A szerző tanulmányában az Amerikai Egyesült Államok antitröszt-szabályozásának fejlődését vizsgálja. Bemutatja, hogy melyek voltak a nyugati világ első modern antitröszt törvénye megalkotása mögött meghúzódó társadalmi, közgazdasági és politikai motivációk, illetve,...

The paper analyses the trends of State aid and corporate income taxation in Member States of the European Union after 2000. The issue is rather topical because the competition in State aid and detrimental international competition in taxation may both lead to a disintegration of the internal...

This paper examines the background of the considerable depreciation of the Argentine peso in late 2013 and early 2014. Our hypothesis is that the unsettled crisis of 2001 is responsible for the vulnerability of the Argentine currency, and the exchange rate correction is a belated consequence of...

Tanulmányunkban az Európai Unió tagállamainak 2000 utáni állami támogatási és társasági adózási trendjeit elemezzük. A témakör aktualitását az adja, hogy az állami támogatási verseny, valamint a káros nemzetközi adóverseny egyaránt a belső piac dezintegrációjához...

Several recent papers argue that contracts provide reference points that affect ex post behavior. We test this hypothesis in a canonical buyer-seller relationship with renegotiation. Our paper provides causal experimental evidence that an initial contract has a highly significant and...

We present an international trade model with multiproduct firms. Firms are heterogeneously endowed with two types of capabilities that jointly determine the trade-off within firms between managing a large portfolio of products and producing at low marginal cost. The model can explain many of the...

This paper reports data from a laboratory experiment on two-period moral hazard problems. The findings corroborate the contract-theoretic insight that even though the periods are technologically unrelated, due to incentive considerations principals can benefit from offering long-term contracts...

We study a continuous-time game of strategic experimentation in which the players try to assess the failure rate of some new equipment or technology. Breakdowns occur at the jump times of a Poisson process whose unknown intensity is either high or low. In marked contrast to existing models, we...

We study endogenous group formation in tournaments employing experimental three-player contests. We find that players in endogenously formed alliances cope better with the moral hazard problem in groups than players who are forced into an alliance. Also, players who are committed to expending...

The compensation of executive board members in Germany has become a highly controversial topic since Vodafone's hostile takeover of Mannesmann in 2000 and it is again in the spotlight since the outbreak of the financial crisis of 2009. Based on unique panel data evidence of the 500 largest firms...