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- Robert B. Ahdieh (5)
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- Herbert Hovenkamp (2)
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- Karl T Muth (2)
- Roger M. Groves (2)
- Bart J. Wilson (1)
- Bradley G. Bodiford (1)
- Bryant Walker Smith (1)
- Charles W. Murdock (1)
- David K. Millon (1)
- David Randall Jenkins, Ph.D. (1)
- Jana B. Singer (1)
- Jason M. Goldstein (1)
- Molly Macauley (1)
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Justice And Fairness In The Dictator Game, Bart Wilson, Karl Schurter
Justice And Fairness In The Dictator Game, Bart Wilson, Karl Schurter
Bart J Wilson
No abstract provided.
Exchange And Specialisation As A Discovery Process, Bart Wilson, Sean Crockett, Vernon Smith
Exchange And Specialisation As A Discovery Process, Bart Wilson, Sean Crockett, Vernon Smith
Bart J Wilson
No abstract provided.
Poisoning The Well: Law & Economics And Racial Inequality, Robert Suggs
Poisoning The Well: Law & Economics And Racial Inequality, Robert Suggs
Robert E. Suggs
The standard Law & Economics analysis of racial discrimination has stunted our thinking about race. Its early conclusion, that laws prohibiting racial discrimination were unnecessary and wasteful, discredited economic analysis of racial phenomena within the civil rights community. As a consequence we know little about the impact of racial discrimination on commercial transactions between business firms. Laws do not prohibit racial discrimination in transactions between business firms, and the disparity in business revenues between racial minorities and the white mainstream dwarf disparities in income by orders of magnitude. This disparity in business revenues is a major factor in the persistence …
September 11th, John Maynard Keynes, Kenneth J. Arrow, And Me: The Nexus, David Randall Jenkins
September 11th, John Maynard Keynes, Kenneth J. Arrow, And Me: The Nexus, David Randall Jenkins
David Randall Jenkins, Ph.D.
Tying, Price Discrimination And Antitrust Policy, Herbert Hovenkamp
Tying, Price Discrimination And Antitrust Policy, Herbert Hovenkamp
Herbert Hovenkamp
ABSTRACT
A tying arrangement is a seller’s requirement that a customer may purchase its “tying” product only by taking its “tied” product. In a variable proportion tie the purchaser can vary her purchases of the tied product. For example, a customer might purchase a single printer, but either a contract or technological design requires her to purchase varying numbers of printer cartridges from the same manufacturer. Such arrangements are widely considered to be price discrimination devices, but their economic effects have been controversial.
Price discrimination comes in various “degrees.” In third degree price discrimination the seller isolates two or more …
The Unnatural Disaster: Who Will Pay For The Next Major Hurricane, Bradley Bodiford
The Unnatural Disaster: Who Will Pay For The Next Major Hurricane, Bradley Bodiford
Bradley G. Bodiford
Since Hurricane Katrina, most state’s hurricane insurance programs have become increasingly political in an effort to control rapidly rising insurance rates. These legislative efforts often create their desired short-term effects, but only at the expense of harming millions of insurance customers in the long-term. Florida provides a perfect laboratory for examining the current crisis with its heavy coastal population and high vulnerability to hurricanes. By using a case study of a state with a more conservative hurricane insurance system, the article attempts to bridge the gap between the current system and the self-sustaining system. Specifically, the article proposes a glide …
Close Enough For Government Work: The Committee Rulemaking Game, Paul J. Stancil
Close Enough For Government Work: The Committee Rulemaking Game, Paul J. Stancil
Paul J Stancil
Procedural rules in U.S. courts often have predictable and systemic substantive consequences. Yet the vast majority of procedural rules are drafted, debated, and ultimately enacted by a committee rulemaking process substantially removed from significant legislative or executive supervision. This Article explores the dynamics of the committee rulemaking process through a game-theoretical lens. The model reveals that inferior players in the committee rulemaking game—advisory committees, the Standing Committee on Rules of Practice and Procedure, the Judicial Conference and the Supreme Court—are sometimes able to arbitrage Congressional transaction costs to obtain results at odds with the results Congress would prefer in a …
Justice And Fairness In The Dictator Game, Bart Wilson, Karl Schurter
Justice And Fairness In The Dictator Game, Bart Wilson, Karl Schurter
Bart J. Wilson
No abstract provided.
Alimony And Efficiency: The Gendered Costs And Benefits Of Economic Justification For Alimony, Jana B. Singer
Alimony And Efficiency: The Gendered Costs And Benefits Of Economic Justification For Alimony, Jana B. Singer
Jana B. Singer
No abstract provided.
