Traffic safety has been a persistent societal and public policy challenge. Conventional law enforcement by human police is often cost-ineffective due to the information asymmetry and negative externality that arise from unsafe driving behaviors. Recent decades have seen a rise of automated...

When a safety defect occurs, manufacturers often use product recalls to mitigate potential consequences. Our empirical observation on large recalls in the automobile industry suggests that the timing of a recall is a key decision in this recall process, as we find that only recalls made in an...