When judges have discretion over fines and prison terms, sentencing exhibits a tendency" toward efficiency: fines are larger, and prison terms shorter, for offenders with greater ability to" pay. Sentencing guidelines place fairly rigid upper and lower limits on fines and prison terms" and may...

This paper examines the impact of jury racial composition on trial outcomes using a unique data set of felony trials in Florida between 2000 and 2010. We utilize a research design that exploits day-to-day variation in the composition of the <i>jury pool</i> to isolate quasi-random variation in the...

In cooperation with Lex Mundi member law firms in 109 countries, we measure and describe the exact procedures used by litigants and courts to evict a tenant for non-payment of rent and to collect a bounced check. We use these data to construct an index of procedural formalism of dispute...

This article investigates the determinants of the blockbuster punitive damages awards of at least $100 million. As of the end of 2008, there had been 100 such awards with an average value of $3.0 billion. The U.S. Supreme Court decision in State Farm v. Campbell suggested a single digit upper...

We develop a model where products liability trials provide information to consumers who are not parties to the litigation. Consumers use this information to take precautions against dangerous products. A critical assumption is that consumers cannot differentiate between firms that have never...

This article develops two points. First, insurance against the risk of legal change is largely unavailable, primarily because of the correlated nature of the losses that legal change generates. Second, given the absence of insurance against legal change, it is generally desirable for legal...

This is a survey of the field of economic analysis of law, focusing on the work of economists. The survey covers the three central areas of civil law liability for accidents (tort law), property law, and contracts as well as the litigation process and public enforcement of law.

The British North American colonies were the first western economies to rely on legislature-issued paper monies as an important internal media of exchange. This system arose piecemeal. In the absence of banks and treasuries that exchanged paper monies at face value for specie monies on demand,...

Casual empiricism suggests that deceptive advertising about product quality is prevalent, and several classes of theories explore its causes and consequences. We provide some unusually sharp empirical evidence on the extent, mechanics, and dynamics of deceptive advertising. Ski resorts...

In the early twentieth century, education legislation was often passed based on arguments that new laws were needed to force immigrants to learn English and "Americanize." We provide the first estimates of the effect of statutes requiring English as the language of instruction and compulsory...