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We estimate a structural model of borrowing and lending in the illegal money lending market using a unique panel survey of 1,090 borrowers taking out 11,032 loans from loan sharks. We use the model to evaluate the welfare effects of alternative law enforcement strategies. We find that a large...
Persistent link: https://www.econbiz.de/10013262951
In case of digital goods such like music, intellectual property rights are typically not exerted by the creators (artists) but by intermediaries. Their profits, and therefore also the income of the artists, are endangered by copyright infringements (piracy). It is well known from static welfare...
Persistent link: https://www.econbiz.de/10010337047
Criminal law enforcement depends on the actions of public agents such as police officers, but the resulting agency problems have been neglected in the law and economics literature (especially outside the specific context of corruption). We develop an agency model of police behavior that...
Persistent link: https://www.econbiz.de/10010509622
In the theory of public enforcement of law the choice of the liability rules is between strict liability and fault …
Persistent link: https://www.econbiz.de/10011924592
Many facts are learned through the intermediation of individuals with special access to information, such as law enforcement officers, employees with a security clearance, or experts with specific knowledge. This paper considers whether societies can learn about such facts when information is...
Persistent link: https://www.econbiz.de/10011664148
This article translates and extends Becker (1968) from public law enforcement to private litigation by examining optimal legal system design in a model with private suits, signals of case strength, court error, and two types of primary behavior: harmful acts that may be deterred and benign acts...
Persistent link: https://www.econbiz.de/10011772058
capital, consistent with a financing channel driving the results. Moreover, in presence of stronger enforcement, firms can …
Persistent link: https://www.econbiz.de/10012303228
Rules of consumer protection or fair competition can be publicly or privately enforced. We consider the possibility of false advertising by a firm in duopolistic competition where consumers can be distinguished according to whether or not they form rational beliefs about the trustworthiness of...
Persistent link: https://www.econbiz.de/10012012317
This paper studies how punishment for past offenses affects future compliance behavior and isolates deterrence effects mediated by learning. Using administrative data from speed cameras that capture the full driving histories of more than a million cars over several years, we evaluate responses...
Persistent link: https://www.econbiz.de/10012154923
capital, consistent with a financing channel driving the results. Moreover, in presence of stronger enforcement, firms can …
Persistent link: https://www.econbiz.de/10012668229