The paper proposes a mechanism that may implement first-best effort in simultaneous teams. Within the framework of this mechanism, each team members is obliged to make a fixed, non-contingent payment, and chooses his individual effort. After the output is produced, each team member receives a...

Anti-Sharing may solve the sharing problem of teams: the team members promise a fixed payment to the Anti-Sharer. He collects the actual output and pays out its value to them. We prove that the internal Anti-Sharer is unproductive in equilibrium.

This comprehensive textbook published by Oxford University Press applies economic analysis to public law. The economic analysis of law has revolutionized legal scholarship and teaching in the last half-century, but it has focused mostly on private law, business law, and criminal law. This book...

Compared to budget-balanced Sharing contracts, Anti-Sharing may improve the efficiency of teams. The Anti-Sharer collects a fixed payment from all team members; he receives the actual output and pays out its value to them. If a team members becomes Anti-Sharer, he will be unproductive in...

Besides deterring people, laws may affect behavior by changing preferences or beliefs. A law may elicit intrinsic motivation by framing an act as wrong. Alternatively, it may coordinate the behavior of different people by changing their beliefs about what others will do. We investigate framing...

Like constructing a building, performance on many contracts occurs in phases. As time passes, the promisor sinks more costs into performance and less expenditure remains. For phased performance, we show that optimal liability for the breaching party decreases as the remaining costs of completing...

This chapter addresses a new and fertile research program: constitutional law and economics. Constitutional law and economics asks questions like, ‘What is the extent of the U.S. Congress's power to regulate commerce?'; ‘How much legislative authority can be delegated to administrators?';...

Compared to budget-balanced Sharing contracts, Anti-Sharing may improve the efficiency of teams. The Anti-Sharer collects a fixed payment from all team members; he receives the actual output and pays out its value to them. If a team members becomes Anti-Sharer, he will be unproductive in...

Economics, which has greatly advanced deterrence theory, has made no contribution to understanding how law changes peoples’ values. I combine economics and psychology to offer the framework for such a theory. Rational self-development involves treating yourself as the means to achieve...