Previous research on segregation stresses things like urban form and racial preferences as primary causes. The author finds that an institutional force is more important: local land regulation. Using two datasets of land regulations for the largest [...]
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I develop a model in which there are two groups in society, one of which bears all the costs of a regulation that provides (potentially unequal) benefits to both groups. Absent compensation, a biased government will not choose the efficient level of [...] This article examines the impact on shareholder voting of the Securities and Exchange Commission (SEC)’s mutual fund voting disclosure rule, using a paired sample of management proposals on executive equity incentive compensation plans submitted [...] Mandatory disclosure of evidence (the so-called Brady rule) is considered to be among the most important bulwarks against prosecutorial misconduct. While protecting the generality of defendants in the criminal process, we show that under certain [...] The violent nature of illegal markets is one rationale for legalizing the sale of narcotics. High U.S. crime rates during the 1920s are regularly presented as evidence of the strong positive relationship between market illegality and violence. The [...] The separation of the legislative, executive, and judiciary powers is a key principle in most democratic constitutions. We analyze the costs and benefits of separating legislature and executive in an incomplete contracts model: the executive can [...] There is a well-documented link between institutions of secure property rights and economic development. The increasing use of eminent domain to transfer property from one private owner to another for private benefit, upheld in the Supreme Court’s [...] |
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