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It is no longer a secret that a lawyer arguing a case before the Supreme Court is more likely to lose if he is asked more questions than his opponent during oral arguments. This paper rigorously tests that hypothesis and the related hypothesis that a lawyer is more likely to lose if he is asked...
Persistent link: https://www.econbiz.de/10009321312
We believe that at a deeper level the independent judiciary is not only consistent with, but essential to, the interest-group theory of government. Part I of this paper explains our theory of the independent judiciary. Part II discusses several implications of the theory, relating to...
Persistent link: https://www.econbiz.de/10005714635
The use of precedents to create rules of legal obligation has, to our knowledge, received little theoretical or empirical analysis. This paper presents and tests empirically an economic approach to legal precedent that is derived mainly from the analysis of capital formation and investment. We...
Persistent link: https://www.econbiz.de/10005828947
An important question in the economic study of enforcement is the appropriate, and the actual, division of responsibilities between public and private enforcers. This question has been brought into sharp focus recently by an article in which Gary Becker and George Stigler advocate the...
Persistent link: https://www.econbiz.de/10005830925
This paper uses economic analysis to illuminate a variety of legal rules relating to rescue, a term we use broadly to describe any attempt to save a person or property from some peril. We first develop a model of a competitive market in rescues, as a benchmark for judging whether the legal rules...
Persistent link: https://www.econbiz.de/10005778158
This paper examines the question whether adjudication can be viewed as a private good, i.e., one whose optimal level will be generated in a free market. Part I focuses on private courts, noting their limitations as institutions for dispute resolution and rule creation but also stressing the...
Persistent link: https://www.econbiz.de/10005778776
This paper develops an economic model of presidential pardons (including commutations and other clemency grants). The model assumes that the number of pardons depends both on the expected benefits and costs of applying for a pardon and the president's calculation of his net political benefits...
Persistent link: https://www.econbiz.de/10005779098
Persistent link: https://www.econbiz.de/10005485717
A classic example of external benefits is the rescue of the person or property of strangers in high transaction cost settings. To illustrate, A sees a flowerpot about to fall on B's (a stranger's) head; if he shouts, B will be saved. A thus has in his power to confer a considerable benefit on B....
Persistent link: https://www.econbiz.de/10005575683
This paper provides a methodology to analyze the potential benefits and costs of airline mergers. The methodology is applied to the recent merger between North Central Airlines and Southern Airways -- the superior product created by a merger which increases the amount of single-carrier versus...
Persistent link: https://www.econbiz.de/10005551136