We develop a theoretical model to identify and compare partial and equilibrium effects of uncertainty and the magnitude of fines on punishment and deterrence. Partial effects are effects on potential violators' and punishers' decisions when the other side's behavior is exogenously given....

Competition authorities often challenge all-unit discounts due to the high pressure they impose upon buyers to meet the quantity threshold. We analyze this so called suction effect in a sequential-entry model where an incumbent seller seeks to shift rents from a more efficient entrant. We find...

Recently, the European Commission has issued the Directive 2004/35/CE on environmental liability with regard to the prevention and remedying of environmental liability. The Directive extends liability that usually refers to personal injuries and private property to harm where private property...