An important question in the economic study of enforcement is the appropriate, and the actual, division of responsibilities between public and private enforcers. This question has been brought into sharp focus recently by an article in which Gary Becker and George Stigler advocate the...

The efficiency of common law rules is central to achieving efficient resource allocation in a market economy. While many theories suggest reasons why judge-made law should tend toward efficient rules, the question whether the common law actually does converge in commercial areas has remained...

In this essay, we discuss empirical research on the economic effects of the civil justice system. We discuss research on the effects of three substantive bodies of law- contracts, torts, and property- and research on the effects of the litigation process. We begin with a review of studies of...

The controversies surrounding gun control policies have recently moved to the forefront of public's attention in the United States and elsewhere. Since 2005, eighteen states in the United States have passed laws extending the right to self-defense with no duty to retreat to any place a person...

From 2000 to 2010, more than 20 states passed laws that make it easier to use lethal force in self-defense. Elements of these laws include removing the duty to retreat in places outside of one's home, adding a presumption of reasonable belief of imminent harm, and removing civil liability for...

Despite the growing need for surrogate decision-making for older adults, little is known about how surrogates make decisions and whether advance directives would change decision-making. We conducted a nationally representative experimental survey that cross-randomized cognitive impairment,...

We exploit a 2004 credit reform in Brazil that simplified the sale of repossessed cars used as collateral for auto loans. We show that the change has led to larger loans with lower spreads and longer maturities. The reform expanded credit to riskier, low-income borrowers for newer, more...

Innovationen sind ein zentrales Element zur Erhaltung der Wettbewerbsfähigkeit Deutschlands in einer globalisierten Weltwirtschaft. Waren die Innovationsanstrengungen von Wirtschaft und Politik in der Vergangenheit vorrangig darauf ausgerichtet, auf Forschung und Entwicklung basierende...