Crowdfunding as a part of micro-finance has received considerable attention from the public and among researchers, both due to its novel form of collecting funds and the emergence of fraud and misconduct to the disadvantage of lay backers. We develop an adverse selection model of reward-based...

Court delay frustrates economic behavior. Surprisingly, the impact of a coherent jurisdiction for the timely resolution of legal disputes has so far received little attention in civil law countries. Consequently, this paper examines the nexus between court delay and the availability of legal...

The plea bargaining mechanism in criminal procedure serves as a favorable screening device, separating between the guilty and the innocent. Previous literature ignored the impact of asymmetric information on prosecutor performance inside the adversarial court, which degrades his bargaining...

When shareholders of a target firm expect a value improving takeover to be successful, they are individually better off not tendering their shares to the buyer and the takeover potentially fails. Squeeze-out procedures can overcome this free-riding dilemma by allowing a buyer to enforce a payout...

The prosecution of criminals is costly, and subject to errors. In contrast to adversarial court procedures, the prosecutor is regarded as an impartial investigator and aide to the judge in inquisitorial justice systems. We show in a sequential prosecution game of a Bayesian court that a...

We study the impact of plea bargaining on decision errors and operating costs of the inquisitorial justice system. Scholars and legal professionals are divided over whether such plea deals are compatible with the inquisitorial tradition. In this paper, we stylize inquisitorial criminal procedure...