We study the interaction of a firm that invests in research and, if successful, undertakes a practice to exploit the innovation, and an enforcer that sets legal standards, fines and accuracy. In this setting deterrence on actions interacts with deterrence on research. When the practice increases...

More and more companies appear with strange abbreviations behind their business name. Consider Chrysler Group LLC (instead of Inc.) or LVMH Montres & Joaillerie France SAS. Some even speak about the 'endangered corporate form' and point to the rise of the uncorporation. This Primer examines how...

In this paper, we describe the development and current status of anti-manipulation rules as they apply to wholesale electricity and natural gas markets in the United States and the European Union, including the institutions that are responsible for overseeing these rules. We then compare and...

Prevailing work argues that foreign investment reduces corruption, either by competing down monopoly rents or diffusing best practices of corporate governance. We argue that this theory is too broad-brush and that the empirical work testing it is too heavily drawn from aggregations of total...

Market manipulation is a poorly understood phenomenon, due in part to legal standards that categorize manipulative behavior as either an act of outright fraud or as the nebulous use of market power to produce an artificial price. In this paper, we consider a third type of behavior that can...

This paper provides a positive and normative discussion of the role of competition law – and competition authorities – in fostering or hampering innovation in regulated industries, specifically the telecommunications industry. I combine an analysis of recent EU and American case law with a...

Public policy debates about online child safety have raged since the earliest days of the Internet. Concerns about underage access to objectionable content (specifically pornography) drove early "Web 1.0" efforts to regulate the Internet, and it continues to be the topic of much discussion...

Recent firm-level surveys suggest that petty corruption is a serious problem for African firms, costing the average firm in many countries between 2.5 and 4.5 percent of sales. However, a minor difference in the way firms answer the question has a large effect on estimates of the size of the...

Regulatory agencies are potentially influenced by market characteristics and underlying incentives and use simplifying decision rules. When decision uncertainty increases, it is hypothesised that these influences become more apparent. This study investigates civil cases initiated by dissatisfied...