This paper seeks to quantify the impact of transaction costs on cross-country economic growth. Our evidence from a cross-country panel data regression analysis reveals a persistent and robust negative effect of increasing transaction costs on the path of economic growth. The growth-enhancing...

"The book is a short introduction to Comparative Law and Economics, a growing field in the interaction between Law, Economics and Comparative Political Science. It is guide to economists, lawyers and political scientists looking for a brief overview. It includes both strands of the traditional...

Although all legal systems use some form of prejudgment or post-judgment interest, there is no substantive law & economics literature providing for a comprehensive theory on the impact, functioning and assessment of the judicial interest rate. Mainstream legal scholarship has usually dealt with...

In this paper is analyzed the regulation of access to and activity of certain professions, namely of lawyers and physicians. A quick review of the economic theory of regulation of professions, namely (a) Why regulate, (b) How to regulate, and (c) What to regulate is presented. We suggest a set...

Under contingent fees the attorney gets a share of the judgment; under conditional fees the lawyer gets an upscale premium if the case is won which is, however, unrelated to the adjudicated amount. We compare conditional and contingent fees in a principal-agent framework where the lawyer chooses...