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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...
Persistent link: https://www.econbiz.de/10013078335
In Victoria and New South Wales, young learner drivers have been required to have 120 hours supervised driving before taking their provisional license test since July 2007. Queenslanders under 25 have to show that they have completed 100 supervised hours. Most other states require at least 50...
Persistent link: https://www.econbiz.de/10014176740
In this text, I question the current ambiguity and hypocrisy as to member state centered regulations for gambling services. It is time to move beyond the state borders and implement a transnational EU gambling regulation, made adequate and effective with the help by strong national gambling...
Persistent link: https://www.econbiz.de/10014185852
The conventional wisdom is that this country’s privately owned critical infrastructure — banks, telecommunications networks, the power grid, and so on — is vulnerable to catastrophic cyber-attacks. The existing academic literature does not adequately grapple with this problem, however,...
Persistent link: https://www.econbiz.de/10014041124
The use of asymmetric discount rates in the economic analysis of law leads to the conclusion that resources should be time-divided between competing activities. In the context of nuisance remedies, this implies that the courts should consider issuing a suspended injunction in cases where...
Persistent link: https://www.econbiz.de/10014052624
Efforts to avoid punishment are socially wasteful. Not only do they limit the deterrent effect of punishment but they may actually lead to the paradoxical result that more severe punishment for crime induces more crime. The law has therefore constantly attempted to deter avoidance efforts and...
Persistent link: https://www.econbiz.de/10014052825
Adam Smith warned that the officers of corporations were likely to be unfaithful agents that would harm shareholders. Modern anti-regulatory economists sought to remedy this flaw at capitalism’s core by supercharging executive compensation. However, modern compensation systems further...
Persistent link: https://www.econbiz.de/10014196102
In 2000-2001 the California energy crisis cost billions of dollars and the blackouts endangered lives. The causes of the crisis were contested along partisan lines. Republicans (and neo-classical economists) argued that “a perfect storm” of increased demand and reduced supply triggered the...
Persistent link: https://www.econbiz.de/10014199069
The 'nanny state' has expanded in recent years. Politicians and bureaucrats have increasingly sought to restrict what individuals are permitted to do with their own bodies on their own property. Prohibitions is a corrective to the prevailing support for such authoritarianism. This collection...
Persistent link: https://www.econbiz.de/10014216017
In this article, I will examine the doctrine of ignorantia legis, or presumed knowledge of the law, as it functions in the current milieu of American criminal justice, the age of the regulatory crime. Much ink has been spilled over this doctrine, and many pieces argue against ignorantia legis,...
Persistent link: https://www.econbiz.de/10014136957