OECD indicators of structural policy show that policy changes in Italy since 1998 should have improved the environment for entrepreneurship significantly, but in the same period its economic performance has deteriorated noticeably. This may be partly because there is a difference between policy...

Systemic risk now occupies centre stage in discussions of bank regulatory reform. Systemic risk is often seen as a problem of size, operational complexity, interconnectivity and contagion. It is less often discussed in terms of the institutional framework of legal rules and principles within...

OECD indicators of structural policy show that policy changes in Italy since 1998 should have improved the environment for entrepreneurship significantly, but in the same period its economic performance has deteriorated noticeably. This may be partly because there is a difference between policy...

Can "competition of competition laws" be a feasible concept that should play an important role in an international order for the worldwide protection of competition? We introduce four different types of regulatory competition that allow for a more differentiated analysis of beneficial and...

Ein fehlerhaftes Testat führt oft zur Überbewertung des Unternehmens. Auf dem Sekundärmarkt, d.h. bei der Abschlussprüfung eines bereits börsennotierten Unternehmens, weiß ein uninformierter Anleger ex-ante nicht, ob er Käufer oder Verkäufer überteuerter Aktien sein wird. Er kann einen...

The aim of this chapter is to analyze the economic properties and the institutions governing the start-up and evolution of cultural districts. Cultural districts are a good example of economic development based on localized firms and local culture. The first part of the chapter (Sections 1–2)...

Open source methods for creating software rely on developers who voluntarily reveal code in the expectation that other developers will reciprocate. Open source incentives are distinct from earlier uses of intellectual property, leading to different types of inefficiencies and different biases in...