We develop a model where products liability trials provide information to consumers who are not parties to the …

A central result in the economic theory of liability is that, if an injurer's liability equals the victim's loss, then … either the rule of strict liability or the rule of negligence can induce the injurer to behave properly. However, for this … and, g fortiori, before any harm has occurred. This paper reevaluates the rules of strict liability and negligence when …

talent, which may have weakened the commitment between investors and managers. We show how increased competition and the …

mutual fund managers and corporate board members via shared education networks. We find that portfolio managers place larger … managers gaining an informational advantage through the education networks. Our results suggest that social networks may be an …

about fundamentals to investors and managers. First, we show that the informational feedback between the firm's share price … that explicitly linking managerial compensation to share prices gives managers an incentive to manipulate the firm …'s decisions to their own benefit. The managers take advantage of shareholders by taking excessive investment risks when the market …