We develop a strategy to measure the economic costs of poorly written laws, a potential threat to the rule of law. Using the full corpus of Italian legislation, we show that legal uncertainty - measured by the probability of disagreement between the Supreme Court of Cassation and lower courts -...

To what extent can Art. 5(2) of the Digital Markets Act (DMA) limit effectively the data combination abilities of gatekeepers? Gatekeepers are able to achieve significant data advantages by collecting and combining personal data from various sources. Looking at the example of Meta, it can use...

We study "willful ignorance" - choosing not to learn whether a task is illegal - in a lawmaker-principal-agent game and characterize the penalty policies that implement welfare-maximizing behavior. The model delivers an implementability frontier : which equilibrium behaviors can exist and be...

The Commissioner-designate made a number of commitments in his written and oral responses. These are highlighted in this document, which has been produced to support Parliament's scrutiny of the Commission over the course of the 2024-2029 term, including through the Committees' annual structured...

The Commissioner-designate made a number of commitments in his written and oral responses. These are highlighted in this document, which has been produced to support Parliament's scrutiny of the Commission over the course of the 2024-2029 term, including through the Committees' annual structured...

We develop a strategy to measure the economic costs of poorly written laws, a potential threat to the rule of law. Using the full corpus of Italian legislation, we show that legal uncertainty - measured by the probability of disagreement between the Supreme Court of Cassation and lower courts -...

This study investigates how institutional rules and fairness in enforcement affect cooperation and compliance in heterogenous groups. In a preregistered online experiment (n = 1, 254), we vary both the existence of a rule governing contributions to a public good as well as whether enforcement of...

Prominent scholars have complained of inadequate clarity and agreement on what transactions are, and how their costs are measured. This two-part article explores this topic and suggests an alternative approach. This part examines different meanings of transaction cost used by leading scholars in...

The employment share of legal services in the U.S. more than doubled during 1970–1990, in stark contrast to stability during 1850–1970 and after 1990. The relative wage of lawyers and law firm partners also doubled between 1970 and 1990. We argue that this demand shift was driven by...

Das Gebot innerparteilicher Demokratie will die Grundlage für einen freien und gleichen Wettbewerb in den politischen Parteien schaffen. Mithilfe rechtsökonomischer Methoden und einer eigenen empirischen Studie untersucht Jacob Ulrich, ob das Parteienrecht und die Satzungen der Parteien den...

Rapidly improving artificial intelligence (AI) technologies have created opportunities for humanmachine cooperation in legal practice. We provide evidence from an experiment with law students (N=206) on the causal impact of machine assistance on the efficiency of legal task completion in a...

Recent experience in civil litigation, particularly with opt-out class actions against corporations for competition law offences, has highlighted the efficiency of 'dual enforcement' as a strategy for fighting corporate crime. The success of the opt-out class action regime has resulted in...

We examine the relationship between scientific knowledge and the legal system with a focus on the exclusion of expert testimony from trial as ruled by the Daubert standard in the US. We introduce a simple framework to understand and assess the role of judges as “gatekeepers”, monitoring the...

Exponential progress in the area of ICT improves access to data and information, which in its turn can lead to greater accessibility, reduced complexity, efficiency and respect of fundamental rights in policy, law making and implementation of law. Drafting and publication of laws need to be...

Exponential progress in the area of ICT improves access to data and information, which in its turn can lead to greater accessibility, reduced complexity, efficiency and respect of fundamental rights in policy, law making and implementation of law. Drafting and publication of laws need to be...

In today’s globalized competitive landscape several dimensions such as labour, markets and capital are integrated. As a result, companies attempt to gain inbound foreign capital. To achieve that they investigate away countries to host their operations and to trade their shares. While the...

Legal academics, journalists, and senior executive branch officials alike have assumed that the cost of imposing new regulatory requirements is higher in severe recessions that drive the central bank's policy rate to zero than in other times. This is not correct; the aggregate output costs of...

The relevance of the study is due to the presence of some problematic aspects in the institute of representation of Kazakhstan, in connection with which the level of effectiveness of citizens' realisation of their inherent rights decreases. The study aims to evaluate recommendations for removal,...

Rational parties enter into a contract if the agreement is mutually beneficial. However, after the contract is formed, changes to the costs and/or benefits of performance may render the original contract undesirable. In this paper, we carry out an incentivized experiment to study the effect of...

This chapter, forthcoming in the Research Handbook on Law and Time (F. Fagan & S. Levmore eds., Edward Elgar 2024), offers a contribution to the economics of legal transition. It argues that the lawmaker should mitigate the burden generated by the risk of legal change by avoiding "extreme"...