We develop and test the effectiveness of a theoretical governance model for general purpose payment systems (GPPS), systems that are used by individuals, businesses and merchants, and state, local and federal government entities to make and receive payments. We test for effective governance...

To understand the implications of decentralized ledger technology for financial reporting and auditing, we analyze auditor competition, audit quality, client misstatements, and regulatory policy all in a unified framework. We demonstrate how collaborative auditing using a federated blockchain...

This paper proposes an extended version of the analytical structural model for the electricity market developed in a previous paper. The presented electricity price process is driven by stochastic load and random plant availability as well as stochastic marginal generation cost factors embedded...

This paper presents an analytical structural model for the electricity price process driven by stochastic load as well as stochastic marginal generation costs in a multi-fuel stack framework covering the entire fuel switch dynamics. Moreover, the random character of available generation capacity...

Price control can restore efficiency in some cases, but an uncarefully designed policy fails to restore efficiency, yields side effects, or even exacerbates efficiency losses. This paper shows that the copyright royalty rule, which takes the greater of ad valorem royalties and perunit royalties,...

This paper compares and contrasts the processes used by the European, United Kingdom and Scottish parliaments in considering broadband policies, legislation, regulatory systems and outcomes, within a complex triple-tiered governance system. Broadband is of increasing importance due to the...

This paper outlines a new proposal for correcting imbalances in training for the English Bar, by controlling access to the preliminary BVC (Bar Vocational Course) stage. The proposal, it is argued, should have additional strong beneficial effects on the composition and competitiveness of the...