South Africa’s transition from apartheid to democracy stands as one of the past century’s most important political events. The major hurdle to the transition was for the poor majority ANC to provide a credible promise not to exploit the full economic resources of the then ruling...

It is commonly thought that a lawyer working under a contingent fee arrangement has an excessive motive — relative to his client’s interest — to settle the case, leading to a lower-than-desirable settlement amount and a high settlement rate. The conventional analysis that...

This article studies optimal remedies in a setting in which damages vary among plaintiffs and are difficult to determine. We show that giving plaintiffs a choice between coupons to purchase units of the defendant’s product at a discount and cash — a coupon-cash remedy — is...

South Africa’s transition from apartheid to democracy stands as one of the past century’s most important political events. The transition has been successful to this point because the new constitution adopted a form of federal governance that has been able to provide protection for...

The potential conflict of interest between lawyers and clients is well known. If a lawyer is paid for his time regardless of the outcome of the case,the lawyer may wish to bring the case even when it is not in the best interest of the client, may spend more hours working on the case than the...

We present a method to calibrate empirically the demand parameters in a merger simulation model by using brand-level profit margin data. While the approach can be generalized, we develop these ideas within a particular framework — the PCAIDS (proportionality-calibrated AIDS) model. We...

In this paper we investigate the claim that academic journals are too expensive. We estimate library demand for academic journals and ask if short run profit maximization by publishers can explain observed prices. Libraries purchase a portfolio of journals so to estimate demand we extend the...

Consumers injured by price overcharges often are awarded coupons that can be used for a limited period of time to purchase the good at a price below that which prevails after the overcharge has been eliminated. Coupon remedies cause a deadweight loss by inducing excessive consumption by...

This article evaluates two different remedies for consumers who have been injured by a price overcharge on the sale of a good. Under a coupon remedy, injured consumers are awarded coupons that can be used for a limited period of time to purchase the good at a price below that which prevails...

Not available