This paper explores the gap between the principles of take-back legislation and their implementation. The discussion is based on my experience with take-back legislation implementations in Europe and in the United States, as well as my research exploring the underlying economics of take-back systems on the ground. I argue that the transposition of legislative principles into working systems can...

We analyze several proposals to restrict CEO compensation and calibrate two models of executive compensation that describe how rms would react to dierent types of restrictions. We nd that many restrictions would have unintended consequences. Restrictions on total realized (ex-post) payouts lead to higher average compensation, higher rewards for mediocre performance, lower risk-taking incentives...

In a wide class of new physics models, there exist scalar fields that obtain vacuum expectation values of high energy scales. We study the possibility that the standard model Higgs field has experienced first order phase transition at the high energy scale due to the couplings with these scalar fields. We estimate the amount of gravitational waves produced by the phase transition, and discuss o...

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‘e debate on corporate tax reform in the U.S. have included arguments for a ‘border adjustment tax’ that would e‚ectively raise the tax on imported inputs and provide a subsidy to exports. ‘is policy is equivalent to other uniform border taxes such as a combined import tari‚ and export subsidy and a uniform value added tax and payroll subsidy. In this note I argue that contrary to popular argum...

Agricultural expansion is a major driver for loss of biodiversity; changes in land use or intensity associated with trade liberalisation can therefore have major consequences. Assessments of the impacts of agricultural trade have tended to neglect biodiversity, despite its crucial role in maintaining productive agro-ecosystems. Advice on assessment of biodiversity impacts is required to support...

This article examines the role of capital in financial institutions -why it is important, how market-generated capital 'requirements' differ from regulatory requirements, and the form that regulatory requirements should take. Along the way, we examine historical trends in bank capital, problems in measuring capital, and some possible unintended consequences of capital requirements. Within this ...

The relationship between a product and its design process is generally complex and not fully understood. When modifying a product, industry still rarely considers the implementation process and its consequences for other design activities in the company, which is hard to assess with conventional planning methods. Although change processes are highly constrained, product and process constraints ...

In this article, we introduce a model on the unintended effects of advertising. This model describes the existing hypotheses about the impact of advertising on (a) materialism, (b) parent–child conflict, and (c) unhappiness. The validity of each of these hypotheses was investigated using a vote-counting analysis. Our analyses yielded a small to moderate effect size for the relation between adve...