Economic models of tort law evaluate the efficiency of liability rules in terms of care and activity levels. A liability regime is optimal when it creates incentives to maximize the value of risky activities at the net of accident and precaution costs. The allocation of primary and residual...

In this paper we present an occupational choice model for entrepreneurs, in which, based on their individual skills and on the quality of their business, entrepreneurs can keep their original business, open a new business in the same or another sector along the current business (portfolio...

We analyse how piracy affects the choice of quality of a monopolist producing a digital good. A digital good is a special kind of information good, for example a music CD, a DVD or an electronic magazine available online. An important feature of digital goods is that they can be copied without a...