Social scientists have paid insufficient attention to the role of law in constituting the economic institutions of capitalism. Part of this neglect emanates from inadequate conceptions of the nature of law itself. Spontaneous conceptions of law and property rights that downplay the role of the...

In tort litigation, delayed settlement or impasse imposes high costs on the parties and society. Litigation institutions might influence social welfare by affecting the likelihood of out-of-court settlement and the potential injurers' investment in product safety. An appropriate design of...

Why do sovereign governments create judicial institutions and grant these institutions the power to rule their actions invalid? Once such a court is created, under what conditions is that court able to rule against these governments and get compliance with their rulings? Finally, how might the...