Public Monopoly and Economic Efficiency: Evidence from the Pennsylvania Liquor Control Board's Entry Decisions
---- Acknowledgments ----
We thank seminar participants at Kellogg, MIT, Ohio State, Texas, Toronto, Virginia, Wisconsin, the Tenth CEPR Conference on Applied Industrial Organization, and the 2010 NBER Winter IO Meetings at Stanford. We are grateful to Tim Bresnahan for comments on an earlier draft. We thank Thomas Krantz at the Pennsylvania Liquor Control Board for helping us to get access to the data. All errors are our own. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.