GSIPM

April 19, 2011, 12:15-1:50 pm, MG 102

Speaker: Professor Jessica Holmes

Lecture title: “The Economics of Sin: What can economists tell us about the inner workings of underground markets?”

Lecture Description: Professor Holmes will explore the demand and supply interactions in the markets for crime, drugs, prostitution, pornography, human organs, etc.  She will consider whether buyers in these markets are rational and utility-maximizing and whether sellers behave like firms in legal markets.  She will also talk about the role that government plays in regulating “sinful” behavior and the consequences (both intended and unintended) of these government interventions.  The talk will assess lessons learned from domestic as well as international markets.