[Pre-print version] The subject is not remote, philosophical nor esoteric; no one should venture into it with the feeling that it is a mystery that only the privileged can penetrate. Moreover, no one should surrender to a subject of such a great practical importance as this. The subject under...

The legal realist Robert Lee Hale offered a definition of freedom as a zero-sum game: each volitional freedom implies some degree of coercion over other people's freedom and at the same time one's liberty is subject to some degree of control and coercion by others. The objective of our work is...

The main contribution of Coase1 is having proven that no institution is a free lunch (among others, Pagano, 2012). it means that every institution (e.g. the market and the firm) has non-null costs of functioning, i.e. transaction costs. in a world with positive transaction costs, the...