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Review of Law & Economics

Editor-in-Chief: Parisi, Francesco / Engel, Christoph

Ed. by Cooter, Robert D. / Gómez Pomar, Fernando / Kornhauser, Lewis A. / Parchomovsky, Gideon / Franzoni, Luigi Alberto

CiteScore 2018: 0.32

SCImago Journal Rank (SJR) 2018: 0.274
Source Normalized Impact per Paper (SNIP) 2018: 0.493

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Volume 5, Issue 1


Protecting Private Property with Constitutional Judicial Review: A Social Welfare Approach

Peter Z. Grossman / Daniel H. Cole
Published Online: 2009-05-08 | DOI: https://doi.org/10.2202/1555-5879.1309

This article uses a social welfare approach to determine if and when the institution of constitutional judicial review of property regulation and expropriation is efficient. A model is proposed in which property rights protection is a component of social costs. Constitutional judicial review is assumed to either add to or subtract on net from those costs, affecting social welfare generally. It will be shown that under realistic conditions, reflected in real instances, that constitutional judicial review might not enhance economic efficiency or overall social welfare. We show that the efficiency of constitutional judicial review is likely to vary within the larger institutional context.

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Published Online: 2009-05-08

Citation Information: Review of Law & Economics, Volume 5, Issue 1, Pages 233–250, ISSN (Online) 1555-5879, DOI: https://doi.org/10.2202/1555-5879.1309.

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