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Is Transparency a Blessing or a Curse? An Experimental Horse Race Between Accountability and Extortionary Corruption Int. Rev. Law Econ. (IF 0.9) Pub Date : 2024-02-29 Christoph Engel, Eyal Zamir
If it is disclosed to a citizen which public official handles her case, this creates accountability. If the official abuses her authority, the citizen can report this misconduct to higher authority, which can intervene. But transparency also makes it possible for a citizen to pressure an official to decide in her favor. We model this interaction as a sequential game, and define which behavioral effects
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Elective Corporate Governance: Does Board Choice Matter?✰ Int. Rev. Law Econ. (IF 0.9) Pub Date : 2024-02-28 Martin Gelter, Mathias Siems
Recent literature discusses how “menu laws” allow corporations to opt into one of multiple competing statutory regimes. This paper contributes to this literature by presenting original empirical research on the choice between corporate board models. Today, many countries not only allow modifications of a particular board structure, but they provide separate legal templates, giving firms a choice between
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Did the French reform of the judicial map affect conciliation activities? Int. Rev. Law Econ. (IF 0.9) Pub Date : 2024-01-18 Matthieu Belarouci, Nicolas Vaillant, François-Charles Wolff
In France, the reform of the judicial map, initiated in mid-2007 and completed in 2010, led to a large reduction in the number of courts of first instance, from almost 500 to around 300. This led to an increase of about eight kilometers in the distance litigants should travel to courts in the treated jurisdictions. In this paper, we examine the impact of this reform on conciliation activity. We use
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Inequality snowballing Int. Rev. Law Econ. (IF 0.9) Pub Date : 2024-01-03 Daniel Giraldo Paez, Zachary Liscow
It has long been argued that efficient policies tend to provide larger legal entitlements to the rich than to the poor. This article shows how efficient legal rules can become even more skewed against the poor over time by sowing the seeds of their own vicious cycles. Repeated application over time of these rules can lead to increasingly adverse outcomes for the poor, which the article calls “policy
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Proposal convergence and settlement under final offer arbitration Int. Rev. Law Econ. (IF 0.9) Pub Date : 2023-12-07 Amy Farmer, Paul Pecorino
Under final offer arbitration (FOA), each party to the dispute submits a proposal to the arbitrator who must choose one of the two submitted proposals in the event an agreement is not reached. A long line of research on FOA has assumed that the submitted proposals to the arbitrator are the final bargaining positions of the parties to the dispute. One consequence of this assumption has been a focus
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Settled: Patent characteristics and litigation outcomes in the pharmaceutical industry Int. Rev. Law Econ. (IF 0.9) Pub Date : 2023-10-21 Kiefer Ahn, Antonio Trujillo, Jason Gibbons, Charles L. Bennett, Gerard Anderson
A pharmaceutical company that seeks to produce a generic version of a brand drug before patent expiration can trigger a Paragraph IV litigation. However, generic and brand companies may avoid litigation through settlement, which sometimes involves payment to the generic company to delay generic entry. This behavior would be problematic if the settlement option was used to protect patents with low social
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Non-compliance of the European Court of Human Rights decisions: A machine learning analysis Int. Rev. Law Econ. (IF 0.9) Pub Date : 2023-10-21 Engin Yıldırım, Mehmet Fatih Sert, Burcu Kartal, Şuayyip Çalış
The paper investigates all (971) non-executed pending leading cases of the European Court of Human Rights (ECtHR) between 2012 and 2020 through Machine Learning (ML) techniques. Drawing on the extant scholarship, our interest on compliance has centred on state level and case level variables. For the identification of important variables, four databases have been used. Each country party to the European
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Dynamics in environmental legislation Int. Rev. Law Econ. (IF 0.9) Pub Date : 2023-10-18 Nicolae Stef, Arvind Ashta
We analyze environmental laws and regulations enacted by 125 countries from 1990 to 2021. An examination of the legislation dynamics yields four principal observations. First, countries with a higher degree of development tend to enact more environmental legislation than less developed countries. Second, parliamentary systems are associated with a higher number of environmental regulations compared
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Liability and the incentive to improve information about risk when injurers may be judgment-proof Int. Rev. Law Econ. (IF 0.9) Pub Date : 2023-10-11 Till Requate, Tim Friehe, Aditi Sengupta
We analyze an injurer’s incentives to improve her information about accident risk. In contrast to the preceding literature, injurers can continuously improve their understanding of the expected harm their activity will impose on others. Regarding social incentives, the marginal benefit from improved risk information is increasing, possibly making either no or a perfect understanding of risk socially
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Response to “Contracting for sex in the Pacific War” by J. Mark Ramseyer Int. Rev. Law Econ. (IF 0.9) Pub Date : 2023-08-09 Yoshiaki Yoshimi, Emi Koyama, Norma Field, Tomomi Yamaguchi
This paper critically examines J. Mark Ramseyer’s "Contracting for sex in the Pacific War," published in the International Review of Law and Economics, Volume 65, March 2021, Article 105971.
