The purpose of this paper is to understand the incentive effects of existing compensation mechanisms in case of the bankruptcy of a financial institution. The paper uses insights of law and economics to predict the effects of compensation mechanisms on the incentives of depositors, financial...

This contribution addresses the importance of institutions for economic development and in particular the role of law for economic growth. It was written as the introduction to an edited volume that critically considers the so-called legal origins-thesis. This thesis claims that the economic...

This article compares Third Party Financing and Legal Expenses Insurance from an economic perspective. Such a comparison deserves attention for at least two reasons. First, LEI is not particularly widespread in Europe, as is often alleged. In most European countries in which the government does...

Current regulation and liability schemes ineffectively prevent and routinely under compensate natural resources damages. Compensation instruments, such as liability insurance, direct insurance, risk sharing agreement, environmental funds, and guarantees provided by liable parties or third...

In the last decade one can identify several accidents which can be classified as large scale accidents of a catastrophic dimension. After such a catastrophe the compensation of victims is of crucial importance and governments often intervene in this compensation. However, the organization of...

In this contribution we focus on the role of experts in the assessment of tort damages from an economic point of view. We distinguish two different aspects.First, we examine the role which economists might play in assessing damages in tort cases. This approach focuses on the insights that Law...

This article deals with an important, but yet unexplored issue, being to what extent the anti-monopoly law of China of 2008 can be applied in an extraterritorial manner. The paper reviews first the extraterritorial application of anti-trust law in the United States and in EU competition law and...

In this contribution Michael Faure, Marjan Peeters and Andri Wibisana discussed the question whether economic instruments, also referred to as marketable instruments, are also suited for developing countries. The classic arguments concerning the shortcomings of command and control instruments...

Legislation enabling courts to confiscate or remove illegal gain has grown rapidly across a wide range of countries within both civil and common law systems. We review these developments from an economic perspective and show that there are certain types of offence for which the removal of...