In this article, we provide an interpretation for the voluntary independence requirements contained in the Italian Corporate Governance Code (Preda Code) checking them against a proxy for international best practice, the independence criteria provided in the EC Recommendation on non-executive...

In 1930 a young Dutch scholar named W.F. Wertheim published his J.D.-dissertation Aansprakelijkheid voor schade buiten overeenkomst (Extra-contractual liability for damage). This dissertation did not attract much attention, and the author himself hardly did any further research on its topic....

The Normativity of Law in Law and Economics Péter Cserne* 1. Introduction This paper is about some theoretical and methodological problems of law and economics (economic analysis of law, EAL). More specifically, I will use game theoretical insights to answer the question, relevant both for law...

We analyze the legal reform concerning employees' inventions in Germany. Using a simple principal-agent model, we derive a unique efficient payment scheme: a bonus which is contingent on the project value. We demonstrate that the old German law creates inefficient incentives. However, the new...

In a double marginalization model which is played between a domestic monopolistic manufacturer of pharmaceuticals and a foreign exclusive distributor, I examine the impact of parallel trade freedom on the manufacturer's profit. I also analyze its impact on global welfare for low, intermediate,...

Seit einiger Zeit bedienen sich die Veranstalter von Grossereignissen wie Welt- und Europameisterschaften, Olympiaden, Konzerttourneen u.a.m. des Markenrechts, um Sponsoren dieser Ereignisse eine wertvolle Gegenleistung bieten zu können. Die Bezeichnung des Ereignisses wird als Marke...

A large literature in economics and marketing studies the problem of manufacturer's designing contracts that give a retailer appropriate incentives to make decisions that are optimal from the manufacturer's point of view (see, for example, Spengler 1950, Jeuland and Shugan 1983, McGuire and...