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Prostitution in the United States in the early 19th century was an almost entirely individual, ad hoc, unorganized activity. In the 1910s, the Progressive Movement arrived, bringing with it enforcement of harsh criminal penalties of prostitution for the first time. Within a couple of decades, a...
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The importance of institutions, including legal institutions, to economic development is widely accepted. But to accept the importance of legal institutions does not by itself provide guidance to policymakers in the developing world. One influential body of economic analysis emphasizes the...
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Part I. Property rules and liability rules -- Property rules, liability rules and inalienability : one view of the … cathedral / Guido Calabresi and A. Douglas Melamed -- Property rights and liability rules : the ex ante view of the cathedral … / Lucian Arye Bebchuk -- Modular liability rules / Ronen Avraham -- Toward an asymmetric coase theorem / Barbara Luppi and …
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Puts as well as calls -- Single-chooser rules -- Dual-chooser rules -- Higher-order liability rules -- Correlated … shadow of different regimes / Ian Ayres and Eric Talley -- Testing the bargaining model -- The property/liability rule debate …
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