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Mutual optimism and risk preferences in litigation Int. Rev. Law Econ. (IF 0.9) Pub Date : 2023-08-01 Keith N. Hylton
Why do some legal disputes fail to settle? From a bird’s eye view, the literature offers two categories of reasons. One consists of arguments based on informational disparities. The other consists of psychological arguments. This paper explores the psychological theory. It presents a model of litigation driven by risk preferences and examines the model’s implications for trials and settlements. The
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Ethnolinguistic diversity, quality of local public institutions, and firm-level innovation Int. Rev. Law Econ. (IF 0.9) Pub Date : 2023-07-20 Chiara Natalie Focacci, Mitja Kovac, Rok Spruk
Institutional quality is crucial for innovation and economic growth. In this article, we exploit historical linguistic differences across Slovenian municipalities between the Italian, German, and Slovenian-speaking population prior to World War 1, as a plausible exogenous source of variation in firm-level innovation to estimate the effect of institutional quality on innovation. Employing a set of limited
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When more isn’t always better: The ambiguity of fully transparent judicial action and unrestricted publication rules Int. Rev. Law Econ. (IF 0.9) Pub Date : 2023-07-06 Florian Baumann, Frank Fagan
Unrestricted publication of judicial opinions and full transparency of judicial action are often considered a means to increase information relevant for future litigants and public discourse. In this paper, we analyze a model that captures the potential for unintended consequences of such policies. Under certain conditions, unrestricted publication of judicial opinions, full transparency of judicial
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Market for artificial intelligence in health care and compensation for medical errors Int. Rev. Law Econ. (IF 0.9) Pub Date : 2023-06-27 Bertrand Chopard, Olivier Musy
We study the market for AI systems that are used to help to diagnose and treat diseases, reducing the risk of medical error. Based on a two-firm vertical product differentiation model, we examine how, in the event of patient harm, the amount of the compensation payment, and the division of this compensation between physicians and AI system producers affects both price competition between firms, and
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Recourse restrictions and judicial foreclosures: Effects of mortgage law on loan price and collateralization Int. Rev. Law Econ. (IF 0.9) Pub Date : 2023-06-09 Ana Isabel Sá
Borrower-friendly laws, such as recourse restrictions and judicial foreclosures, impose higher costs and risks to lenders. Yet, there is little evidence on how lenders transfer them to borrowers at the mortgage origination. By exploiting the mortgage law heterogeneity across U.S. states, I show that recourse restrictions trigger a collateral channel, through which lenders require a 1.6 to 1.9 percentage
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Law and inequality: A comparative approach to the distributive implications of legal systems Int. Rev. Law Econ. (IF 0.9) Pub Date : 2023-05-23 Illan Barriola, Bruno Deffains, Olivier Musy
The literature on legal traditions focuses on the comparative macroeconomic effects of legal systems, concentrating on efficiency alone and leaving distributive issues to taxation. However, a country’s legal structure also conditions the primary distribution of income and may have a comparative advantage over taxation as a distributive instrument. We use cross-section and panel estimates to show that
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Estimating the effect of U.S. concealed carry laws on homicide: A replication and sensitivity analysis Int. Rev. Law Econ. (IF 0.9) Pub Date : 2023-05-15 Matthew V. Bondy, Samuel V. Cai, John J. Donohue
In this article, we perform sensible robustness checks and estimation techniques that are broadly applicable to researchers studying the effects of concealed carry laws and apply them to recent work by Moody and Lott (2022). While Moody and Lott claim to have found that shall-issue and permitless-carry laws reduce homicide using data ending in 2014, our event-study analysis demonstrates that their
