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Full-Text Articles in Law
A Positive Political Model Of Supreme Court Economic Decisions, Tony Caporale, Harold Winter
A Positive Political Model Of Supreme Court Economic Decisions, Tony Caporale, Harold Winter
Economics and Finance Faculty Publications
We develop a positive political model of the U.S. Supreme Court. Looking at the Court's economic cases for the period 1953-1993, we find a significant larger fraction of conservative decisions under Republican presidents and more conservative leadership of the House and Senate Judiciary Committees. Conservative decisions are also found to be positively correlated with the fraction of the Court appointed by Republican presidents and the rate of price inflation. We argue that our findings cast serious doubt on the common view of the Supreme Court as a completely independent, apolitical institution.
Put-Call Parity And The Law, Michael S. Knoll
Put-Call Parity And The Law, Michael S. Knoll
All Faculty Scholarship
A common literary theme is the conflict between appearance and reality. That conflict also frequently arises in the law, where it is usually cast as one between substance and form. Another discipline in which the conflict arises is finance, where it appears in the put-call parity theorem. That theorem states that given any three of the four following financial instruments--a riskless zero-coupon bond, a share of stock, a call option on the stock, and a put option on the stock--the fourth instrument can be replicated. Thus, the theorem implies that any financial position containing these assets can be constructed in …
Enron And The Dark Side Of Shareholder Value, William W. Bratton
Enron And The Dark Side Of Shareholder Value, William W. Bratton
All Faculty Scholarship
No abstract provided.
Dangerous Liaisons: Corporate Law, Trust Law, And Interdoctrinal Legal Transplants, Edward B. Rock, Michael L. Wachter
Dangerous Liaisons: Corporate Law, Trust Law, And Interdoctrinal Legal Transplants, Edward B. Rock, Michael L. Wachter
All Faculty Scholarship
No abstract provided.
Vertical Integration And Media Regulation In The New Economy, Christopher S. Yoo
Vertical Integration And Media Regulation In The New Economy, Christopher S. Yoo
All Faculty Scholarship
Recent mergers and academic commentary have placed renewed focus on what has long been one of the central issues in media policy: whether media conglomerates can use vertical 'integration to harm competition. This Article seeks to move past previous studies, which have explored limited aspects of this issue, and apply the full sweep of modern economic theory to evaluate the regulation of vertical integration in media-related industries. It does so initially by applying the basic static efficiency analyses of vertical integration developed under the Chicago and post-Chicago Schools of antitrust law and economics to three industries: broadcasting, cable television, and …