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Tax Policy, Venture Capital, and Entrepreneurship
Keuschnigg, Christian - 2000
The paper studies the effects of tax policy on venture capital activity. Entrepreneurs pursue a single high risk project each but have no own resources. Financiers provide equity finance. They must structure the entrepreneur's profit share and base salary to assure their incentives for full...
Persistent link: https://www.econbiz.de/10012470760
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Optimal Risk Management Using Options
Ahn, Dong-Hyun - 1997
This paper addresses the question of how an institution might optimally manage the market risk of a given exposure. We provide an analytical approach to optimal risk management under the assumption that the institution wishes to minimize its Value-at-Risk (VaR) using options follows a geometric...
Persistent link: https://www.econbiz.de/10012472656
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The Government as Litigant : Further Tests of the Case Selection Model
Eisenberg, Theodore - 1999
We develop a model of the plaintiff's decision to file a law suit that has implications for how differences between the federal government and private litigants and litigation translate into differences in trial rates and plaintiff win rates at trial. Our case selection model generates a set of...
Persistent link: https://www.econbiz.de/10012471488
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The Economic Theory of Public Enforcement of Law
Polinsky, A. Mitchell - 1999
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 …
Persistent link: https://www.econbiz.de/10012471807
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Economic Analysis of Law
Kaplow, Louis - 1999
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
Persistent link: https://www.econbiz.de/10012471847
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The Welfare Implications of Costly Litigation in the Theory of Liability
Polinsky, A. Mitchell - 1986
One of the principal results in the economic theory of liability is that, assuming litigation is costless, the rule of …
Persistent link: https://www.econbiz.de/10012477242
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Suit and Settlement vs. Trial : A Theoretical Analysis under Alternative Methods for the Allocation of Legal Costs
Shavell, Steven - 1981
Will a party who believes that he has a legally admissible claim for money damages decide to bring suit? if so, will he subsequently settle with the opposing party or will he go ahead to trial? These questions are analyzed under four methods for allocating legal costs, namely, under the American...
Persistent link: https://www.econbiz.de/10012478459
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Resolving Nuisance Disputes : The Simple Economics of Injunctive and Damage Remedies
Polinsky, A. Mitchell - 1980
In nuisance-type cases, legal commentators generally recommend -- and the courts seem to increasingly use -- the award of damages rather than the granting of an injunction of the harmed party. This essay compares the economic consequences of injunctive and damage remedies under a variety of...
Persistent link: https://www.econbiz.de/10012478681
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Strict Liability versus Negligence in a Market Setting
Polinsky, A. Mitchell - 1980
This paper formally analyzes strict liability and negligence in a market setting. The discussion emphasizes the impact of the rules on the market price and on the number of firms in the industry. For simplicity, the damage caused by each firm is assumed to be determined only by that firm's...
Persistent link: https://www.econbiz.de/10012478725
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Altruism in Law and Economics
Landes, William M. - 1977
A classic example of external benefits is the rescue of the person or property of strangers in high transaction cost settings. To illustrate, A sees a flowerpot about to fall on B's (a stranger's) head; if he shouts, B will be saved. A thus has in his power to confer a considerable benefit on B....
Persistent link: https://www.econbiz.de/10012478919