Munkaszolgáltatások adásvételeként értelmezendő-e a munkaviszony vagy dolgozók bérléseként? A közgazdaság-tudomány álláspontja következetlen: jellemzően dolgozóbérlésnek deklarálja, ugyanakkor ideálisan munkaszolgáltatások adásvételeként gondolja el. Az írás...

Nach dem Grundsatz «pacta sunt servanda» ermöglichen Verträge den Beteiligten das Vertrauen in den Bestand eines Leistungsversprechens. Die Zivilgerichte können jedoch in der Praxis pflichtgemäßes und vertragswidriges Verhalten nicht fehlerfrei unterscheiden. Unter Zuhilfenahme des...

Judges become ambitious decision makers when they face appellate review. This paper applies a contract theoretic perspective to the behavior of self-interested trial judges in a two-level court system and analyzes the consequences for contracting in “the shadow of” the court. Confronted with...

In a model where biased judges can distort contract enforcement, we uncover positive feedback effects between the use of innovative contracts and legal evolution that improve verifiability and contracting over time. We find, however, that the cost of judicial bias also grows over time because...

Adopting a simplistic view of Coase (1960), most economic analyses of property rights disregard both the key advantage that legal property rights (that is, in rem rights) provide to rightholders in terms of enhanced enforcement, and the difficulties they pose to acquirers in terms of information...

In a model where biased judges can distort contract enforcement, we uncover positive feedback effects between the use of innovative contracts and legal evolution that improve verifiability and contracting over time. We find, however, that the cost of judicial bias also grows over time because...

Using the reaction of hydrogen with oxygen to water in order to produce electricity and heat, promises a high electrical efficiency even in small devices which can be installed close to the consumer. This approach seems to be an impressive idea to contribute to a viable future energy supply...

The recent Italian Financial Stability Law introduced significant changes in the regulation of households’ over-indebtedness crisis, completing a wide reform realized in 2012 relating to corporate crisis, with the adoption of pre-insolvency instruments

This study aims to achieve a short analysis of cross-border cooperation agreements between territorial-administrative units in the border areas of Romania and similar structures in neighboring states. The article investigates the form they takes these agreements – contract or treaty –, the...

This paper examines markets, firms, and the law as alternative institutional arrangements for organizing transactions that involve transaction-specific investments and uncertain performance. The analysis is the logical extension of Coase’s seminal analysis of the market-firm boundary on one...