We compare the performance of liability rules for managing environmental disasters when third parties are harmed and cannot always be compensated. A firm can invest in safety to reduce the likelihood of accidents. The firm’s investment is unobservable to authorities. The presence of...

We compare the performance of liability rules for managing environmental disasters when third parties are harmed and cannot always be compensated. A firm can invest in safety to reduce the likelihood of accidents. The firm's investment is unobservable to authorities. The presence of...

Understanding the formation of consumer inflation expectations is considered crucial for managing monetary policy. Using a unique 'information' experiment embedded in a survey, this paper investigates how consumers' inflation expectations respond to new information. We elicit respondents'...

Synopsis of whole book instead of Abstract: This volume provides a comprehensive review of the empirical evidence on corruption generated by recent laboratory and field experiments conducted by economists and political scientists. The first part of the volume reviews the evidence produced by...