In Fairness versus Welfare (2003), Louis Kaplow and Steven Shavell provide a manifesto for normative law and economics. Therein, they spell out the foundations for contemporary law and economics based on a Paretian consequentialist welfarism and a preferentialist account of welfare. We argue in...

Does competition affect moral behavior? This fundamental question has been debated among leading scholars for centuries, and more recently, it has been tested in experimental studies yielding a body of rather inconclusive empirical evidence. A potential source of ambivalent empirical results on...

In the aftermath of the Eurozone crisis, a battle of ideas emerged over whether ordoliberalism is part of the cause or the solution of economic problems in Europe. While German ordoliberals argued that their policy proposals were largely ignored before, during and after the crisis, critics saw...

Cyber-Security ist aus ökonomischer Sicht vor allem eine Frage fehlgeleiteter Anreize. Wenn Marktakteure nicht die vollen Kosten ihres informationstechnologischen Handelns tragen, führt dies zu ineffizienten Märkten. Ein Grund für die geringen Investitionen in Cyber-Security dürfte in...