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Corporate criminal liability puts a serious challenge to the economic theory of enforcement. Are corporate crimes different from other crimes? Are these crimes best deterred by punishing individuals, punishing corporations, or both? What is optimal structure of sanctions? Should corporate...

This paper analyzes the impact of potential takeovers on the investment decisions of managers. The takeover involves bargaining over the potential surplus between the acquiring firm, the target manager, and shareholders of the target firm. The anticipation of future takeover gains will influence...

Young adults shopped for music compact disks in a five store simulated Internet mall. In stock probability in all stores was constant at 0.80, but each store was associated with either a 0.5, 2, 4, 8, or 16 second to a feedback message indicating whether a particular disk was in stock or out of...

This paper contends that there is an important distinction between governance structure and contractual form, and that organizational boundaries, defined by governance structures, need not explain contractual form. The basic idea is that governance refers to the general environments and...

Over the last two decades, changing state and federal regulations and increased price competition have dramatically changed the environment in which hospitals compete. This paper uses observations drawn at 5-year intervals from 1973 to 1993 for each of the 50 states to examine the specific...

This paper proposes an empirical study of the Italian gas distribution industry by means of long-term cost function. The analysis highlights the fact that the number of customers is more important than the amount of gas delivered in explaining the variability of distribution costs. Very low...

Most recent empirical analyses of production in the sports economic literature have focused on Major League Baseball. This paper extends that literature by analysing football production in the National Football League (NFL). Using the Poisson regression model, we measure the performance of NFL...