In a model of asymmetric regulation, a firm can comply with two regulatory targets, and a regulator can audit the firm for compliance. Inspection by the regulator is imperfect, and it assesses the firm’s compliance with the targets with different success probabilities. The firm fully complies...

We investigate the effects of consumer-protection regulations limiting post-purchase harm when there are many markets and consumers have limited attention to examine prices or product features. Such regulation lowers the attention necessary for valuable purchases, which can allow a consumer to...

Decentralised Finance applications aim to replicate existing financial products and services from the highly regulated Traditional Finance (TradFi) system using the distributed ledger technology and smart contracts. An open, multi-layered and composable architecture has facilitated the...

Unregulated or weakly regulated financial institutions remain important providers of financial services across Sub-Saharan Africa. This study examines how such institutions operate in South Africa and Zambia, which represent contrasting regulatory approaches-restrictive and enabling,...

According to the economics Nobel laureate, Kenneth Arrow, "… capitalism is a flawed system. It probably has the same virtues as Churchill attributed to democracy: It’s the worst system except for any other." Thus, capitalism is a necessary evil, but it is not inherently bad. I argue that...

Decentralised Finance applications aim to replicate existing financial products and services from the highly regulated Traditional Finance (TradFi) system using the distributed ledger technology and smart contracts. An open, multi-layered and composable architecture has facilitated the...

How do rebel groups incorporate locals into their economic systems, and how do these civil-military relations affect the political dynamics of armed conflicts? This study explores the economic institutions regulated by rebel groups in conflict areas and their impact on the duration of the...

Several empirical studies have attempted to clarify whether differences in regulations affect people's behavior. However, due to a lack of data, few have attempted to clarify whether these differences affect the purchase of insurance. Therefore, in this study, I conducted a survey of consumers...

This study explores how corporate reputation and regulation influence the quantity and quality of non-financial information (NFI) disclosure. While internal drivers of NFI reporting are well-studied, external pressures remain underexplored. Analyzing Ibex35 firms (2015-2019) during Spain's...

The rising prevalence of greenwashing by firms has emerged as a major concern for regulatory authorities over the past decade. This paper examines the impact of regulation on firms' strategic decisions regarding greenwashing and environmental quality in an oligopolistic market. We model two...

The newly introduced EU supply chain regulation emphasises the importance of enforcing social and environmental rules, particularly in third countries. For example, the EU's Corporate Sustainable Due Diligence Directive holds importing firms accountable for breaches in their supply chains....

The Markets in Crypto-Assets Regulation (MiCA) is a comprehensive European Union regulatory framework aimed at harmonizing the crypto-asset market. The existing literature has mainly examined MiCA from a legal perspective, while empirical assessments of industry perspectives remain scarce. In...

The Lithuanian financial technology (referred to as FinTech) sector is one of the fastest-growing financial technology centers in Europe; however, this sector faces economic, regulatory, and technological challenges that hinder its development. This article aims to assess the state of development...

This paper explores the role of microeconomic analysis in policy formulation by assessing how the regulatory impact analyses (RIAs) that federal regulatory agencies prepare for important proposed rules may affect outcomes when regulations are challenged in court. Conventional wisdom among...

For the past decade, U.S. communications policymakers have been debating the need for net-neutrality regulation of "dominant" communications carrier platforms. One of the reasons advanced for regulating these carriers derives from a fear that carriers could reduce competition in the production...

Existing evidence points to a positive correlation between specific regulations and income inequality at a country or regional level, but little is known about how overall regulatory burden affects inequality at the local labor market level. Our study fills this gap by measuring local exposure...

The European Union's goal of carbon neutrality by 2050 requires a major reduction in natural gas use for residential heating. However, gas grid equipment, amortized over 45 years in most countries, risks becoming stranded assets. The literature suggests that regulatory shocks could justify...

This paper analyzes the private production of safe assets and its implications for financial stability. Financial intermediaries (FIs) originate loans, exert hidden effort to improve loan quality, and create safe assets by issuing debt backed by the safe payments from (i) their own loans and...

Existing evidence points to a positive correlation between specific regulations and income inequality at a country or regional level, but little is known about how overall regulatory burden affects inequality at the local labor market level. Our study fills this gap by measuring local exposure...

Rooftop solar photovoltaic mandates are becoming a popular policy across Europe and the United States. In this paper, we leverage the frontrunner experience of California to examine their economics. First, we evaluate the private payoffs of solar adoption for residential new construction. To do...

Algorithm- and data-based recommendation systems (DARS) have become a central component of the digital economy, shaping how users access, evaluate, and consume information and goods. These systems encompass both search rankings tailored to estimated user preferences and direct recommendations...

This study investigates the effect of companies' sustainability performance on their future earnings management. Applying moral licensing theory, we predict that sustainability performance decreases accruals, while increases real earnings management. We analyse a dataset comprising of 47,186...

New Breeding Techniques (NBTs) in agriculture have generated significant interest due to their potential to address many sustainability challenges related to food production. However, this potential is hindered by existing regulations and negative societal attitudes. The debate is wide open...