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Variability in punishment, risk preferences and crime deterrence Int. Rev. Law Econ. (IF 0.9) Pub Date : 2023-05-12 Mario Menegatti
This work studies for the first time the effect on crime deterrence of variability in punishment under different assumptions on criminals risk preferences. We show that when criminals are risk averse, greater variability in punishment reduces the incentive to commit crimes, and that the opposite holds in the case of risk loving. The linkages between certainty of punishment, initial wealth and the incentive
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Which companies pay more (or less) in legal fees? An empirical study of India Int. Rev. Law Econ. (IF 0.9) Pub Date : 2023-04-15 Srinivasan Sankaraguruswamy, Umakanth Varottil
Although the demand for corporate legal services has grown significantly, so has the pressure on companies to reduce legal costs, thereby necessitating a “data-and-metrics” driven approach to legal fees. Accordingly, we exploit the availability of a unique dataset comprising legal fees that Indian corporations have spent over a 30-year period from 1990 to 2020. We undertake the first cross-sectional
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Advance disclosure of insider transactions: Empirical evidence from the Vietnamese stock market Int. Rev. Law Econ. (IF 0.9) Pub Date : 2023-03-12 Jérémie Lefebvre, Paolo Mazza
We investigate the impact of legal insider trading announcements on stock returns in Vietnam. Vietnamese insiders must announce their trading intentions in advance as well as after the actual trade, which contrasts with the vast majority of countries where only post-trade announcement is mandatory. This regulatory setting allows to put to test the predictions from the theoretical models of advance
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The effect of opioids on crime: Evidence from the introduction of OxyContin Int. Rev. Law Econ. (IF 0.9) Pub Date : 2023-02-28 Yongbo Sim
Since the late 1990s, the U.S. has experienced a substantial rise in drug overdose and overdose deaths due to the increased use of opioid drugs. This study estimates the effects of the opioid epidemic on crime relying for identification on geographic variation in the distribution of OxyContin, which in turn was driven by initial state drug prescription policies. Using Uniform Crime Reports (UCR) data
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Counteracting offshore tax evasion: Evidence from the foreign account tax compliance act Int. Rev. Law Econ. (IF 0.9) Pub Date : 2023-01-27 Carmela D’Avino
This paper aims to investigate the effect of the Foreign Account Tax Compliance Act (FATCA) on the deposits held by US global banks through their branches located around the world. Using an unpublished dataset on deposits held by branches of US banks on a geographically unconsolidated basis, we find that the FATCA led to a reduction in deposits held in branches located in tax havens. We find that this
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Judicial compliance in district courts Int. Rev. Law Econ. (IF 0.9) Pub Date : 2023-01-21 Daniel L. Chen
Are judges motivated only by policy preferences? Public enforcement of law relies on the use of public agents, such as judges, to follow the law. We use the random assignment of U.S. Federal judges setting geographically-local precedent to document the causal impact of court decisions in a hierarchical legal system. We examine lower court cases filed before and resolved after higher court decisions
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Comments on “Contracting for sex in the Pacific War” by Mark Ramseyer Int. Rev. Law Econ. (IF 0.9) Pub Date : 2023-01-16 Eyal Winter
Abstract not available
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The dominance of skill in online poker Int. Rev. Law Econ. (IF 0.9) Pub Date : 2022-12-14 Jerome Hergueux, Gabriel Smagghue
Does skill dominate luck in online poker? In many countries around the world, the legality of the online poker industry rests on courts’ evaluation of the “skill dominance” criterion. Because it is not precisely defined, however, the skill dominance criterion may be misleading when it comes to the legal qualification of online gambling activities. We argue that this concept might be better framed as
