There is extensive literature on whether courts or legislators produce efficient rules, but which of them produces rules efficiently? The law is subject to uncertainty ex ante; uncertainty makes the outcomes of trials difficult to predict and deters parties from settling disputes out of court. In...

SFB 649 Discussion Paper 2006-053 Governance: Who Controls Matters Bruno Deffains* Dominique Demougin** * University of Nancy 2 and CNRS, France ** School of Business and Economics, Humboldt-Universität zu Berlin, Germany This research was supported by the...