Since years, incentives for the management have become a standard upon acquisitions of companies by Private Equity Investors - so-called Buy-Outs. However, until this date there are no empirical studies available on the arrangements of management participations and potential conflicts of...

This paper analyzes the financing terms that support international trade and sheds light on how and why these arrangements affect trade. Using detailed transaction level data from a U.S. based exporter of frozen and refrigerated food products, primarily poultry, it begins by describing broad...

This paper uses evidence on policies, markets and private transactions to discuss the experience of natural gas infrastructure integration in the Southern Cone of Latin America. The argument is that contracts on international exchanges supported by infrastructure may become incomplete due to...

This paper analyzes the financing terms that support international trade and sheds light on how and why these arrangements affect trade. Using detailed transaction level data from a U.S. based exporter of frozen and refrigerated food products, primarily poultry, it begins by describing broad...

Class action, regulated by art. 140 of the Italian consumers’ code, is an important legal institution also related to pre-determination of payable damages.A recent class action, involving an Italian banking group, has been rejected by the Italian Court and provided the opportunity to address...

This entry for the forthcoming The New Palgrave Dictionary of Economics (Second Edition) surveys the economic analysis of five primary fields of law: property law; liability for accidents; contract law; litigation; and public enforcement and criminal law. It also briefly considers some...

International character of economic relations is in discrepancy with the limitation of their national legislation. During the whole last century and especially since World War II enormous grow of international trade created inevitable need for attempts of harmonization and even unification of...

The paper presents certain arguments, conclusions and theoretical and practical contributions regarding acceleration of implementing concepts characteristic to a modern management in public administration, and that are indispensable in the circumstances of the material changes that the Romanian...

This paper considers an approach for inducing cooperation in prisoner¡¯s dilemma. The approach is based on players individually committing to pay self-stipulated penalties for defection. We provide a complete characterization of self-stipulated penalties that are necessary and sufficient to...

The decision making of judges is prone to error and misapprehension. Consequently, the prevailing literature ties the economic function of courts to dispute resolution and minimization of rule making costs. In contrast to previous research, this analysis applies a contract theoretic perspective...