Self-regulation is common, but comparative analysis of self-regulation and government regulation is rare. This paper identifies conditions determining whether regulation is delegated or centralized, analyzing the welfare implications of regulatory regime choice. Because regulatory authority...

Although a common institutional arrangement, self-regulation as an alternative to direct government regulation has received relatively little attention from economists. This paper uses a framework inspired by property rights theory to analyze the allocation of regulatory authority. In a model of...

We provide a quantitative macrohistory of the evolution and coevolution of three fundamental elements of English caselaw: property, contract, and procedure. Our dataset is derived from a comprehensive corpus of reports on pre-1765 English court cases. Leveraging existing topic model estimates,...