The public arrest of Adelphia executives on July 24, 2002 signaled tougher enforcement of laws against corporate crime. On that day and the two following days, foreign firms experienced a cumulative 1.7% decline in value. Relative to domestic firms, the loss was a much larger 4.5%. The expected...

Awarding a grand prize to the player who wins most often in a series of contests links the contests together and makes incentives in the current contest depend upon past performance. A lucky player who wins early faces relatively stronger incentives to exert effort because of his early success....

One important function of bargaining cooperatives is alleged to be guaranteeing a market for their members. We characterize this function as deterring opportunistic behavior by producers and processors operating under forward contracts. We then examine actual contracts of bargaining cooperatives...

[fre] Alors même que la production sous contrat avait tenu une place importante dans l'agriculture américaine durant de longues années, les économistes ont récemment montré un regain d'intérêt pour l'étude et la compréhension de ce phénomène. L'objet de cetarticle est de...