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This article looks at the effect that damage caps have on plaintiffs' recovery in medical malpractice litigation, using a unique data set of litigation in the South, from 1987 to 1999. During this time, Alabama underwent both the implementation and nullification of damage‐cap laws; neighboring...
This study analyzes auto personal injury claims across the states to estimate the frequency of claims for nonexistent or preexisting injuries. We develop a series of hypotheses regarding the specific claiming patterns that would signal the presence of excess claims. We draw on a nationally...
Critics of zoning have attributed to it much of the responsibility for the persistent and severe patterns of racial and economic segregation that characterize urban America. Yet, little empirical evidence has been produced to demonstrate the degree to which observed patterns of residential...
This article examines the role of title registration in providing security of property rights for landowners. A simple model is developed to examine the trade‐off between increased security of registering title against the administrative costs of accessing the system. The model predicts that the...
The “revolving door” problem linking private interests and government decision makers has become an important mechanism in the implementation of influence peddling. The “revolving door” problem is premised on the assumption that a market exists for the services of former government employees....
Building on Romano's recent analysis of the United States securities regulatory regime, we model competition between professional auditing associations. We show that such competition is an effective substitute for government regulation, providing an efficient means for auditors to signal their...
This article investigates the role of evidence production in the regulation of private behavior via judicial and administrative process. It proposes a model in which the law makes the agent's “fine” depend on the presentation of evidence whose production cost, in turn, depends on how the agent...
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