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We present a model for the equilibrium frequency of offenses and the informativeness of witness reports when potential offenders can commit multiple offenses and witnesses are subject to retaliation risk and idiosyncratic reporting preferences. We compare two ways of handling multiple accusations discussed in legal scholarship: (i) When convictions are based on the probability that the defendant committed at least one, unspecified offense and entail a severe punishment, potential offenders induce negative correlation in witnesses private information, which leads to uninformative reports, information aggregation failures, and frequent offenses in equilibrium. Moreover, lowering the punishment in case of conviction can improve deterrence and the informativeness of witnesses reports. (ii) When accusations are treated separately to adjudicate guilt and conviction entails a severe punishment, witness reports are highly informative and offenses are infrequent in equilibrium.
The link between taxation and justice is a classic debate issue, while also being very relevant at a time of changing environmental factors and conditions of the social and economic system. Technologically speaking, there are three types of taxes: pr
Agriculture is arguably the most climate-sensitive sector of the economy. Growing concerns about anthropogenic climate change have increased research interest in assessing its potential impact on the sector and in identifying policies and adaptation
We provide quantitative predictions of first order supply and demand shocks for the U.S. economy associated with the COVID-19 pandemic at the level of individual occupations and industries. To analyze the supply shock, we classify industries as essen
Which and how many attributes are relevant for the sorting of agents in a matching market? This paper addresses these questions by constructing indices of mutual attractiveness that aggregate information about agents attributes. The first k indices f
This study reports on the current state-of-affairs in the funding of entrepreneurship and innovations in China and provides a broad survey of academic findings on the subject. We also discuss the implications of these findings for public policies gov