The central hypothesis of this article is that liability regulation can foster firms' incentives to study the … structure under the application of hindsight liability. We find a new role for liability regulation: to foster voluntary …

Authorities often lack information for efficient regulation of the commons. This paper derives a criterion comparing …

In the recent financial crisis, risk management tools have been proven inadequate. Model risk, a key component of bank … risk, has shown its negative impact. It seems that risk models did not cover the included risks comprehensively and were … their models to reduce model risk. We discuss if banks undertake enough effort to improve their risk models. Furthermore …