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on Law and Economics |
| By: | Baumann, Florian; Friehe, Tim |
| Abstract: | We investigate how third-party punishers and potential violators decide under evidentiary uncertainty in a take game. In line with the legal requirement and in contrast to economic models, neither the sanction nor the harm level affects the punishment probability, but the quality of evidence does have an impact. Potential violators' decisions are strongly influenced by the expected punishment probability but not by the level of the sanction. |
| Keywords: | experiment,standard of proof,third-party punishment |
| JEL: | K42 D81 C91 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:dicedp:181&r=law |
| By: | Daniel Montolio (Universitat de Barcelona & IEB); Simón Planells-Struse (Universitat de Barcelona & IEB) |
| Abstract: | In this paper we analyze the temporal profile of crime in the urban context of Barcelona (Spain) for the period 2007-2011 using a unique micro dataset with police reported crime. Additionally, we assess the temporal effect that a leisure activity clearly bounded in time, namely the matches played by Football Club Barcelona (FCB), exert on criminal activities. We obtain a detailed time profile for the crime recorded in the city of Barcelona and the displacement effect attributable to the football matches. The latter was found to be notable in the case of thefts, criminal damage, robberies and gender violence. Instances of gender violence were more prevalent after a FCB defeat. |
| Keywords: | Hourly data, reported crime, crime displacement, gender violence, football |
| JEL: | K42 R1 L83 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:ieb:wpaper:doc2015-10&r=law |
| By: | Daniel Avdic; Christian Bünnings |
| Abstract: | Indirect psychological effects induced by crime are likely to contribute significantly to the total costs of crime beyond the financial costs of direct victimization. Using detailed crime statistics for the whole of Germany and linking them to individual-level mental health information from the German Socio-Economic Panel, we analyze whether local crime rates affect the mental health of residents. We estimate that a one standard deviation increase in local violent crime rates significantly decreases individual mental well-being among residents by, on average, one percent. Smaller effects are found for property and total crime rates. Results are insensitive to migration and not isolated to urban areas, but are rather driven by less densely populated regions. In contrast to previous literature on vulnerability to crime, we find that men, more educated and singles react more to variation in violent crime rates in their neighborhoods. One potential explanation could be that those who are more fearful of crime have developed better coping strategies and, hence, react less to changes in crime. |
| Keywords: | Fear of crime; spillover effect; mental health; vulnerability; neighborhood effects; panel data |
| JEL: | C23 I18 K42 R23 |
| Date: | 2015–02 |
| URL: | http://d.repec.org/n?u=RePEc:rwi:repape:0540&r=law |
| By: | Denis De Castro Halis (Faculty of Law, University of Macau) |
| Abstract: | New Information and Communication Technologies (ICTs) have the potential of creating a revolution in the classical ways of administering judicial systems and providing judicial output to legal disputes. This potential, however, no longer needs to be only imagined. The Brazilian judiciary has started a pioneering – but still relatively silent and unknown - radical change in the way that lawyers, judges, and parties relate with each other and with the judicial bureaucracy. Part of the Brazilian legal scene is currently marked by emerging new theories, models of logic, software, and technologies which are being implemented in an attempt to reduce the time for the judiciary response to disputes and to eliminate its serious “clogsâ€. With millions of lawsuits in the various sections of the judiciary, the country is trying to streamline the judicial decision-making process and output of its courts at all levels. This interdisciplinary investigation proposes to describe and analyze the most important technical innovations that have been revolutionizing the way that judges, lawyers, and litigants act in the Brazilian context. The investigation is based on the analysis of the Brazilian courts websites, on direct interviews with legal professionals, and on reports published in the periodicals of the associations of legal professionals. |
| Keywords: | Legal Professions, Judges and Courts, New Technologies, Judicial Decision Making, Brazil |
| JEL: | K40 K41 K42 |
| Date: | 2014–12 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iacpro:0902782&r=law |
