This paper studies temporal factors influencing the effectiveness of don't drive appeals (DDAs) which policy-makers use to encourage motorists to voluntarily reduce driving during transitory high pollution episodes. We derive and empirically validate a theoretical framework for DDAs where the...

Earnout provisions (“earnouts” hereafter) provide for contingent payments in M&A agreements and play a role in reducing information asymmetry. However, in China, earnouts are not solely driven by negotiations between acquirers and targets but are also related to regulatory preference. The...