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Markets, tort law, and regulation are alternative methods of achieving safety. Of these, the market is the most powerful, but it is often ignored in policy discussions. I show that [...]

CONGRESS AND THE STATES ARE MOVING rapidly to enact new legislation in the wake of a series of high-profile data security breaches at both private and public institutions. A major [...]

PHARMACEUTICAL SALES REPRESENTATIVES have incentives to 'oversell' their products. But they also benefit by providing truthful information about their drugs' benefits. In analyzing the effects of sales and promotion efforts, [...]

ANTIBIOTIC RESISTANCE OCCURS WHEN bacteria evolve under selection pressure from antibiotic use and become resistant to the medication. Because a generation for a bacterium is extremely short (no more than [...]

Analysis of a model of the cultural co-evolution of honesty and capital is presented. The signs of the payoff differential between honest and dishonest types that depends on the ratio of benefits that an employee gets from shirking to the resulting loss of revenue to the firm is shown.

Decisions concerning treatments provided by health insurance companies will be governed better by contract law rather than tort law. Increased tort liability for health maintenance organizations (HMOs) does not benefit subscribers of the HMOs' plan but only the plaintiffs' lawyers. This makes low-income workers further averse to purchasing medical insurance because it places the price of medical insurance further beyond the reach of the average wage worker.

An analysis of concealed handgun law effects on crime rates reveals that the impact is by no means negative across all crime categories and are much smaller than suggested by Lott and Mustard in their 1997 paper. The study shows that there is a pattern regarding the effect of shall issue-laws on crime rates that policy-makers can use to tailor laws for particular social conditions in their jurisdiction.

Tort laws deter manufacturers from causing excess harm or in the case of medical services, deter malpractice. However, the real purpose of the law is defeated because courts are granted the authority to define parties' liability for damages. An effective tort system should respect the rights of contract. Regulatory reform aimed at allowing parties to determine for themselves the liability for damages will provide cost-effective protection for consumers.