In this paper, we argue that the joint use of ex-ante regulation and ex-post liability rules is efficient when there are uncertainty surrounding causal investigations and regulatory myopia. As these conditions are generally met in environmental cases, we provide an explanation for the frequent...

The paper addresses the divergence in majority rules at the moment of creating or reforming constitutions. While constitutions require, in most cases, qualified majorities in order to be approved at the constitutional assembly, they normally require only simple majorities to be ratified at the...

This paper shows how network theory can improve our understanding of institutional investors' voting behavior and, more generally, their role in corporate governance. The standard idea is that institutional investors compete against each other on relative performance and hence might not cast...

This paper uses network theory to argue that the consequences of horizontal ownership by large investment institutions are more complicated than, and sometimes completely the opposite of, what conventional economic theory predicts. Horizontal ownership occurs when a large investment institution,...

This paper argues that a mitigated strict liability regime can incentivize Credit Rating Agencies (CRAs) to produce ratings as accurate as the available forecasting technology allows. A damage cap based on objective factors is introduced in order to avoid crushing liability. Moreover, CRAs are...

This Article suggests a link between insider trading regulation and macroeconomic risk. Current securities laws do not explicitly prohibit a company insider from trading in the stocks of her company’s suppliers, customers, competitors, and complementors (based on material, non-public...