| By: | Shastitko, Andrey (Lomonosov Moscow State University; Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | Type-I and type-II errors effects do matter both from the rules enforcement perspective and vertically upward to rules enactment. The paper support conventional idea about detrimental influence on deterrence of both types of errors. At the same time special role of type-I errors is demonstrated based on strategic interaction between economic exchange participants supported by third-party enforcement with opportunities to discriminate players. The paper highlights the issue that errors in enforcement is not whole story: the simple classification of cases is suggested from the perspective of type-I and type-II errors in rules enforcement and rules enactment. |
| Keywords: | types-I&II errors, institutions, rules enforcement, rules enactment, discrimination, Nash equilibrium |
| JEL: | D02 K10 K42 P48 |
| Date: | 2014–07 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:re9021&r=law |
| By: | Flatscher-Thöni, Magdalena (UMIT); Leiter, Andra M. (University of Innsbruck); Winner, Hannes (University of Salzburg) |
| Abstract: | This paper assesses the widely held belief that damages for pain and suffering are random or arbitrary. We empirically analyze the differential impact of a plaintiff's personal characteristics, pain-specific circumstances and a lawsuit's procedural features on such payments. Relying on a dataset of about 2,200 pain and suffering verdicts from Germany between 1980 and 2006, we observe that final awards are systematically in uenced by the injury's conditions (most importantly the intensity and severity of damage), while individual characteristics such as gender and age turn out insignificant. Regarding the lawsuit, it appears to be relevant at which court level the case is brought in and whether the plaintiff hires a lawyer or not. On balance, our findings suggest that compensations are consistent with the legal framework of the German tort law, letting us conclude that damages for pain and suffering are widely predictable rather than random. |
| Keywords: | Tort law; damages for pain and suffering; civil procedure |
| JEL: | K13 K40 K41 |
| Date: | 2015–03–27 |
| URL: | http://d.repec.org/n?u=RePEc:ris:sbgwpe:2015_002&r=law |
| By: | Christoforos Ioannidis (King's College London) |
| Abstract: | The Montevideo Convention of the Rights and Duties of States (1933) codified the declarative theory of statehood as accepted as part of customary international law and laid down the five requirements for statehood which are often summarized as 'the principle of effectivity': (a) permanent population, (b) defined territory, (c) organised power (government) and (d) ability to enter into relations with other states. The aim of this article is to discuss the possibility of an additional requirement: popular sovereignty in a specific historic sense. I will also discuss whether this requirement should be regarded as a necessary and/or sufficient condition for statehood. The importance of this additional condition will be explained in the light of the legitimacy of exercise of power. Furthermore, it will be argued that this additional requirement may help promote the suggested primary goal of international law, that being justice (instead of peace as easily inferred by the UN Charter) in the specific sense of the protection of basic human rights, as suggested by Buchanan in Justice, Legitimacy and Self-Determination. It has to be noted that both main points, namely Buchanan’s suggested notion of justice as the primary goal of international law and my main argument of popular sovereignty in a specific historical sense as a requirement of statehood are not to be regarded as relating to any form of Natural law Theory. It is not the case that I maintain that any international norm which violates justice as ethical foundation of international law is, because of that reason, legally invalid. Although the Legal Positivism vs Natural Law Theory is certainly not the focus of this paper, if one wishes to regard Legal Positivism and Natural Law Theory as mutually exclusive, my suggestion falls entirely under the umbrella of Legal Positivism for reasons that will be explained. |
| Keywords: | Philosophy of international law, public international law, legitimacy, conditions of statehood, sovereignty |
| JEL: | K33 K49 |
| Date: | 2014–10 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iacpro:0800340&r=law |
| By: | Suvorov, Evgeniy (Russian Presidential Academy of National Economy and Public Administration (RANEPA) - Socio-Political and Legal Analysis) |
