Discussions on personal bankruptcy regulations are usually focused the controversial effects of leniency society, economy, financial markets, entrepreneurship, and labour supply. However, methodology measuring has been limited to one-time legislative changes or some elements US system. In contrast, we create a composite index legislations. We calculate for 25 EU countries as benchmark, validate...

We consider a situation where an agent’s effort is monitored by a supervisor who cares for the agent’s well–being. This is modeled by incorporating the agent’s utility into the utility function of the supervisor. The first–best solution can be implemented even if the supervisor’s preferences are unknown. The corresponding optimal contract is similar to what we observe in practice: The superviso...

In this paper we analyze cartel formation and self-reporting incentives when firms operate in several geographical markets and face antitrust enforcement in different jurisdictions. We are concerned with the effectiveness of leniency programs and the benefits of international antitrust cooperation between agencies. When international antitrust prosecution is uncoordinated, multi-market contact ...

Antitrust authorities have set up leniency programs for cartel members that denounce their collusive agreements. These programs help prosecute participants and can thereby deter collusion. We compare the impact of reduced fines and positive rewards and argue that rewarding individuals, including firm employees, can deter collusion in a more effective way. We discuss possible adverse effects of ...

Increased understanding of the mechanisms by which stress impacts performance is essential to the design and operation of complex information systems. T h s study represents a test of the hypothesis of Hancock, Szalma, and Weaver (2002) that the attentional narrowing observed under stressful conditions results from spatial and temporal perception drawing on common resource capacities. Although ...

RoboCup soccer is still host to frequent collisions between robots that lead to unsavory gameplan that is typically not allowed in human soccer. In the Standard Platform league where ultrasonic sensors are employed, these collisions are forbidden, but there is still leniency in the Humanoid League. Additionally, advanced behaviors, such as dribbling, require robust obstacle avoidance strategies...

It is well established that students' evaluative ratings of instruction correlate positively with expected course grades. The authors identify 4 additional data patterns that, collectively, discriminate among 5 theories of the grades--ratings correlation. The presence of all 4 of these markers in student ratings data (obtained at University of Washington) was most consistent with the theory tha...

In the above cases, which came before Western Cape High Court for hearing on both 23 and 25 November 2010, judge, Francois Van Zyl, AJ dismissed two applications leave to institute class actions behalf of applicants against respondent bread-manufacturing companies (ie, Pioneer Foods (Pty) Ltd, Tiger Consumer Brands Limited Premier Limited)who, together with Foodcorp enjoy between 50% 60% domest...