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About Doing the Right Thing as an Academic Economist  

Erwin Dekker and Arjo Klamer

Print publication date:
Apr 2016
Online publication date:
Sep 2014
This chapter argues that the art of phronesis is central to doing the right thing as an economist. Phronesis, or practical wisdom, is what we practice when we deliberate, weigh values, ... More

Adam Smith and the Law  

Fabrizio Simon

Print publication date:
May 2013
Online publication date:
Jul 2013
This chapter examines Adam Smith’s reflection on the Law in his main works. Particular attention is paid to the difference between Smith’s thought and the Juridical Enlightenment. Smithian ... More

Adam Smith on Value and Prices  

Nerio Naldi

Print publication date:
May 2013
Online publication date:
Jul 2013
This chapter considers the evolution of the way Smith presented his analysis of value and prices from the to and its importance to understand the structure that that analysis assumes in , where it ... More

Adam Smith: Theorist of Corruption  

Spiros Tegos

Print publication date:
May 2013
Online publication date:
Jul 2013
Adam Smith not only champions commerce, he also criticizes it. In this criticism Smith draws critically upon a long-standing concern in enlightenment’s culture about the proper basis of political and ... More

Additive Models: Extensions and Related Models  

Enno Mammen, Byeong U. Park, and Melanie Schienle

Print publication date:
Feb 2014
Online publication date:
Aug 2014
This chapter gives an overview over smooth backfitting-type estimators in additive models. Moreover, it illustrates their wide applicability in models closely related to additive models ... More

Alternative Behavioral Law and Economics  

Gregory Mitchell

Print publication date:
Nov 2014
Online publication date:
Nov 2014
This chapter considers the psychological, methodological, and normative paths taken by behavioral law and economics (“BLE”) and alternative paths that BLE might have taken, and might still ... More

Alternative Ethical Perspectives on the Financial Crisis: Lessons for Economists  

Irene van Staveren

Print publication date:
Apr 2016
Online publication date:
Mar 2014
This chapter analyzes the financial crisis from three ethical perspectives. It starts from utilitarianism, the ethical theory underlying neoclassical economics, which has partly driven the ... More

The Antitrust Analysis of Multisided Platform Businesses  

David Evans and Richard Schmalensee

Print publication date:
Dec 2014
Online publication date:
Apr 2015
This chapter provides a survey of the economics literature on multisided platforms with particular focus on competition policy issues, including market definition, mergers, monopolization, ... More

Antitrust Corporate Governance and Compliance  

D. Daniel Sokol and Rosa Abrantes-Metz

Print publication date:
Dec 2014
Online publication date:
Apr 2015
Both theoretical and empirical work in a number of different fields, including economics, accounting, finance, organizational theory, and sociology provides important insights indicating ... More

Antitrust Enforcement Regimes: Fundamental Differences  

Keith N. Hylton

Print publication date:
Dec 2014
Online publication date:
Apr 2015
Since China has modeled its antitrust regime on that of the EU, there are essentially two antitrust regime types: the United States and the EU. This chapter is a brief comparative study of ... More

Antitrust Settlements  

Daniel L. Rubinfield

Print publication date:
Dec 2014
Online publication date:
Apr 2015
Antitrust litigation has been experiencing a growth spurt in the past several decades as the result of expanding public enforcement worldwide, active private enforcement in the United ... More

Antitrust, the Internet, and the Economics of Networks  

Daniel Spulber and Christopher Yoo

Print publication date:
Dec 2014
Online publication date:
Apr 2015
Network industries, including the Internet, have shown significant growth, substantial competition, and rapid innovation. This chapter examines antitrust policy towards network industries. ... More

Auctions and Bid Rigging  

R. Preston McAfee, Michael Williams, and Kenneth Hendricks

Print publication date:
Dec 2014
Online publication date:
Apr 2015
This chapter surveys the theoretical and empirical literature on bid rigging in auctions. In particular, it reviews the theory and practice of bidding rings in one-shot auctions and in ... More

Austrian Perspectives in Law and Economics  

Shruti Rajagopalan and Mario J. Rizzo

Print publication date:
Apr 2017
Online publication date:
May 2017
This article describes and analyzes the Austrian approach to law and economics within the context of the law and economics discipline. The important and distinctive feature of the Austrian ... More

Balancing Risk and Benefit: Ethical Tradeoffs in Running Randomized Evaluations  

Rachel Glennerster and Shawn Powers

Print publication date:
Apr 2016
Online publication date:
Jul 2014
The increasing use of randomized evaluations in economics has brought an increase in discussion about ethical issues. We argue that while there are ethical issues specific to ... More

Banking and Financial Regulation  

Steven L. Schwarcz

Print publication date:
Apr 2017
Online publication date:
Jun 2017
This chapter focuses on the universal principles of banking and financial regulation. Banking and financial regulation is needed to protect the financial system, which provides functions ... More

Baseball's Antitrust Exemption: History And Current Relevance  

Roger D. Blair and Jessica S. Haynes

Print publication date:
Apr 2012
Online publication date:
Sep 2012
This chapter explores Major League Baseball (MLB)'s antitrust exemption and its current relevance, starting by presenting a brief overview of the antitrust laws in the United States. Next, ... More

Behavioral Analysis of Criminal Law: A Survey  

Alon Harel

Print publication date:
Nov 2014
Online publication date:
Nov 2014
After contrasting behavioral criminal law and economics with the retributivist tradition and with traditional criminal law and economics, the chapter illustrates how various behavioral ... More

Behavioral Economics and Contract Law  

Melvin A. Eisenberg

Print publication date:
Nov 2014
Online publication date:
Nov 2014
Classical contract law, Chicago economics, and Chicago law-and-economics all assumed that people rationally maximize their utility. However, just as classical contract law was supplanted ... More

Behavioral Economics and Insurance Law: The Importance of Equilibrium Analysis  

Tom Baker and Peter Siegelman

Print publication date:
Nov 2014
Online publication date:
Nov 2014
Because choosing insurance requires consumers to assess risks and probabilities, the demand for insurance has proven to be fertile ground for identifying deviations from rational behavior. ... More

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