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The Coase Theorem and the empty core: Inspecting the entrails after four decades Int. Rev. Law Econ. (IF 0.9) Pub Date : 2022-12-09 Varouj A. Aivazian, Jeffrey L. Callen
Ronald Coase pioneered the transaction cost approach to the modern analysis of institutions, contracts, and property rights. We argue that core theory enhances Coase’s transaction cost approach by injecting considerations of coalition formation and stability into the analysis. Analysis of coalitional stability also provides additional insights regarding the nature of transaction costs and the efficiency
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Law enforcement with rent-seeking government under voting pressure Int. Rev. Law Econ. (IF 0.9) Pub Date : 2022-12-07 Ken Yahagi, Yohei Yamaguchi
This paper investigates how political accountability with voting pressure disciplines rent-seeking behaviors of the government (i.e., fine revenue maximization) by incorporating a two-period retrospective voting model into a law enforcement setting. For minor/major crimes where the pure rent-seeking enforcement is too strict/weak, the democratic process that provides disciplining incentives (e.g.,
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Incentives for investments in defensive technology: An economic analysis of the Safety Act Int. Rev. Law Econ. (IF 0.9) Pub Date : 2022-11-24 Mattias K. Polborn
Civilian targets of terrorist or criminal attacks (e.g., sport stadiums, chemical or nuclear industry; infrastructure such as ports or pipelines) are often owned by the private agents who choose how to guard against potential attacks. This creates an important externality problem, as some of the benefits of better protection accrue to other private agents who would suffer from an attack. We analyze
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A macrohistory of legal evolution and coevolution: Property, procedure, and contract in early-modern English caselaw Int. Rev. Law Econ. (IF 0.9) Pub Date : 2022-11-14 Peter Grajzl, Peter Murrell
We provide a quantitative macrohistory of the evolution and coevolution of three fundamental elements of English caselaw: property, contract, and procedure. Our dataset is derived from a comprehensive corpus of reports on early-modern English court cases. Leveraging existing topic-model estimates, we construct annual time series of attention to each of the three legal domains between the years 1552
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How stock market reacts to environmental disasters and judicial decisions: A case study of Mariana’s dam collapse in Brazil Int. Rev. Law Econ. (IF 0.9) Pub Date : 2022-11-02 T.P. Assis, F.F. Cordeiro, L.C. Schiavon
This study examines the stock market reaction to one of the major environmental disasters of the world mining industry: the Mariana dam collapse in Brazil. Based on an event study, we evaluated the impact on the mining companies’ abnormal returns surrounding the disaster and also investigated whether post-event judicial decisions affected the companies. Our results show a significant negative effect
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Taxing banks leverage and syndicated lending: A cross-country comparison Int. Rev. Law Econ. (IF 0.9) Pub Date : 2022-10-31 A. Burietz, S. Ongena, M. Picault
Between 2010 and 2012 and with bank stability as the ultimate target, five European countries implemented a tax levy on banks’ liabilities thereby decreasing the cost of equity relative to the cost of debt. Using a difference-in-differences approach we assess the impact of this tax levy on banks’ participation in the syndicated loan market. We further investigate the impact of the tax levy along bank
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District attorney compensation and performance Int. Rev. Law Econ. (IF 0.9) Pub Date : 2022-10-30 Gregory DeAngelo, Bryan C. McCannon, Morgan Stockham
We attempt to identify the causal effect of wages on a prosecutor’s effort by studying an exogenous salary increase in New York. We measure the performance by the likelihood that a conviction is upheld when appealed. If the efficiency wage theory explains behavior, then the exogenous wage shock should entice better performance. Alternatively, if individuals who hold office are motivated primarily by
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Time to resolve insolvency and political elections Int. Rev. Law Econ. (IF 0.9) Pub Date : 2022-10-30 Nicolae Stef, Sami Ben Jabeur, Robert F. Scherer
