Occupational Licensure and Regulation

advertising agency American Dental Association analysis asymmetric information average quality benefits Benham Census certification clients coefficients commission competition complaints Congress consumers courts demand curve dentists discussion dummy variable earnings economists effect of licensing employment enforcement entrants equation estimates exam examination example Federal Trade Commission FTC's function higher hospitals impact income increase individual industry informational asymmetry input interstate migration rate interstate mobility labor Law and Economics less licensed occupations licensing boards mandatory laws mandatory licensure market failure Maurizi minimum-quality standards occupational licensing occupational licensure program occupational regulation opportunity cost output percent percentage physicians practice practitioners problem profes professional firms professional markets professional services professions reduce registered nurses regression regulatory relationship relatively result schools sellers sional social sumers suppliers supply U.S. Congress unlicensed wage welfare workers