There is extensive literature on whether courts or legislators produce efficient rules, but which of them produces rules efficiently? The law is subject touncertainty ex ante; uncertainty makes the outcomes of trials difficult to predict and deters parties from settling disputes out of court. In...

This paper develops a general model of anticommons fragmentation in property. Using several related examples, we consider the equilibria obtained under different scenarios. The various illustrations are later utilized to develop a model of fragmented property. The model reveals that the private...

A reflex of any modern Nation’s wishing to express themselves as a stroke of its socio-economic development is the institutionalization of some legal rules which orders social relationships. This ordination must provide the strength of the social security harmony, the safety that produces the...

This publication addresses theoretical and practical aspects of rural life in Russia. The authors developed approaches to enhance rural evelopment in the framework of regional managerial strategies. Operation of the institutions of local development in Arhkangelsk oblast and the Republic of...

Present work contains municipal reform implmentation results for 2007. The authors analyzed modifications in the federal legislation regarding local selfgovernance, regional legislation which regulates issues relatyed to newly created settlements in transition period. The authors analyzed...

We use NOMINATE (Nominal Three Step Estimation) (Poole and Rosenthal, 1983, 1997) to estimate ideal points for all Supreme Court Justices in Brazil from 2002 to 2012. Based on these estimated preferences we identify the nature of the two main dimensions along which disagreements tend to occur in...

The Constitution is the fundamental law, which includes all general rules and principles that are the essence of the rule of law. It organises and establishes the functions of the national authorities, and it enshrines the fundamental rights and freedoms, as well as their warranties. Due to its...

Strong financial markets are widely thought to propel economic development, with many in finance seeing legal tradition as fundamental to protecting investors sufficiently for finance to flourish. Kenneth Dam finds that the legal tradition view inaccurately portrays how legal systems work, how...

What are the key determinants of financial development and growth? A large literature debates the relative importance of countries' legal and political environment. In this paper, I present evidence from ancient Rome, where an early form of shareholder company, the societas publicanorum,...

The 1960s ushered in a new era in US demographic history characterized by significantly lower fertility rates and smaller family sizes. What catalyzed these changes remains a matter of considerable debate. This paper exploits idiosyncratic variation in the language of "Comstock" statutes,...