Private Rights and Administrative Discretion

Public Enforcement Compensation and Private Rights

Voting Rights, Private Benefits, and Takeovers

T his article presents a textbook exposition of the effects that institutional design of the firm has on allocation of control over assets. The efficient allocation of control over the assets bundled up in the firm is necessary for the optimal allocation of its resources. Dynamic efficiency in resource allocation presupposes that control over firms will change hands when a given allocation turn...

Voting Rights, Private Bebefits, and Takeovers

T his article presents a textbook exposition of the effects that institutional design of the firm has on allocation of control over assets. The efficient allocation of control over the assets bundled up in the firm is necessary for the optimal allocation of its resources. Dynamic efficiency in resource allocation presupposes that control over firms will change hands when a given allocation turn...

Control Rights in Public-Private Partnerships

This paper develops a theory of the allocation of authority between two parties that produce impure public goods. We show that the optimal allocation depends on technological factors, the parties’ valuations of the goods produced, and the degree of impurity of these goods. When the degree of impurity is large, control rights should be given to the main investor, irrespective of preference consi...

Mandating HPV vaccination--private rights, public good.

To the Editor: Those who oppose mandating vaccination against human papillomavirus (HPV) as a condition for school entry generally open the debate with two fundamental questions. First, how can the government interfere in the medical decisions parents make for their children by compelling immunizations for school entry? Second, how can the HPV vaccine be a good candidate for school mandates whe...