Waste Not, Want Not: Economic And Legal Challenges Of Regulation-Induced Innovation In Waste Technology And Management, Molly Macauley
Waste Not, Want Not: Economic And Legal Challenges Of Regulation-Induced Innovation In Waste Technology And Management, Molly Macauley
Molly Macauley
Regulation to protect public health and the environment has transformed the “town dump” into large, regional state-of-the art waste disposal facilities managed by a nationwide industry with revenues of over $40 billion annually. Responsibility for waste regulation rests with state and local authorities, however, and their intervention in price, quantity, and location attributes of the market has prompted legal challenges under the dormant commerce clause. This article reviews the regulation-induced changes in the market, its subnational governmental oversight, and protection of interstate commerce when new technology restructures a local service into a national business.
Why Not Tell The Truth?: Deceptive Practices And The Economic Meltdown, Charles W. Murdock
Why Not Tell The Truth?: Deceptive Practices And The Economic Meltdown, Charles W. Murdock
Charles W. Murdock
Today we are witnessing a crisis caused by economic formulae developed without a responsible exercise of judgment and, in many instances, with a shocking disregard for the truth. The virtue of truthfulness is not just some abstract moral principle. Rather, it is a critical component of a well functioning society. As the current situation demonstrates, the lack of regard for truthfulness can have disastrous consequences, not just for our own country, but around the world.
This article will first examine how broadly truth is devalued throughout our society. Second, it will focus on the lack of truthfulness in politics and …
The New Regulation: From Command To Coordination In The Modern Administrative State, Robert B. Ahdieh
The New Regulation: From Command To Coordination In The Modern Administrative State, Robert B. Ahdieh
Robert B. Ahdieh
The New Regulation: From Command To Coordination In The Modern Administrative State, Robert B. Ahdieh
The New Regulation: From Command To Coordination In The Modern Administrative State, Robert B. Ahdieh
Robert B. Ahdieh
The New Regulation: From Command To Coordination In The Modern Administrative State, Robert B. Ahdieh
The New Regulation: From Command To Coordination In The Modern Administrative State, Robert B. Ahdieh
Robert B. Ahdieh
The New Regulation: From Command To Coordination In The Modern Administrative State, Robert B. Ahdieh
The New Regulation: From Command To Coordination In The Modern Administrative State, Robert B. Ahdieh
Robert B. Ahdieh
The New Regulation: From Command To Coordination In The Modern Administrative State, Robert B. Ahdieh
The New Regulation: From Command To Coordination In The Modern Administrative State, Robert B. Ahdieh
Robert B. Ahdieh
The ‘Growth Budget’: Disciplined And Responsible Government Spending For Future Prosperity, Neil H. Buchanan
The ‘Growth Budget’: Disciplined And Responsible Government Spending For Future Prosperity, Neil H. Buchanan
Neil H. Buchanan
This essay considers how spending by the federal government can improve long-term living standards. The familiar concept of “capital budgeting” separates government expenditures into two categories: purchases of goods and services for current consumption that provide no long-term payoff (“operating expenditures”), and purchases of productive capital goods that do generate long-term payoffs (“capital expenditures”). Within that framework, I advocate expanding the range of possible public investments that would count as capital expenditures to include those that do not produce physical infrastructure but that nevertheless provide long-term economic benefits. Adding these items – such as spending on basic research, health care, …
Behavioral Economic Issues In American And Islamic Marriage & Divorce Law, Ryan M. Riegg
Behavioral Economic Issues In American And Islamic Marriage & Divorce Law, Ryan M. Riegg
Ryan M. Riegg
Opportunism, Uncertainty, And Relational Contracting - Antitrust Rules In The Film Industry, Ryan M. Riegg
Opportunism, Uncertainty, And Relational Contracting - Antitrust Rules In The Film Industry, Ryan M. Riegg
Ryan M. Riegg
Beyond The Berle And Means Paradigm: Private Equity And The New Capitalist Order, Stephen Diamond
Beyond The Berle And Means Paradigm: Private Equity And The New Capitalist Order, Stephen Diamond
Stephen F. Diamond
The rise of private equity funds represents a new stage in capitalism. These funds combine financial resources and capital markets expertise with detailed operational knowledge of the operations of takeover targets to maximize the creation and expropriation of value on behalf of investors. Their significant size and aggressive buyout record suggests that we may be witnessing the confirmation of Michael Jensen's 1989 prediction, made in the midst of the first wave of leveraged buyouts, of the “eclipse of the public corporation.” Critics of private equity share a view of the corporation rooted in a decades old characterization by Berle and …
Neoclassicism And The Separation Of Ownership And Control, Herbert Hovenkamp
Neoclassicism And The Separation Of Ownership And Control, Herbert Hovenkamp
Herbert Hovenkamp
NEOCLASSICISM AND THE SEPARATION OF OWNERSHIP AND CONTROL Herbert Hovenkamp ABSTRACT The separation of ownership and control is a phrase that will forever be associated with Adolf A. Berle and Gardiner C. Means The Modern Corporation and Private Property (1932), as well as with Institutionalist economics, Legal Realism, and the New Deal. Neoclassical economists have generally been sharply critical, both of the historical facts that Berle and Means purported to describe and of the conclusions that they drew. In fact, however, the separation of ownership and control had already been an essential element of the neoclassical theory of corporate governance …
The Single Consituency Argument In The Economic Analysis Of Business Law, David Millon
The Single Consituency Argument In The Economic Analysis Of Business Law, David Millon
David K. Millon
No abstract provided.
