Voluntary agreements with industry offer many examples of overcompliance with respect to environmental standards. Such phenomena seem to be irrational but appear less surprising considering firms' strategies are aimed to internalise environmental quality. We model the choice of the environmental...

In der Literatur zur Abschlußprüfung ist ein negativer Effekt eines ökonomischen Vorteils aus der wiederholten Mandatsannahme, der aufgrund von Transaktionskosten entsteht, auf die Unabhängigkeit des Abschlußprüfers diskutiert worden. Anders als die bisher vorgestellten Ansätze wird im...

In der Literatur zur Abschlußprüfung ist ein negativer Effekt eines ökonomischen Vorteils aus der wiederholten Mandatsannahme, der aufgrund von Transaktionskosten entsteht, auf die Unabhängigkeit des Abschlußprüfers diskutiert worden. Anders als die bisher vorgestellten Ansätze wird im...

We consider an infinitely repeated game in which a privately informed, long-lived manager raises funds from short-lived investors in order to finance a project. The manager can signal project quality to investors by making a (possibly costly) forward-looking disclosure about her project's...

We consider an infinitely repeated game in which a privately informed, long-lived manager raises funds from short-lived investors in order to finance a project. The manager can signal project quality to investors by making a (possibly costly) forward-looking disclosure about her project's...

In three experiments, we examine how an employer reputation system disciplines an online labor market (Amazon Mechanical Turk) in which employers may decline to pay workers while keeping their work product. These three experiments test the value of the employer reputation system for workers,...

An entrepreneur contracts with a consultant, who is protected by limited liability, to supply information about the state of a project prior to investing in it. For a given level of investment, a good project succeeds with higher probability than a bad one. The entrepreneur makes an upfront...

An entrepreneur contracts with a consultant, who is protected by limited liability, to supply information about the state of a project prior to investing in it. For a given level of investment, a good project succeeds with higher probability than a bad one. The entrepreneur makes an upfront...

Fines imposed on firms for corporate infringements such as cartels reduce these infringement's profitability. When a manager knows when a violation is unprofitable he can prevent violations committed by an uninformed employee by investing in compliance programs (CPs). Investments can be...

Firms have incentives to influence regulators' decisions. In a dynamic setting, we show that a firm may prefer to capture regulators through the promise of a lucrative future job opportunity (i.e., the revolving-door channel) than through a hidden payment (i.e., a bribe). This is because the...