the analysis of the process of technological change.