Theories on electoral accountability argue that politicians have strong incentives to avoid punishment from voters for poor administrative abilities. As their chances of reelection can be harmed by failure of businesses, politicians may encourage the speed up of insolvency proceedings to mitigate the voters’ punishment before the elections. Using a sample of 82 countries covering the period 2005–2017
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Girls Just Wanna Have Funds? The effect of women-friendly legislation on female-led firms’ access to credit Int. Rev. Law Econ. (IF 0.9) Pub Date : 2022-10-17 Jérémie Bertrand, Caroline Perrin
Does a women-friendly legal environment help women overcome discrimination in credit markets? By examining antidiscrimination laws and their implications for women-led businesses' access to credit in 124 countries, the current study differentiates an effect on discouragement (i.e., not asking for credit when they need it, demand side) and an effect on the probability that they obtain credit (supply
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Spatial and temporal correlations of crime in Detroit: Evidence from spatial dynamic panel data models Int. Rev. Law Econ. (IF 0.9) Pub Date : 2022-10-14 Xu Lin, Jihu Zhang, Shanhe Jiang
Since the infamous riot of 1967, high crime rates and negative media reports have labeled the city of Detroit as one of the most dangerous cities in the United States. Using a Spatial Dynamic Panel Data model with both individual and time fixed effects to capture the unobserved heterogeneity as well as the time varying common factors, we investigate the spatial and temporal interactions of criminal
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Borrowers’ discouragement and creditor information Int. Rev. Law Econ. (IF 0.9) Pub Date : 2022-09-27 Jérémie Bertrand, Paolo Mazza
Bank discouragement is one of the most important factors preventing firms from accessing credit. This discouragement stems from strong information asymmetry between firm and bank. To reduce this asymmetry, the latter can either gather information from the firm or access public information on the firm through credit databases. We argue that the presence of credit bureaus, set up by the regulator, which
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Do women drive corporate social responsibility? Evidence from gender diversity reforms around the world Int. Rev. Law Econ. (IF 0.9) Pub Date : 2022-09-30 Rong Ding, Tinghua Duan, Wenxuan Hou, Xianda Liu, Ziwei Xu
In this study we investigate the effect of female director on corporate social responsibility (CSR) by taking the advantage of the introduction of legal gender quota that led to the exogenous change in the female representation in corporate board around the world. We find that the “gender quote” reforms effectively increase gender diversity and improve CSR performance. When comparing the legislation-based
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Citizens united and individual sovereignty: A fresh perspective Int. Rev. Law Econ. (IF 0.9) Pub Date : 2022-09-29 Uriel Procaccia, Eyal Winter
In recent years super-PACs jumped into the political fray by making significant donations to political parties and candidates thus tilting political outcomes to suit their agendas. Super-PACs raise their money from individuals and corporations and spend it to promote their cause. Numerous commentators studied their impact on the American political landscape and highlighted its implications from a constitutionally
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Consent or coordination? assemblies in early medieval Europe Int. Rev. Law Econ. (IF 0.9) Pub Date : 2022-09-14 Andrew T. Young
The standard political economy narrative of representative assemblies in Western Europe is one of political bargaining and credible commitments. Monarchs sought to bargain with the leading men of the realms, exchanging their commitments on various policies for revenues and other resources. This narrative has been forcibly challenged by Boucoyannis (2015, 2021) who points out that, in the High Middle
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Crime and the Mariel Boatlift Int. Rev. Law Econ. (IF 0.9) Pub Date : 2022-09-17 Alexander Billy, Michael Packard
