We provide empirical evidence both on the causes and the effects of liability reforms. Using a newly collected data set of state tort laws and a panel data set containing industry-level data by state for the years 1969-1990, we (1) identify the characteristics of states that are associated with...

We provide empirical evidence both on the causes and the effects of liability reforms. Using a newly collected data set of state tort laws and a panel data set containing industry-level data by state for the years 1969-1990, we (1) identify the characteristics of states that are associated with...

Homeschooling, the most extreme form of privatization of education, often eliminates the possibility of the child gaining the resources essential for success in adult life. It sacrifices the interests of the child to the interests of the parents, allowing them to control and isolate the child's...

For more than two centuries, supporters of school choice programs, such as homeschooling, have attempted to invoke economic analysis. They have argued that school choice will cause public schools to improve because the public schools will no longer be monopolies; the new competition will...

Our analysis of the market for professional baseball players shows that domestic labor-market restrictions have reduced domestic employment, especially of African-Americans, with employers instead shifting employment overseas. Our theoretical model suggests that, in 1965, the imposition of both...

Economic analysis demonstrates that, continuing from its intentionally racist beginnings in the 1920s, the American Bar Association's system for accrediting law schools excludes most African-Americans from the legal profession, while allowing whites to enter. The discriminatory impact of ABA...

Why does Delaware continue to dominate the market for incorporations even though recent research has shown that the quality of Delaware corporate law has declined substantially? We focus on the rational ignorance of lawyers and investors. Using the results of our survey of lawyers involved in...