This paper makes two contributions to the literature on terrorism: 1) It presents a model that explains the cyclical characteristics of terrorist attacks, and 2) It improves on the existing theoretical cyclical models since it takes explicitly into account terrorists' motivations and...

Ransoms paid to Somali pirates are drifting upward and negotiation times are increasing, yet there is huge variation in bargaining outcomes across shipowners. We use a unique dataset of 179 Somali hijackings, and an underlying theoretical model of the bargaining process based on detailed...

The size of crime's burden informs the prioritization of crime-prevention efforts and influences our legal, political, and cultural stance toward crime. This research quantifies crime's burden with an estimate of the annual cost of crime in the United States. While most existing studies focus on...

In most jurisdictions, antitrust fines are based on affected commerce rather than on collusive profits, and in some others, caps on fines are introduced based on total firm sales rather than on affected commerce. We uncover a number of distortions that these policies generate, propose simple...

This study examines short- and long-run effects of a new—stricter—road traffic law on traf- fic accident-related fatalities in the Czech Republic. The law introduced tougher punishments through the introduction of a demerit point system and a manifold increase in fines, together...

Analyzing law enforcement data on corruption incidents for a panel of 79 Russian regions for the period 2004-2007, we find that the relative salaries of bureaucrats determine corruption levels: Corruption declines as relative salaries rise up to a turning point, beyond which corruption rises...

Purpose – The purpose of this paper is to examine in detail the positive and negative aspects of selected soft law initiatives and the relevance of hard laws in the pursuit of corporate social responsibility (CSR). Design/methodology/approach – Soft law initiatives are categorized into...

During the transition from plan to market, managers and politicians succeeded in maintaining control of large parts of the stock of socialist physical capital. Despite the obvious importance of this phenomenon, there have been no efforts to model, measure and investigate this process...