Expropriation in ancient Rome was an institution of public law and, at the same time, a manifestation sovereign interference state sphere subjective rights individual. It led to removal most important rem, ie ownership real estate, from private person. However, this could only happen after certain conditions were met. First, expropriation had be justified by aim which achieved thanks acquired e...

This Article builds upon prior empirical findings on the prevalence of pyramids and focuses on the financing subsidies derived through the internal capital markets of pyramids–particularly through affiliations with financial institutions. Part I of this Article provides a brief overview of the relevant literature and the role that pyramids can play in separating ownership and voting rights. Par...

This paper provides a theory of the interactions between democratization and the emergence of rule of law. Heterogeneous individuals can make costly investments in protection against expropriation by others and the state. The public enforcement of property rights, whose cost depends on these investments, is chosen by the politically enfranchised population. We characterize the dynamic evolution...

The privatization process in Eastern Europe is not irreversible. Future governments may want to (partially) expropriate successul private rms in order to subsidize unsuccessful ones. We use a simple median voter model to predict the policy of future governments. It is shown that there will be less expropriation the more shares were distributed for free to the population. Diversi ed mass privati...

The size of a supermajority required to change an existing contract varies widely in different settings. This paper analyzes the optimal supermajority requirement, determined by multilateral bargaining behind the veil of ignorance, where there are a continuum of possible policies. The optimum is determined by a tradeoff between reducing blocking power of small groups and reducing expropriation ...

This paper studies the strategic interaction between a foreign direct investor and a host country. We analyze how the investor can use his control rights to protect his investment if he faces the risk of “creeping expropriation” once his investment is sunk. It is shown that this hold-up problem may cause underinvestment if the bargaining position of the investor is too weak and overinvestment i...

In this article, the Polish institution of administrative entry to area in order carry out repair, maintenance or removal failures transmission equipment will be presented. It entitles public-law interference constitutionally protected property right, under condition that determinants its application have been met. The aim analysis is indicate expropriation nature regulation, which a specific f...