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- Data portability and interoperability: An E.U.-U.S. comparison
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Abstract: Abstract Data portability (the ability to transfer data without affecting its content) and interoperability (the ability to integrate two or more datasets) significantly affect the use of data, with important implications for antitrust policy. Allowing for improved data portability can facilitate interoperability, which, in turn, will enable consumers to switch services, thereby substantially increasing competition. However, barriers to data portability and interoperability can increase market power and be a major source of social inefficiency. This paper lays out the pros and cons of a move towards requirements of data interoperability and portability and contrasts the move in the U.S. and in the EU.
PubDate: 2023-09-20
- On the sociology of cartels
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Abstract: Abstract We analyze 15 German cartels, focusing on the personal characteristics of the individual participants, the methods and frequency of communication as well as the internal organizational structures within the cartels and their eventual breakup. Our results indicate that cartel members are highly homogeneous and often rely on existing networks within the industry, such as trade associations. Most impressively, only two of the 158 individuals involved in these 15 cartels were female, suggesting that gender plays a role for cartel formation. We further identify various forms of communication and divisions of responsibilities and show that leniency programs are a powerful tool in breaking up cartels. Based on these results we discuss implications for competition policy and further research.
PubDate: 2023-08-29
- Corporate criminals in a market context: enforcement and optimal sanctions
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Abstract: Abstract By combining approaches from the economic theory of crime and of industrial organization, this paper analyzes optimal enforcement for three different forms of corporate misconduct that harm competition. The analysis shows why corporate crime is more harmful in large markets, why governments have a disinclination to sanction firms whose crime materializes abroad, and why leniency for those who self-report their crime is a complement, and not a substitute, to independent investigation and enforcement. As public authorities rely increasingly on self-reporting by companies to detect cartels, the number of leniency applications is likely to decline, and this is borne out by data. Upon a review of 50 cases of corporate liability from five European countries, competition law enforcement, governed by a unified legal regime, is more efficient than enforcement in bribery and money laundering cases, governed by disparate criminal law regimes. Sanction predictability and transparency are higher when governments cooperate closely with each other in law enforcement, when there are elements of supra-national authority, and when the offense is regulated by a separate legal instrument. Given our results, Europe would benefit from stronger supra-national cooperation in regulation and enforcement of transnational corporate crime, especially for the sake of deterrent penalties against crime committed abroad.
PubDate: 2023-08-18
- Litigation and settlement under loss aversion
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Abstract: Abstract In this paper, we investigate how loss aversion affects people’s behavior in private litigation. We find that a loss-averse plaintiff demands a higher settlement for intermediate claims to maintain her threat to proceed to trial following rejection compared to a loss-neutral plaintiff. For larger claims, a loss-averse plaintiff demands a lower offer to increase the settlement probability as loss pains her extra in trial. We also investigate how various policies affect loss-averse litigants’ settlement decisions. Only a reduction in the asymmetry of information about trial odds uniformly leads to higher settlement rates.
PubDate: 2023-08-15
- Does criminalizing the purchase of sex reduce sex-buying' Evidence from a
European survey on prostitution-
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Abstract: Abstract Whether to criminalize or legalize the purchase of sex has given rise to heated discussions and different policy initiatives. Opponents of the criminalization of sex-buying argue that prohibition pushes the sector underground, increasing the harm for women in prostitution. Proponents instead view prostitution as violence against women, calling for prohibition. Despite these debates, few studies examine the effect of prostitution laws on the quantity of sex bought. By employing unique data on attitudes to, and experiences of sex-buying behaviour in different prostitution regimes in eight European countries, the paper examines the relationship between prostitution law and sex-buying. The results are robust to the inclusion of a list experiment, and the findings suggest that people living in countries where purchasing sex is criminalized buy less sex than people living in countries where sex-buying is legal.
PubDate: 2023-08-13
- Law, human capital, and the emergence of free city-states in medieval
Italy-
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Abstract: Abstract This paper considers how the foundation of the first universities in Italy affected the emergence of free city-states (the communes) in the period 1000–1300 CE. Exploiting a panel dataset of 121 cities, we show that the time variant distance of the sample cities to their closest university is inversely correlated with the probability of their transition to communal institutions. Our evidence is consistent with the hypothesis that the medieval universities provided the useful juridical knowledge and skills for building legal capacity and developing communal institutions.
