The bombshell arrest of Ivan Boesky on November 14, 1986 signaled the intention of then-US attorney for the southern district of New York, Rudy Giuliani, to increase enforcement of laws against insider trading. Looking at concurrent stock price changes, we find that New York companies were...

We have described a number of ‘invalidating factors,’ any one of which, if present, could account for the weakness or absence of the free rider problem in the voluntary provision of a public good. When any of these factors is present, the free rider phenomenon is not necessarily an...