This well-documented book discusses the power and limitations of class actions with insights and analysis from a panel of distinguished scholars. It pays special attention to the introduction and the applicability of such a legal device in European civil law countries. The book offers a broad...

This thoroughly updated and revised edition of a popular and authoritative reference work introduces the reader to the major concepts and leading contributors in the field of law and economics. The Companion features accessible, informative and provocative entries on all the significant issues,...

In this paper, an agency model is proposed, which allows us not only to compare a unitary state with a federation but also to represent the various forms of federalism. The concept of subsidiarity is used to explain how responsibilities are assigned between the different institutional levels....

Buchanan's work on the methodology of economics includes many references to externalities. Buchanan has emphasized that a subjective conception of economics, and a focus put on exchange rather than on choice, has implications on an analysis of externalities. In this paper, we analyze the reverse...

The objective of this paper is to illustrate a potential problem in Samaritan's dilemmas: that Samaritans have a vested interest in encouraging parasitism. In effect, they gain from their altruism. To demonstrate this result, we show that the Nash equilibrium in a Samaritan's dilemma is a Pareto...

The thesis that judges could (voluntarily or not) promote efficiency through their decisions has largely been discussed since Posner put it forward in the early 1970s. There nonetheless remains a methodological aspect that has never (to our knowledge) been analyzed in relation to the...

Calabresi and Coase, two of the founding fathers of the “law and economics” movement are frequently, and paradoxically, put on the same footing for having put forward the same results. The purpose of this paper is to investigate this proximity by analyzing Calabresi's works published in the...

In spite of the clear objective assigned to the integration process in the 1950s, the institutional status of the European Union remains ambiguous and uneasy to define. The argument that we present in this article is that Europe has always hesitated between two forms of federalism. We use an...