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Articles 1 - 18 of 18
Full-Text Articles in Law
Employee Ownership After Privatization: Governance Institutions And Firm Performance In Romania, John S. Earle, ÁLmos Telegdy
Employee Ownership After Privatization: Governance Institutions And Firm Performance In Romania, John S. Earle, ÁLmos Telegdy
Reports
This paper studies the governance institutions and performance consequences of privatization through management-employee buyout (MEBO) in Romania. Detailed firm-level survey data are used to analyze ownership rights practices concerning voting, dividend payment, and sales of shares, and to study the continued role of the state through restructuring restrictions in the privatization contracts, difficulties in installment payment, and possible renationalization of shares. Comprehensive privatization and registry data are used to estimate the productivity performance of industrial MEBOs, compared with mass transfers to dispersed individuals, sales to domestic and foreign blockholders, and continued ownership by the state. We find that the ownership …
The U.S. Health Care System: Best In The World, Or Just The Most Expensive?, Bureau Of Labor Education. University Of Maine
The U.S. Health Care System: Best In The World, Or Just The Most Expensive?, Bureau Of Labor Education. University Of Maine
Bureau of Labor Education
For many years, politicians and insurance companies could blithely proclaim that the U.S. had the best health care system in the world, but as its major shortcomings become more visible, Americans are finding it harder to accept this assertion. The 42.6 million people in the U.S. currently without health insurance are acutely aware that our health care system is not working for everyone, and there is growing recognition that the major problems of rising costs and lack of access constitute a real crisis. However, the search for solutions has not been easy or clear cut. Policymakers often attempt to address …
Reflections On Market Reform In Post-War, Post-Embargo Vietnam, Lan Cao
Reflections On Market Reform In Post-War, Post-Embargo Vietnam, Lan Cao
Faculty Publications
No abstract provided.
Labor's Demographics Report For 2001, Bureau Of Labor Education. University Of Maine
Labor's Demographics Report For 2001, Bureau Of Labor Education. University Of Maine
Bureau of Labor Education
According to the U.S. Department of Labor, in 2000 the actual number of union members in the U.S. declined by 219,000 from the previous year. The percentage of U.S. wage and salary workers who were unionized dropped from 13.9 percent in 1999 to 13.5 percent in 2000. In comparison, during 1999 the number of union members increased by 266,000. Historically, this increase comprised the largest annual growth in union membership in twenty years. Not since 1979, did a larger increase occur with workers joining unions.2 The decrease in the number and percent of union members in 2000 reflects the continued …
Aggregation, Auctions, And Other Developments In The Selection Of Lead Counsel Under The Pslra, Jill E. Fisch
Aggregation, Auctions, And Other Developments In The Selection Of Lead Counsel Under The Pslra, Jill E. Fisch
All Faculty Scholarship
No abstract provided.
Maine's Development Dilemma, 2001 Update, Bureau Of Labor Education. University Of Maine
Maine's Development Dilemma, 2001 Update, Bureau Of Labor Education. University Of Maine
Bureau of Labor Education
In the face of economic challenges that continue to face Maine and other states in a time of globalization and rapid technological change, economic development is widely seen as essential to the well-being of Maine's economy and to an increased quality of life for its citizens. However, the nature of Maine's economy, natural resource base, and geography creates a difficult dilemma for our state. This is the paradox we face: while some form of economic development is clearly imperative, the long-term misallocation of scarce economic resources in pursuit of this goal, though well-intended, may cause further harm to the economy …
The Regulatory History Of A New Technology: The Electromagnetic Telegraph, Alexander J. Field
The Regulatory History Of A New Technology: The Electromagnetic Telegraph, Alexander J. Field
Economics
Attitudes toward economic regulation in the United States have, since colonial times, been influenced by an almost schizophrenic oscillation between dirigiste and laissez-faire ideology. The laissez-faire tradition maintains that within a legal system providing elementary guarantees against force and fraud, business enterprise should be allowed the maximum possible freedom. The dirigiste tradition, on the other hand, recommends government intervention in a variety of situations, including those where the social return may exceed the private rate of return to research and development spending, in cases of natural monopoly, or where a firm has erected barriers to entry that give it effective …
Time-Shifted Rationality And The Law Of Law's Leverage: Behavioral Economics Meets Behavioral Biology, Owen D. Jones
Time-Shifted Rationality And The Law Of Law's Leverage: Behavioral Economics Meets Behavioral Biology, Owen D. Jones
Vanderbilt Law School Faculty Publications
A flood of recent scholarship explores legal implications of seemingly irrational behaviors by invoking cognitive psychology and notions of bounded rationality. In this article, I argue that advances in behavioral biology have largely overtaken existing notions of bounded rationality, revealing them to be misleadingly imprecise - and rooted in outdated assumptions that are not only demonstrably wrong, but also wrong in ways that have material implications for subsequent legal conclusions. This can be remedied. Specifically, I argue that behavioral biology offers three things of immediate use. First, behavioral biology can lay a foundation for both revising bounded rationality and fashioning …
Risk, Death And Time: A Comment On Judge Williams’ Defense Of Cost-Benefit Analysis, Matthew D. Adler
Risk, Death And Time: A Comment On Judge Williams’ Defense Of Cost-Benefit Analysis, Matthew D. Adler
Faculty Scholarship
No abstract provided.
