This paper shows how uninformed but rational voters can respond intelligently to political advertising. The paper models a situation where a candidate must rely on a pressure group for financing political advertising. The pressure group uses its power over the purse to influence the position...

The optimal organization of the family requires that relations are structured so that non-cooperative game playing is minimized and transaction costs are reduced. I show that therapeutic advice for behavior within the family is to create a functioning property rights system. Punishment is shown...

We consider an election that is solely concerned with redistribution of income. It is well known that when voters are selfish, there is no political equilibrium. We consider the case where voters are modestly altruistic. We demonstrate that modest altruism results in a unique political...

We construct game-theoretic foundations for bargaining in the shadow of a trial. Plaintiff and defendant both have noisy signals of a common-value trial judgment and make simultaneous offers to settle. If the offers cross, they settle on the average offer; otherwise, both litigants incur an...

Providing students with a solid grounding in the economic analysis of the law, this reader brings together edited versions of diverse and challenging journal articles into a unified collection. Chosen to provoke thought and discussion, these carefully streamlined articles apply economic theories...

Recommended readings (Machine generated): Henry Hansmann (1988), 'Ownership of the Firm', Journal of Law, Economics, and Organization, IV (2), Fall, 267-304 -- Paul H. Rubin (1978), 'The Theory of the Firm and the Structure of the Franchise Contract', Journal of Law and Economics, 21 (1), April,...

We construct game theoretic foundations for bargaining in the shadow of a trial. Plaintiff and defendant both have noisy signals of a common-value trial judgment and make simultaneous offers to settle. If the offers cross, they settle on the average offer; otherwise, both litigants incur an...

We show that status-quo bias combined with downward-sloping demand implies addictive behavior. This result does not depend on transitivity, a complete ordering, or even the existence of a preference relation that rationalizes choices

Candidates may vary in quality, where quality is some characteristic orthogonal to policy. This "simple modification" has for the most part defied integration into the Downsian framework. Here we add the following complicating factors. We consider the possibility that there are uninformed voters...