The right to hold dual citizenship is an important political institution that is being adopted by an increasing number of countries. We argue that this right can generate important social and economic benefits beyond its political dimension. Dual citizenship recognition by a country allows...

In the presence of (at least locally) increasing returns to scale tech- nologies, the paper asks the question: does there exist an economic system which implements Pareto efficient allocations and respects the voluntary participation principle? To answer this question, the paper formulates an...

In many organizations, decisions are taken by unanimity giving each member veto power. We analyze a model of an organization in which members with heterogenous productivity privately contribute to a common good. Under unanimity, the least efficient member imposes her preferred effort choice on...

In many organizations, decisions are taken by unanimity giving each member veto power. We analyze a model of an organization in which members with heterogenous productivity privately contribute to a common good. Under unanimity, the least efficient member imposes her preferred effort choice on...

Objective: Third-party policing (TPP) refers to police efforts to persuade or coerce third parties to take some responsibility for crime control and prevention. The Yakuza Exclusion Ordinances (YEOs) of Japan aim to combat organized crime syndicates---the yakuza. Consistent with the principles...

In this paper, we take an organizational view of organized crime. In particular, we study the organizational consequences of product illegality attending at the following characteristics: (i) contracts are not enforceable in court, (ii) all participants are subject to the risk of being punished,...

We study innovation incentives in the presence of "product hopping," whereby the incumbent patents a minor modification of a drug (e.g., a new delivery method) and invests in marketing to switch demand towards the minor modification. In our setting firms compete sequentially to discover two...

We investigate patent litigation, settlements and R&D incentives on a market where two firms develop technologies of differentiated products. Firms may sell IP rights to a Patent Assertion Entity (PAE) that acts as intermediary for patent monetization. We find that the effects of this so-called...

Independent central bankers and judges can both be more usefully viewed as trustees than as agents. A trust is a legal institution with rules set up by a settlor, administered by a trustee on behalf of beneficiaries. Public trustees often are motivated more by Pride, Policy, Place, and Power...

This study aims to reveal the connection between corruption and shadow economy, on one hand, and deforestation, on the other. The research considers 131 countries from all over the world, in the timeframe between the years 2012 and 2020, and it reveals that corruption and shadow economy...