The central hypothesis of this article is that liability regulation can foster firms' incentives to study the (potential) dangers of their products. We discuss alternative views and develop a formal model to analyze a firm's incentive structure under the application of hindsight liability. We...

A smart grid is the superposition of one physical electricity network on an information system. "Digitalization" (the growing application of information and communication technologies across the economy) enables electricity to break away from exclusive and centralized generation, opening it up...

We determine a relationship between high quality wines and its drivers. We answer the questions: What variables explain high-quality wine prices? How do certain factors (highly, slightly or scarcely) under control of the suppliers, influence prices? To respond, we build a database with thirteen...

This study aims to answer the following questions: which is the average efficiency level in passenger transportation of an airline sample operating in the Western Hemisphere? How do Latin American airlines perform in comparison with American ones? Are there technical efficiency differences...

How does the process of applying knowledge to the economy work? How do people innovate? What is inside the innovation black box? Can the process be stylized? We apply an economic approach to creativity which provides a general analytical framework to innovation to answer these questions by...

This essay tries to synthesize a recent discussion on circular economics, aiming to clarify the concept, its relationship with the notion of "decoupling", and how technology, business, and economic policy influence it. In essence, circular economy means turning waste into something valuable. The...

How did the wine world market perform in the last decades in terms of production, international trade, prices and consumption? What happened with Argentina's wine industry in the same period? To answer these questions, we categorize countries and analyze FAO statistics from 1961 on. We verify...