Microeconomic flexibility, by facilitating the process of creative-destruction, is at the core of economic growth in modern market economies. The main reason for why this process is not infinitely fast is the presence of adjustment costs, some of them technological, others institutional. Chief...

The Magna Carta of Women (R.A. 7910) is the Philippines comprehensive women's human rights law. The Magna Carta of Women is found to be consistent with Rawlsian notions of justice, particularly when it undertakes inequality evaluation in primary goods. Identity-based inequality evaluation is...

Google wird häufig als marktmächtig bezeichnet. Grund dafür ist ein mutmaßlicher Marktanteil von über 90% in manchen Ländern. Eine gründliche Marktabgrenzung im wettbewerbsrechtlichen Sinne liegt dieser Aussage aber nicht zugrunde. Was umfasst den 'Suchmarkt'? Wird z.B. zwischen Produkt-,...

It has been argued that competing banks make inefficiently frequent use of collateralization in situations where they are better able to evaluate a project's risk than entrepreneurs. We study the bank's choice between screening and collateralization in a model where banks do not have this...

Die Eurorettungsmechanismen können bei einem Ausfall von Euroländern dazu führen, dass Deutschland weitaus stärker haftet, als in der Öffentlichkeit wahrgenommen wird. Markus C. Kerber - Bevollmächtigter der Kläger gegen den ESM-Vertrag - quantifiziert hier die Haftungsrisiken...

We model the settlement of a legal dispute where the trial outcome depends on the behavior of a strategically motivated judge. We consider a standard asymmetric information model where the uninformed defendant makes a take it or leave it offer. If the case goes to trial, the judge decides how...

We conducted an experiment with 182 inmates from a maximum security prison to analyze the impact of criminal identity salience on cheating. The results show that inmates cheat more when we exogenously render their criminal identity more salient. This effect is specific to individuals who have a...

We conducted an experiment with 182 inmates from a maximum security prison to analyze the impact of criminal identity salience on cheating. The results show that inmates cheat more when we exogenously render their criminal identity more salient. This effect is specific to individuals who have a...

Until recently, theorists considering the evolution of human cooperation have paid little attention to institutional punishment, a defining feature of large-scale human societies. Compared to individually-administered punishment, institutional punishment offers a unique potential advantage: the...

Mit dem Ziel, neben den bestehenden ein eigenes europäisches Navigationssatellitensystem zu etablieren, hat sich die Europäische Union eine große Aufgabe gestellt. Das umfangreiche industrielle Beschaffungsprojekt stößt an viele vergaberechtliche und -politische Grenzen. Die...