In a team production problem with unverifiable effort, budget breaking is essential to implementing efficient levels of effort. This short paper considers the use of a third party, who does not exert effort, in a setting with general contracts that can include message games, as a way to remove...

We re-examine whether the broad support for repeal of the estate tax is a result of citizen ignorance. We find that increasing information about the estate tax or politics in general has very different effects on Republicans and Democrats. While high and low-information Republicans support...

The paper addresses the issue of the impact of asymmetric information on risk aversion of litigant parties in a model à la Bebchuk. First we study the case where the plaintif is the informed party, and characterize the equilibrium with and without a pretrial negociation round. Then, we focuse...

L'objet de cette etude et d'une part de mettre en lumiere un large mouvement de "contractualisation" que connait notre droit des societes depuis quelques annees, d'autre part et surtout d'essayer d'en mesurer la portee sur le plan theorique.

Le negoce de la drogue est trop rentable pour qu'il n'y soit jamais renonce volontairement. Cette rentabilite est aussi une source de violence dans les pays producteurs et de delinquances dans les pays consommateurs. Par les sommes concernees et la brutalite des echanges, ce trafic est egalement...

Under contingent fees the attorney gets a share of the judgement; under conditional fees they get an upscale premium if the case is won, which is, however, unrelated to the adjudicated amount. We compare conditional and contingent fees in a framework where lawyers choose between a safe and a...

The paper has three main objectives. The first of these aims to clarify the term and the motivations behind such actions. The second objective is to circumscribe the identification of the legislative and institutional elements regarding whistle blowing, currently existing in Romania. The third...

We analyze a client's choice of contract in auctions where Dutch law firms compete for routine cases. The distinguishing feature here is that lawyers may submit bids with any fee arrangement they prefer: an hourly rate, a fixed fee or a mixed fee, which is a time-capped fixed fee plus an hourly...

There is extensive literature on whether courts or legislators produce efficient rules, but which of them produces rules efficiently? The law is subject to uncertainty ex ante; uncertainty makes the outcomes of trials difficult to predict and deters parties from settling disputes out of court. In...