This Chapter examines the existing structure of corporate criminal liability, providing empirical evidence on the types of firms convicted and the magnitude and nature of the sanctions imposed. It then examines whether existing U.S. enforcement practice is consistent with optimal corporate...

In this article, we show experimentally that individuals can adapt their decision making to social environments, like markets, and respond strategically to biases, such as regret aversion. We find they can employ herding as a behaviorally rational strategy to improve their expected outcomes and...

Tort liability generally is not justified by the presence of risk-producing activities alone. It tends to be justified by the combination of risk-producing activities and information costs that impede alternative solutions, such as private contracting or ex ante regulation. The observation that...