A substantial number of regulatory frameworks are commonly viewed by impartial observers as inordinately complex. Is there an explanation for this phenomenon? Employing a partial equilibrium model, this paper approaches the problem of complexity from a political-economy vantage point. It...

A substantial number of regulatory frameworks are commonly viewed by impartial observers as inordinately complex. Is there an explanation for this phenomenon? Employing a partial equilibrium model, this paper approaches the problem of complexity from a political-economy vantage point. It...

Applying a partial equilibrium model, this paper examines the role of the rate of increase in the level of professional knowledge and the role of the rate of replacement of "old" for "new" knowledge on the equilibrium concentration level in a market for professional services. The two main...

<p dir="rtl">רק בורסה אחת – הבורסה לניירות-ערך בתל-אביב בע"מ – הורשתה על-פי חוק לנהל עסקי בורסה בישראל. עם זאת קמו בישראל, כמו-גם במקומות רבים אחרים בעולם הרחב, זירות מסחר...</p>

Dr. Procaccia contends that courts should not allow subrogation by an employer's liability carrier against a defaulting employee because such actions would have serious socioeconomic consequences for some of the parties involved

A reform of any body of law necessitates adopting new legal ground rules designed to improve the current situation. A reform is judged significant when the new rules have a major impact on society's daily life. In this respect, the last major reform in corporation law did not take place in the...

The author is not convinced that giving top priority to the surety's subrogation claim on receivables due for bonded construction contracts is well grounded either in the theory of law or in the basic economics of the situation

It is not very often that the preparation of modern statutes, let alone codes, is entrusted to the sole guardianship of a single expert. We live in an era of committees, where collective wisdom reigns supreme. It was therefore with great awe, and indeed timidity, that I decided to accept, in the...