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Legal evolution, contract evolution and standardization

Gennaioli, Nicola; Perotti, Enrico; Ponzetto, Giacomo A. M. - Department of Economics and Business, Universitat … - 2013

In a model where biased judges can distort contract enforcement, we uncover positive feedback effects between the use of innovative contracts and legal evolution that improve verifiability and contracting over time. We find, however, that the cost of judicial bias also grows over time because...

Persistent link: https://www.econbiz.de/10010849608

Deciding analytically or trusting your intuition? The advantadges and disadvantadges of analytic and intuitive thought

Hogarth, Robin - Department of Economics and Business, Universitat … - 2002

Recent research has highlighted the notion that people can make judgments and choices by means of two systems that are labeled here tacit (or intuitive) and deliberate (or analytic). Whereas most decisions typically involve both systems, this chapter examines the conditions under which each...

Persistent link: https://www.econbiz.de/10005772107

Is confidence in decisions related to feedback? Evidence-and lack of evidence-from random samples of real-world managerial behavior?

Hogarth, Robin - Department of Economics and Business, Universitat … - 2003

Confidence in decision making is an important dimension of managerial behavior. However, what is the relation between … confidence, on the one hand, and the fact of receiving or expecting to receive feedback on decisions taken, on the other hand? To … the two groups, their structure, feedback (received and expected), and confidence in decisions taken as well as in the …

Persistent link: https://www.econbiz.de/10005772371

Tying up the loose ends in simple correspondence analysis

Greenacre, Michael - Department of Economics and Business, Universitat … - 2006

Although correspondence analysis is now widely available in statistical software packages and applied in a variety of contexts, notably the social and environmental sciences, there are still some misconceptions about this method as well as unresolved issues which remain controversial to this...

Persistent link: https://www.econbiz.de/10005704906

Standardized enforcement: Access to justice vs contractual innovation

Gennaioli, Nicola; Perotti, Enrico - Department of Economics and Business, Universitat … - 2009

We model the different ways in which precedents and contract standardization shape the development of markets and the law. In a setup where more resourceful parties can distort contract enforcement to their advantage, we find that the introduction of a standard contract reduces enforcement...

Persistent link: https://www.econbiz.de/10010696467

The titling role of possession

Arruñada, Benito - Department of Economics and Business, Universitat … - 2014

This chapter proposes two hypotheses on the publicity requirement and the limitations of possession to provide information for legal titling. It then tests these hypotheses by examining how legal systems deal with possession in movable and immovable property, and comparing actual and documentary...

Persistent link: https://www.econbiz.de/10011195694

The institutions of Roman markets

Arruñada, Benito - Department of Economics and Business, Universitat … - 2015

I analyze the basis of the market economy in classical Rome, from the perspective of personal-versus-impersonal exchange and focusing on the role of the state in providing market-enabling institutions. I start by reviewing the central conflict in all exchanges between those holding and those...

Persistent link: https://www.econbiz.de/10011195696

Property as an economic concept: Reconciling legal and economic conceptions of property rights in a Coasean framework

Arruñada, Benito - Department of Economics and Business, Universitat … - 2012

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...

Persistent link: https://www.econbiz.de/10010849640

Registries

Arruñada, Benito - Department of Economics and Business, Universitat … - 2014

Governments and international development agencies often fail in their efforts to build and reform property and company registries. They implement misguided policies rooted in a poor understanding of the role that registries play in the modern economy. This work aims to remedy this situation by...

Persistent link: https://www.econbiz.de/10011099201

Electronic titling: Potential and risks

Arruñada, Benito - Department of Economics and Business, Universitat … - 2009

Initiatives in electronic conveyancing and registration show the potential of new technologies to transform such systems, reducing costs and enhancing legal security. However, they also incur substantial risks of transferring costs and risks among registries, conveyancers and rightholders,...

Persistent link: https://www.econbiz.de/10008560947