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It is generally agreed that the conviction of an innocent person (type-I error) should be avoided even at the cost of allowing a certain number of acquittals of criminals (type-II error). The high standard of evidence that is usually required in criminal procedure reflects this principle. Conversely, the established model of optimal deterrence that follows the seminal work of Becker (1968) shows that the two types of error are equally detrimental in terms of deterrence and thus it prescribes the minimization of the sum of errors with no primacy given to type-I errors over type-II errors. This paper explains that when the costs of punishment are positive, and guilty individuals are, on average, more likely to be found guilty than innocent ones, wrongful convictions are more socially costly than wrongful acquittals. This justifies the bias against wrongful convictions without resorting to any ad hoc assumption about the relative weight of the two errors. Adapted from the source document.

In this paper we outline the economic rationale behind the virtual strike, and workers' incentives to use this bargaining solution rather than resorting to standard strike action. We show that, from a welfare perspective, a well-designed virtual strike always dominates a standard strike and it would be most needed precisely when workers have weaker incentives to adopt it. We then discuss the pros and cons of legally regulating the virtual strike rather than leaving it to self-regulation. Finally, we apply our findings to the analysis of Italy's draft legislation on virtual strikes. ; info:eu-repo/semantics/publishedVersion

AbstractIn all legal systems, possession and property are inextricably linked. Game theory captures this relationship in the Hawk–Dove game: players competing for an asset are better off when the possessor plays Hawk and the intruder plays Dove (the bourgeois strategy) so that property can emerge as a spontaneous convention. This theory has been supported by large experimental evidence with animals. This paper presents a lab experiment where possession is manipulated to study the emergence of the property convention with human subjects. We show that the highest coordination emerges when possession is achieved meritoriously and that possession induces only bourgeois coordination (never antibourgeois).

ABSTRACTIn recent literature, various social implications arising from the COVID‐19 pandemic have been extensively deliberated upon. In this study, we introduce an ordinal random effects model designed to explore the changes in individual perceived happiness during periods of lockdown. We delve into the impact of diverse factors such as social and family relationships, spirituality, religiosity, and trust in institutions, alongside a range of demographic and economic variables. Our data set comprises responses from 1212 individuals in the United States gathered between March and April 2020. The findings reveal an anticipated decline in overall happiness during the COVID‐19 crisis, particularly noticeable within specific demographic and behavioural segments: social connections, trust, and religiosity exhibit nuanced variations, contingent upon the level of spirituality and the specific institutions under consideration.