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  Subjects -> ARCHAEOLOGY (Total: 300 journals)
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European Journal of Law and Economics
Journal Prestige (SJR): 0.375
Citation Impact (citeScore): 1
Number of Followers: 51  
 
  Hybrid Journal Hybrid journal (It can contain Open Access articles)
ISSN (Print) 1572-9990 - ISSN (Online) 0929-1261
Published by Springer-Verlag Homepage  [2469 journals]
  • European associations in law and economics foreword

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      PubDate: 2022-09-16
       
  • Reluctance to report criminal incidents: limited access to justice, social
           exclusion, and gender

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      Abstract: Abstract Measures of access to justice mainly use indicators from judicial statistics or legislation whereas subjective perceptions or attitudes are often measured by survey questions related to judicial services. Using Turkey’s Life Satisfaction Survey, we consider reluctance to report an experienced criminal incident, which is a factual statement, as an objective indicator affecting demand for and access to justice. We identify correlates of reluctance to report and find that poor socio-economic status is negatively associated with the probability of reporting a criminal incident, and that the impact is greater for women. Perceived social pressures related to gender and level of income adversely affect their probability of reporting, whereas men are not affected by social pressure in their decision to report criminal incidents. We then relate the probability of reluctance to report to the probability of giving a no opinion response to questions on perceptions of satisfaction with judicial services. We find that the two are correlated, providing evidence for the relationship between exclusion from access to justice and voice.
      PubDate: 2022-09-08
       
  • Do child support guidelines result in lower inter-judge disparity' The
           case of the French advisory child support guidelines

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      Abstract: Abstract In this article, we study the decision-making of judges in an experimental setting resembling real world judicial decision-making in order to measure the impact of advisory guidelines on judges’ decisions in divorce cases. We gave 312 French future judges 48 case vignettes, built from real data related to divorce cases involving children. We compared two different subject pools: judges who were asked to set child support awards with an advisory guideline and judges who were asked to set child support awards without any guidelines. We find that guidelines help to reduce the disparity between judges: the variance in similar cases is lower when the subjects have the opportunity to use guidelines. On the other hand, this effect is not systematic since we observe an increase in heterogeneity in some particular cases. We interpret this result by considering that the guidelines may generate a conflict of norms: the judge may be torn between the social norm represented by the guidelines and based on the child’s interest and the legal norm that limits her decisions which need to stay within the parties’ proposals. An increase of heterogeneity would result from different trade-offs between judges.
      PubDate: 2022-09-06
       
  • The effects of market size, wealth, and network effects on digital piracy
           and profit

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      Abstract: Abstract The effect of digital piracy is often framed as a creator having to compete against unauthorized copies of their own creation, despite intellectual property rights laws. This framing has empirical and theoretical support, but the empirical findings often suggest that the magnitude and even sign of piracy effects depend on the characteristics of the software and the market. For example, piracy seems to have a larger negative effect on sales of high-profile works, but a smaller and perhaps even positive effect on lesser-known works. This paper seeks a theoretical explanation of differential piracy effects. It is unique in that it gives considerable focus to the market size, and also to budgetary limitations of the consumer base, motivated by high piracy rates in developing countries. The models imply that piracy is more likely to help developers when the market for the software is smaller; when network effects are neither too weak nor too strong; when piracy is neither to accessible nor too inaccessible; when the cost of piracy is relatively homogeneous; and when the consumer base is not too poor. All things considered, the inclusion of market size, consumer budgets, and heterogeneous piracy costs suggest that piracy is less likely to be beneficial to developers than previous literature suggest. Developer profit may be higher or lower with piracy, but buyer welfare is no worse, and is sometimes better, with piracy.
      PubDate: 2022-08-27
       
  • Stay or flee' Hit-and-run accidents, darkness and probability of
           punishment

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      Abstract: Abstract Empirical studies on the economic theory of crime have extensively analyzed the importance of the probability of punishment with regard to premeditated criminal activities. Unplanned crimes also occur, however, and this paper will focus on a very serious and widespread example: the hit-and-run road accident. Using police records for every road accident with injuries or mortalities that took place in Italy in the period 1996–2016, we rely on changes in daylight, both when switching between daylight saving time and winter time and across seasons, as an exogenous source of variation affecting the probability of apprehension and find that the likelihood of hit-and-run conditional on an accident taking place increases by around 20% with darkness. Our results suggest that policies increasing the likelihood of apprehension could be effective in reducing hit-and-run.
      PubDate: 2022-08-21
       
