This Article is a first-of-its-kind application of public choice theory to recently developing theories of virtue jurisprudence. Particularly, this Article focuses on not-yet-developed theories of aretaic (or virtue-centered) legislation. This Article speculates what the contours of such...

Uniformity, the use of a common accounting measurement, is an essential feature of financial reporting, yet its desirability has long been debated. We study a model in which firms decide whether to adopt either their local accounting methods or a common method, followed by an investor allocating...

Identification forms a key part of all but the least sophisticated economic and political transactions. More complex or significant transactions demand more formal identification of the parties involved. In this paper we develop an institutional as well as a public choice theory of identity. We...

We still know very little about the incentives of police, often due to data constraints and the underlying policy environment. Using geocoded crime data and a novel source of within-city spatial and temporal variation in punishment severity, I am able to shed light on enforcement behavior. I...

I develop a model of public sector contracting based on the multitask framework by Holmström and Milgrom (1991). In this model, an agent can put effort into increasing the quality of a service or reducing costs. Being residual claimants, private owners have stronger incentives to cut costs than...

This article analyses how the presence of a dominant group of voters within the electorate affects voter turnout. Theoretically, we argue that both the absolute size and the relative power of a dominant group influence voters' decision-making process. The former effect derives from increased...

We analyze the decision rules governing public employment policy, capital allocation between private and public sector, and the size of the public sector in a two-type and two-sector optimal nonlinear income-tax model with endogenous wages. The government can reduce wage inequality in the...

This paper discusses the strategic building blocks of pension reform. The early sections set out the simple economics of pensions and discuss a series of myths which have proved remarkably persistent. Subsequent sections draw together the conclusions for policy design from earlier theoretical...

It is a well-known fact that reforms necessary to enhance competition and make the economy more attractive play a major role in the Government activity in Europe. Considering the Italian state of affairs, this paper focuses on the inefficiency of public producers in the light of certain market...

The role of government in the process of globalization has been discussed extensively in recent years. The two “rivaling” theories that best reflect conventional wisdom are the “efficiency” and the “compensation” hypothesis. With regard to the compensation hypothesis, I challenge...