In a criminal trial, the prosecution needs to prove its case beyond a reasonable doubt. When an individual is accused of wrongdoing outside the criminal process, as when teachers and politicians are charged with sexual harassment and employees are charged with financial improprieties, people...

A regulator, seeking to maximize net benefits, must choose between rules and standards and then set a level of care. The regulated agents have private information about their compliance costs. Rules are set ex ante, so agents know the required level of care. Standards are established after...

Survey respondents assessed the risks of terrorist attacks and their consequences and were asked how their assessments changed from before September 11 to the present. This paper analyzes those current and recollected risk assessments. More than half of the respondents exhibited what we label...