Die Möglichkeit einer straferleichternden Selbstanzeige vor der Entdeckung durch Strafverfolgungsbehörden oder eines Straferlasses für geständige Angeklagte in Gerichtsverhandlungen ist weitverbreitet in den meisten Rechtssystemen. Die Diskussion in den Rechtswissenschaften konzentriert sich...

We study competition among market designers who create new trading platforms, when boundedly rational traders learn to select among them. We ask whether ‘Walrasian’ platforms, leading to market-clearing trading outcomes, will dominate the market in the long run. If several market designers...

Tighter capital requirements and mandatory deferral of compensation are among the most prominently advocated regulatory measures to reduce excessive risk-taking in the banking industry. We analyze the interplay of the two instruments in an economy with two heterogenous banks that can fund...

We use a laboratory experiment to test the impacts of uncertainty, the magnitude of fines and aversion against making type-I and type-II errors on legal decision making. Measuring uncertainty as the noise of a signal on the defendant's guilt observed by legal decision makers, we observe that a...