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Persistent link: https://www.econbiz.de/10003498654
We propose a forensic approach to investigate the politico-economic forces that influence narrow vote outcomes in legislative assemblies. Applying nonparametric estimation techniques to a data set covering all roll call votes between 1990 and 2014, we can identify the existence of precise...
Persistent link: https://www.econbiz.de/10011509565
Criminal law enforcement depends on the actions of public agents such as police officers, but the resulting agency problems have been neglected in the law and economics literature (especially outside the specific context of corruption). We develop an agency model of police behavior that...
Persistent link: https://www.econbiz.de/10010509622
In a Case Law regime Courts have more flexibility than in a Statute Law regime. Since Statutes are inevitably incomplete, this confers an advantage to the Statute Law regime over the Case Law one. However, all Courts rule ex-post, after most economic decisions are already taken. Therefore, the...
Persistent link: https://www.econbiz.de/10003748330
This paper analyzes the incentive properties of the standard and burden of proof for a finding of negligence, when evidence is imperfect and rests with the parties. We show that the preponderance of evidence' standard provides maximal incentives to exert care. This holds even though litigants...
Persistent link: https://www.econbiz.de/10011409967
Historically, people have often expressed negative feelings toward speculators, a sentiment that might have even been reinforced since the latest financial crisis, during which taxpayer money was warranted or spent to bail out reckless investors. In this paper, we conjecture that judges may also...
Persistent link: https://www.econbiz.de/10011936293
I consider a model in which an asset owner must decide how much to invest in his asset mindful of the fact that an encroacher's valuation of the asset is increasing in the asset owner's investment. Due to incomplete property rights, the encroacher and asset owner engage in a contest over the...
Persistent link: https://www.econbiz.de/10003861788
Persistent link: https://www.econbiz.de/10003624559
Persistent link: https://www.econbiz.de/10003598834
countries with less secure property rights. The theory suggests that adjusted net saving estimates calculated by the World Bank …
Persistent link: https://www.econbiz.de/10003942714