  • Pandemics, economic freedom, and institutional trade-offs

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      Abstract: Abstract We argue that institutions are bundles that involve trade-offs in the government’s ability to provide public goods that affect public health. We hypothesize that the institutions underlying economic freedom affect the mix of diseases by reducing diseases of poverty relative to diseases of commerce (those associated with free movement of people, such as smallpox or COVID-19). We focus on smallpox and typhoid fever in the late nineteenth century and early twentieth century in order to build on recent work that make arguments similar to ours, especially the framework Werner Troesken sets forth in The Pox of Liberty. Our evidence shows that economic freedom, in multiple periods of time and settings prior to the eradication of smallpox in the second half of the twentieth century, reduced typhoid mortality but had no effect on smallpox deaths. The implication for COVID-19 is that the trade-off between fighting the pandemic and preserving economic freedom may not be too severe in the short run. However, in the long run, the wealth benefits from economic freedom are likely to be crucial in reducing vulnerability to diseases of commerce primarily from their impact on comorbidities (such as diabetes and heart disease). Thus, economic freedom is on balance good for public health, which suggests that it, while requiring trade-offs, might be the best institutional bundle for dealing with pandemics.
      PubDate: 2022-08-01
       
  • Entrepreneurship during a pandemic

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      Abstract: Abstract Commercial and social entrepreneurs are likely to help communities combat public health crises. Research on responses to pandemics has underappreciated the critical role of entrepreneurs. In the context of post-disaster response and recovery, entrepreneurs provide needed goods and services, repair and rebuild disrupted social networks, and can act as focal points for disaster survivors as they develop their plans to rebuild. During a pandemic, entrepreneurs perform similarly important economic and social functions. This article highlights these functions, including (1) providing the goods needed to survive and combat the pandemic, (2) performing the services needed so that people can stay productive and connected during the pandemic, and (3) acting as a source of community support and leadership. It also discusses how entrepreneurs are able to perform these roles despite operating in an environment that constricts the range and nature of entrepreneurial activity. Finally, this article describes a legal regime that will promote entrepreneurship during a pandemic.
      PubDate: 2022-08-01
       
  • This time is different'—on the use of emergency measures during
           the corona pandemic

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      Abstract: Abstract The COVID-19 pandemic has not only caused millions to die and even more to lose their jobs, it has also prompted more governments to simultaneously declare a state of emergency than ever before enabling us to compare their decisions more directly. States of emergency usually imply the extension of executive powers that diminishes the powers of other branches of government, as well as to the civil liberties of individuals. Here, we analyze the use of emergency provisions during the first wave of the COVID-19 pandemic and find that it can be largely explained by drawing on political economy. It does, hence, not constitute an exception. We show that many governments have (mis-)used the pandemic as a pretext to curtail media freedom. We further show that executive decrees are considered as a substitute for states of emergency by many governments.
      PubDate: 2022-08-01
       
  • A numerus clausus rationale for the privity of contract: the protective
           function

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      Abstract: Abstract We analyse the legal and economic background and implications of the destandardisation of digital contracts, with a focus on consumer protection and overall efficiency. We argue that firms can exploit destandardisation paired with asymmetric information to extract rents. We propose the introduction of a numerus clausus principle in the digital licensing realm (a limit to the contractual freedom of parties to create proprietary rights) as a way of reducing rent extraction by firms and increasing consumer surplus. With a simple economic model, we account for the tradeoff between the benefit from reduced market power and the social cost of legally enforced standardisation, and show that some degree of enforced standardisation can be optimal.
      PubDate: 2022-07-18
       
  • Bank capital buffer releases, public guarantee programs, and dividend bans
           in COVID-19 Europe: an appraisal

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      Abstract: Abstract We analyse the recent policy decisions made by the European Central Bank and the national authorities related to capital and shareholders’ remuneration aimed at promoting banking credit supply in COVID-19-afflicted economies. We forecast the impact of the regulatory decisions based on the empirical literature and discuss the factors that reduce the banks’ incentives to expand their loan portfolios. We argue that the introduction of the dividend ban caused a surge in regulatory uncertainty and undermined banks’ market valuation raising the expected funding costs and contributing to the banks’ reluctance to make use of the capital buffers. We develop policy suggestions intended to mitigate this effect.
      PubDate: 2022-07-18
       
