Is the blockchain technology with its technical coordination mechanisms also posing new challenges to antitrust dogma? Are conventional principles transferable to platforms or do we need new approaches? This paper examines the applicability of the prohibition of concerted practices to blockchain...

We examine the link between information produced by auditors and analysts and fraud duration. Using a hazard model, we analyze misstatement periods related to SEC accounting and auditing enforcement releases (AAERs) between 1982 and 2012. Results suggest that misconduct is more likely to end...

The combination of political and climate crises in early 2017 create the conditions for the ultimate perfect storm. The dramatic collapse of polar ice-sheets, coupled with climatic and weather conditions increasingly hostile to human life and livelihoods, appear to demand an immediate...

In recent years, the payment card industry has dealt with the matter of consumer liability for unauthorized charges. However, risks to consumers from identity theft and related use of personal data present new challenges for cardholders and those who profit from their usage, including merchants,...

This paper considers the costs of reducing consumption of goods by making their production illegal and punishing illegal producers. We use illegal drugs as a prominent example. We show that the more inelastic either demand for or supply of goods is, the greater the increase in social cost from...

We study the optimal design of regulation for innovative activities which can have negative social repercussions. We compare two alternative regimes which may provide firms with different incentives to innovate and produce: lenient authorization and strict authorization. We find that corruption...

We propose and find that enhanced regulatory transparency facilitates alignment between private and public enforcement. Utilizing the SEC's 2004 decision to publicly disclose its comment letters, we explore the actions of a public enforcer (the SEC) and a private enforcer (shareholder...

Attempts to curb illegal activity by enforcing regulations gets complicated when agents react to the new regulatory regime in unanticipated ways to circumvent enforcement. We present a research strategy that uncovers such reactions and permits program evaluation net of such adaptive behaviours....

Attempts to curb illegal activity through regulation gets complicated when agents can adapt to circumvent enforcement. Economic theory suggests that conducting audits on a predictable schedule, and (counter-intuitively) at high frequency, can undermine the effectiveness of audits. We conduct a...

Spanish Abstract: El presente trabajo tiene por objeto determinar si la prohibición de los precios no equitativos establecida en el artículo 2.2 (a) LDC debería ser interpretada en el sentido de que se refiere únicamente a los precios susceptibles de obstaculizar del mantenimiento del nivel...