PubDate: 2023-08-06
- Motor Vehicle Registration Taxes (MVRT) across EU countries: MNEs’
profitability and the role of market concentration-
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Abstract: Abstract This paper discusses the effects of one-off Motor Vehicle Registration Taxes (MVRT) and market concentration level on the profitability of multinational enterprises (MNEs) operating in the European Union motor vehicle industry. Our simple theoretical framework shows that firm profits depend on the demand function and therefore on taxes applied to prices. We overcome empirically the challenges of making informative theoretical predictions on the pass-through rate under imperfect competition. We find that MVRT,—both as ad valorem taxes and as specific taxes,—have a significant negative effect on MNEs’ profitability. Our findings show a statistically significant positive effect of market concentration on profitability. Finally, our results suggest that the degree of competitiveness in the motor vehicle market moderates the effect of MVRT on firm profitability only in EU countries where the MVRT is an ad valorem tax, with the negative effect of the ad valorem MVRT becoming higher as the motor vehicle market becomes less competitive.
PubDate: 2023-07-19
DOI: 10.1007/s10657-023-09775-8
- Punishing terrorists in the Spanish Supreme Court: has ideology played any
role'-
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Abstract: Abstract Traditionally, the conventional views in legal and comparative literature portray civil-law judiciaries as legalistic bureaucracies insulated from political preferences. We investigate decisions on appeal for terrorist actions at the Spanish Supreme Court in the period 2000–2021. Our findings show that ideology (proxied by conservative/progressive affiliation of judges) is a predictor of prodefendant outcomes. Specifically, the results detect a pattern of behavior mediated by panel composition: a more conservative panel is less likely to be prodefendant than a more progressive panel in adjudicating terrorism criminal appeals. These findings confirm previous empirical studies about decisions by the Spanish Supreme Court in other areas of law and provide additional evidence to raise doubts about the conventional literature’s account of civil-law judiciaries.
PubDate: 2023-07-18
DOI: 10.1007/s10657-023-09776-7
- Data portability and competition: Can data portability increase both
consumer surplus and profits'-
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Abstract: Abstract We study how data portability affects consumer surplus and firms’ profits in a two-period model with a switching cost where two firms compete under a non-negative pricing constraint. The firms can circumvent the constraint by tying another complementary free service (called ”freebies”) with the original service. We consider a general framework of incomplete pass-through of freebies into consumer benefit, which includes the two extreme cases of no pass-through and full pass-through as special cases. Regarding the effect on consumer surplus, data portability involves a trade-off between intensifying competition after consumer lock-in and reducing rent dissipation before consumer lock-in. We find that for an intermediate range of pass-through rates, data portability increases both consumer surplus and profits.
PubDate: 2023-07-12
DOI: 10.1007/s10657-023-09774-9
- Freedom through taxation: the effect of fiscal capacity on the rule of law
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Abstract: Abstract This paper explores the effects of fiscal capacity on the rule of law. We view the question as a natural outgrowth of the stationary bandit model, that rulers are incentivized to make investments in public goods when they are able to extract wealth effectively. We test the relationship using fiscal capacity and rule of law data from the Varieties of Democracy dataset. We leverage the lengthy time-series found in the dataset by employing the dynamic common correlated effects (DCCE) estimator to supplement standard panel methods. Unlike the widely used fixed effects method, DCCE method adjusts for the presence of econometric issues including cross-sectional dependence, heterogeneous slopes, and unobservable common factors that plague the error-structure in panel data. We observe small, positive effects of fiscal capacity on the rule of law, but robustness checks lead us to conclude that our findings, overall, only weakly support the hypothesis.
PubDate: 2023-06-19
DOI: 10.1007/s10657-023-09772-x
- Assessment of formal proceedings and out-of-court reorganisation: results
from a survey among turnaround professionals in Austria-
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Abstract: Abstract This study analyses the decision criteria for a specific form of reorganisation in a creditor-friendly bankruptcy system such as that of Austria. From a neoinstitutional perspective, we present different forms of bankruptcy law and the specifics of reorganisation in Austria. Next, we show several distinctive criteria and influencing factors for formal reorganisation and workouts. We group these factors into constitutions and institutional settings, process and handling, and implementation of the reorganisation. Using a sample of 411 survey responses from turnaround professionals, our empirical study analyses the decision criteria for a specific form of reorganisation. We apply a multivariate approach comprising two-sided paired samples Wilcoxon tests to assess the derived hypotheses and a hierarchical cluster analysis. Our results indicate significant differences in the valuation of the two forms: the turnaround professionals rate public perception much higher for out-of-court reorganisation, whereas legal certainty is rated significantly better for formal proceedings. Regarding process and handling, transparency and the handling of blocking positions are arguments for formal reorganisation, whereas flexibility is valuated better for workouts. In terms of implementation, respondents see advantages for out-of-court reorganisation, as it facilitates the implementation of both financial and operational measures. Taxation, the handling of blocking positions, and the improvement of public perception were identified as key development aspects for the legal framework conditions of the various reorganisation forms.
