An annullable penalty is a sanction that is applied unless monitoring takes place and the agent is found non-shirking. An annullable bonus is a bonus that the agent receives unless he has been monitored and found shirking. Annullable penalties and bonuses stand in contrast with normal penalties...

Eric Posner (2003) has argued that (contract) law and economics has failed to produce clear policy recommendations because its theoretical results are usually inconclusive and empirical data on the parameters are usually unavailable. Legislators and courts, however, cannot wait to make decisions...

Notwithstanding criticisms, behavioural economics has found a place in competition policy discussions. This paper explores how contributions from the field of management studies may strengthen behavioural theories of the firm and competition law. Various linkages may be drawn between management...