liability regime under s52 of the Trade Practices Act, to a due diligence regime under the Corporations Law. I argue that due … diligence is inferior to strict liability for large firms, but in some cases may be preferred to strict liability for small …

This paper examines the role of liability for past environmental contamination in the privatization processes of … regarding the extent of past environmental contamination (and its cleanup costs) and the investor’s willingness to pay for a … particular enterprise, i.e., bid. As the investor obtains a more precise estimate of the uncertain cleanup costs, the investor …

-dependent externalities to the non-consumers. Resale markets for such goods are analysed in various institutional settings with complete …

-constrained monetary economy with heterogenous agents and increasing returns to scale due to labour and capital productive externalities … (arbitrarily) small degree of (total) externalities provided that the share of labour externalities exceed a lower bound, which …

optimal tax could exceed marginal external damages, which implies that externalities generated by oligopolistic firms could be …

-fulfilling expectations. We consider an overlapping generations economy with capital externalities and we focus on underemployment equilibria …. We find that for wide regions in the parameter space, including an arbitrarily small degree of externalities and a Cobb … that the role of unions in shaping local dynamics depends on technology (externalities and factor's substitutability …

-enhancing from the point of view of aggregate world welfare because it helps alleviate externalities arising from cross …

externalities. We show that the hold-up problem, which occurs if non-verifiable investments have external effects and parties cannot …