Vol. 28, No. 2, Summer 2005

Cover Story

Good Puppets?

Communication by Other Means Can stock analysts' conflicts of interest benefit investors? By James C. Spindler (PDF, 531k)

Features

Energy & Natural Resources

The Myths of Owens Valley Los Angeles's "theft" offers positive lessons for water markets. By Gary D. Libecap (PDF, 531K )

A Superfluous Petroleum Reserve How should the SPR be used, and what benefits does it provide? By Timothy J. Considine and Kevin M. Dowd (PDF, 2.9M )

Environment

The Political Economy of Mercury Regulation The history of the new mercury rule offers important insights into improving environmental policymaking. By Ted Gayer and Robert Hahn (PDF, 564K )

Health & Medicine

An Uncertain Diagnosis Research used to criticize drug marketing also supports the claim that marketing benefits patients. By Paul H. Rubin (PDF, 221K )

Advertising & Media

Advertising, Alcohol, and Youth Is the alcoholic beverage industry targeting minors with magazine ads? By Jon P. Nelson (PDF, 4.4M )

Securities & Investment

The Thirty Years War RegNMS is only the latest development in the ongoing battle over securities market structure. By Craig Pirrong (PDF, 664K )

From Orders to Markets Who should decide what is "best execution"? By Jonathan Macey and Maureen O'Hara (PDF, 224K )

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Mercatus Reports

Green Sturgeon | Intercarrier Compensation | Canadian "Smart Regulation" (PDF, 234K )

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Briefly Noted

Is There a Steroids Problem? by Lewis Kurlantzick | Methylmercury Madness, by Sandy Szwarc and Henry I. Miller (PDF, 259K )

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In Review

Choosing Environmental Policy, edited by Winston Harrington, Richard D. Morgenstern, and Thomas Sterner | New Approaches on Energy and the Environment, edited by Richard D. Morgenstern and Paul R. Portney | The Not So Wild, Wild West, by Terry L. Anderson and Peter J. Hill (PDF, 560K )

The Final Word

Brother, Can You Spare a License? By Marni Soupcoff (PDF, 81K )

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