Die vorliegende Arbeit untersucht die Entwicklung im Rechtsdenken vom Formalismus zum "Ökonomismus", das heißt hier der wirtschaftlichen Betrachtungsweise (law & economics), anhand der Konzeptionen Jherings, Hayeks und Posners. Meine These dabei ist, dass ein innerer Zusammenhang zwischen...

The object of this contribution is to address the question of the ownership of the firm. Both law and economics shape representations of the world: law focuses on rules and justice; economics focuses on efficiency and allocation. They describe common situations and "objects'' such as firms and...

Consumer bankruptcy regulation in the United States as well as in many other countries allow consumers to petition for a partial debt discharge. Usually, a debt release is possible when the debtor behaves in the creditors’ best interest and after filing for bankruptcy signs over her entire...

This paper applies to the particular case of the art market a more general question: to what extent a rule of law may impede the functioning of a market? The economic analysis of art resale right focused on the price?become effects is challenged taking into account the art market?s organization...

This essay traces the question whether the key figures in the development of Law & Economics have been both lawyers and economists, or whether they rather were one or the other and the field emerged from close cooperation, partially in order to find out how to institutionally organize Law &...

There is a widespread consensus that Credit Rating Agencies have systematically inflated their ratings. In this paper, we analyze how the European regulator has addressed this issue. Specific attention is paid to the legislative framework introduced by the Reg. (Ec) no. 1060/2009, the Reg. (Eu)...

Poorly developed countries with weak institutions often face severe commitment problems. International investors are reluctant to invest in these countries because their property rights are insufficiently protected. We argue that in order to overcome the commitment problem countries may subject...

This paper first reviews some of the main contributions of the new institutional economics to the analysis of the process of competitive transformation of network industries. It shows that neoinstitutional analysis is complementary to the microeconomics of rational pricing, since it accounts for...

This paper uses Law & Economics as a tool of legal scholarship to analyse the concepts of good faith and contractual justice. Good faith is analysed as the exact opposite of opportunism. On opportunism there is a reasonably well-developed economic literature. Opportunism is present where, in a...

An authority delegates a monitoring task to an agent. It can only observe the number of detected offenders, but neither the monitoring intensity chosen by the agent nor the resulting level of misbehavior. We provide a necessary and sufficient condition for the implementability of monitoring...