Bruce Johnsen

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Using property-rights tools, this paper develops a theory of the transition from despotic to rule-of-law regimes, relying on the notion that rulers and subjects are interested in maximizing wealth. Keeping subjects in check enhances despots’ internal security, but at the cost of lower output, and of less wealth for the despots. Enhanced wealth is especially(More)
Because the Japanese judiciary exclusively hires young and unproven jurists tor its lower courts, it maintains elaborate career incentive structures. We use personnel data on 276 judges (every judge hired between 1961 and 1965) to explore the determinants of career success and test whether politicians manipulate those incentives. We find strong evidence(More)
This paper presents a general rent-seeking model in which participants decide on entry before choosing their levels of e¤orts. The conventional wisdom in the rent-seeking literature suggests that the rent dissipation increases with the number of potential participants and with their productivity of e¤ort. In this paper, we show that this result of the(More)
A model of addiction in which individuals are forward looking implies that as the availability of addiction treatment options grows, individuals will consume more of an addictive good. We test this implication using cross-state variation in the adoption of mental health parity mandates that include substance abuse treatments. We examine the effects of these(More)
This chapter analyzes the regulatory implications of irrational exuberance and anxiety in securities markets. U.S. federal securities laws mandate the disclosure of certain information, but regulate only the cognitive form and content of that information. An important and unstudied question is how to regulate securities markets where some investors respond(More)
This inquiry is not limited to the scope of property rights contained in federal or state statutory or common law. An integral part of the inquiry into the proper scope of intellectual property laws is how related contracts affect the usecreation tradeoff. Contracts based on use of intellectual property rights are an indispensable complement to intellectual(More)
1 Physikalisch-Meteorologisches Observatorium Davos / World Radiation Center, Dorfstrasse 30, 7278 Davos Dorf, Switzerland 2 Aristotle University of Thessaloniki, Laboratory of Atmospheric Physics, Campus Box 149, 541 24 Thessaloniki, Greece 3 Innsbruck Medical University, Division for Biomedical Physics, Müllerstr. 44, 6020 Innsbruck, Austria 4 National(More)
Ron Harris1 The English East India Company (EIC) and the Dutch East India Company (VOC) were incorporated by State charters two years apart, in 1600 and 1602 respectively. They were involved in similar business activities, oceanic trade in high value goods between Europe and Asia, via the Cape Route. They were both organized as joint stock corporations,(More)
The paper explores how merchants enabled long-distance trade in the Mediterranean before and after the Black Death. The Black Death disrupted the flows of information about commercial prospects upon which merchants depended for deciding when, where, and in which commodities to trade. The disruption of information impinged how merchants contracted the(More)