nep-law New Economics Papers
on Law and Economics
Issue of 2024‒03‒25
seven papers chosen by
Yves Oytana, Université de Franche-Comté

  1. Polycentric governance in collusive agreements By Schmal, Wolfgang Benedikt
  2. Gender attitudes in the judiciary: evidence from U.S. circuit courts By Elliott Ash; Daniel L. Chen; Arianna Ornaghi
  3. Rule of Law, Economic and Political Freedom: Conceptualization and Measurement. By Ignacio P. Campomanes
  4. Parliaments and evidence-based lawmaking in the Western Balkans: A comparative analysis of parliamentary rules, procedures and practice By Bagrat Tunyan; Klaus H. Goetz
  5. Healthcare Workforce Shortages and Job Autonomy: Nurse Practitioners and Entrepreneurship in the United States By Shishir Shakya; Joshua K. Bedi; Alicia Plemmons
  6. Coordination in the fight against collusion By Elisabetta Iossa; Simon Loertscher; Leslie M. Marx; Patrick Rey
  7. Manager Characteristics and SMEs’ Restructuring Decisions: In-Court vs. Out-of-Court Restructuring By Rachid Achbah

  1. By: Schmal, Wolfgang Benedikt
    Abstract: Collusive agreements in the form of cartels among firms are complex structures. The involved firms need to agree on prices and sales quotas that are legally not enforceable. Market characteristics that foster cartels' failure or success are widely examined. However, the interplay between the involved firms in a collusive agreement, i.e., the governance dimension within a cartel, has received surprisingly low attention. Using a comprehensive dataset of 191 cartels from 2012 - 2018, this paper empirically reveals that polycentric structures within the cartel governance may contribute to longer duration and lower sanctions imposed by competition authorities, especially for large cartels. By that, the paper sheds new light on two aspects: The entangled governance structures of collusive undertakings as well as the relevance of polycentricity in the firm environment. The insights may be helpful for cartel authorities and new research combining institutional and industrial economics.
    Keywords: Collusion, illegal cartels, polycentricity, governance, institutions
    JEL: A14 D02 D23 K42 L40 O17
    Date: 2024
  2. By: Elliott Ash (ETH Zürich - Eidgenössische Technische Hochschule - Swiss Federal Institute of Technology [Zürich]); Daniel L. Chen (TSE-R - Toulouse School of Economics - UT Capitole - Université Toulouse Capitole - UT - Université de Toulouse - EHESS - École des hautes études en sciences sociales - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Arianna Ornaghi (Hertie School of Governance [Berlin])
    Abstract: Do gender attitudes influence interactions with female judges in U.S. Circuit Courts? In this paper, we propose a judge-specific measure of gender attitudes based on use of gender-stereotyped language in the judge's authored opinions. Exploiting quasi-random assignment of judges to cases and conditioning on judges' characteristics, we validate the measure showing that higher-slant judges vote more conservatively in gender-related cases. Higher-slant judges interact differently with female colleagues: they are more likely to reverse lower-court decisions if the lower-court judge is a woman than a man, are less likely to assign opinions to female judges, and cite fewer female-authored opinions.
    Keywords: Gender attitudes, judiciary, stereotypes, NLP
    Date: 2024–01–01
  3. By: Ignacio P. Campomanes
    Keywords: Rule of law, Democracy, Economic Freedom, Institutions.
    JEL: O43 E02 P16 K10 H11
    Date: 2024–01
  4. By: Bagrat Tunyan; Klaus H. Goetz
    Abstract: Parliaments have a unique role in ensuring that adopted laws, regardless of who initiated them, are evidence-based and fit-for-purpose. For the executive branch, laws are vital instruments through which they deliver public policy. Governments therefore rely on parliaments to scrutinise and adopt legislation in a timely, well-planned and co-ordinated manner. Parliamentary scrutiny of government lawmaking and its role in ex post evaluation of law implementation helps the legislature hold the executive to account. Evidence-based lawmaking is especially critical to EU integration processes as they involve adoption of many new laws. This paper reviews how laws are planned, initiated, prepared, scrutinised and evaluated by the parliaments of six Western Balkan administrations. The report discusses the concept of lawmaking within a parliamentary system of government. It considers how parliaments and governments co-operate and co-ordinate their legislative activities throughout the lawmaking cycle, providing a comparative analysis of existing rules and procedures as well as lawmaking practices. A set of key findings and policy recommendations are provided to support the Western Balkan administrations to plan and implement future reforms.
    Keywords: ex post evaluation, governance, impact assessment, lawmaking, legal drafting, legislative planning, legislative scrutiny, parliament, policy co-ordination, policymaking, post-legislative scrutiny, stakeholder engagement
    Date: 2024–03–15
  5. By: Shishir Shakya; Joshua K. Bedi; Alicia Plemmons
    Abstract: The laws governing nurse practitioners’ scope of practice significantly impact the degree of autonomy and independence they have in their professional roles. Lowautonomy environments resulting from restrictions on nurse practitioners’ scope of practice can have long-term adverse effects on their recruitment, training, and retention. These laws directly affect the range of services they can offer, their decision-making authority, and their ability to establish and manage their practices. By lowering both monetary and non-monetary benefits of practice ownership, restrictions on independent practice make it more difficult for nurse practitioners to start a practice. Thus, these regulations potentially exacerbate the shortage crisis in primary care, especially within communities already struggling with access to healthcare. We track sole proprietor nurse practitioners in each US state from 2016- 2023 to analyze how the scope of practice laws influence sole proprietorship among nurse practitioners. Our results help lay the groundwork for future evidence-based policy surrounding nurse practitioner scope of practice. Key Words: Scope of Practice, Entrepreneurship, Nurse Practitioner, Primary Care, Healthcare Workforce
    JEL: D73 K42 O17 P16 J44
    Date: 2024
  6. By: Elisabetta Iossa; Simon Loertscher; Leslie M. Marx; Patrick Rey (TSE-R - Toulouse School of Economics - UT Capitole - Université Toulouse Capitole - UT - Université de Toulouse - EHESS - École des hautes études en sciences sociales - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement)
    Abstract: While antitrust authorities strive to detect, prosecute, and thereby deter collusive conduct, entities harmed by that conduct are also advised to pursue their own strategies to deter collusion. The implications of such delegation of deterrence have largely been ignored, however. In a procurement context, we find that buyers may prefer to accommodate rather than deter collusion among their suppliers. We also show that a multi-market buyer, such as a centralized procurement authority, may optimally deter collusion when multiple independent buyers would not, consistent with the view that "large" buyers are less susceptible to collusion.
    Keywords: Reserves, Sustainability and initiation of collusion, Coordinated effects
    Date: 2024–02
  7. By: Rachid Achbah (UL2 UFR SEG - Université Lumière - Lyon 2 - UFR de Sciences économiques et de gestion - UL2 - Université Lumière - Lyon 2)
    Abstract: This study aims to empirically investigate the impact of managers' characteristics on their choice between in-court and out-of-court restructuring. Based on the theory of upper echelons, we tested the preferences of 342 managers of financially distressed French firms regarding restructuring decisions. The overall findings of this study provide empirical support for the upper echelons theory. Specifically, managers with a long tenure and those with a high level of education are less likely to restructure before the court and are more likely to restructure privately. The findings also indicate that managers' age and gender do not significantly affect their choice between in-court and out-of-court restructuring. This study contributes to the literature on bankruptcy and corporate restructuring by turning the focus from firm characteristics to manager characteristics to explain restructuring decisions.
    Keywords: SMEs, Insolvency proceedings, Manager characteristics, Restructuring, Upper echelons theory
    Date: 2023

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