Money Under The Bridge: The Worker Misclassification Problem, Jason Goldstein
Money Under The Bridge: The Worker Misclassification Problem, Jason Goldstein
Jason M. Goldstein
Briefly, the article analyzes the current framework of employment classification in the United States; identifies substantial problems in classification practice, data collection, and the resulting effects on the tax gap; and critiques current state and federal measures and legislative action to address the issue.
I begin by examining the legal consequences of employment classification, as employees or independent contractors, to workers and employers. I then analyze the most current data regarding the effects of employment misclassification on the tax gap, and highlight the failure of governing agencies to efficiently monitor these lost funds. Finally, I report the various legislation enacted …
Invisible Ink In The Eighth Arrondissement, Karl T. Muth
Invisible Ink In The Eighth Arrondissement, Karl T. Muth
Karl T Muth
IMPORTANT: This document may prompt you for a username and password. If this occurs, please simply click "cancel" and the document will load. Thank you. This Article deals with the history of the secret contract that governs the distribution of economic rents enjoyed by Formula One. It further explores the environment in which this secret contract evolved and briefly discusses applications for secret contracts in other scenarios and industries.
With Avarice Aforethought: Insider Trading And 10b5-1 Plans, Karl T. Muth
With Avarice Aforethought: Insider Trading And 10b5-1 Plans, Karl T. Muth
Karl T Muth
The 10b5-1 plan and its growing popularity create a variety of governance problems and temptations for executives at publicly-traded corporations. The thought, in creating a safe harbor for such plans, was to allow insiders to diversify their individual holdings while in possession of nonpublic, material information. The 10b5-1 plan allows the actual liquidation transaction to occur while the plan participant is in possession of inside information, so long as the orders or instructions causing the trade were created as part of a "plan" that predates the insider's acquisition of the pertinent information. This creates a sort of time machine, where …
Opportunism, Uncertainty, And Relational Contracting - Antitrust Rules In The Film Industry, Ryan M. Riegg
Opportunism, Uncertainty, And Relational Contracting - Antitrust Rules In The Film Industry, Ryan M. Riegg
Ryan M. Riegg
Behavioral Economic Issues In American & Islamic Marriage & Divorce Law, Ryan M. Riegg
Behavioral Economic Issues In American & Islamic Marriage & Divorce Law, Ryan M. Riegg
Ryan M. Riegg
More Private Equity, Less Government Subsidy, And More Tax Efficiency In Urban Revitalization, Roger M. Groves
More Private Equity, Less Government Subsidy, And More Tax Efficiency In Urban Revitalization, Roger M. Groves
Roger M. Groves
MORE PRIVATE EQUITY, LESS GOVERNMENT SUBSIDY, AND MORE TAX EFFICIENCY IN URBAN REVITALIZATION: Modeling Profitable Philanthropy and Investment Incentives In hopes of revitalizing depressed urban areas, US tax policy has been to use tax credits as a major incentive to induce private equity re-investment. But those give away subsidies to private investors have failed to have transformative effects, and come at a price in the billions to the public treasury. This article seeks a shift in the tax policy paradigm to increase the private equity investment, while reducing tax subsidy dependence. For the philanthropic urban investor, the short term incentive …
Facebook 2 Blackberry And Database Trading Systems: Morphing Social Networking To Business Growth In A Global Recession, Roger M. Groves
Facebook 2 Blackberry And Database Trading Systems: Morphing Social Networking To Business Growth In A Global Recession, Roger M. Groves
Roger M. Groves
FACEBOOK 2 BLACKBERRY AND DATABASE TRADING SYSTEMS: MORPHING SOCIAL NETWORKING TO BUSINESS GROWTH IN A GLOBAL RECESSION Summary Facebook has now applications to the Blackberry Smartphone and IPhone. And Facebook has exploded internationally. If the Facebook social networking technology has applications to Blackberry, why not business? And as any business looks for growth, the market is not an existing heavily saturated United States, but a global market. Can the Facebook model of data sharing be customized to propel US technology firms into new international markets? This article claims the affirmative, through a multilateral clearing system, with credits and vouchers, as …
Biofuels, Subsidies, And Dispute Settlement In The Wto, Bryant Walker Smith
Biofuels, Subsidies, And Dispute Settlement In The Wto, Bryant Walker Smith
Bryant Walker Smith
The first WTO panels to tackle a biofuels dispute under the Agreement on Subsidies and Countervailing Measures will navigate a murky sea of conflict, gridlock, and uncertainty that the subsidies agreement did not contemplate and that the failed Doha round did not resolve. This article charts these waters. It identifies both the values that the panels will confront and the interpretive tools that they will wield. It further argues that dispute settlement may become the primary driver of an otherwise stagnant regime, and it sketches three competing visions for protecting the “legally binding security of expectations” that underscores that regime.