Should loss of earnings be compensated? The established law and economics wisdom considers pure economic loss as a transfer of wealth from the victim to a third party, whose earnings increase as a consequence of the accident. Such transfers do not amount to a social loss and, hence, should not...

In this paper, we have modeled and examined effects of two salient features of the eminent domain law and its use. First, in most legal orders the compensation for taking of land property is less than full compensation according to the 'differential method' used under civil liability. Second,...

The internet technology allows the harvesting, storage, and processing of large datasets about individuals and things. When new datasets are derived from the raw data, new information is generated, which can be both privately profitable and socially productive, serving to realize economies of...