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Flouting The Law: Does Perceived Injustice Provoke General Non-Compliance?, Janice Nadler
Flouting The Law: Does Perceived Injustice Provoke General Non-Compliance?, Janice Nadler
Law and Economics Papers
What happens when people's common sense view of justice diverges from the sense of justice they see enshrined in particular legal rules and legal outcomes? In particular, does the perception of one particular law as unjust make people less likely to comply with unrelated laws? This article reports an experiment that empirically tested the Flouting Thesis - the idea that the perceived justice of one law can influence the intention to comply with unrelated laws. Participants who were exposed to laws they perceived as unjust were more willing, as a general matter, to flout unrelated laws, compared to participants exposed …
Access To Networks: Economic And Constitutional Connections, Daniel F. Spulber, Christopher S. Yoo
Access To Networks: Economic And Constitutional Connections, Daniel F. Spulber, Christopher S. Yoo
Law and Economics Papers
A fundamental transformation is taking place in the basic approach to regulating network industries. Policy makers are in the process of abandoning their century-old commitment to rate regulation in favor of a new regulatory approach known as access regulation. Rather than controlling the price of outputs, the new approach focuses on compelling access to and mandating the price of inputs. Unfortunately, this shift in regulatory policy has not been met with an accompanying shift in the manner in which regulatory authorities regulate prices. Specifically, policy makers have continued to base rates on either historical or replacement cost. We argue that …
Roundtable Discussion: Corporate Governance, William J. Carney, Jack B. Jacobs, Richard W. Painter, Robert Pritzker, Robert H. Sitkoff
Roundtable Discussion: Corporate Governance, William J. Carney, Jack B. Jacobs, Richard W. Painter, Robert Pritzker, Robert H. Sitkoff
Law and Economics Papers
This is a transcript of a roundtable discussion between Robert Pritzker of The Marmon Group, Inc., Vice-Chancellor Jack Jacobs of the Delaware Court of Chancery, and Law Professors William Carney, Richard Painter, and Robert Sitkoff, with Professor Carney serving as moderator. The general topic was corporate governance. Among other things the participants discussed the implications of information provided by Mr. Pritzker regarding Smith v. Van Gorkom. Mr. Pritzker stated that the $55 price and the one-week deadline were established by Jerry Van Gorkom, not the Pritzkers. Mr. Pritzker also described the terms and the motivations for the Pritzkers' contribution to …