In this paper, we discuss how fraud losses impact the price structure chosen by a monopolistic payment platform, if … merchants can invest in fraud detection technologies. We show that liability rules bias the structure of the prices charged by …. If consumers are liable for fraud, the profit-maximizing price structure is neither biased in favor of consumers nor …

common sanction for this kind of fraud in the USA and in some European countries. …

We examine firm managers' incentives to commit fraud in a model where firms seek funding from investors and investors … can monitor firms at a cost in order to get more precise information about firm prospects. We show that fraud incentives … funded without committing fraud, whereas in bad times investors are more vigilant and it is harder to commit fraud …

We report an experiment examining risk taking and information aggregation in groups. Group members come to the table …

report a laboratory experiment based on these extended games. We find that behavior is similar in the two extended games …

choices from a laboratory experiment. The equilibrium predicts that the large battlefield receives more than a proportional …