This paper investigates the influence of political regimes on personality, using the separation of Germany into the socialist GDR and the democratic FRG and its reunification in 1990 as a natural experiment. We show that there are significant differences between former GDR and FRG residents...

Private protection and public policing interact in the fight against property crime. While property owners tailor their level of private protection to their property value, the level of public policing is chosen by elected officials for society as a whole. When the median voter's property is...

This paper explores the impact of product liability on vertical product differentiation when product safety is perfectly observable. In a two-stage competition, duopolistic firms are subject to strict liability and segment the market such that a low-safety product is marketed at a low price to...