covered. The first is legal liability for harm. Here we discuss liability rules as incentives to reduce risk, issues of risk …-bearing and insurance, and the costs of the liability system. Second, we consider property law, where we address the nature and …. Fourth, we treat the subject of civil litigation, that is, the bringing of lawsuits, and their settlement or disposition at …

This is a survey of the economic principles that underlie antitrust law and how those principles relate to competition … policy. We address four core subject areas: market power, collusion, mergers between competitors, and monopolization. In each … central features of antitrust policy. Our objective is to foster the improvement of legal regimes and also to identify topics …

, conventional formulations tend to impose liability in cases with lower deterrence benefits and greater chilling costs than those … reconciled with principles of oligopoly theory. This article (1) presents a fundamental reconceptualization of our understanding … of horizontal agreements, (2) develops a systematic analysis of price-fixing policy that focuses on its deterrence …

optimal strength of the burden of proof, as well as optimal enforcement effort and sanctions, involves trading off deterrence … sanctions in controlling harmful activity. Models are examined in which the prospect of sanctions affects not only harmful acts … but also benign ones, on account of the prospect of mistaken application of sanctions. Accordingly, determination of the …