Law Commons^™

Bonding Limited Liability, Robert J. Rhee

Robert Rhee

Limited liability is considered a “birthright” of corporations. The concept is entrenched in legal theory, and it is a fixed reality of the political economy. But it remains controversial. Scholarly debate has been engaged in absolute terms of defending the rule or advocating its abrogation. Though compelling, these polar positions, often expressed in abstract arguments, are associated with disquieting effects. Without limited liability, efficiency may be severely compromised. With it, involuntary tort creditors bear some of the cost of an enterprise. Most other proposals for reforming limited liability have been incremental, such as modifying veil piercing. However, neither absolutism nor …

Szerződésértelmezés Hermeneutika És Jogpolitika Között. A Contra Proferentem Szabály [Contract Interpretation Between Hermeneutics And Policy: The Contra Proferentem Rule], Péter Cserne

Péter Cserne

This paper discusses why contract interpretation is substantially different from the interpretation of literary works and illustrates the argument with the analysis of the contra proferentem rule. It is a substantially revised version of my ‘Policy considerations in contract interpretation: the contra proferentem rule from a comparative law and economics perspective’ (2009)

Testimony On Prostitution Bill, Senate Judiciary Committee, Oct 2009, Donna M. Hughes Dr.

Donna M. Hughes

Testimony For Trafficking Bill, Rhode Island House Judiciary Committee, Oct 2009, Donna M. Hughes Dr.

Donna M. Hughes

Teoria Unificada Da Colusão: Uma Sugestão De Regulação Dos, Ivo T. Gico

Ivo Teixeira Gico Jr.

A legislação concorrencial brasileira caracteriza toda e qualquer forma de abuso do poder econômico como uma infração à ordem econômica. A principal conduta delitiva é a formação de cartel. A maior dificuldade na implementação de uma política pública contrária à cartelização dos mercados é a caracterização jurídica de um acordo entre concorrentes, principalmente, no contexto oligopolístico. Nossa hipótese é a seguinte: se a lei brasileira não exige a presença de um acordo para a caracterização do delito administrativo, deveria ser juridicamente possível condenar a coordenação indevida de ações entre concorrentes mesmo na ausência de acordo. Não obstante, como a colusão …

Protect Our Children, Jenny Meyen, Donna M. Hughes Dr.

Donna M. Hughes

Citizens Confront Officials In Middletown, Melanie Shapiro Esq, Donna M. Hughes Dr.

Donna M. Hughes

A Production Theory Of Pure Economic Loss, Robert J. Rhee

Robert Rhee

Although the pure economic loss rule has been remarkably durable in the common law, it suffers from a theoretical deficit. The rule has not been properly framed within the broader context of Anglo-American political economy. Any theory must recognize that the rule fundamentally deals with business risk and economic organization. Two conceptions of risk are important: risk to economic assets essential to the production function (loss of a factor of production), and risk to outcomes (loss of production). This Article proposes a production theory of the pure economic loss rule, which is rooted in the neoclassical economic understanding of the …

Bonding Limited Liability, Robert J. Rhee

Robert Rhee

Limited liability is considered a “birthright” of corporations. The concept is entrenched in legal theory, and it is a fixed reality of the political economy. But it remains controversial. Scholarly debate has been engaged in absolute terms of defending the rule or advocating its abrogation. Though compelling, these polar positions, often expressed in abstract arguments, are associated with disquieting effects. Without limited liability, efficiency may be severely compromised. With it, involuntary tort creditors bear some of the cost of an enterprise. Most other proposals for reforming limited liability have been incremental, such as modifying veil piercing. However, neither absolutism nor …

Asean & South Asia; Victims & Winners In Textiles & Clothing Trade After Quota Expiry, Umair Ghori

Umair H. Ghori

No abstract provided.

Governor Carcieri Calls For Passage Of Prostitution Bill, Donna M. Hughes Dr.

Donna M. Hughes

Testimony In Support Of "An Act Relating To Criminal Offenses--Prostitution" At Governors Press Conference, Rhode Island, Donna M. Hughes Dr.

Donna M. Hughes

Olavo De Carvalho Sobre Economia De Mercado E Tradição, Lucas Mendes

Lucas Mendes

O presente ensaio pretende discutir o argumento libertário de que a moral deve ser um elemento inerente, senão subjacente, à própria economia livre. Para tanto, traz-se à tona os argumentos de Gertrude Himmelfarb e Olavo de Carvalho para esclarecer o papel fundamental da ética e o porquê de sua prioridade absoluta sobre a ordem de mercado.

