Technological and organizational change in the automotive sector is pushing the outsourcing of production to limits which would probably be astonishing a few years ago. Whereas vehicle brand owners tend to specialize in design, research and marketing, their suppliers produce components and...

This paper analyzes the choice of the socially optimal titling system assuming rational individual choices about recording, assurance and registration decisions. It focuses on the enforcement of property rights on land under private titling and the two existing public titling systems, recording...

This article outlines a transaction cost theory of 'title insurance' and analyses the role it plays in countries with recording and registration of land titles. Title insurance indemnifies real estate right holders for losses caused by pre-existing title defects that are unknown when the policy...

Assuming that the degree of discretion granted to judges was the main distinguishing feature between common and civil law until the 19th century, we argue that constraining judicial discretion was instrumental in protecting freedom of contract and developing the market order in civil law. We...

This article outlines a transaction cost theory of 'title insurance' and analyses the role it plays in countries with recording and registration of land titles. Title insurance indemnifies real estate right holders for losses caused by pre-existing title defects that are unknown when the policy...

Titling systems are the institutions used to enforce property rights as rights in rem and reduce the cost of transacting on them. To be effective in non-local markets, they require a registry, which produces information on claims or rights, thus allowing the judge to verify them, establish their...