In recent years, different levels of government in Canada and the United States have claimed that public complaints are an important source of information for the enforcement of environmental regulations. Public complaints provide monitoring at a lower cost than inspections but are inaccurate...

We hypothesize that moral hazard is an important factor in explaining the under performance of firms, identified by Ritter (1991), following initial public offerings (IPOs). We test this hypothesis by comparing post-IPO returns of franchised and non-franchised firms. Franchised IPOs, whose...

This paper examines the formation of International Environmental Agreements (IEAs). The economic literature focuses on scenarios where countries are weakly sensitive to environmental damages (constant or linear marginal damages) and finds that stable coalitions are small when countries choose...