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Rewards Versus Intellectual Property Rights

Shavell, Steven; Van Ypersele, Tanguy - 2001

This paper compares reward systems to intellectual property rights (patents and copyrights). Under a reward system, innovators are paid for innovations directly by the government (possibly on the basis of sales), and innovations pass immediately into the public domain. Thus, reward systems...

Persistent link: https://www.econbiz.de/10014124921

On Optimal Legal Change, Past Behavior, and Grandfathering

Shavell, Steven - 2007

When is it socially advantageous for legal rules to be changed in the light of altered circumstances? In answering this basic question here, a simple point is developed - that past compliance with legal rules tends to reduce the social advantages of legal change. The reasons are twofold:...

Persistent link: https://www.econbiz.de/10014053459

Mandatory Versus Voluntary Disclosure of Product Risks

Polinsky, A. Mitchell; Shavell, Steven - 2009

We analyze a model in which firms are able to acquire information about product risks and may or may not be required to disclose this information. We initially study the effect of disclosure rules assuming that firms are not liable for the harm caused by their products. Although mandatory...

Persistent link: https://www.econbiz.de/10014055098

The Economic Theory of Public Enforcement of Law

Polinsky, A. Mitchell; Shavell, Steven - 1999

This article surveys the theory of the public enforcement of law--the use of public agents (inspectors, tax auditors …, police prosecutors) to detect and to sanction violators of legal rules. We first present the basic elements of the theory … examine a variety of extensions of the central theory, concerning accidental harms, costs of imposing fines, errors, general …

Persistent link: https://www.econbiz.de/10014055300

Public Enforcement of Law

Polinsky, A. Mitchell; Shavell, Steven - 2009

sanction violators of legal rules. We first discuss the basic elements of the theory: the probability of imposition of …

Persistent link: https://www.econbiz.de/10014058396

Economic Analysis of Law

Polinsky, A. Mitchell; Shavell, Steven - 2007

This entry for the forthcoming The New Palgrave Dictionary of Economics (Second Edition) surveys the economic analysis of five primary fields of law: property law; liability for accidents; contract law; litigation; and public enforcement and criminal law. It also briefly considers some...

Persistent link: https://www.econbiz.de/10014060845

The Theory of Public Enforcement of Law

Polinsky, A. Mitchell; Shavell, Steven - 2006

This chapter of the forthcoming Handbook of Law and Economics surveys the theory of the public enforcement of law - the … of the central theory, including: activity level; errors; the costs of imposing fines; general enforcement; marginal …

Persistent link: https://www.econbiz.de/10014061267

Liability for Accidents

Shavell, Steven - 2005

This is a survey of legal liability for accidents. Three general aspects of accident liability are addressed. The first is the effect of liability on incentives, both whether to engage in activities (for instance, whether to drive) and how much care to exercise (at what speed to travel) to...

Persistent link: https://www.econbiz.de/10014061304

On the Superiority of Corrective Taxes to Quantity Regulation

Kaplow, Louis; Shavell, Steven - 1998

The traditional view of economists has been that corrective taxes are superior to direct regulation of harmful externalities when the state's information about control costs is incomplete. In recent years, however, many economists seem to have adopted the view that either corrective taxes or...

Persistent link: https://www.econbiz.de/10014070183

Chapter 6 The Theory of Public Enforcement of Law

Polinsky, A. Mitchell; Shavell, Steven - In: Handbook of law and economics : volume 1, (pp. 403-454). 2007

This chapter surveys the theory of the public enforcement of law—the use of governmental agents (regulators, inspectors … apprehending violators? A variety of extensions of the central theory are then examined, including: activity level; errors; the …

Persistent link: https://www.econbiz.de/10014023510