The paper identifies what value blockchain adds to the contractual and property processes, exploring its potential and analyzing the main difficulties it is facing. It argues that, contrary to naive conceptions that proclaim ...

We argue that in the development of the Western legal system, cognitive departures are the main determinant of the optimal degree of judicial rule-making. Judicial discretion, seen here as the main distinguishing feature ...

This paper analyzes social choice with respect to the demarcation of land boundaries, distinguishing between physical and legal demarcation. In contrast with the influential land administration literature and the World ...

Contract enforcement does not only affect single transactions but the market as a whole. We compare alternative institutions that allocate enforcement rights to the different parties to a credit transaction: either lenders, ...

Simplifying business formalization and eliminating outdated formalities is often a good way of improving the institutional environment for firms. Unfortunately, the World Bank s "Doing Business" project is harming such ...