not look like the perfectly competitive model on which the theory depends for its conclusions. Further, there are many …

This article surveys the theory of the public enforcement of law -- the use of public agents (inspectors, tax auditors …, police, prosecutors) to detect and to sanction violators of legal rules. We first present the basic elements of the theory … examine a variety of extensions of the central theory, concerning accidental harms, costs of imposing fines, errors, general …

One of the principal results in the economic theory of liability is that, assuming litigation is costless, the rule of …