Previous empirical studies have found a positive relationship between the size of legislature and the size of government. Those studies, however, do not adequately address the concerns of endogeneity. In contrast, this paper uses variation in legislature size induced by statutory council size...

Legal process involves both information gathering and decisionmaking components. The field of legal procedure defines rules the affect the cost of accuracy of the legal process. Two important aspects of legal process involve the specification of relevent issues and the interaction between...

There is extensive literature on whether courts or legislators produce efficient rules, but which of them produces rules efficiently? Is there an optimal mix of litigation and legislation? The law is inevitably subject to a certain degree of uncertainty ex ante; uncertainty makes the outcomes of...

This paper analyses the evolution of the leading market social economy organisations in Spain since the Constitution of 1978. The first part concerns a study of co-operatives and workers societies; the second refers to mutual societies. An analysis of the institutional framework, this sector's...

Under certain circumstance, a relaxation in occupational licensing standards can increase the quality of those who enter the industry. The effect turns on the opportunity costs of preparing for the licensing examination: making the test easier can increase the quality of those passing if it...

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...

An ongoing problem in the application of U.S. antitrust law is the delineation of the appropriate product market. Demand and supply substitutability, as measured by the coefficients of cross elasticity of demand and the coefficient of elasticity of supply, respectively, were introduced in the...

On 1st October 2011 a new Romanian Civil code has been enacted, which has included therein the regulations of commercial law. This new regulation meant not only taking some provisions from the former Commercial Code, thus repealed, but also redefining some institutions of business law and...