Our underlying premise in this article is that a government is likely to bolster its legitimacy when it uses legal decision-making procedures in which the public has confidence. Our findings, which are based on a survey about options for resolving disputes in the land use arena, identify an...

The endowment effect is the seemingly irrationally tendency to immediately value a possessed item more than the opportunity to acquire the identical item when one does not already possess it. The phenomenon has broad legal implications, as it suggests a drag on trade, occasioned by inconsistent...

Hundreds of studies demonstrate human cognitive biases that are both inconsistent with “rational” decisionmaking and puzzlingly patterned. One such bias, the “endowment effect” (also known as “reluctance to trade”), occurs when people instantly value an item they have just acquired...

Cooperation has been vital to the evolution of all living things, including single-celled organisms (Velicer, 2005, 2003; Velicer and Stredwick, 2002; Crespi, 2001; Velicer et al., 2000; Boorman and Levitt, 1980), fish (Brosnan et al., 2003; Dugatkin, 1991, 1992, 1997; Milinski, 1987), birds (Brown and Brown, 1996; Faaborg...

Multiperiod models of criminal enforcement based on the standard economic approach of Becker (1968) generally find that the optimal penalty structure is either flat or declining. We present the first experimental test of a two‐stage theoretical model that predicts decreasing penalty structures...

Sanctions are a common method to discourage free-riding in the provision of public goods. However, we can usually only sanction those who are detected performing the bad act of free-riding. There has been considerable research on the type of sanctions imposed, but this research almost always...