The Distributive Deficit in Law and Economics Page 1 Article The Distributive Deficit in Law
and Economics Lee Anne Fennellt & Richard H. McAdamstt Introduction …

We compare centralized and decentralized policy making in a federation in which policy
heterogeneity is inherently costly and preferences vary across jurisdictions: all jurisdictions …

Spain has the world's lowest business bankruptcy rate (number of formal business
bankruptcies divided by number of firms). We document this fact, analyze the Spanish …

Despite its reputation, economics has much to say about the costs of inequality. Much of the
early work in law and economics avoided the issue of inequality by using a normative …

The current process of attempting to harmonize Contract Law in Europe–both at the level of
the existing consumer Acquis, but also affecting national Contract Laws of the European …

The primary means of enforcement of legal liabilities is through the seizure of debtors'
assets. However, debtors can shield their assets in various ways and thereby reduce the …

In important areas like medical malpractice and environmental torts, injurers are potentially
insolvent and courts may make errors in determining liability (eg due to hindsight bias). We …

Abstract As Alicke and Govorun (The self in social judgment, Psychology Press, New York,
2005, p. 85) observed,“most people are average, but few people believe it.” Optimism and …

This paper aims to present some preliminary ideas about the potential benefits and costs
arising from the process of European Contract Law harmonization for the functioning of the …

In risky activities the extrinsic incentives for care are driven mainly by liability rules and by
the asset levels of potential injurers. When the level of assets of the potential injurer is …