This paper examines the setting of optimal legal standards to simultaneously induce parties to invest in care and to motivate law enforcers to detect violators of the law. The strategic interaction between care providers and law enforcers determines the degree of efficiency achieved by the...

Using a formal political economy model with incomplete information regarding the accident preventing activities chosen by the firm (moral hazard) under limited liability, we illustrate different conditions under which an environmental protection system based on extending liability to private...

The 1980 Comprehensive Environmental Response, Compensation and Liability Act in the US has extended the tools of the Environmental Protection Agency to recover cleanup costs caused by pollution damages from the liable parties. In particular, the banks who finance the firms causing environmental...

We characterize the distortions in environmental liability sharing between firms and banks that the imperfect implementation of government policies implies. These distortions stem from three factors: the presence of moral hazard, the use of objective functions by firms and banks that differs...

American corporations will spend some $50 billion US in 1997 on reengineering projets. It is believed that two thirds of these efforts will end up in failure because of significant resistance to change and a lack of concensus and commitment among senior executives. Very little effort has been...

I characterize the performance of the Québec economy over the last quarter century: 1981-2007. Many indicators are presented: GDP, GDP per capita, population, job creation, employment rates, average weekly earnings, private investments, exports, debt, R&D. In spite of some strong sectors, the...

We show that, under asymmetric information about costs, limit location strategies, that is distortions in pre-entry locations created by the entrant's inference about the incumbent's cost advantage which prevent entry, emerge not only as the result of the incumbent's cost advantage but also as...

The Copyright Act (R.S.C., 1985, c. C-42) includes several exceptions to the exclusive right of copyright holders, including the provisions concerning fair dealing, which state that fair dealing in respect of a literary or artistic work for the purposes of private study, research, criticism or...

We model the interactions between the management mode and costs of water services in order to compare their performances and pricing. We estimate those models on French panel data. We find that the choice by the local authority depends on the service costs and characteristics. There is no...

Using a structural model of the interactions between governments, firms and insurance companies, we characterise the distortions in environmental liability sharing between firms and insurance companies that the imperfect implementation of government policies implies. These distortions stem from...