A substantial number of regulatory frameworks are commonly viewed by impartial observers as inordinately complex. Is there an explanation for this phenomenon? Employing a partial equilibrium model, this paper approaches the problem of complexity from a political-economy vantage point. It...

A substantial number of regulatory frameworks are commonly viewed by impartial observers as inordinately complex. Is there an explanation for this phenomenon? Employing a partial equilibrium model, this paper approaches the problem of complexity from a political-economy vantage point. It...

The American and some other constitutions entrench property rights by requiring super majoritarian voting amending or revoking their own provisions. Following Buchanan and Tullock [5], this paper analyzes individuals' interests behind a veil of ignorance, and shows that under some standard...

The American and some other constitutions entrench property rights by requiring super majoritarian voting as a condition for amending or revoking their own provisions. Following Buchanan and Tullock [5], this paper analyzes individuals' interests behind a veil of ignorance, and shows that under...

Applying a partial equilibrium model, this paper examines the role of the rate of increase in the level of professional knowledge and the role of the rate of replacement of "old" for "new" knowledge on the equilibrium concentration level in a market for professional services. The two main...

<p dir="rtl">רק בורסה אחת – הבורסה לניירות-ערך בתל-אביב בע"מ – הורשתה על-פי חוק לנהל עסקי בורסה בישראל. עם זאת קמו בישראל, כמו-גם במקומות רבים אחרים בעולם הרחב, זירות מסחר...</p>

Dr. Procaccia contends that courts should not allow subrogation by an employer's liability carrier against a defaulting employee because such actions would have serious socioeconomic consequences for some of the parties involved

A reform of any body of law necessitates adopting new legal ground rules designed to improve the current situation. A reform is judged significant when the new rules have a major impact on society's daily life. In this respect, the last major reform in corporation law did not take place in the...