  • COVID 19: how coercive were the coercive measures taken to fight the
           pandemic

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      PubDate: 2022-07-13
      DOI: 10.1007/s10657-022-09746-5
       
  • Counting offenders’ gains' Economic and moral considerations in the
           determination of criminality

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      Abstract: Abstract The question of whether or not offenders’ gains should be counted in social welfare began with Stigler’s original critique of the Becker model, but that debate has been carried out solely within the context of law enforcement while taking the content of law as given. This paper extends the discussion to the question of what acts should be made criminal. It does this by viewing the Becker model of crime through the lens of the Coase–Calabresi–Melamed framework for assigning and protecting legal entitlements in conflicting-use situations. The analysis shows that the economic model cannot uniquely determine criminality, even when some allowance is made for a divergence between private and social values, provided that sanctions are optimally set. The content of law must therefore be imposed exogenously based on moral or other considerations.
      PubDate: 2022-06-29
      DOI: 10.1007/s10657-022-09744-7
       
  • Contingent fees and endogenous timing in litigation contests

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      Abstract: Abstract This study examined the contingent fee arrangements and adversarial systems applied in the United States. In the American context, a plaintiff (or a defendant) pays a contingent fee (an hourly fee) to their lawyer. In this adversarial system, lawyers can either be the first or the second mover. Solving the American practice with endogenous timing of litigation efforts, we obtained the following results: (i) if the defendant’s total hourly fee rate is not sufficiently high, the plaintiff’s lawyer is the first mover, with the plaintiff then being the underdog and (ii) if the rate is sufficiently high, the lawyer is the second mover, with the plaintiff then being the favorite. We demonstrated that these results are not ideal for the plaintiff. The equilibrium order of effort increases the equilibrium contingent fee and total legal effort in the trial, making reaching a settlement difficult. However, this improves the justice achieved through litigation if the total hourly fee rate is not significantly high. We suggest that the American practice of contingent fees with endogenous timing of effort is not economically efficient but is suitable for achieving justice.
      PubDate: 2022-06-14
      DOI: 10.1007/s10657-022-09743-8
       
  • Several liability with sequential care: an experiment

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      Abstract: Abstract By a laboratory experiment, we investigate the incentives of potential tortfeasors to make investments in order to reduce the probability of a given harm occurring. In our experiment, paired players make their decisions sequentially, i.e., a la Stackelberg and in case of a harm, they share liability, either symmetrically or asymmetrically. We vary their level of endowments so that one can become insolvent in case of harm, and show that subjects do not behave as predicted, due to considerations such as inequity aversion or reciprocity. We find that the first-acting tortfeasor does not exploit their advantage fully and invests much more than predicted. Our results also show that the second-acting tortfeasor acts reciprocally with the other, rather than rationally opting for their best response. Finally, we show that asymmetric liability apportionment may restore the incentives to invest for the first tortfeasor, and that insolvency of the second one pushes the first to overinvest in order to avoid harm.
      PubDate: 2022-06-09
      DOI: 10.1007/s10657-022-09740-x
       
  • Fake & original: the case of Japanese food in Southeast Asian
           countries

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      Abstract: Abstract This paper seeks to answer two main questions: whether restaurants using a national brand to capture customers in fact use original national ingredients for producing food and, in cases where original ingredients are not used, what is the economic rationale behind this choice' Specifically, the study focuses on Japanese restaurants in three Southeast Asian countries, using a theoretical model and an empirical investigation based on interviews and survey data collected through field research. Considering restaurants, their suppliers, and their customers, we show how a dual asymmetric-information problem exists, between suppliers and restaurants and between restaurants and their customers. The results indicate that a first reason for buying non-original ingredients—important especially for cheaper restaurants—is a desire to reduce costs. That said, the use of non-original ingredients occurs among all types of Japanese restaurants in the three studied countries. It does not depend on the presence of a Japanese chef or owner, nor on the share of Japanese customers. By contrast it does significantly depend on the reliability of the wholesale channel, and the resultant difficulties that restaurants encounter when buying original ingredients.
      PubDate: 2022-06-04
      DOI: 10.1007/s10657-022-09742-9
       