We describe crime attributable to the Mariel Boatlift, the 1980 Cuban refugee crisis that increased Miami’s population by nearly 10%. Using synthetic control methods to match Miami with cities that exhibit similar pre-intervention crime patterns, we find the phenomenon comparatively increased property crime and murder rates; we also document weaker but suggestive relative growth in violent crime. Compositional
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Is it the firm, the innovator, or the innovation? Determinants of perceived non-imitability leading to unprotected intellectual property Int. Rev. Law Econ. (IF 0.9) Pub Date : 2022-09-07 Marilena Vecco, Nikos Georgantzis, Pieter Kroonenberg
Why are innovators in creative industries often not concerned about their unprotected intellectual properties? Based on a unique dataset obtained from an extensive survey among one, two and three-starred Italian chefs, we explore the determinants of a creator’s lack of concern about the imitation of their innovations. Several determinants are identified. We confirm that the lack of fear of imitation
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The value of fiduciary duties: Evidence from en bloc sales in Singapore Int. Rev. Law Econ. (IF 0.9) Pub Date : 2022-08-23 Jianfeng Hu, Kelvin F.K. Low, Wei Zhang
This paper examines the impact of fiduciary duties on collective asset sales in the case of owners acting as delegates for other owners, thereby potentially inducing conflicts of interests. Our identification strategy exploits a unique legal shock in Singapore, which established fiduciary duties in those transactions in the real estate market known colloquially as en bloc sales. The imposition of fiduciary
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ON THE DECLINE IN STATE POPULATION DISTRIBUTION: A COASEAN ROLE FOR SECTION 111 OF THE AUSTRALIAN CONSTITUTION? Int. Rev. Law Econ. (IF 0.9) Pub Date : 2022-08-18 Benjamen Franklen Gussen
Since Federation,2 the ratio of people living outside capital cities to those living within these cities have been declining in all six States. Historically, Australia opted for a regulatory approach that favoured in favouring satellite towns around state capitals, such as Newcastle and the Gold Coast, over the alternative of decentralised regional urban centres, such as Wagga Wagga or Townsville.
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Bias in media coverage of antitrust actions Int. Rev. Law Econ. (IF 0.9) Pub Date : 2022-08-09 Juan Luis Jiménez, Jordi Perdiguero, Inmaculada Gutiérrez
One of the main goals of competition authorities is to deter anticompetitive practices. That is one of the reasons why antitrust decisions are made public: to reinforce the deterrence effect, as the impact of the mass media on public opinion may affect firms’ reputations. Our empirical strategy focuses on identifying how the nature of specific antitrust actions by competition authorities affects the
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Mandatory employee board representation: Good news for family firms? Int. Rev. Law Econ. (IF 0.9) Pub Date : 2022-07-26 François Belot, Timothée Waxin
We assess the corporate performance and corporate governance consequences of mandatory employee board representation through a natural experiment: the passage of the 2015 Rebsamen law in France, which requires 1 or 2 board seats to be allocated to employee representatives. We hypothesize that such formal institutional arrangements to give workers a voice in corporate governance are irrelevant for family
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Optimal standards of proof in antitrust Int. Rev. Law Econ. (IF 0.9) Pub Date : 2022-07-04 Murat C. Mungan, Joshua Wright
Economic analyses of antitrust institutions have thus far focused predominantly on optimal penalties and the design of substantive legal rules, and have largely ignored the standard of proof used in trials as a policy tool in shaping behavior. This neglected tool can play a unique role in the antitrust context, where a given firm may have the choice to engage in exceptional anticompetitive or procompetitive
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An ounce of prevention, a pound of cure: The effects of college expansions on crime Int. Rev. Law Econ. (IF 0.9) Pub Date : 2022-06-26 Hamid Noghanibehambari, Nahid Tavassoli
