Tuesday, February 17, 2004

Oh, the Hand Formula

In the middle of reading a working paper on the application of the Hand Formula, more specifically the authors allege that it fails to promote social cost minimization. Although I think they make credible arguments, their specific approach to remedy is at least slightly flawed. I will have more on this later after I have digested it all and thought my own critique through a bit.

(Paper is available here)


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