The Evolution Of Irrationality, Owen D. Jones
The Evolution Of Irrationality, Owen D. Jones
Vanderbilt Law School Faculty Publications
The place of the rational actor model in the analysis of individual and social behavior relevant to law remains unresolved. In recent years, scholars have sought frameworks to explain: a) disjunctions between seemingly rational behavior and seemingly irrational behavior; b) the origins of and influences on law-relevant preferences, and c) the nonrandom development of norms. This Article explains two components of an evolutionary framework that, building from accessible insights of behavioral biology, can encompass all three. The components are: "time-shifted rationality" and "the law of law's leverage."
On Insider Trading, Markets, And "Negative" Property Rights In Information, Zohar Goshen, Gideon Parchomovsky
On Insider Trading, Markets, And "Negative" Property Rights In Information, Zohar Goshen, Gideon Parchomovsky
All Faculty Scholarship
No abstract provided.
Givings, Abraham Bell, Gideon Parchomovsky
Givings, Abraham Bell, Gideon Parchomovsky
All Faculty Scholarship
Givings - government acts that enhance property value - are omnipresent. Givings and takings are mirror images of one another, and of equal practical and theoretical importance, but the Takings Clause of the Fifth Amendment has enabled takings to dominate scholarly attention. This Article makes the first step toward rectifying this disparate treatment by laying the foundation for a law of givings. The Article identifies three prototype givings: physical givings, regulatory givings and derivative givings. The Article shows that givings are a formative force in property, and that a comprehensive takings jurisprudence cannot be devised without an attendant understanding of …
Takings Reassessed, Abraham Bell, Gideon Parchomovsky
Takings Reassessed, Abraham Bell, Gideon Parchomovsky
All Faculty Scholarship
In this Essay, we challenge the conventional typology of constitutional takings by bringing to light a previously unrecognized type of taking-the derivative taking. We show that virtually every exercise of the power of takings generates derivative takings that have largely evaded takings scholars. Furthermore, we demonstrate that the failure of existing takings doctrine to account for derivative takings leads to inefficient and inequitable results. In particular, this failure disproportionately harms the poor. To remedy this problem, we craft an economic model of self-assessment to optimize constitutional protection at low administrative cost. Importantly, our self-assessment mechanism incentivizes property owners to report …
On Trademarks, Domain Names, And Internal Auctions, Gideon Parchomovsky
On Trademarks, Domain Names, And Internal Auctions, Gideon Parchomovsky
All Faculty Scholarship
No abstract provided.
The Market For Medical Ethics, Maxwell Gregg Bloche
The Market For Medical Ethics, Maxwell Gregg Bloche
Georgetown Law Faculty Publications and Other Works
At the core of Kenneth Arrow’s classic 1963 essay on medical uncertainty is a claim that has failed to carry the day among economists. This claim—that physician adherence to an anti-competitive ethic of fidelity to patients and suppression of pecuniary influences on clinical judgment pushes medical markets toward social optimality—has won Arrow near-iconic status among medical ethicists (and many physicians). Yet conventional wisdom among health economists, including several participants in this symposium, holds that this claim is either naïve or outdated. Health economists admire Arrow’s article for its path-breaking analysis of market failures resulting from information asymmetry, uncertainty, and moral …
Norms & Corporate Law: Introduction, Edward B. Rock, Michael L. Wachter
Norms & Corporate Law: Introduction, Edward B. Rock, Michael L. Wachter
All Faculty Scholarship
No abstract provided.
Islands Of Conscious Power: Law, Norms, And The Self-Governing Corporation, Edward B. Rock, Michael L. Wachter
Islands Of Conscious Power: Law, Norms, And The Self-Governing Corporation, Edward B. Rock, Michael L. Wachter
All Faculty Scholarship
No abstract provided.
What's My Copy Right?, Michael J. Madison
What's My Copy Right?, Michael J. Madison
Articles
This piece consists of an early 21st century whimsy, a dialogue that borrows and blends history and humor to illustrate some puzzles of copyright law in the context of digital technology (with references to Folsom v. Marsh and Abbott & Costello).