Bedingte Aktiengeschäfte sind solche, die nur bei Eintritt einer Bedingung wirksam werden, z. B. bei einer Übernahme oder der Wahl eines bestimmten Vorstandsvorsitzenden. Damit lassen sich Alternativen bewerten und Entscheidungen besser treffen.

The relative price of locally-produced milk and cheese in rural Paraguay is puzzling, apparently leaving opportunities for arbitrage. Despite requiring additional labor and inputs, the price of cheese per liter of milk is lower than the price of a liter of fluid milk. We propose a framework of...

Measurement quality is a fundamental factor in determining the cost of transactions within organizations and markets. A huge gulf separates the meaningfulness and precision of business metrics as currently achieved from the quality that has been routinely obtained for decades in research and in...

This article summarizes and draws connections among diverse streams of theoretical and empirical research on the economics of privacy. We focus on the economic value and consequences of protecting and disclosing personal information, and on consumers' understanding and decisions regarding the...

In "The Tragedy of the Commons," Garrett Hardin argues that those who can use a resource for free consume more of it than they would if they had to pay for it. Public resources eventually collapse because people overuse them. Hardin’s widely accepted argument seems correct as far as it goes,...

Economic theory has generally akcnowledged the role that institutions have in shaping economic space. The distinction however between physical and institutional descriptions of economic activity has not received adequate attention within the mainstream paradigm. In this paper I show how a proper...

This paper provides an overview of some settled regulatory principles regarding public utilities in the United States, United Kingdom, Europe, and Chile. The main finding is that regulatory law has a strong economic component, which is recognised by national courts. This feature is intertwined...

This Article challenges the dogma of U.S. patent law that direct infringement is a strict liability tort. Impermissibly practicing a patented invention does create liability even if the infringer did not intend to infringe or know about the patent. The consensus is that this is a form of strict...

Mechanism design provides a general paradigm for deriving legal rules and institutions that implement social objectives as equilibrium outcomes of interactions among strategic individuals with private information and endogenous transaction costs. This paper designs mechanisms that generalize...

This Essay calls for a repositioning of two distinct legal regimes - inalienability and contract - that govern the imposition of liability for medical malpractice upon doctors and institutions, respectively. The inalienable right to tort remedies places opportunistic patients - who file...