Banks failed in 2008 because individuals with knowledge of risks were not connected to individuals who had the incentive and power to take corrective action. Evidence of this problem is provided by reports from the Lehman liquidator and The US Government Financial Crisis Inquiry Commission....

The purpose of this paper is to explore the economic theoretical foundations of the idea that rational terrorist organisations deliberately randomise their attacks (by type, timing, location and targets) to generate uncertainty and intimidation. A choice theoretic framework is applied to the...

The living wage standard has emerged as a norm in global initiatives targeting supply chain labor practices. This is unexpected, because the living wage, if actually paid, could impose substantial new supply chain costs. There is also considerable disagreement on how to calculate a living wage...

In submitting disputes over environmental harms to an international court or tribunal, the parties to the conflict seek a workable remedy for the issue(s) that triggered the action. Environmental disputes are a relatively recent class of cases that have been litigated in international courts....

Road safety for fleets of vehicles has been neglected in the insurance literature, mainly because appropriate data is not available. This paper makes a threefold contribution: 1) Produce statistics on current fleets’ road safety offences using a panel of 20 years of data on truck fleets; 2)...

Environmental, Social and Corporate Governance is, as of mid-2021, a hot topic that many firms are grappling with, given an increasing level of investor and consumer focus on the sustainability credentials of their businesses, and what they are doing to improve them. For example, major...

The financial crisis of 2007 has triggered various debates, ranging from the stability of the banking system to subtle technical issues regarding the Gaussian and other copulas. All these debates are important, and it might be good to start even a further one: Credit derivatives have much in...

Popular protests and palace coups are the two domestic threats to dictators. We show that free media, which informs citizens about their rulers, is a double-edged sword that alleviates one threat, but exacerbates the other. Informed citizens may protest against a ruler, but they may also protest...

The energy transition increases the demand for minerals from ethnically diverse, conflict-prone developing countries. We study whether and where mining is possible in such countries without raising the risk of civil conflict. We proceed in three steps: First, we propose a theoretical model to...

The government support of financial firms through direct assistance and programs to improve market liquidity during the worldwide financial crisis of 2007-2008 is unprecedented since the Great Depression. Whether a given firm is ex-ante ‘Too Big To Fail' in the mind of government agents is not...