Using information from the Peruvian administrative consumer system from 1998 to 2010, the paper assesses hypotheses taken from selection theory in the context of legal disputes (Priest and Klein, The Journal of Legal Studies 13(1):1, <CitationRef CitationID="CR24">1984</CitationRef>) and political science. Hypotheses from selection theory...</citationref>

Privacy protection is part of the social demand, which is rendered more crucial by the introduction of new technologies of information and communication in the workplace. Indeed, they improve the capacities of traditional systems for control and offer new ways to monitor (cybersurveillance) and...

We study the optimal regulation of a cooperative credit society which has private information on the intrinsic quality of its loan portfolio (adverse selection) and where the cooperative’s choice of effort to improve this quality cannot be observed by the regulator (moral hazard). We...

Purpose – There is empirical evidence that a firm's addition to S&P 500 results in significant abnormal returns and an increase in a stock's liquidity. The purpose of this paper is to argue that changes in the information environment after the year 2000 due to the implementation of Regulation...

The very essence of both federal and unitary countries is multi-tiered governments. This architecture typically involves some commonality of tax bases between higher- and lower-level authorities. This process points to the existence of vertical externalities, i.e. of an inefficiently high degree...

This article analyzes the manifold situations in which the efficient-market hypothesis (EMH) has influenced—or has failed to influence—federal securities regulation and state corporate law, and the prospective roles for the EMH in these contexts. In federal securities regulation, the EMH has...

Most agent-based simulation models of financial markets are discrete-time in nature. In this paper, we investigate to what degree such models are extensible to continuous-time, asynchronous modelling of financial markets. We study the behaviour of a learning market maker in a market with...

This paper demonstrates, through a controlled experiment, that the “Laffer curve” phenomenon does not always reflect a conventional income - leisure trade-off. Whether out of reason or out of emotion, taxpayers may also be willing to punish intentionally unfair tax setters by working less...

Purpose – There is empirical evidence that a firm's addition to S&P 500 results in significant abnormal returns and an increase in a stock's liquidity. The purpose of this paper is to argue that changes in the information environment after the year 2000 due to the implementation of Regulation...

Custom software development projects have special informational attributes that have challenged managers for many years: they are associated with information asymmetries regarding user valuation and developer costs, relationship-specific investments, and a resulting likelihood of positive...