Gary Becker and George Stigler advocate the privatization of law enforcement. In the present article, we explore the idea …

During the Progressive Era at the beginning of the 20th century, the United States replaced litigation by regulation as … enforcement strategy between litigation and regulation based on the idea that justice can be subverted with sufficient expenditure … environment of significant inequality of wealth and political power. The switch to regulation can then be seen as an efficient …

Attempts to curb undesired behavior through regulation gets complicated when agents can adapt to circumvent enforcement …

establishes an evolutionary mechanism for adapting regulatory structures to technological and regulation-induced innovation. Using …

as they attempt to reform their frameworks for financial regulation. These economies are striving to balance the quest … objectives can in fact reinforce one another. I also discuss aspects of macroeconomic policies and cross-border regulation that …

Regulation consists of rulemaking and enforcement. Economic theory offers two complementary rationales for regulating … arise in multi- party relationships and that regulation introduces opportunities to impose rules that enhance the welfare of … discretion and choose actions for the common good. Agency-cost theories portray regulation as a way to raise the quality of …

I characterize the optimal financial regulation policy in an economy where financial intermediaries trade capital … assets on behalf of households, but must retain an equity stake to align incentives. Financial regulation is necessary …

In the United States today, the system of financial regulation is complex and fragmented. Responsibility to regulate …