• Publications
  • Influence
The New Palgrave Dictionary of Economics
This article surveys the economic analysis of public enforcement of law – the use of public agents (inspectors, tax auditors, police, prosecutors) to detect and to sanction violators of legal rules.
Economic Analysis of Law
This entry for the forthcoming The New Palgrave Dictionary of Economics (Second Edition) surveys the economic analysis of five primary fields of law: property law; liability for accidents; contract
The Economic Theory of Public Enforcement of Law
This article surveys the theory of the public enforcement of law -- the use of public agents (inspectors, tax auditors, police, prosecutors) to detect and to sanction violators of legal rules. We
The Optimal Payment of Unemployment Insurance Benefits over Time
The primary purpose of unemployment insurance (U.I.) is no doubt to insure individuals against loss of wage income. However, U.I. is commonly believed to adversely affect job search behavior and to
On Moral Hazard and Insurance
TLDR
This paper focuses on the part of moral hazard when care is not observed by the insurer and the role of the insurer in this situation.
Risk Sharing and Incentives in the Principal and Agent Relationship
This article studies arrangements concerning the payment of a fee by a principal to his agent. For such an arrangement, or fee schedule, to be Pareto optimal, it must implicitly serve to allocate the
A MODEL OF THE OPTIMAL USE OF LIABILITY AND SAFETY REGULATION
A model of the occurrence of accidents is used to examine liability and safety regulation as means of controlling risks. According to the model, regulation does not result in the appropriate
Acquisition and Disclosure of Information Prior to Sale
This article analyzes incentives to acquire information about the value of things before sales transactions, and voluntary versus required disclosure of such information. Two distinctions are
Damage Measures for Breach of Contract
This article studies rules of "damage measures" that determine how much money must be paid by a party who defaults on a contract to the other party to the contract. The theme of the article is that
...
...