Regulatory reform efforts in a broad range of industries have resulted in increased importance of competitive forces as a means to allocate resources and improve economic efficiency. A number of indicators suggest that such forces have been stronger in the United States than in most other OECD...

Should managers be liable for ill-conceived business decisions? One answer is given by U.S. courts, which almost never hold managers liable for their mistakes. In this paper, we address the question in a theoretical model of delegated decision making. We find that courts should indeed be lenient...

The history of environmental justice litigation in federal, state, and administrative courts illustrates how difficult it is to remedy intersectional harm using a single legal tool. In the United States, there is no federal “environmental justice law” that litigants can wield in court. The...

Real estate occupancy, ownership, or investment is a heavily legal-intensive enterprise. Because everyone must live somewhere, this basic human need presents attractive opportunities for investment, as well as associated risks. Real estate inevitably constitutes an important topic impacting all...

We examine the relationship between product liability litigation and innovation by systematically combining data on product liability lawsuits with data on new product introductions in a panel dataset of leading medical device firms. We first document a decline in the propensity to introduce new...

This article discusses a decision both European Union Member States and states in the United States must make: whether to raise their compulsory automobile insurance minimum amounts. The authors review a case study from the United States, the Commonwealth of Pennsylvania, and conclude a proposed...

A behavioral divide cuts across the Atlantic. Despite the recent surge of behavioral analysis in European academia, a scrutiny of decisions by courts and regulatory agencies in the US and the EU reveals striking differences: While in the US rulings by courts and regulatory agencies progressively...

Today, evolving technologies have enabled scientific breakthroughs in innovative wind turbine designs, including taller wind turbine towers and longer blades. These breakthroughs will enable utility-scale wind turbines to reach higher into the atmosphere, access stronger winds, and produce...

This article describes and evaluates from a comparative perspective the approach to tort liability for pure economic loss adopted in the Restatement (Third) Torts: Liability for Economic Harm. The analysis highlights three fundamental issues: whether a claim in tort can arise concurrently with a...