Why do successful constitutions have the attributes characteristically associated with the rule of law? Why do constitutions involve public reasoning? And, how is such a system sustained as an equilibrium? In this paper, we adapt the framework in our previous work on “what is law?” to the...

Although most economic and positive political theory presumes the existence of an effective legal regime (protecting property rights or implementing legislative or judicial choices, for example), behavioral social science has devoted little systematic attention to the question of what...

Why is it important for people to agree on and articulate shared reasons for just laws, rather than whatever reasons they personally find compelling? What, if any, practical role does public reason play in liberal democratic politics? We argue that the practical role of public reason can be...

The United States economy is struggling to recover from its worst economic downturn since the Great Depression. After several huge doses of conventional macroeconomic stimulus - deficit-spending and monetary stimulus - policymakers are understandably eager to find innovative no-cost ways of...

In this chapter, I first discuss why we need to think of legal infrastructure as economic infrastructure requiring focused economic policymaking, what is wrong with our existing legal infrastructure and why we need to change our modes of legal production. I then set out a vision of what greater...

Legal philosophers have long debated the question, what is law? But few in social science have attempted to explain the phenomenon of legal order. In this paper we build a rational choice model of legal order in an environment that relies exclusively on decentralized enforcement, such as we find...

In this paper I report the results of a quantitative and qualitative empirical study of how those who were injured or lost a family member in the September 11, 2001 terrorist attacks evaluated the tradeoff between a cash payment - available through the Victim Compensation Fund - and the pursuit...

Much of the existing literature investigating the relationship between legal regimes and economic growth focuses on the agency problem of aligning judicial incentives with social welfare and is relatively free of institutional detail beyond abstractions about common law and civil code regimes....

Multijuralism is a fundamental attribute of the globalizing world, not merely as a result of the public creation of multijural states or trading zones, but also as a result of privately generated multi-jurisdictional transactions and relationships. Both public and private rule-making are...

In the last two decades, the economy has undergone fundamental transformation with the twin structural changes of a great increase in the size of global markets and the internet-driven development of a platform for global exchange and work processes. These changes have transformed the economic...