This note offers a brief consideration of the quantitative data regarding U.S. manufacturing's net output (i.e. "value added") in aggregate and per capita terms, and shows that while some of the relevant data give an impression of strength, the long-term trend with regard to output, assets and...

Response times are a simple low-cost indicator of the process of reasoning in strategic games. In this paper, we leverage the dynamic nature of response-time data from repeated strategic interactions to measure the strategic complexity of a situation by how long people think on average when they...

Extreme natural hazards represent, together with crises and wars, the most disruptive phenomena for economic activity. Their economic impact has been shown to be remarkable, long-lasting, and growing over time, though the exact mechanisms at stake are challenging to isolate and quantify. As...

Lawyers, judges, scholars, and clients all agree on one thing about contracts: they are complex. But what does this actually mean? What is contractual complexity and where does it come from? Despite widespread agreement that contracts are complex, the literature on contracts has yet to...

This paper analyzes prominence in a homogeneous product market where two firms simultaneously choose both prices and price complexity levels. Market-wide complexity results in consumer confusion. Confused consumers are more likely to buy from the prominent firm. In equilibrium, there is...

Every financial crisis triggers some regulatory and supervisory changes related to the ensuing threats. These regulations usually address specific types of risks and reduce them but do not protect the entire system from another crisis. The aim of this study was to develop a conceptual framework...