A substantial number of regulatory frameworks are commonly viewed by impartial observers as inordinately complex. Is there an explanation for this phenomenon? Employing a partial equilibrium model, this paper approaches the problem of complexity from a political-economy vantage point. It...

Auf der Grundlage versicherungsmathematischer Berechnungen wird ein Beitragsmodell für die gesetzliche Rentenversicherung vorgestellt. Es wird untersucht,ob ein grundlegend abweichender Ansatz vom derzeitigen Beitragssystem die Gleichbehandlung in der Altersversorgung stärken sowie Versicherte...

In this article I take up the relationship between economics and law in the hundred-year period preceding the establishing of economics as a separate discipline. Rather than providing a review of historical milestones, I concentrate on some observations that illustrate the relationship between...

This paper deals with the analysis of the doctrinal foundations of Law and Development (D&D) regarding to the need to support future research and applications of the subject in national and international context. The characterization of the scientific autonomy of the D&D was intended through the...

We conducted an experiment with 182 inmates from a maximum-security prison to analyze the impact of criminal identity on dishonest behavior. We randomly primed half of the prisoners to increase the mental saliency of their criminal identity, while treating the others as the control group. The...

Relying on the specific example of ultimatum bargaining experiments this paper explores the possible role of empirical knowledge of behavioural norm(ative) facts" within the search for an inter-personal (W)RE - (Wide) Reflective Equilibrium on normative issues. Assuming that pro-social behaviour...

Facilitadores Judiciales is a programme run by the Organization of the American States and the Nicaraguan judiciary. The main objective of the programme is to improve access to justice for the disadvantaged people in Nicaragua. From 1998 to 2010 the programme was implemented in almost all rural...

It has been argued that competing banks make inefficiently frequent use of collateralization in situations where they are better able to evaluate a project's risk than entrepreneurs. We study the bank's choice between screening and collateralization in a model where banks do not have this...

The effects of bank competition and institutions on credit markets are usually studied separately although both factors are interdependent. We study the effect of bank competition on the choice of contracts (screening versus collateralized credit contract) and explicitly capture the impact of...

This paper explores potential endowment effects of contractual default rules. For this purpose, we analyze the Hadley liability default clause in a model of bilateral bargaining of lotteries against safe options. The liability default clause determines the right for the safe payoff option. We...