PubDate: 2023-06-14
DOI: 10.1007/s10657-023-09771-y
- Cartel formation and detection: the role of information costs and
disclosure-
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Abstract: Abstract Firms that self-report cartels risk having their information exposed. If the costs associated with these risks are large then it will have a “chilling effect" on self-reporting. This effect can sustain cartels even without trigger strategies in a Bertrand duopoly. Thus, we show that disclosure rules, which determine how much information from AA proceedings is revealed publicly or to private plaintiffs, must be structured carefully to reduce this chilling effect. Further, if firms can hide information, they can strategically utilize this to sustain collusion. Accordingly, policies that limit information disclosure can fight cartels even though they make it harder for private plaintiffs to sue. Thus, disclosure rules must be structured in conjunction with self-reporting policies.
PubDate: 2023-06-13
DOI: 10.1007/s10657-023-09770-z
- Controlling for fixed effects in studies of income underreporting
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Abstract: Abstract The expenditure method of Pissarides and Weber (J Public Econ 39(1):17–32, 1989) shows how one backs out measure of income underreporting by the self-employed by using food consumption as trace of true income. In this paper we make a case for using panel data and fixed effects estimation in such analysis, instead of OLS estimation. The main argument is that fixed effects estimation addresses the problem of omitted variable bias in the identification. We demonstrate the use of panel data and fixed effects estimation by using large-scale administrative register data on charitable donations, exploiting that the data can be turned into a panel dataset. The results suggest that the estimation technique matters—fixed effects estimates are smaller than OLS estimates.
PubDate: 2023-06-09
DOI: 10.1007/s10657-023-09769-6
- How does public policy impact trafficking victimization': An exact
matching study in the EU-
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Abstract: Abstract Trafficking in human beings (THB) is a widespread, transnational issue in the European Union (EU). Member states act as source, transit, and destination countries for intra-EU trafficking, in addition to being a major destination region for external THB victims. This study presents a new dataset of THB victims observed in each EU member state per year and by type of exploitation going back as far as 2001 and employs exact matching methods to test the link between different prostitution policies and Roma secondary education attainment rates on observed THB victimization. The paper also builds off previous literature to compare how different legal prostitution models and THB supply factors are expected to influence various types of THB. The results indicate that legalized prostitution and lower educational attainment among the Roma community increase observed THB victimization, especially THB for the purpose of sexual exploitation. The paper does not find that the Swedish model significantly increases or decreases observed THB victimization. In demonstrating how matching methods can be utilized to uncover policy patterns in THB outcomes, this study provides a blueprint for how other hidden phenomena, such as corruption or migration, can be robustly and empirically tested.
PubDate: 2023-06-03
DOI: 10.1007/s10657-023-09768-7
- Net neutrality and high-speed broadband networks: evidence from OECD
countries-
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Abstract: Abstract Network neutrality regulations are intended to preserve the Internet as a non-discriminatory, public network and an open platform for innovation. Whereas the U.S. reversed its regulations in 2017, returning to a less strict regime, the EU has maintained its course and recently revised implementation guidelines for its strict and rather interventionist net neutrality regulations. To this day, there exist only a few empirical investigations on the impact of network neutrality regulations, based on rather broad measures of investment activities for individual countries. Our paper provides the first estimation results on the causal impact of net neutrality regulations on new high-speed (fiber-optic cable-based) infrastructure investment by Internet service providers. We use a comprehensive and most recent OECD panel data set for 32 countries for the period from 2000 to 2021 covering the entire high-speed broadband network deployment period. We employ various panel estimation techniques, including instrumental variables estimation. Our empirical analysis is based on theoretical underpinnings derived from a simplified model in a two-sided market framework. We find empirical evidence that net neutrality regulations exert a significant and strong negative impact on fiber investments. Our results suggest that, while we cannot provide evidence on the overall welfare consequences of net neutrality, imposing strict net neutrality regulations clearly slow down the deployment of new fiber-based broadband connections.
PubDate: 2023-06-01
DOI: 10.1007/s10657-022-09754-5
- Ethnogenesis and statelessness
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Abstract: Abstract The process of ethnogenesis (i.e., the formation of new ethnic groups) is here considered equivalent to the production of “governance goods” in situations where the state is weak or absent. In these cases, the process of ethnogenesis is a response to (1) the problem of social distance between heterogeneous groups which functions as a barrier to trade, and (2) the problem of providing public goods. As an investment in governance, ethnogenesis reduces the costs of trading and cooperating, and expands the scope for specialization. We rely on two examples of peaceful and productive relations between First Nations and European settlers in Canada between the early seventeenth and mid-nineteenth centuries to support our hypothesis. The emergence of “hybrid” cultural groups and identities fostered peaceful relations and facilitated trade in borderland areas in which state rule was virtually nonexistent. It also permitted these new groups to provide key collective goods within their own communities. This, in turn, facilitated international trade (especially in furs). Both of our examples suggest that cultural processes can be endogenous responses aimed at the production of governance.
