-material extrinsic incentive.The demand for awards relies on an individual’s desire for distinction, and the supply of awards on the …

flexible technology allowing for such option. Investment is irreversible and flexibility is costly. The problem is solved …

rigid, non discretionary contracts. Delegation grants some flexibility in the choice of the action by the agent, but also …

In a Case Law regime Courts have more flexibility than in a Statute Law regime. Since Statutes are inevitably … most economic decisions are already taken. Therefore, the advantage of flexibility for Case Law is unavoidably paired with … pairs the lack of flexibility with the ability to commit in advance to a given (forward looking) rule. This solves the time …

of equilibrium indirect tax policies via a political process, in the presence of status goods, allowing for the … status goods, despite the fact these are typically overconsumed, is not particularly favoured in a social welfare … remedying the inefficiencies associated with the consumption externalities generated by the status goods, is made ineffective by …