Marketplace lending, enabled by technological innovation, represents a new opportunity for raising capital. It is regarded by the EU as having the potential to expand the financing options of SMEs and improve the integration of the Internal Capital Market. However, applying traditional legal...

We study the GDPR's opt-in requirement in a model with a firm that provides a digital service and consumers who are heterogeneous in their valuations of the firm's service as well as the privacy costs incurred when sharing personal data with the firm. We show that the GDPR boosts demand for the...

Crowdfunding has been regarded as a useful tool to meet consumers’ and SMEs’ financing needs as well as investors’ need for diversified alternative investments finance and desire for a more ‘democratic’ financial system. It has also been presented as a form of ‘disintermediated’...

We study the GDPR's opt-in requirement in a model with a firm that provides a digital service and consumers who are heterogeneous in their valuations of the firm's service as well as the privacy costs incurred when sharing personal data with the firm. We show that the GDPR boosts demand for the...

We study the GDPR's opt-in requirement in a model with a firm that provides a digital service and consumers who are heterogeneous in their valuations of the firm's service as well as the privacy costs incurred when sharing personal data with the firm. We show that the GDPR boosts demand for the...

This paper develops five theses to analyze the distribution of economic, social and environmental effects connected with the system of geographical indications (gis). The authors claim that the distribution of benefits for the agricultural sector largely differentiate among European countries...

Why do not people evade more taxes when their gain from evasion is higher than the expected penalties? Why does only a small minority evade when a large majority is willing to? These tax evasion puzzles are explained in a labour market framework where employees may combine reported work in firms...

The financial crisis that erupted in 2007 highlighted how important trust is for the global system and how fragile it can be. The 2016 Bangladesh central bank cyber incident exposed a new threat to financial stability and the unprecedented scale of the risk that malicious cyber actors pose to...

Digital innovations in finance have in recent years attracted strong interest from public authorities, financial sector stakeholders and academics alike, inter alia on account of their promise to reduce, or to altogether eliminate, the inefficiencies surrounding the execution and settlement of...

Ende Oktober 2018 hat der Sachverständigenrat für Verbraucherfragen das Gutachten "Verbrauchergerechtes Scoring" vorgelegt. Es geht dabei um die sich ausbreitende Praxis, immer mehr Aspekte des Verhaltens der Bürger durch "Scores" vorherzusagen oder zu steuern. Scoring ist durch eine Reihe...