We focus in this paper on the effects of court errors on the optimal sharing of liability between firms and financiers …, governments and courts we show, through numerical simulations, the distortions in liability sharing between firms and financiers … firm innocent of inappropriate care) errors. This role is considered in a context where liability sharing is already …

costs entirely mitigates the externality. Our data reveal a robust and persistent preference for avoiding negative social …

We investigate externalities in higher education enrollment over the course of development in a two-sector model. Each … acquiring human capital. Both sectors exhibit productivity externalities in the size of the skill-specific labor and in the …

internalize consumption externalities. It is demonstrated that the optimal second-best tax on an externality-generating good …

scope of inefficient migration. This positive welfare effect may significantly reduce abatement costs of pollution and calls …

This paper analyses the formation of international environmental agreements (IEAs) under uncertainty, focusing on the … of IEA formation when countries are risk neutral and another that explores the implications of uncertainty and risk …