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Legal Origins
Glaeser, Edward L.; Shleifer, Andrei - 2021
A central requirement in the design of a legal system is the protection of law enforcers from coercion by litigants through either violence or bribes. The higher the risk of coercion, the greater the need for protection and control of law enforcers by the state. This perspective explains why, in...
Persistent link: https://www.econbiz.de/10013216846
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Economic Analysis of Property Law
Shavell, Steven - 2021
This part deals with the basic elements of property law. I begin in chapter 7 by examining the fundamental question of what justifies the social institution of property, that is, the rationale for the rights that constitute what we commonly call ownership. I also discuss examples of the...
Persistent link: https://www.econbiz.de/10013221502
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Economic Analysis of Contract Law
Shavell, Steven - 2021
Contract law governs agreements between parties. This paper contains the chapters on contract law from a general, forthcoming book, Foundations of Economic Analysis of Law (Harvard University Press, 2003). Chapter 13 presents an overview of the subject. Chapter 14 is concerned with contract...
Persistent link: https://www.econbiz.de/10013221277
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An Analysis of the Selection of Arbitrators
Bloom, David E. - 2007
This paper analyses data on union and employer rankings of different panels of arbitrators in an actual arbitration …
Persistent link: https://www.econbiz.de/10012777180
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Engineering Informal Institutions : Long-Run Impacts of Alternative Dispute Resolution on Violence and Property Rights in Liberia
Hartman, Alexandra - 2018
Informal institutions govern property rights and disputes when formal systems are weak. Well-functioning institutions should help people reach and maintain bargains, minimizing violence. Can outside organizations engineer improvements and reduce violent conflicts? Will this improve property...
Persistent link: https://www.econbiz.de/10012922221
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Empirical Models of Arbitrator Behavior Under Conventional Arbitration
Bloom, David E. - 2022
about the extent to which conventional arbitration decisions are fashioned as mechanical compromises of the parties' final … in the arbitration decisions, this evidence of mechanical compromise behavior should be viewed as characterizing the … overall operation of conventional arbitration mechanisms and not the behavior of individual arbitrators in any particular case …
Persistent link: https://www.econbiz.de/10013308630
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Risk Sharing Through Breach of Contract Remedies
Polinsky, A. Mitchell - 2021
This paper examines the sharing of risk under three different remedies for breach of contract. The risk considered arises from the possibility that, after a seller and buyer have entered into an agreement for the exchange of some (not generally available) good, a third party who values the good...
Persistent link: https://www.econbiz.de/10013223596
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Public Contracting for Private Innovation : Government Expertise, Decision Rights, and Performance Outcomes
Bruce, Joshua R. - 2018
We examine how the U.S. Federal Government governs R&D contracts with private-sector firms. The government chooses between two contractual forms: grants and cooperative agreements. The latter provides the government substantially greater discretion over, and monitoring of, project progress....
Persistent link: https://www.econbiz.de/10012916603
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An Experimental Comparison of Dispute Rates in Alternative Arbitration Systems
Ashenfelter, Orley - 2011
This paper reports the results of a systematic experimental comparison of the effect of alternative arbitration systems …" awards in the different arbitration systems. This allows us to compare dispute rates across different arbitration procedures … where we hold fixed the amount of objective underlying uncertainty about the arbitration awards.There are three main …
Persistent link: https://www.econbiz.de/10013125635
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Trial and Settlement : A Study of High-Low Agreements
Prescott, J.J. - 2014
This paper presents the first systematic theoretical and empirical study of high-low agreements in civil litigation. A high-low agreement is a private contract that, if signed by litigants before the conclusion of a trial, constrains any plaintiff recovery to a specified range. Whereas existing...
Persistent link: https://www.econbiz.de/10013057416