There is extensive literature on whether courts or legislators produce efficient rules, but which of them produces rules efficiently? The law is subject to uncertainty ex ante; uncertainty makes the outcomes of trials difficult to predict and deters parties from settling disputes out of court. In...

The appellate review system is intended to serve as an efficient remedy for imperfect judicial decision making. However, it can fulfill this task only when appeals are filed solely due to bad verdicts and are ex-ante unpredictable based on factors that are exogenous to the judge. Using data from...

Because verdicts are typically the more costly resolution of legal disputes, most governments are interested in high settlement rates. In this paper, we use a unique dataset of 860 case records from a German trial court to explore which factors have a significant impact on the decision to settle...

In law and economics, it is standard to model legal rules as an opportunity structure. The law's subjects maximize expected profit, given these constraints. In such a model, the reaction to legal innovation is immediate. This is not what we observe after class action is introduced into Israeli...

Few studies on federalism analyze the role of courts as safeguards of the federal arrangement, and those that do tend to be too optimistic about what courts can do. This article analyzes the effect of judicial review on the interaction between the central and a regional government in a...

Because verdicts are typically the more costly resolution of legal disputes, most governments are interested in high settlement rates. In this paper, we use a unique dataset of 860 case records from a German trial court to explore which factors have a significant impact on the decision to settle...

What is the impact of caseload on judicial decision-making? Is increasing judicial staff effective in improving judicial services? To address these questions, we exploit a natural, near-randomized experiment in the Israeli judiciary. In 2012, six senior registrars were appointed in two of the...

This paper puts into perspective enforcement as conducted by the French Financial Market Authority since its creation in 2003 until 2021 with regards to the current state of the literature on financial crimes. We survey exhaustively the three main channels of action: sanctions, settlements...

In some industries, monopoly is natural. One provider can serve the relevant demand cheaper than two or more firms. If the monopoly is not contestable, i.e. not controlled by a credible threat of entry, regulation is necessary. The essential facilities doctrine is one such regulatory tool. It...

The increasing presence of the revolving door across several dimensions of statecraft has prompted the introduction of laws addressing the phenomenon's risks. Focusing on executive branches in charge of issuing and managing government debt - debt management units (DMUs) -, this article delivers...