Open source methods for creating software rely on developers who voluntarily reveal code in the expectation that other developers will reciprocate. Open source incentives are distinct from earlier uses of intellectual property, leading to different types of inefficiencies and different biases in...

This essay provides an overview of the central theoretical law and economics insights concerning antidiscrimination law across a variety of contexts including discrimination in labor markets, housing markets, consumer purchases, and policing. The different models of discrimination based on...

This paper shows that up-front payments can play a crucial role in providing efficient investment incentives when contracts are incomplete. They can eliminate the overinvestment effect identified by Rogerson [1984] and Shavell [1980] when courts use an expectation damage remedy. This method...

Im Rahmen der Verwirklichung des „more economic approach“ in der europäischen Wettbewerbspolitik hat die Europäische Kommission im Dezember 2005 umfangreiche Vorschläge zur Neugestaltung der Missbrauchsaufsicht vorgestellt. Im vorliegenden Beitrag werden diese Vorschläge in ihren...

The participation of interest groups in public policy making is unavoidable. Its unavoidable nature is only matched by the universal suspicion with which it has been seen by both policy makers and the public. Recently, however, there has been a growing literature that examines the participation...

Doping tests create a signal of whether the athlete has acted fraudulently. If the signal is costly, but perfect, then the doping enforcer and the athlete play an “inspection game," which has no equilibrium in pure strategies. This paper presents a modification of that game: The “Bayesian...

This project propose a strategy focused on the realization of some measurable, well definited objectives, and on a series of strategically options, supported by actions with clear dead-lines and with direct implications on the entire system of Romanian pe

Severance pay is a vital part of employment protection legislation (EPL). We investigate the incidence and level of severance pay for dismissed employees. Our theoretical model predicts that not only the law and its interpretation by labour courts but also the costs of a suit have an impact....

We analyze maximal cartel prices in infinitely-repeated oligopoly models under leniency where fines are linked to illegal gains, as often outlined in existing antitrust regulation, and detection probabilities depend on the degree of collusion. We introduce cartel culture that describes how...

Common Law, as practiced around the world, permits what it doesn't prohibit. Compared to Roman Law practice, which prohibits what it doesn't permit, the Common Law makes economic innovation easy. Easy economic innovation, in turn, promotes rapid economic adaptation -- broad technological...