Adopting a simplistic view of Coase (1960), most economic analyses of property rights disregard both the key advantage that legal property rights (that is, in rem rights) provide to rightholders in terms of enhanced enforcement, and the difficulties they pose to acquirers in terms of information...

This book explains how public registries strengthen property rights and reduce transaction costs, analyzes the main tradeoffs in their organization, and proposes principles for successfully developing registries in countries at different stages of development. The book focuses on land and...

Our laws have sought to promote “and enforce a sense of morality in the business community. Well-settled laws regulating fraud, undue influence, fiduciary relationships, confidential information, truth-in-advertising, fair reporting practices, etc., have their origins in moral codes and...

This entry for the forthcoming The New Palgrave Dictionary of Economics (Second Edition) surveys the economic analysis of five primary fields of law: property law; liability for accidents; contract law; litigation; and public enforcement and criminal law. It also briefly considers some...

The Trust Indenture Act prohibits a binding vote of bondholders to change any core term-principal amount, interest rate, or maturity date-of a bond issue. In this Article, I show how the prohibition on a collective action clause inhibits a troubled company's ability to reorganize outside of...

This chapter considers the landmark status of the House of Lords in Thorner v Major [2009] UKHL 18, understanding it as an example of story-telling in the law. The chapter explores the issues surrounding the equitable doctrine of proprietary estoppel, as it applies in particular in the context...

Following concerns that the art market is being used to launder criminal money and fund terrorist activities, measures have recently been introduced to subject the market to the anti-money laundering (AML) regime – such as the EU 5th Money Laundering Directive (2018) and the US Illicit Art and...

The goal of this article is to advance the theory of legal entitlements by developing a new theory of autonomy entitlements to describe fundamental constitutional rights and other individual liberties. Such rights, a primary objective of which is to provide, directly or indirectly, a zone of...