Economic analysis has contributed to a better understanding and a better functioning of law at different levels of generality. As far as legal reasoning is concerned, these contributions fall into two large groups. Economics in legal reasoning concerns arguments about the purposes and...

As the implementation of the Energiewende in Germany is making itself increasingly felt in the distribution networks, this paper explores how the growing amount of distributed renewable energy impacts the Distribution System Operator (DSO) and its responsibility for public values, such as the...

This paper puts forward an alternative path, next to regulatory competition models and comparative law endeavors, called legal emulation. Regulatory competition suffers from its very restrictive assumptions, which make it a relatively rare occurrence in practice. It is also endogenously driven,...

The objectives of this paper are to: (i) describe the fining policy of the European Commission for breach of EU competition rules; (ii) assess this policy in light of the criticisms that have been made by academics, practitioners and other stakeholders; and (iii) to the extent these criticisms...

This paper contains the conclusions from the work of the Economic Impact Group (EIG), a part of the CoPECL Network of Excellence funded by the EU to prepare a Draft Common Frame of Reference (DCFR). Part 1 revisits basic principles which are central to the work of the whole group. For one,...

External auditors, both in the private and in the public sector, are in the business of providing information to citizens and other stakeholders, to decide whether and in how far they can trust in what the audited bodies claim has been achieved. Audits of these auditors are governed by standards...

This paper aims at contributing to the further development of the governance structure of the internal energy market by evaluating the process of the development of network codes, that is, the technical rules governing access to – and functioning of the cross border electricity grid, against...

Ever since the creation of the General Court (“GC”), the effectiveness of judicial review in European Union (“EU”) competition cases has sparked intense scholarly debates. This paper seeks to further contribute to this discussion in three ways. First, it devotes some space to...

In this study, we analyze two new potential determinants for mitigating fraud committed by firms: institutional investors and political connection. The role of institutional investors in the effective monitoring of firm management has also been well established and we in turn observe that firms...

This paper is a comment on Ronald Gilson and Alan Schwarz “Constraints on Private Benefits of Control: Ex Ante Control Mechanisms versus Ex Post Transaction Review”. Together with that paper it will appear in the Journal of Institutional and Theoretical Economics 169 (1) in 2013, in a...