In this paper, penalties to banks violating economic sanctions have been investigated and discussed. This topic has sparked renewed interest attention following the beginning of conflict in Ukraine due Russian aggression February 2022 ongoing general deterioration global climate. Thus, based on experience with for violations from 2007, a theoretical model proposed. It is proposed that may be in...

In the last decade, with the publication of his Complete Works, there has been renewed interest in Walras’s methodology, mostly in the French economic literature. In particular, some scholars have argued that Walras characteristically confused positive and normative statements, a mistake all the more surprising given his impressive knowledge of philosophy (the so-called ‘Walras paradox’). This ...

We study the impact of economic sanctions on international trade in mining sector. demonstrate that gravity equation is well-suited to model bilateral costs and find have been effective impeding trade. Complete reduced by about 44% average. also document significant heterogeneity effects across industries, sanction episodes/cases, depending sanctioning sanctioned countries, type sanctions, dire...

Illegal filesharing on the internet leads to considerable financial losses for artists and copyright owners as well as producers and sellers of music.Thus far, measures to contain this phenomenon have been rather restrictive. However, there are still a considerable number of illegal systems, and users are able to decide quite freely between legal and illegal downloads because the latter are sti...

Abstract By combining approaches from the economic theory of crime and industrial organization, this paper analyzes optimal enforcement for three different forms corporate misconduct that harm competition. The analysis shows why is more harmful in large markets, governments have a disinclination to sanction firms whose materializes abroad, leniency those who self-report their complement, not su...

As specified by Axelrod in his seminal work An Evolutionary Approach to Norms (Axelrod, 1986), punishment is a key mechanism to achieve the necessary social control and to impose social norms in a self-regulated society. In this paper, we distinguish between two enforcing mechanisms punishment and sanction, focusing on the specific ways in which they favor the emergence and maintenance of coope...

This paper proposes a logic of transgressions for obligations and permissions. A key objective of this logic is to allow deontic conflicts (Lemmon 1962) but without appealing to defeasible or paraconsistent reasoning, or multiple levels of obligation. This logic of transgressions can be viewed as conceptually related to those approaches that formulate obligations in terms of “escaping” from a s...