For a large European data set, we find that in about 21% of all cases, cross-hierarchy pay schedules are inconsistent with tournament theory for managers from the highest echelons. For middle echelons, this number increases to 55%. We study whether social preferences of potential contestants...

The European Community Regulation on Chemicals (REACH) is supposed to be a modern and intelligent regulation. It entered into effect on June 1, 2007 and remains in its implementation phase. The modern and intelligent aspects primarily lie in the way in which self-responsible action on the part...