Similar Search Results

Do Managerial Objectives Drive Bad Acquisitions?

Morck, Randall - 1989

, when it buys a rapidly growing target , and when the performance of its managers has been poor before the acquisition …

Persistent link: https://www.econbiz.de/10012476048

Trust in Large Organizations

Porta, Rafael La - 1996

Several authors suggest that trust is an important determinant of cooperation between strangers in a society, and therefore of performance of social institutions. We argue that trust should be particularly important for the performance of large organizations. In a cross-section of countries,...

Persistent link: https://www.econbiz.de/10012472964

Threats without Binding Commitment

Shavell, Steven - 1996

This paper explores the power of threats in the absence of binding commitment. The threatener cannot commit to carrying out the threat if the victim refuses payment, and cannot commit to not carrying out the threat if payment is made. If exercising the threat is costly to the threatener, then...

Persistent link: https://www.econbiz.de/10012473401

Reconsidering Contractual Liability and the Incentive to Reveal Information

Bebchuk, Lucian Arye - 1999

In an earlier work, we analyzed how the legal rules governing contractual liability affect the transfer of information between the parties to the contract. In particular, we showed how limitations on contractual liability might lead high valuation buyers to reveal their valuation of performance,...

Persistent link: https://www.econbiz.de/10012471688

Any Non-Individualistic Social Welfare Function Violates the Pareto Principle

Kaplow, Louis - 1999

The public at large, many policymakers, and some economists hold views of social welfare that attach some importance to factors other than individuals' utilities. This note shows that any such non-individualistic notion of social welfare conflicts with the Pareto principle

Persistent link: https://www.econbiz.de/10012471750

The Economic Theory of Public Enforcement of Law

Polinsky, A. Mitchell - 1999

This article surveys the theory of the public enforcement of law -- the use of public agents (inspectors, tax auditors …, police, prosecutors) to detect and to sanction violators of legal rules. We first present the basic elements of the theory … examine a variety of extensions of the central theory, concerning accidental harms, costs of imposing fines, errors, general …

Persistent link: https://www.econbiz.de/10012471807

Economic Analysis of Law

Kaplow, Louis - 1999

This is a survey of the field of economic analysis of law, focusing on the work of economists. The survey covers the three central areas of civil law liability for accidents (tort law), property law, and contracts as well as the litigation process and public enforcement of law

Persistent link: https://www.econbiz.de/10012471847

Rewards versus Intellectual Property Rights

Shavell, Steven - 1999

This paper compares reward systems to intellectual property rights (patents and copyrights). Under a reward system, innovators are paid for innovations directly by government (possibly on the basis of sales), and innovations pass immediately into the public domain. Thus, reward systems engender...

Persistent link: https://www.econbiz.de/10012471851

Salience

Bordalo, Pedro; Gennaioli, Nicola; Shleifer, Andrei - National Bureau of Economic Research - 2021

We review the fast-growing work on salience and economic behavior. Psychological research shows that salient stimuli attract human attention "bottom up" due to their high contrast with surroundings, their surprising nature relative to recalled experiences, or their prominence. The Bordalo,...

Persistent link: https://www.econbiz.de/10012629494

Bequests as a Means of Payment

Bernheim, B. Douglas - 1984

Although recent research suggests that intergenerational transfers play an important role in aggregate capital accumulation, our understanding of bequest motives remains incomplete. We develop a simple model of"exchange-motivated" bequests, in which a testator influences the decisions ofhis...

Persistent link: https://www.econbiz.de/10012477792

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