In 1991 and 2008, Israel abolished the equivalents of 1¢ and 5¢ coins, respectively, effectively eliminating low-denomination coins and introducing rounding in cash transactions. When totals were rounded up, shoppers incurred a small rounding tax. Using detailed data on price endings and...

We study a novel dynamic inspection game in which a regulator commits to a detection technology, and a regulated firm chooses whether to engage in harmful conduct and, if detected and sanctioned, whether to incur a redesign cost that generates a modified violation requiring renewed detection. In...

This paper evaluates an Adaptive LASSO-MGARCH model for multivariate volatility forecasting, with an application to green and conventional bonds, equities, energy commodities, and EU carbon allowances. By introducing coefficient-specific adaptive penalisation directly into the multivariate GARCH...

Advances in Group Processes publishes theoretical analyses, reviews, and theory based empirical chapters on group phenomena. The series adopts a broad conception of "group processes." This includes work on groups ranging from the very small to the very large, and on classic and contemporary...

We propose a new policy instrument that leverages adverse selection when Pigouvian policies are infeasible or undesirable. Our policy gives firms the option to pay a tax on their voluntarily disclosed emissions, or an output tax based on the average emissions among undisclosed firms. We derive...