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Algorithmic Recommendations and Human Discretion
Angelova, Victoria; Dobbie, Will; Yang, Crystal - National Bureau of Economic Research - 2023
Human decision-makers frequently override the recommendations generated by predictive algorithms, but it is unclear whether these discretionary overrides add valuable private information or reintroduce human biases and mistakes. We develop new quasi-experimental tools to measure the impact of...
Persistent link: https://www.econbiz.de/10014372504
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On the Effects of Linking Voluntary Cap-and-Trade Systems for CO2 Emissions
Weitzman, Martin L. - 2018
Linkage of cap-and-trade systems is typically advocated by economists on a general analogy with the beneficial linking of free-trade areas and on the specific grounds that linkage will ensure cost effectiveness among the linked jurisdictions. An appropriate and widely accepted specification for...
Persistent link: https://www.econbiz.de/10012480654
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Private Politics and Public Regulation
Egorov, Georgy - 2013
We develop a dynamic game to explore the interaction between regulation and private policies, such as self-regulation by firms and activism. Without a public regulator, the possibility of self-regulation is bad for the firm, but good for activists who are willing to maintain a costly boycott to...
Persistent link: https://www.econbiz.de/10012458926
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The Economics of Labor Coercion
Acemoglu, Daron - 2009
The majority of labor transactions throughout much of history and a significant fraction of such transactions in many developing countries today are "coercive", in the sense that force or the threat of force plays a central role in convincing workers to accept employment or its terms. We propose...
Persistent link: https://www.econbiz.de/10012463068
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The Economic Theory of Public Enforcement of Law
Polinsky, A. Mitchell - 1999
This article surveys the theory of the public enforcement of law -- the use of public agents (inspectors, tax auditors …, police, prosecutors) to detect and to sanction violators of legal rules. We first present the basic elements of the theory … examine a variety of extensions of the central theory, concerning accidental harms, costs of imposing fines, errors, general …
Persistent link: https://www.econbiz.de/10012471807
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A Note on Optimal Public Enforcement with Settlements and Litigation Costs
Polinsky, A. Mitchell - 1986
This note reexamines the theory of optimal public enforcement when litigation costs are incurred if the defendant is …
Persistent link: https://www.econbiz.de/10012476955
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Private versus Public Enforcement of Fines
Polinsky, A. Mitchell - 1979
The present paper analyzes the competitive, monopolistic, and public enforcement of fines allowing for the costs of enforcement to differ by the choice of the enforcer. There are a number of reasons to expect such differences. First, the benefits from coordinating enforcement -- for example,...
Persistent link: https://www.econbiz.de/10012478810
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The Private Enforcement of Law
Landes, William M. - 1974
An important question in the economic study of enforcement is the appropriate, and the actual, division of responsibilities between public and private enforcers. This question has been brought into sharp focus recently by an article in which Gary Becker and George Stigler advocate the...
Persistent link: https://www.econbiz.de/10012479061
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Citizen Rights and the Cost of Law Enforcement
Reder, Melvin - 1973
There is an inherent tension between the idea that individuals have certain inalienable (natural) rights and the economist's postulate that the rate if utilization of anything whose production requires scarce resources must be limited by considerations of opportunity cost. Remarks about rights...
Persistent link: https://www.econbiz.de/10012479113
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Breach, Remedies and Dispute Settlement in Trade Agreements
Maggi, Giovanni - 2009
We provide a simple but novel model of trade agreements that highlights the role of transaction costs, renegotiation and dispute settlement. The model allows us to characterize the appropriate remedy for breach and whether the agreement should be structured as a system of "property rights" or...
Persistent link: https://www.econbiz.de/10012463189