Mechanism design provides a general paradigm for deriving legal rules and institutions that implement social objectives as equilibrium outcomes of interactions among strategic individuals with private information and endogenous transaction costs. This paper designs mechanisms that generalize...

This document is the introductory chapter to my privacy book published by Thomson-West. It offers a conceptual overview of issues and principles that have been adopted by the United States, as well as foreign countries

Using a formal political economy model with asymmetric information, we illustrate the conditions under which an environmental protection system based on extending liability to private financiers is welfare superior, inferior or equivalent to a system based on an incentive regulatory scheme...

Despite the adoption of the European Damages Directive and its transposition to national legal systems, a number of obstacles to antitrust damages actions in the EU still persist. Such obstacles stem from both substantial and procedural aspects. Information and data available to plaintiffs and...

The U.S. class action regime is supposed to obtain justice for victims and hold wrongdoers accountable. Instead, the system is filled with pathologies that combine to harm class members and allow defendants to minimize their responsibility. Victims are deprived of their property and due process...

In a hand-coded sample of M&A contracts from 2007-08, risk allocation provisions exhibit wide variation. Earn-outs are the least common means to allocate risk, indemnities are most common, followed by price adjustment clauses. Techniques for mitigating enforcement costs – escrows, holdbacks,...

Although the pure economic loss rule has been remarkably durable in the common law, it suffers from a theoretical deficit. The rule has not been properly framed within the broader context of Anglo-American political economy. Any theory must recognize that the rule fundamentally deals with...

Over 20 years, M&A contracts have more than doubled in size – from 35 to 88 single-spaced pages in this paper's font. They have also grown significantly in linguistic complexity – from post-graduate “grade 20” to post-doctoral “grade 30”. A substantial portion (lower bound ~20%) of...