The paper provides new insights into the productivity of teams and the relationship between the inspector and the inspected party. Exploiting exogenous variation in the number of inspectors that are sent to offshore oil and gas platforms in the Gulf of Mexico, we find that adding an inspector...

Hedonic pricing models have been used to infer the cost of crime by estimating property value differences in high versus low crime areas. However, previous studies have been unable to disentangle the cost of individual crimes. This note reports on an attempt to estimate the cost of individual...

Over the past several years, labeling schemes that focus on a wide range of environmental and social metrics have proliferated. Although little empirical evidence has been generated yet with respect to carbon footprint labels, much can be learned from our experience with similar product labels....

Criminal Law and Economics applies economic theory to explain crime, law enforcement, criminal law and criminal procedure. This pathbreaking book draws together sixteen chapters by leading scholars in the field, summarizing theoretical and empirical work researched to date on criminal law and...

Recently enacted sentencing guidelines were designed to reduce disparity and to increase the average sanction for white-collar offenders. Whether these outcomes will be achieved, however, depends on how closely judges adhere to the new guidelines. We cannot yet determine how the guidelines will...

Previous studies that attempt to relate environmental to financial performance have often led to conflicting results due to small samples and subjective environmental performance criteria. We report on a study that relates the market value of firms in the S&P 500 to objective measures of their...