This paper develops a model in which market structure is determined endogenously by the choice of intermediation mode. We consider two representative business modes of intermediation that are widely used in real-life markets: one is a middleman mode where an intermediary holds inventories which...

Simon Rottenberg's seminal 1956 article in the Journal of Political Economy, 1956, is generally accepted as the starting point for the development of the economics of sport. While he recognised that certain features of professional sports leagues were unusual he saw little reason to treat this...

This paper examines whether the introduction of corporate governance (CG) reforms in general and that of transparency and disclosure (T&D) rules in particular can necessarily boost firm performance. Existing literature suggests that CG reforms can boost performance because it can resolve the...

In the UK concern has been expressed over the degree of gender occupational segregation. Though there are no general provisions for affirmative action, it does apply in limited areas and pro-active measures have been suggested. In this paper we focus on gender differences in work preferences in...

We provide novel evidence on the effectiveness of mandated changes in Russian transparency and disclosure (henceforth T&D) rules in boosting shareholder welfare. We focus on the staggered implementation of these T&D reforms initiated in 2002 and implemented during 2003-07. Using difference in...

Nearly half of U.S. employers test job applicants and workers for drugs. I use variation in the timing and nature of drug testing regulation to study discrimination against blacks related to perceived drug use. Black employment in the testing sector is suppressed in the absence of testing,...

Many studies show that women are more risk averse than men. In this paper, following DeLeire and Levy (2004) for the US, we use family structure as a proxy for the degree of risk aversion to test the proposition that those with strong aversion to risk will make occupational choices biased...

Most contracts that individuals enter into are not written from scratch; rather, they depend upon forms and terms that have been successful in the past. In this paper, we study the structure of form construction contracts published by the American Institute of Architects (AIA). We show that...

This paper is the first to provide evidence of efficient taxation of groups with heterogeneouslevels of ‘tax morale’. We set up an optimal income tax model where high tax morale impliesa high subjective cost of evading taxes. The model predicts that ‘nice guys finish last’: groupswith...

This paper analyses how governance or institutional quality and tax morale affect the shadoweconomy, using an international country panel and also within country data. The literaturestrongly emphasizes the quantitative importance of these factors to understand the level andchanges of shadow...