Administrative regulations are an important tool of modern government, but their legitimacy is often questioned since they are adopted by the executive branch rather than the legislature. Judicial review of the legality of regulations is necessary but not sufficient as an accountability...

This is a survey of economic analysis of law, that is, of the emerging field under which the standard tools of microeconomics are employed to identify the effects of legal rules and their social desirability. Five basic subject areas are covered. The first is legal liability for harm. Here we...

We consider antitrust enforcement within the adversarial model used by the United States. We show that, under the adversarial system, the Antitrust Authority may try to prohibit mergers also in those cases in which litigation is ineØ cient. Even if market concentration and technological...