Citizen-candidate models of representative government postulate that any citizen may become a candidate for office, that a winner is chosen from among the candidates by voting with ties broken by the flip of a coin, that all voters have preferences among a set of policies and that the...

Correctly or not, Ronald Coase is often credited with the doctrine that courts ought to adjudicate for efficiency, that "the value of production" should serve as the criterion for resolving disputes over the boundaries between property rights. The doctrine that courts ought to adjudicate for...

Citizen-candidate models of representative government postulate that any citizen may become a candidate for office, that a winner is chosen from among the candidates by voting with ties broken by the flip of a coin, that all voters have preferences among a set of policies and that the...

Personal goods, such as leisure and life expectancy, have no unique market price which is the same for everybody. When personal goods are arguments in the utility fucntion and when everybody's utility function is the same, the valuation of personal goods is higher for rich people than for poor...