The relationship between per capita income and a number of pollution indicators has been found to display an inverted U-shaped or downward-sloping pattern. Corruption may affect this relationship in two distinct ways: by raising pollution at given income levels (direct effect) and by reducing...

This paper analyzes the incentive properties of the standard and burden of proof for a finding of negligence, when evidence is imperfect and rests with the parties. We show that the preponderance of evidence' standard provides maximal incentives to exert care. This holds even though litigants...

This paper assesses how legal origin influences financial development through regulation quality and the rule of law. It employs all the dimensions identified by the Financial Development and Structure Database of the World Bank. The law channels are instrumented with legal origins to account...

This paper proposes and empirically validates four theories of why legal origin influences growth and welfare through finance. It is a natural extension of "Law and finance: why does legal origin matter?" by Thorsten Beck, Asli Demirgüç-Kunt and Ross Levine (2003). We find only partial support...

In criminal cases the task of the judge is to transform the uncertainty about the facts into the certainty of the verdict. In this experiment we examine the relationship between evidence of which the strength is known, subjective probability of guilt and verdict for abstract cases. We look at...

During the period 2001-2009, four combat brigades and the 3rd Armored Cavalry Regiment were based at Fort Carson, Colorado. These units were repeatedly deployed during the Iraq War, allowing us to measure the effect of arguably exogenous changes in troop levels on violent crime in El Paso...

The trade-off between the immediate returns from committing a crime and the future costs of punishment depends on an offender's time discounting. We exploit quasi-experimental variation in sentence length generated by a large collective pardon in Italy and provide non-parametric evidence on the...

Despite intense public interest in keeping guns out of schools, next to nothing is known about the effects of gun control policies on youth gun carrying or school violence. Using data from the Youth Risk Behavior Surveys (YRBS) for the period 1993-2013, this study is the first to examine the...

Using the universe of individual asylum cases in the United States from 2000-2004 and a difference-in-differences research design, we test whether Sept. 11, 2001 decreased the likelihood that applicants from Muslim-majority countries were granted asylum. Our estimates suggest that the attacks...

This study analyzes the effectiveness of the Market Abuse Directive (MAD) in reducing possible profits from insider trading during voluntary tender offers with the purpose of delisting initiated by controlling shareholders. Exploiting the quasi-experimental setting provided by the introduction...