In Roman law, manifest theft (essentially, one in which a thief was caught in the act) was punished with a more severe penalty than non-manifest theft. This legal policy seems to contradict the economic theory of efficient deterrence. In this paper, we try to explore how economic analysis of...

Introduction to the Twenty-Second Annual Conference of the European Association of Law and Economics, Ljubljana, Slovenia

The felony murder rule would appear to be an anomaly in the common law. It represents one of the very few instances in criminal law where the element of intent is waived. Criticism of the rule is almost uniform among scholars and commentators, yet it endures in most jurisdictions throughout the...

The earliest economic theory of discrimination proposed the subsequently neglected idea of a "vicious circle" of discrimination (Myrdal, 1944). We draw on psychological evidence (that people derive utility from believing that the world is just) to propose a behavioral economic model in which the...

The 23rd Annual Conference of the European Association of Law and Economics (EALE) was held September 14-16, 2006 in Madrid, Spain. Five papers have survived a strictly anonymous refereeing procedure of the highest standard as the ones to be published here in the Review of Law and Economics.