The literature has generally accepted that if full takings compensation is paid, owners will over-invest. Condemnors are often assumed to be either a social wealth maximizer or suffer from fiscal illusion. Costs and accuracy of assessing property value for takings compensation purposes are...

Common law and civil law property appear to be quite different, with the former emphasizing pieces of ownership called estates and the latter focusing on holistic ownership. And yet the two systems are remarkably similar in their broad outlines, for functional reasons. This paper offers a...

This timely book on takings compensation is the first ever to combine theoretical framework with empirical analysis. On the theory front, this book critically review the theories regarding the condemnor's takings decisions and the condemnees' investment decisions, and it advances a framework...

Flat (or fixed) attorney fees, despite their popularity, have been rarely studied by theorists and empiricists. This article builds informal theoretical models to describe the incentive schemes of rational attorneys and rational litigants. Rational attorneys who collect flat fees in advance...

Law and economics theorists have long advanced theories of litigation and settlement, including the canonical Priest and Klein (1984) model that predicts that, as settlement rates rise, plaintiff win rates approach 50%. Empiricists have tested this and other predictions from the theoretical...