| 1. |
- Bjuggren, P.-O., et al.
(författare)
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Ownership of a cultural landmark the case of Gotha Canal
- 2002
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Ingår i: International Review of Law and Economics. - 0144-8188 .- 1873-6394. ; 21:4, s. 499-519
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Tidskriftsartikel (refereegranskat)abstract
- Gotha Canal is perhaps the most gigantic construction work ever undertaken in Sweden. It is a seaway through Sweden that connects the Baltic Sea with the Atlantic Ocean. It is nowadays considered to be one of the most famous cultural landmarks in Sweden from the time it opened for traffic the canal was in 1832 until 1978 the canal was privately owned. Since then, it has been owned by the state. Such a long time of private ownership of transportation link is remarkable. This paper analyses why the change from private to state ownership finally took place and also looks at the implication of this ownership change for profit maximising behaviour and maintenance of the canal. A discussion of how ownership of a cultural landmark like Gotha Canal can be structured is also provided. © 2002 Elsevier Science Inc. All rights reserved.
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| 2. |
- Häckner, Jonas, et al.
(författare)
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The equilibrium compliance rate among regulated firms
- 2020
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Ingår i: International Review of Law and Economics. - : Elsevier BV. - 0144-8188 .- 1873-6394. ; 63
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Tidskriftsartikel (refereegranskat)abstract
- This study develops a framework for the strategic interaction of firms that have to decide between adhering to and violating legislation. Depending on how deterring enforcement is various degrees of compliance with the law will arise in equilibrium. For an agency that targets a certain compliance rate more resources per firm should be allocated to industries with strong demand and high costs for adhering to legislation. Whenever some degree of non-compliance among competing firms can be expected, more inspection resources are needed in markets where products are highly differentiated and/or the number of firms is small.
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| 3. |
- Häckner, Jonas, 1962-, et al.
(författare)
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The strategic interaction between cartels and anti-trust authorities
- 2022
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Ingår i: International Review of Law and Economics. - : Elsevier BV. - 0144-8188 .- 1873-6394. ; 70
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Tidskriftsartikel (refereegranskat)abstract
- We present a model of the interaction between firms agreeing on a degree of collusion and a competition authority that simultaneously determines the allocation of resources to enforcement of anti-trust legislation. An increase in demand is associated with tougher enforcement and a lower degree of collusion. A stronger competitive pressure first decreases the degree of collusion and increases the level of enforcement, then increases both the degree of collusion and the level of enforcement, and eventually increases the degree of collusion and decreases the level of enforcement. Simulation results indicate that a move from the EU penalty regime to the tougher US standard with treble damages would mainly impact on the enforcement intensity and to a much lesser extent affect the degree of collusion.
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| 4. |
- Kotsadam, Andreas, 1980, et al.
(författare)
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Do laws affect attitudes? : An assessment of the Norwegian Prostitution Law using Longitudinal Data
- 2011
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Ingår i: International Review of Law and Economics. - Amsterdam : Elsevier. - 0144-8188 .- 1873-6394. ; 31:2, s. 103-115
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Tidskriftsartikel (refereegranskat)abstract
- The question of whether laws affect attitudes has inspired scholars across many disciplines, but empirical knowledge is sparse. Using longitudinal survey data from Norway and Sweden, collected before and after the implementation of a Norwegian law criminalizing the purchase of sexual services, we assess the short-run effects on attitudes using a difference-in-differences approach. In the general population, the law did not affect moral attitudes toward prostitution. However, in the Norwegian capital, where prostitution was more visible before the reform, the law made people more negative toward buying sex. This supports the claim that proximity and visibility are important factors for the internalization of legal norms.
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| 5. |
- Sundgren, Stefan, 1962-, et al.
(författare)
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Entrepreneurs’ legal infractions and hidden information: Evidence from small business bankruptcies
- 2022
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Ingår i: International Review of Law and Economics. - : Elsevier. - 0144-8188 .- 1873-6394. ; 69
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Tidskriftsartikel (refereegranskat)abstract
- We study how entrepreneurs’ attitudes toward risk, as measured by their personal legal infractions, are related to information asymmetry and agency problems prior to bankruptcy, using a sample of 260 small Swedish firms. We find that auditor resignations are more likely in firms where entrepreneurs have legal infractions. Furthermore, we find that legal infractions are negatively related to the likelihood of a firm disclosing its annual report and the quality of the bookkeeping, suggesting that information asymmetry problems are more severe when the entrepreneurs have legal infractions. We also find that creditors’ recovery rates in bankruptcy are lower if the entrepreneurs have legal infractions related to serious traffic offences, such as driving under the influence of alcohol or without a license.
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| 6. |
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| 7. |
- Holm, Jerker
(författare)
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Computational Cost of Verifying Enforceable Contracts
- 1995
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Ingår i: International Review of Law and Economics. - 0144-8188. ; 15:2, s. 127-140
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Tidskriftsartikel (refereegranskat)abstract
- This paper explores a new method for evaluating the cost of verifying a contract. We relate these costs to the number of computations an algorithm needs to check that a contract satisfies certain criteria. Two different criteria that facilitate enforcement of the contract are studied. Our findings indicate bounds on the computational costs as the size of the contract grows. If each computation costs the same, then the marginal cost of increasing the size of the contract is at most linearly increasing and at least constant for the two criteria.
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| 8. |
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| 9. |
- Bergström, Clas, et al.
(författare)
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Secured debt and the likelihood of reorganization
- 2002
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Ingår i: International Review of Law and Economics. - 0144-8188. ; 21:4, s. 359-372
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Tidskriftsartikel (refereegranskat)abstract
- Theory suggests that secured creditors may increasingly oppose a debtor's reorganization as the value of their collateral approaches the amount of their claims. If reorganization occurs and the value of the firm appreciates, the secured creditor receives only part of the gain. But if the firm's value depreciates, the secured creditor bears all of the cost. Secured claimants, thus, often have more to lose than to gain in reorganizations. This study of Finnish reorganizations filed in districts that account for most of the country's reorganizations finds that creditor groups most likely to be well-secured are most likely to oppose reorganization. We also find a negative correlation between how well-secured banks and other institutional lenders are and the likelihood of a confirmed reorganization plan. Limiting the priority of secured debt might stimulate reorganizations.
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| 10. |
- Lenntorp, Erik
(författare)
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On the joint use of licensing and liability
- 2009
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Ingår i: INTERNATIONAL REVIEW OF LAW AND ECONOMICS. - : Elsevier BV. - 0144-8188. ; 29:3, s. 244-251
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Tidskriftsartikel (refereegranskat)abstract
- Licensing is a widely used technique applied to impose regulations. Firms inducing harm must hold a license issued by a regulatory agency on a case-by-case basis. A firm may also be subject to liability. This paper studies the implications on social welfare of combining licensing with strict liability. Contributions include the study of a joint use and related administrative costs. The latter include costs pertaining to litigation and the issuing and enforcing of licenses. It is established when a joint use is motivated. Regulatory compliance should protect from liability in order to decrease litigation and enforcement costs and associated distortions.
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