Reasons for the joint use of ex ante regulation and ex post liability to cope with environmental accidents have been a longstanding issue in law and economics literature. This article, which includes the first empirical study of the French environmental legal system, analyzes courts’ decisions...

The key question in this paper is to determine whether regulation and regulators information can help solving causal uncertainty problems in liability. A widely held view among Law & Economics scholars is that civil liability alone is not well-suited to cope with environmental accidents,...

This work proposes to analyse learning opportunities in North-South trade. Without a direct measure of knowledge transmission, we use export and import sophistications in order to evaluate learning effects for Sub-Saharan African (SSA) and Developing Asian (DA) countries with regard to their...

Most recent empirical option valuation studies build on the affine square root (SQR) stochastic volatility model. The SQR model is a convenient choice, because it yields closed-form solutions for option prices. However, relatively little is known about the resulting biases. We investigate...

Most recent empirical option valuation studies build on the affine square root (SQR) stochastic volatility model. The SQR model is a convenient choice, because it yields closed-form solutions for option prices. We investigate alternatives to the SQR model, by comparing its empirical performance...