Two books on law and development and the law-and-finance literature have produced a major opening for the field of international statistical comparisons of legal systems. This review provides some background from microstructure to help the understanding of the effects the statistical comparisons...

The accepted economic function of bankruptcy law is that it resolves collective action problems between self-interested creditors. This article argues that this collective-action-resolving function is only one of a multitude of expressions of an overarching economic motivation of bankruptcy law....

Two books on law and development and the law-and-finance literature have produced a major opening for the field of international statistical comparisons of legal systems. This review provides some background from microstructure to help the understanding of the effects the statistical comparisons...

The classic corporate law case Meinhard v. Salmon is a gem of rhetoric and morality. This article argues that under its polished surface lies one more Cardozo opinion with superb economic ramifications. The broad fiduciary obligations that Cardozo champions have numerous benefits: (i) They allow...

This article examines the reliance element of the securities fraud action. An analysis comparing the economic function of common law deceit to that of securities fraud is used to appraise the current law and to propose refinements. This article argues that neither participants in securities...