The Bosman Ruling and the Emergence of a Single Market in Soccer Talent

This paper discusses the effect of the ruling by the European Court of Justice in the Bosman case which delivered freedom of contract to professional soccer players. The result is examined in the context of modern investment theory where contracts between club and player are considered as options to renegotiate the contract or to sell the player to another party. The effects of the ruling are reconsidered in this light and the reaction of the soccer world to these effects are discussed.     

SEMATECH and collaborative research: Lessons in the design of high-technology consortia

This article reviews the experience of SEMATECH as a model for high-technology research consortia. SEMATECH's original aims of developing next-generation manufacturing technology proved hard to achieve, and the program has refocused on generic technology and the equipment industry infrastructure. Though more modest, these new objectives have produced significant tangible results. The study considers the reasons for the change and implications for consortium design. This is contrasted with the history of other major collaborative research programs in Japan, Europe, and the United States.     

Risk compensation and the effectiveness of safety belt use laws: a case study of New Jersey

This paper investigates the effectiveness of New Jersey's mandatory belt use law (MUL) by testing specifically for: (1) a safety effect, and (2) a risk-compensation effect that could offset (in part) any safety impact. The main findings are that injury severity declined significantly in the 22 months following implementation of the MUL; but that accident frequency increased significantly. The increase in accidents may be explained only partially by increased driving mileage. These findings suggest that the real safety effect of the law may have been diluted by risk-compensating behavior.This paper is based on a study conducted for the New Jersey Office of Highway Traffic Safety by the Rutgers University Bureau of Economic Research. We are grateful to William Ascher and two referees for useful comments.     

Vouchers and voting: An initial estimate based on the median voter model

One of the major concerns associated with school voucher proposals is that they will only benefit those who leave public schools in favor of private schools. The children left behind in public schools are expected to necessarily be made worse off by such policies. This paper provides evidence suggesting that children left behind in public schools will also benefit. The available evidence suggests that, after a voucher plan, voter support for public schools will rise enough to increase the human capital of public school students, despite the presence of negative peer group effects.