In this paper we analyze where value is added along supply chains on a sample of more than 2 million of firms in the European Union. We detect a non-linear U-shaped relationship between the value added generated by firms and their position on a productive sequence, for which tasks at the top and...

This paper deals with the risk of opportunism – the usual risk in economic exchanges. The breach of contract is probably the most common event in daily life and has therefore attracted research and debates in many disciplines of the social sciences. Our discussion deals with the current...

In merger agreements, the seller makes contractual representations and warranties (“reps”) about the state of the target, e.g., attesting to the accuracy of the target’s financial statements. We obtain a proprietary sample of claims for breaches of the reps in acquisition agreements...

Contract law affects behavior not just directly, by ordering damages, but also indirectly, by providing information on how the parties to the dispute behaved. Information from litigation can then help third parties decide whether to do business with the disputants going forward. Contract law...

Inclusivity is perhaps the single most important human need to facilitate and demonstrate fairness for all members in an open and free society. When this principle need is compromised by appearances of unscrupulous self-interested privileged elites to perpetuate a systemic widening disparity...

It has been claimed that the market fosters selfishness and thereby undermines the moral basis of society. This thesis has been developed with an emphasis on market exchange. Everyday life is, however, predominantly shaped by interactions in the workplace rather than by shopping behaviour. This...

It has been claimed that the market fosters selfishness and thereby undermines the moral basis of society. This thesis has been developed with an emphasis on market exchange. Everyday life is, however, predominantly shaped by interactions in the workplace rather than by shopping behaviour. This...

In this Article, we focus on an important problem involving mass-accident cases that was highlighted by the Deepwater Horizon litigation: overuse of courts to enforce contribution claims. These claims seek to shift incurred or expected liability and damages between the business and governmental...

This article argues that the enforcement in England in Re New Cap Reinsurance Corporation of an Australian monetary judgment rendered under Australian insolvency law does not sit easily with the Foreign Judgments (Reciprocal Enforcement) Act 1933. This is because the Foreign Judgments...

Consumer debts in the United States can effectively live (and grow) forever: most statutes of limitations do not extinguish them; they can morph into relatives' obligations after the debtor's death; and they sometimes rise from the grave even after they have been paid. All the while, interest...