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The Role of Publicly Provided Electricity in Economic Development: The Experience of the Tennessee Valley Authority 1929-1955
Kitchens, Carl T.Stanford (Calif.) : Stanford Institute for Theoretical Economics, 2012I study the long run impacts of one of the largest regional development projects in American History, the Tennessee Valley Authority (TVA), on a variety of economic outcome variables. Between 1933 and 1967, incomes in the Southeastern United States increased from 45 percent of the national average to 69 percent. Congressional leaders attributed the narrowing of the gap in part to the TVA. One of the reasons commonly stated was that the areas receiving TVA electricity face lower electric charges than other providers. For the vast majority of customers the claim of lower electric charges is incorrect because most people have not realized that capital amortization fees were added to each consumers' monthly bill, which raised the TVA electricity charges to the same levels charged by other provides in the Southeast. Analysis of a panel of county level data shows that the development of the TVA during its first 30 years did not cause manufacturing, retail sales per capita or electrification to grow any faster in areas receiving TVA electricity than in other areas in the Southeast. The study shows the importance of the combination of archival and quantitative research to the study of large regional development projects.
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Experimental law and economics
First edition - Bingley, UK : Emerald Publishing, 2022Experiments. Law. Economics. Those three words taken by themselves encompass vast parts of the human intellectual experience. Even when we link them together as Experimental Law and Economics, we see a large and diverse body of inquiry over the last half century. This 21st volume of Research in Experimental Economics focuses on experimental and empirical investigations into topics about both the economic effects of the law and how economic theories can explain the behavior of individuals within a legal system. The papers in this volume follow two long-standing traditions. Firstly, the tradition of experimental methodology that allows one to test the potential impacts of alternate institutional arrangements. Secondly, a subset of the papers in this volume, in addition to exploring institutional change, follow the tradition in experimental economics of replication and robustness studies. Illuminating three key areas, by summarizing mechanisms to facilitate the assembly of property rights, exploring legal procedure, and replicating classic market experiments using more recent experimental methods to understand how different market rules affect market outcomes, each of these papers contributes to one of the broader areas within experimental law and economics.
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