Hardbound. Research in Law and Economics is a highly respected source of proactive, original perspectives on law and economics. For the researcher, this latest volume offers a diverse set of papers, each one a constructive contribution. The papers address: how the Supreme Court can clarify and rationalize the payment of pre-judgment interest; what is meant or should be meant by economic efficiency; the length of various statutes of limitations for accident cases; implications of the court congestion hypothesis of Posner and Priest; the efficiency of medical malpractice insurance; and the...

This volume emphasizes the importance of institutional design in addressing social problems. Three important issues concerning institutional design are: policies, instruments and enforcement. This text surveys each of the issues, and emphasizes the common themes arising in optimal institutional design. These themes include the cost of complex institutional design, and the role of private institutions attaining social objects. The book is intended for law schools, departments of government, policy or economics, environmental managers and insurance companies.