This introduction, prepared for an edited volume, offers some observations on the importance — indeed, inescapability — of fairness concerns in law and economics. The relationship between fairness and the economic concept of efficiency is usually cast as an adversarial one. Rational choice...

Judicial partition works like a private taking, yet it has been under-theorized. Existing literature has focused on partition in kind and partition by sale, while ignoring intermediate partition approaches like partial partition that are prevalent in practice. Little attention has been given to...

The Tiebout hypothesis transformed the scholarly understanding of local government by casting citizens as consumers who vote with their feet for preferred communities within a metropolitan area. The idea that citizens shop for governmental bundles of services and amenities, just as they might...

Human well-being depends on assembling useful lumps and carving out useful slices — from “lumpy goods” like bridges and highways that are valuable only when complete, to resources and assets that become more useful when artfully subdivided. As increasing urbanization and environmental...

Price discrimination generates considerable angst. As merchants develop ever-more-powerful mechanisms for gathering and compiling information about consumers, the specter of fully personalized pricing seems to loom as an ominous threat. Yet a parallel phenomenon quietly coexists with all this...

Incumbent residents, tenants as well as homeowners, routinely oppose new housing development. Tenant opposition presents a frustrating puzzle for housing advocates, given robust evidence that new housing supply alleviates rather than causes increases in area rents. In this response to Professor...

Self-control and related concepts appear regularly in tax discussions, but often they are invoked hazily or blurred together with other aspects of choice over time. Despite the evident relevance of willpower to consumption patterns, wealth accumulation, and, ultimately, well-being, there is no...

In this symposium essay, I consider the role of resource segmentation — the natural or artificial division of resources into appropriable or contributable units — in eliciting and maintaining coordination in the absence of formal private property rights or top-down coercion. I argue that the...

Leading scholars in the field of law and economics contribute their original theoretical and empirical research to this major Handbook. Each chapter analyzes the basic architecture and important features of the institutions of property law from an economic point of view, while also providing an...