Insolvency and debt recovery procedures are as crucial to a well-performing financial sector as credit provision itself. They are even more important in Africa, where attempts are underway to create fully-fledged financial markets. For the financial system to be credible, creditors must be...

To explore damage rules' deterrent effect, we use a public good experiment to tailor allowable punishment to rules used in actual civil litigation. The experimental treatments are analogous to: (1) damages limited to harm to an individual litigant, (2) damages limited to harm to a group...

This paper uses data on juvenile offenders released from correctional facilities in Florida to explore the effects of facility management type (private for-profit, private nonprofit, public state-operated, and public county-operated) on recidivism outcomes and costs. The data provide detailed...

This paper uses data on juvenile offenders released from correctional facilities in Florida to explore the effects of facility management type (private for-profit, private nonprofit, public state-operated, and public county-operated) on recidivism outcomes and costs. The data provide detailed...

To explore damage rules’ deterrent effect, we use a public good experiment to tailor allowable punishment to rules used in actual civil litigation. The experimental treatments are analogous to: (1) damages limited to harm to an individual litigant, (2) damages limited to harm to a group...

Six main characteristics of an economic order are discussed and empirically evaluated for the case of Slovenia. All of them pertain to the institutional setting ab urbe condita; they comprise the legal and jurisdictional situation, the role of private property, the institutionalised strive at...

Nicht nur Politik und Gesetzgebung, sondern auch Gerichte greifen in die Spielregeln der Wirtschaft ein und definieren damit die Rahmenbedingungen der Marktakteure mit. Durch ihre Entscheidungen können sie die Erwartungen und damit das Handeln der Akteure signifikant beeinflussen und einerseits...

Nicht nur Politik und Gesetzgebung, sondern auch Gerichte greifen in die Spielregeln der Wirtschaft ein und definieren damit die Rahmenbedingungen der Marktakteure mit. Durch ihre Entscheidungen können sie die Erwartungen und damit das Handeln der Akteure signifikant beeinflussen und einerseits...