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Illicit Markets Unobserved Competitors and Illegal Behavior

Many markets are characterized by illicit or illegal behavior by agents. To the extent that the empirical economic framework does not incorporate these unobserved actions or control for them in estimation, the resulting models are... ver más

31/08/2023

Universität Mannhe...

1M€

Presupuesto del proyecto: 1M€

Líder del proyecto

UNIVERSITAET MANNHEIM No se ha especificado una descripción o un objeto social para esta compañía.

TRL 4-5

Ver 2 Participantes

Financiación concedida El organismo H2020 notifico la concesión del proyecto el día 2023-08-31

Línea de financiación objetivo El proyecto se financió a través de la siguiente ayuda:

ERC-2016-COG: ERC Consolidator Grant

I+D

Cerrada hace 8 años

0% 100% 100%

2 Participantes

Universität Mannheim

1.21M€ | Lider

FRAPE BEHR

574.75K€ | Participante

Últimas noticias

29-11-2024: IDAE En las últimas 48 horas el Organismo IDAE ha otorgado 4 concesiones

29-11-2024: ECE En las últimas 48 horas el Organismo ECE ha otorgado 2 concesiones

29-11-2024: CMVAMADRID En las últimas 48 horas el Organismo CMVAMADRID ha otorgado 37 concesiones

Duración del proyecto: 76 meses Fecha Inicio: 2017-04-27
Fecha Fin: 2023-08-31

Líder del proyecto

UNIVERSITAET MANNHEIM

TRL 4-5

Presupuesto del proyecto 1M€

Descripción del proyecto Many markets are characterized by illicit or illegal behavior by agents. To the extent that the empirical economic framework does not incorporate these unobserved actions or control for them in estimation, the resulting models are likely to be mis-specified. Naturally, if the models do not contain all elements relevant for decision making, then predictions based on the estimates will be misleading, which could result in incorrect policy recommendations. This project directly addresses three situations in which unobserved behavior plays a crucial role. The first concerns markets where consumers engage in illicit behavior. These markets are prevalent in society as they constitute the market for illicit drugs, which is estimated at more than $300 billion per year (UN, 2012). The second concerns markets where firms make strategic decisions in the presence of an unidentified competitor - a counterfeiter, where the global value of counterfeit products rivals that of illegal drugs (OECD, 2007). The third concerns situations where firms use legal tools for illegal purposes, for which the impact is challenging to quantify and one goal of this project. In each area, the project (i) develops state-of-the-art empirical models that incorporate illicit behaviors, (ii) proposes novel estimation methods that can be used to detect illegal behavior, and (iii) provides evidence that the proposed methodology is feasible and the data are sufficient to estimate the models. Incorporating and estimating unobserved behavior in a variety of settings is an ambitious undertaking. However, it is vital as a key objective of the proposal is to provide policy makers with tangible tools that accurately reflect the unobserved nature of these markets. Given the global significance of illicit markets, the novel concepts proposed, and the focus on policy, this project has the potential to make a sizable impact, both in and beyond academia, representing an ambitious but worthwhile pursuit.

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