  • On Coase and COVID-19

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      Abstract: Abstract From an epidemiological perspective, the COVID-19 pandemic is a public health crisis. From an economic perspective, it is an externality and a social cost. Strikingly, almost all economic policy to address the infection externality has been formulated within a Pigovian analysis of implicit taxes and subsidies directed by a social planner drawing on social cost-benefit analysis. In this paper we examine the alternative economic methodology of the externality. We seek to understand how an exchange-focused and institutional analysis provides a better understanding of how to minimise social cost. Our Coasean framework allows us to further develop a comparative institutional analysis of the pandemic response.
      PubDate: 2022-05-19
      DOI: 10.1007/s10657-022-09741-w
       
  • Damages for infringements of competition law

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      Abstract: Abstract The EU Damages Directive (2014) requires that compensation shall place a person who has suffered harm in the position in which that person would have been had the infringement of competition law not been committed, i.e., firms’ actions free of infringements serve as benchmark for specifying harm caused by deviations. The paper confronts this specification with game-theoretic models of market interaction. It is shown that firms are not necessarily deterred to form a cartel that coordinates action choice but non-deterred cartels turn out to be of less concern as they are at least welfare preserving if not enhancing. To implement damages rules that satisfy the Directive’s compensation requirement, courts must have sufficient information. When the actions taken by firms cannot be directly observed, implementing the compensation requirements remains possible only if the available evidence is sufficiently informative.
      PubDate: 2022-04-08
      DOI: 10.1007/s10657-022-09735-8
       
  • Rights redistribution and COVID-19 lockdown policy

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      Abstract: Abstract What is the tenet upon which the public policy of lockdown by fiat experienced during the COVID-19 pandemic is based on' The work approaches this question about the rationale of the mandatory shelter-in-place policy as an interpersonal exchange of rights, but where the exchange occurs coercively instead of voluntarily. It compares, in positive political economy terms, the normative principles of utilitarianism and Rawlsianism, and shows that lockdown by fiat is a policy that is closer to a maximin equity criterion rather than to a utilitarian one. The work moreover shows, also with the aid of a thought experiment and with factual applications, that the fiat redistribution of rights to liberty in favor of rights to health—from those least affected to those most affected by COVID-19—is, in the main, a policy choice that is to be expected under certain constraints.
      PubDate: 2022-04-05
      DOI: 10.1007/s10657-022-09732-x
       
  • Managers’ expectations, business cycles and cartels’ life
           cycle

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      Abstract: Abstract The literature presents mixed findings regarding the economic conditions under which cartels form and collapse, and regarding how stable they are across firm-specific and industry-wide business cycles. The relationship between cartel life cycles and business cycles has been insufficiently analyzed to date. In this paper, we study in depth whether collusion is pro-cyclical or counter-cyclical. We analyze the relationship between cartel start-ups/break ups and economic cycles using a dataset of sanctioned cartels by the European Commission (EC) that were active between 1997 and 2018, after the leniency program had already been introduced. We also double check whether this relationship has changed with respect to the pre-leniency period from 1991 to 1996. Our results show that cartels are more likely to be formed when the business has evolved positively in the previous months, and cartels are less likely to collapse when the business has evolved positively, and managers expect prices to decline. The EC’s sanctioning activity has been an effective deterrent and has had a destabilizing effect on cartels. However we found no evidence that managers’ expectations on prices affect cartel formation. All these results are an important issue for anti-cartel policy enforcement since knowing when cartels are more prone or less likely to occur would help authorities prevent their formation or their early detection.
      PubDate: 2022-02-21
      DOI: 10.1007/s10657-022-09730-z
       
  • The economics of platform liability

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      Abstract: Abstract Public authorities in many jurisdictions are concerned about the proliferation of illegal content and products on online platforms. One often discussed solution is to make the platform liable for third parties’ misconduct. In this paper, we first identify platform incentives to stop online misconduct in the absence of liability. Then, we provide an economic appraisal of platform liability that highlights the intended and unintended effects of a more stringent liability rule on several key variables such as prices, terms and conditions, business models, and investments. Specifically, we discuss the impact of the liability regime applying to online platforms on competition between them and the incentives of third parties relying on them. Finally, we analyze the potential costs and benefits of measures that have received much attention in recent policy discussions.
      PubDate: 2022-02-19
      DOI: 10.1007/s10657-022-09728-7
       
 
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