Economic analysis of law is a powerful analytical methodology. However, as a purely consequentialist approach, which determines the desirability of acts and rules solely by assessing the goodness of their outcomes, standard cost-benefit analysis (CBA) is normatively objectionable. Thus, for...

We extend the analysis of optimal self-reporting schemes to situations like corruption where two individuals are required for a criminal act. This leads to strategic interactions in the self-reporting stage, because the fine can be made dependent on whether the accomplice self-reports or not....

We present a simple model to analyze law enforcement problems in transition economies. Law enforcement implies coordination problems and multiplicity of equilibria due to a law abidance and a fiscal externality. We analyze two institutional mechanisms for solving the coordination problem. A...

We consider a model of optimal law enforcement where sanctions can be reduced for self-reporting individuals. The literature is extended in two directions: First, we distinguish between two self-reporting stages: a first one before the case is investigated, and a second one where the criminal is...

Large companies have increasingly, and controversially, turned from multidistrict litigation to bankruptcy to resolve their mass tort liability. While corporate attraction to bankruptcy’s unique features partially explains this evolution, this Article reveals an underexamined driver of this...

In the US, law and economics is so well established that many law schools have given up on a separate law and economics course. It seems obvious that economic theory matters for the interpretation and the evolution of the law. More recently, the empirical law movement has been gaining momentum...

Originally, behavioral law and economics was an exercise in exploring the implications of key findings from behavioral economics (and psychology) for the analysis and reform of legal institutions. Yet as the new discipline matures, it increasingly replaces foreign evidence by fresh evidence,...

The paper reviews (in Czech) the main qualitative tools applied by (micro)economic analysis and surveys the main literature on the topic. Economics is often being criticised by its opponents for the use of unrealistic assumptions. On the contrary, my claim is that if economics has anything to...

What role does defensive conduct play in a utilitarian theory of tort law? Why are rational (as opposed to instinctive) defensive actions permitted by tort doctrine? To address these questions I will build on the property and liability rules framework. I argue that defensive conduct plays an...

This paper examines the law and economics of third-party financed litigation. I explore the conditions under which a system of third-party financiers and litigators can enhance social welfare, and the conditions under which it is likely to reduce social welfare. Among the applications I consider...