Behavioral Law & Economics

When the concept of law and economics came into existence, behavioral economics was a central point of contact. The Coase theorem is the foundation of law and economics. According to the theorem, the outcome is not affected by allocation of legal rights to one party or another if transaction costs are sufficiently low because . . . → Read More: Behavioral Law & Economics

Corruption And Chinese Corporate Hardball

THE FAR EAST

China is a completely different world and the way of doing business there clashes with traditional Western practices.  If the West’s great contribution to humanity was the rule of law then the East’s great contribution is bureaucracy.  This method for allocating capital does have some advantages but that hardly means it . . . → Read More: Corruption And Chinese Corporate Hardball