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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
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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
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Coase v. the Coasians
Johnson, Simon - 1999
The Coase theorem implies that, in a world of positive transaction costs, any of a number of strategies, including judicially enforced private contracts, judicially enforced laws, or even government regulation, may be the cheapest way to bring about efficient resource allocation. Unfortunately,...
Persistent link: https://www.econbiz.de/10012471336
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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
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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
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Optimal Liability when the Injurer's Information about the Victim's Loss is Imperfect
Polinsky, A. Mitchell - 1987
A central result in the economic theory of liability is that, if an injurer's liability equals the victim's loss, then …
Persistent link: https://www.econbiz.de/10012476895
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A Note on Optimal Public Enforcement with Settlements and Litigation Costs
Polinsky, A. Mitchell - 1986
This note reexamines the theory of optimal public enforcement when litigation costs are incurred if the defendant is …
Persistent link: https://www.econbiz.de/10012476955
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The Welfare Implications of Costly Litigation in the Theory of Liability
Polinsky, A. Mitchell - 1986
One of the principal results in the economic theory of liability is that, assuming litigation is costless, the rule of …
Persistent link: https://www.econbiz.de/10012477242
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Fixed Price Versus Spot Price Contracts : A Study in Risk Allocation
Polinsky, A. Mitchell - 1986
Thi spaper is concerned with the risk-allocation effects of alternative types of contracts used to set the price of a good tobe delivered in the future. Under a fixed price contract, the price is specified in advance. Under a spot price contract, the price is the price prevailing in the spot...
Persistent link: https://www.econbiz.de/10012477260
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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