This article analyzes how law enforcers (with particular emphasis on securities regulators) should allocate their limited resources among multiple targets, as well as how they are likely to allocate these resources. It modifies existing models in one significant way: it considers the effect of...

The post-9/11 intensified attention to the financing of terrorism has often focused on the interaction with the activities of charities. Their vulnerabilities have been most underlined by the Financial Action Task Force. The resultant qualitative prominence given to anti-terrorism financing...

CONCERN for the spread of HIV infection and with the growing social costs associated with the policy of heroin prohibition have recently led many to reconsider the policy. A large question facing advocates of decriminalisation or legalisation is to what extent the numbers of users would grow...

This paper uncovers the mechanism behind the relaxation of self-defense regulations with an empirical analysis followed by a game theoretical model. We obtained empirical evidence from examining the Stand Your Ground (SYG) law and subsequent changes in rates of planned and unplanned murder. We...

In a short period of time virtual currencies have gained significant traction and become an economic reality, with Bitcoin being the most dominant among over 500 virtual currencies. Bitcoin and other virtual currencies present a particularly difficult and unique jurisdictional challenge to...

Mandatory restrictions in employment law, designed to promote the welfare of workers, are debated fiercely. Proponents argue that they protect workers. Opponents believe that they spawn inefficiency and harm workers. Yet all agree that their welfare implications depend on their degree of...

This study investigates the efficiency of the suspicious transaction reporting (STR) activity to a Financial Intelligence Unit (FIU) as a means to deter money laundering (ML). Baseline and two-province theoretical models are used to frame the empirical analysis. The latter examines the...

On November 14, 2013, Professor Dervan was called to testify before the United States House of Representatives' Committee on the Judiciary Over-Criminalization Task Force. Available here is his written testimony. In his written testimony, Professor Dervan examines the phenomenon of...

It was Robert Nozick who, distinguishing the classical Liberal ‘night-watchman state' which protected citizens against violence and enforced contracts on their behalf, conjured instead the ‘ultraminimal state' in which the task of the state is confined to the monopolisation of violence...

Certain markets are illicit because part of the supply is coerced, but little is known about the optimal regulation of such markets. We model a prostitution market with voluntary and coerced prostitutes and ask what regulation can restore the benchmark outcome that would arise under...