Die Ökonomische Analyse des Rechts umweht in Deutschland immer noch der Hauch des Exotischen. In diesem Beitrag soll begründet werden, warum das ökonomische Entscheidungsmodell ganz hervorragend dazu geeignet ist, die Verhaltensfolgen von Gesetzen zu prognostizieren. Deshalb kann die ÖAR...

In diesem Beitrag soll zunächst begründet werden, warum das ökonomische Entscheidungsmodell ganz hervorragend dazu geeignet ist, die Verhaltensfolgen von Gesetzen zu prognostizieren. Deshalb kann die ÖAR einen wesentlichen Beitrag zur Gesetzesfolgenanalyse leisten. Dann wird erläutert,...

We present a simple classroom principal-agent experiment that can effectively be used as a teaching device to introduce important concepts of organizational economics and contracting. In a first part, students take the role of a principal and design a contract that consists of a fixed payment...

The Coase theorem posits: If [1] property rights are perfect, [2] contracts are enforceable, [3] preferences are common knowledge, and [4] transaction costs are zero, then the initial alloca-tion of property rights only matters for distribution, not for efficiency. In this paper we claim that...

Rugby union only went professional in 1995, much later than other major team sports resulting in major changes in league structures. Different arrangements regarding revenue sharing and salary caps between the three main European rugby leagues provides an opportunity to test the impact of such...

In a full-information, zero transactions costs world, the degree of protection afforded to an entitlement does not affect the likelihood of efficient trade. In reality, imperfect information is often inevitable. Specifically, a party will usually have incomplete information about fairness norms...

This study explores mechanism design for networks of interpersonal relationships. Agents' social (i.e., altruistic or spiteful) preferences and private payoffs are all subject to asymmetric information; utility is (quasi-)linear, types are independent. I show that any network of at least three...

This paper considers the role of government in the case of externalities and, in particular, in the case of alcohol externalities. The purpose of the paper is to assess whether the current level of the alcohol excise can be justified on externality grounds. The paper assesses various mechanisms...

Abstract If communication involves some transactions cost to both sender and recipient, what policy ensures that correct messages -- those with positive social surplus –- get sent? Filters block messages that harm recipients but benefit senders by more than transactions costs. Taxes can block...

Abstract What did Coase teach about “The Social Cost Controversy” in the classroom? In 1972, an important year in the development of the economic approach to law, Coase taught “The Problem of Social Cost” and some important critiques of it, making his classroom a model of the market for...