| Abstract: | This paper deals with one of the most relevant problems in the practice of adjudication of bankruptcy in Russia - dismissal of arbitration rights managers (hereinafter - also AC). Trustee in bankruptcy is a figure designed to exercise operational control procedures; in the responsibility of these persons are analysis of the financial condition of the debtor the meeting of creditors inventory and assessment of the property constituting the bankruptcy estate, the formation of the estate including the reclamation of the respective property of third parties, sale of assets, accounts payable, etc. Given such a place of business arbitration manager questions dismissal as a measure of responsibility for the improper performance of their duties are of particular importance. Dismissal of the arbitration manager is one of the ways to protect the legitimate rights and interests of persons involved in the bankruptcy proceedings in cases where other remedies are not effective. The paper analyzes the various grounds for dismissal of arbitration rights managers addresses the legal issues that arise in practice in addressing relevant issues provides arguments in favor of a decision, and also contains proposals to change the law in the necessary parts. |
| Keywords: | arbitration managers, bankruptcy |
| Date: | 2014–07 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:r90230&r=law |
| By: | Giovanni Battista Donato (Queen Mary University at London) |
| Abstract: | The legal protection of foreign investments deposited in EU financial institutions has attracted considerable attention both in the legal as well as in the business community following European Parliament’s approval on last April of the Bank Recovery and Resolution Directive which includes the so called bail in clause. As the introduction of this clause reflects the intentions of EU’s institutions to put an end to the use of taxpayers’ funds to resolve financial crises, on the other hand it already had a remarkable impact on banks’ creditors’ property rights, especially in the case of foreign investors. In this view, this dissertation will survey the possible legal protection, mostly but not exclusively included in ad hoc Bilateral Investment Treaties (“BIT”), provided to foreign investors to recover the losses suffered following bail-ins’ of credit institutions. In this regard, particular attention will be given to the analysis of the relevant crisis of the Cypriot’s banking sector and the following laws enabling its restructuring by means of creditors’ assets write off, the subsequent institutionalization of this template at the EU level and the connections of this new legal framework with international law rules and principles which safeguard property rights of expropriated foreign investors. |
| Keywords: | International Monetary Arrangements and Institutions, International Lending and Debt Problems, Government Policy and Regulation, International Law, Property Rights. |
| JEL: | F33 F34 G28 K33 P14 |
| Date: | 2015–03 |
| URL: | http://d.repec.org/n?u=RePEc:ais:wpaper:1503&r=law |
| By: | Yuzhakov, Vladimir (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Tsirin, Artem (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); A. Efremov (Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | The paper presents the results of a study on the development and testing methodology for monitoring of the implementation of anti-corruption expertise of legal acts and draft normative legal acts in the practice of rule-making bodies of state power and local self-government in the Russian Federation. |
| Keywords: | methodology, corruption, expertise, legal acts, law, government, Russia |
| Date: | 2014–07 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:r90211&r=law |
| By: | Suha Alawi (King Abdulaziz university) |
| Abstract: | This paper examines the relationship between corporate governance and cartel formation, A firm’s participation in cartel depends upon the potential problems that may arise due to price fixing and the incentives provided to the management. The top levels of management such as the board of directors and the CEO are responsible for deciding if the firm will participate in the cartel and manage the corporate governance activities of collusive price fixing agreements. The study is focused on UK cartel firms which has the highest representation in the sample. A total number of 150 cartel firms in 52 cases from all around the world between the years 1990 to 2008 are involved in this study, of which 114 are UK firms. Therefore, this study is dominated by UK firms. The study concludes that UK-based cartel firms characterised by having larger board size compared to non-cartel firms; lower percentage of independent directors (non-executive); higher average of board remuneration; less likely that cartel is formed by family-owned and controlled firm (large shareholders); having older CEOs represented on the board; having CEO who served a less number of years as a director; less likely to have a female CEO represented; more likely to have CEOs who’s combined CEO-chairman position; and a higher average of CEOs bonuses and compensation packages. |
| Keywords: | Cartels; Antitrust agreements; Corporate governance; Competition; Agency theory. |
| JEL: | G34 L40 |
| Date: | 2014–07 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iefpro:0401246&r=law |