In an experiment on the large language model GPT-4o, a supplier always makes a higher profit if it replaces uniform contract terms with a set of terms between which the customer may choose. The extra profit results from price discrimination. There is a first order and a second order effect. The...

The European Systemic Risk Board (ESRB) developed the macroprudential stance framework to compare systemic risks, macroprudential polices and resilience at country level. The purpose was to assess the macroprudential stance of member countries as either tight, neutral or loose, thus providing an...