Traditionally in the division of labor between the European level and the Member States it was, roughly, the European legislature that set the norms and the Member States that took care of enforcing these norms. In various policy areas, an implementation deficit has been observed, which is said...

We distinguish among three types of actions that can be taken to alleviate the consequences of natural disasters: precautionary efforts (made ex ante), relief efforts (made in the immediate aftermath of a disaster), and recovery efforts (made ex post). We argue that recognizing this distinction...

This chapter focuses on one particular aspect of adaptation to climate change, being the fact that climate change can create large losses. The paper addresses the question how compensation for those losses can be generated. After sketching a few general principles the paper addresses the pros...

Under the influence of climate-related extremes, the world is exposed to more and more catastrophe risks. Regulation by insurance may help realize the goal of mitigating catastrophe risk and the following losses. I explore five regulatory tools — risk-based pricing, contract design, loss...

This paper will be published as a chapter of the forthcoming volume ‘Directors & Officers Liability' edited by Simon F. Deakin, Helmut Koziol, and Olaf Riss. It explores D&O liability from a law and economics perspective with a view to identify trade-offs of different legal settings. The paper...

We study a large-scale land titling reform implemented as a randomized control-trial to isolate its causal effects on litigation. The reform consisted of demarcating land parcels, registering existing customary rights, and granting additional legal protection to rightholders. We find that, ten...

Many of today’s products and services fall into the category of products and services that are, as such, legal but still unhealthy. Think of smoking as an example. This paper deals with the question of which mix of legal instruments should ideally be used in the light of such products and...