PubDate: 2023-05-07
DOI: 10.1007/s10657-023-09767-8
- Profiling restrictions in a model of law enforcement and strategic crime
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Abstract: Abstract We develop a game-theoretic model of strategic crime in which a criminal organization chooses the profile of the operative it recruits to carry out illegal activities and a law enforcement agency allocates screening capacity across different population groups. Our model incorporates heterogeneity in both criminal effectiveness and recruitment costs across population groups. Restricting the use of profiling by law enforcement officers prevents them from adopting the best response to the criminal organization’s recruitment strategy. But, rather than simply leaving law enforcement worse off, the restrictions can change the recruitment patterns of the criminal organization in ways that could have positive or negative effects on the total amount of successful criminal activity. We formally explore these mechanisms. Whether profiling restrictions reduce crime depends on how different types of heterogeneity across population groups are aligned. When profiling restrictions do reduce crime, weak restrictions on the use of profiling are generally more effective than strong restrictions.
PubDate: 2023-04-18
DOI: 10.1007/s10657-023-09766-9
- Does commercial court organisation affect firms’ bankruptcy rate'
evidence from the french judicial reform-
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Abstract: Abstract The aim of this paper is to evaluate the impact of the 2010 French judicial reform of commercial courts on firms’ financial bankruptcy rate at the municipality level. The research is based on a panel dataset containing microdata between 2004 and 2015, taken from Banque de France and the French National Institute of Statistics. We use a difference-in-differences analysis comparing the economic behaviour of firms in municipalities where the reform was implemented with those where it was not before and after the reform. The econometric findings indicate that municipalities that changed commercial courts because of the reform experienced a decrease in firms’ bankruptcy rate but that changing the judicial map did not impact the arbitrage between liquidation and reorganisation of the insolvent companies. Some policy implications conclude the work.
PubDate: 2023-04-02
DOI: 10.1007/s10657-023-09765-w
- Organized crime as a link between inequality and corruption
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Abstract: Abstract We study a model that establishes a novel theoretical rationale for the empirically well-documented relation between inequality and corruption. According to our model, inequality can nurture corruption by empowering organized crime because collusion between local police forces and criminal organizations is more likely in societies characterized by high inequality or weak security forces. Law enforcement and organized crime have a strong incentive to collude due to efficiency gains from specialization. However, their agreement breaks down when the mobsters can no longer credibly commit to joint rent maximization and thus start to compete with law enforcement for citizens’ wealth. The mobsters then non-violently monopolize the market for extortion by undercutting the police forces, similar to a strategy of predatory pricing. Criminal collusion is thus not very different from its corporate equivalent; hence, similar policy measures should be promising. In addition, our model also suggests that the criminal organization’s higher efficiency in extracting rents has a greater impact when the relative power between law enforcement and organized crime is rather balanced. Accordingly, when violent conflict becomes less predictable, non-violent elements of relative power become more relevant. Our model also allows for the interpretation that in the absence of strong social norms against corruption, organized crime is more difficult to challenge.
PubDate: 2023-03-23
DOI: 10.1007/s10657-023-09764-x
- Financial market enforcement in France
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Abstract: Abstract This article puts into perspective enforcement as conducted by the French Financial Market Authority since its creation in 2003 until 2021 with respect to the current state of the literature on financial crimes. The three main channels of action are exhaustively surveyed: sanctions, settlements (since 2012), and alerts (since 2010). The sample is comprised of 393 sanctions standing for cumulated 371 million euros of fines, of 86 settlements standing for cumulated 13 million euros of fines, and of 194 alerts. The article also underlines the complex challenges of information acquisition regarding financial crimes, despite increased efforts of enforcers in terms of transparency. Financial innovations and internationalization of financial markets also contribute to challenge enforcement. This review is supplemented by investigating the translation of regulatory changes into the verdicts for breaking the law, measured as the fines. The results stress that the majority of legal criteria introduced in 2016 were already accounted for, with room for improvement for enforcers and defendants. The ultimate goal of this article is to fuel regulatory debates on how to enforce financial regulations more efficiently in light of the recent history, in a European and globalized context.
PubDate: 2023-03-04
DOI: 10.1007/s10657-023-09761-0
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