In this paper, we argue that the availability of colleges incentivizes college enrollment and, by increasing the opportunity cost of incarceration, it has the potential to reduce crime. We provide empirical evidence from college expansions in the US over the years 1974–2019 and implement a triple-difference identification strategy to compare the arrest rates of different age groups over time in counties
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Corrigendum to “The Priest-Klein hypotheses: Proofs and generality” [Int. Rev. Law Econ. 48 (2016) 59–76] Int. Rev. Law Econ. (IF 0.9) Pub Date : 2022-06-28 Yoon-Ho Alex Lee, Daniel Klerman
Abstract not available
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Using experimental evidence to improve delegated enforcement Int. Rev. Law Econ. (IF 0.9) Pub Date : 2022-06-25 Lenka Fiala, Martin Husovec
Digital content today is governed by online providers like Facebook or YouTube. Increasingly, these providers are expected to enforce the law by removing illegal content, such as copyright infringement or hate speech. Typically, once they are notified of its existence, they have to assess it and, if infringing, remove it. Otherwise, they face liability. This system of content moderation is a form of
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Lost in election. How different electoral systems translate the voting gender gap into gender representation bias Int. Rev. Law Econ. (IF 0.9) Pub Date : 2022-06-24 Matteo Migheli
The voting gender gap characterises several countries and is likely to translate into the composition of elected assemblies and governments. Starting from the given preferences of the electors, different electoral rules may translate this gap into different outcomes in terms of parliament composition. To amplify or attenuate this gap results in generating a sort of gender representation bias. This
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A panel-based proxy for gun prevalence in US and Mexico Int. Rev. Law Econ. (IF 0.9) Pub Date : 2022-06-23 Daniel Cerqueira, Danilo Coelho, John J. Donohue, Marcelo Fernandes, Jony Pinto Junior
There is a consensus that the proportion of suicides committed with a firearm is the best proxy for gun ownership prevalence. Cerqueira et al. (2018) exploit socioeconomic characteristics of suicide victims in order to develop more refined prevalence indicators. They rest on location fixed effects of the victim's place of residence from a discrete-choice model for the likelihood of committing suicide
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Prosecutors, judges and sentencing disparities: Evidence from traffic offenses in France Int. Rev. Law Econ. (IF 0.9) Pub Date : 2022-05-25 Alessandro Melcarne, Benjamin Monnery, François-Charles Wolff
While there is widespread evidence that sentences for similar cases tend to differ across courts, the production of sentencing disparities by prosecutors versus judges has received very limited attention to date. In this paper, we focus on this issue using traffic offenses data from neighboring courts in South-East France. First, we measure disparities for observably similar cases both at the extensive
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The performance of corporate legal insider trading in the Korean market Int. Rev. Law Econ. (IF 0.9) Pub Date : 2022-05-23 Paolo Mazza, Benjamin Ruh
In this paper, we investigate the performance of corporate legal insiders in the Korean market from January 2010 to December 2020. This market has received very little attention from the academic community, while being one of the leading emerging economies. As per prior studies, we consider mainly buy transactions in order to draw robust conclusions as to insiders’ performance, since sales transactions
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Seemingly irrelevant information? The impact of legal team size on third party perceptions Int. Rev. Law Econ. (IF 0.9) Pub Date : 2022-05-14 Gilles Grolleau, Murat C. Mungan, Naoufel Mzoughi
People often appear to use irrelevant information in forming judgments about others. Using survey experiments, we show that seemingly irrelevant facts may actually be informative of actors’ choices, which third parties can use to update their beliefs. Specifically, we show that subjects’ perceived severity and recommended punishment for offenses are significantly increasing in the number of lawyers
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