Abstracts for Vol.
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This is a major unresolved question in the economic analysis of occupational licensing. This paper provides the first empirical evidence on the simultaneous relationship between anticompetitive effects and minimal quality standards. This study is the first to relate complaints against real estate licensees to compliance and enforcement efforts by regulators and prelicensing education requirements. Results suggest that minimal prelicensing education requirements may reduce complaints but more stringent requirements do not appear to lead to further reductions. The most effective way to reduce complaints is found to be through vigorous efforts at compliance and enforcement.