Anthropologists, historians, and political economists suggest that private violence—feuding—provides order and enforces agreements in the absence of a state. In their new paper, Benjamin Broman and NOUS member Georg Vanberg ground these accounts in a series of formal models that shows the relationship between feuding, informal arbitration, and formal judicial Read more…
Law and Economics deals with the economic analysis of legal relations, legal provisions, laws and regulations and is a research field which has a long tradition in economics. It was lost after the expulsion of some of the leading economists from Germany during 1933 to 1938, but then revived in Read more…
Although both the problem of corruption and its detrimental effects on society, economy, and environment has widely been recognized, corruption remains one of the most challenging problems of today. In light of globalization, the exclusive focus on compliance-oriented measures such as sharpening laws seems to be more and more ineffective. Read more…
The theme arises from the legal-academic movement “Law and Literature”. This newly developed field should aim at two major goals, first, to investigate the meaning of law in a social context by questioning how the characters appearing in literary works understand and behave themselves to the law (law in literature), Read more…
Heterarchy is a complex adaptive system of governance, an order with more than one governing principle. Heterarchies include elements of hierarchies and networks, but in a number of important ways, heterarchies are different from both of these systems of governance. The model of heterarchical governance is like plate tectonics: mutually Read more…
James M. Buchanan won the Nobel Prize in Economics in 1986 and was a pioneer of public choice and constitutional political economy and contributed to many fields of study, including philosophy, political science, and public finance.