The paper deals with impulsive consumption and highlights the roles that cognitive and motivational aspects of reflexive thought (namely self-control and self-image motives, respectively) play in intertemporal decisions. While self-control inhibits individuals from consuming impulsively,...

Transnational regulatory networks play important roles in multi-level regulatory regimes, as e.g, the European Union. In this paper we analyze the role of regulatory networks from the perspective of the economic theory of legal federalism. Often sophisticated intermediate institutional solutions...

Tests und Vergleiche von Gütern und Dienstleistungen sind mittlerweile weit verbreitet. Würde der einzelne Verbraucher den Vergleich selbst durchführen, wäre dies mit hohen Kosten verbunden, institutionelle Tests bieten demgegenüber eine gute Informationsmöglichkeit. Die...

Non-compete agreements (also known as Covenants Not to Compete or CNCs) are frequently used by many businesses in an attempt to maintain their competitive advantage by safeguarding their human capital and the associated business secrets. Although the choice of whether to include CNCs in...

This study investigates the optimal nature of law making under uncertainty. I focus on a case in which a harmful activity will be subjected to some regulatory measures (a standard, exposure to liability, or a corrective tax). The benefits and costs of precaution are ex-ante uncertain, and this...

This paper investigates whether the industrial relations climate inIndian states has affected the pattern of manufacturing growthin the period 1958-92. We show that states which ammendedthe Industrial Disputes Act in a pro-worker direction experiencedlowered output, employment, investment and...

This paper integrates the problem of designing corporate bank-ruptcy rules into a theory of optimal debt structure. We show that, in an incomplete-contracts framework with imperfect renegotiation, having multiple creditors increases a firms debt capacity while increasing its incentives to...

Most contracts that individuals enter into are not written from scratch; rather, they depend upon forms and terms that have been successful in the past. In this paper, we study the structure of form construction contracts published by the American Institute of Architects (AIA). We show that...

Land in India is problematic largely because of archaic and perverse provisions in the practice and the law. The new Land Acquisition Amendment Bill does go some way to correct the anti-democratic and imperial provisions of the old 1894 Act. Other regulatory restraints stand in the way of fair...