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Should courts adjudicate to promote efficiency in the economy, or should courts be content to apply the law as they find it? The literature of law and economics has much to say about how to identify efficiency in the construction of the law, but little to say about whose business it is to...
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Education conveys a civic externality, a benefit to society over and above the benefit to the student in enhancing his future earning power. Students are taught not only to be productive but to be law abiding and loyal to their country. The civic externality is incorporated into an 'anarchy'...
Persistent link: https://www.econbiz.de/10005770410
For centuries, it has been recognized that democratic government is endangered by two unfortunate properties of majority-rule voting: the absence of an electoral equilibrium comparable to the general equilibrium in the economy, and the risk of expropriation of minorities by majorities. Much of...
Persistent link: https://www.econbiz.de/10005770643
A reasonable and fair interpretation of the mandate for equalization payments in Section 36(2) of the Canadian Constitution would differ from the present equalization formula in these respects: (a) transfers to the poorer provinces would be financed by transfers from the richer provinces rather...
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Citizen–candidate models postulate a politics without political parties. Any citizen may become a candidate for office. A winner is chosen from among the candidates by voting with ties broken by the flip of a coin. All voters have preferences over a set of policies. The winning candidate...
Persistent link: https://www.econbiz.de/10005809416
This paper is about a model of uncertainty in voting that allows for a schedule of people`s preferences for one party over another, that gives rise to a chance of casting a pivotal vote which is small but not, as often supposed, infinitesimal, that is not inconsistent with evidence about the...
Persistent link: https://www.econbiz.de/10008552199
1) Bargaining Unexplained, page 2 2) Bargaining Assumptions in the Study of Politics, Law and War, page 27 3) Bargaining and Voting, page 49
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