In this paper, we study how a monopolistic firm with unknown costs may behave under the threat of regulation. To this …

We build a dynamic model of migration where, in addition to classical mobility costs, workers face informational … identification strategy is based on the premise that frictions affect the frequency of job transitions, while mobility costs impact … the distribution of accepted wages. We find that after controlling for frictions, mobility costs are one order of …

decision theory to more fully explain both why the conventional law focuses on minimizing the risk of false-positive outcomes … and why the modern law should be crafted to minimize total probate-error risk. Decision theory suggests that, to identify … the proper goal of a decision-making process, one must compare the error costs of false-positive outcomes and false …