An Introduction To Social Choice, Maxwell L. Stearns

Maxwell L. Stearns

Social choice studies the differing implications of the concept of rationality (or transitivity) for individuals versus groups under specified conditions and the significance of these differences in various institutional decision making contexts. This introductory chapter on social choice for the Elgar Handbook on Public Choice (Elgar Publishing Company, Dan Farber and Anne O’Connell, editors), introduces the basic framework of social choice, considers the implications of social choice for various legal and policy contexts, and provides a framework for evaluating a range of normative proposals grounded in social choice for reforming lawmaking institutions. After a brief introduction, part II introduces the …

The Law And Economics Of Cybersecurity: An Introduction, Mark F. Grady, Francesco Parisi

Mark F. Grady

One of the most controversial theoretical issues of our time is the governance of cybersecurity. Computer security experts, national security experts, and policy analysts have all struggled to bring meaningful analysis to cybersecurity; however, the discipline of law & economics has yet to be fully applied to the issue. This introduction presents work by leading national scholars who examine this complex national security challenge from a law and economics perspective. The focus spans from a discussion of pure market solutions to public-private issue analysis, providing a valuable basis for policy considerations concerning the appropriate governmental role on the issue of …

A Comparison Among The Director Networks In The Main Listed Companies In France, Germany, Italy, And The United Kingdom, Paolo Santella, Carlo Drago, Andrea Polo, Enrico Gagliardi

Carlo Drago

The purpose of this paper is to contribute to the literature on director interlocks by illustrating and analysing the interlocking directorships among the Italian, French, German, UK and US listed Blue Chips. The comparison of the five countries considered shows that two national models stand out. On the one hand a model made of a high number of companies linked to each other through a small number of shared directors who serve on several company boards at the time (France, Germany, and Italy). On the other hand, in the UK much fewer companies are connected to each other essentially through …

Bribes Vs. Bombs: An Essay On Coasean Warfare, Gideon Parchomovsky, Peter Siegelman

Peter Siegelman

No abstract provided.

Wilfulness Vs Expectation: A Defense Of Wilful Breach Doctrine, Steve Thel, Peter Siegelman

Peter Siegelman

No abstract provided.

Making Property Productive: Reorganizing Rights To Real And Equitable Estates In Britain, 1660 To 1830, Gary Richardson

Gary Richardson

Between 1660 and 1830, Parliament passed thousands of Acts restructuring rights to real and equitable estates. These estate Acts enabled individuals and families to sell, mortgage, lease, exchange and improve land previously bound by inheritance rules and other legal legacies. The loosening of these legal constraints facilitated the reallocation of land and resources towards higher-value uses. Data reveal correlations between estate Acts, urbanization and economic development during the decades surrounding the Industrial Revolution.

The Return Of The Rogue, Kimberly D. Krawiec

Kimberly D. Krawiec

The rogue trader—a figure that captured public attention in the 1990s— has returned to the spotlight, largely due to two phenomena. First, market volatility stemming from problems in the U.S. mortgage market spilled over into stock, commodity, and derivative markets worldwide, causing large losses at many financial institutions and bringing to light previously hidden unauthorized positions. Second, the rogue trader has returned to prominence due to domestic and international regulatory changes that have forced banks worldwide to focus more attention on operational risk, an important component of which is rogue trading.

Although critics have raised a number of objections to …

Cyber Crimes And Effectiveness Of Laws In India To Control Them, Mubashshir Sarshar

Mubashshir Sarshar

No abstract provided.

The Rising Tide Of Climate Change: What America’S Flood Cities Can Teach Us About Energy Policy And Why We Should Be Worried, Joshua P. Fershee

Joshua P Fershee

To provide a model for assessing the current and likely responses to climate change risks, this Article considers two of America’s worst flood disasters—in Grand Forks, North Dakota, and New Orleans, Louisiana— and applies the same rationale to critical climate change issues facing the nation today. This Article, written by a current resident of Grand Forks and a former New Orleans resident, begins with a background on climate change and related policy initiatives. Next, it considers the flood of 1997 in Grand Forks, which caused more than 50,000 people to abandon their homes. The development of the flood preparations, the …

¿Por Qué Blawgueamos? Breve Análisis Económico De Los Blogs Jurídicos (Blawgs) Y De La Blogósfera, Maximiliano Marzetti

Maximiliano Marzetti

BREVE ANÁLISIS ECONÓMICO DE LOS BLOGS JURÍDICOS (BLAWGS) Y DE LA BLOGÓSFERA.

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

Ryan M. Riegg

A Cost Of Tax Planning, Yoram Margalioth, Eyal Sulganik, Rafael Eldor, Yoseph M. Edrey Prof.

Yoseph M. Edrey

Tax planning is an area of growing interest and this paper is an attempt to contribute to the small formal literature on this topic. The paper analyzes the case of tax planning that manipulates the tax system to impose lower effective tax rates on gains than on losses, and proves that such tax planning may provide firms with an incentive to produce more than the social optimum. This inefficiency is different from the general inefficiency entailed by income taxation, captured by the conventional notion of excess burden. A low asymmetric tax may be more distortive than a high symmetric tax …

Of The World Trade Court's Burden, Sungjoon Cho

Sungjoon Cho

No abstract provided.

Measuring The Efficiency Of Brazilian Courts From 2006 To 2008: What Do The Numbers Tell Us?, Luciana L. Yeung, Paulo F. Azevedo

Luciana L Yeung

This paper uses a linear optimization method called Data Envelopment Analysis (DEA) to measure the efficiency of Brazilian State Courts during the years of 2006 to 2008. Our results show that relative efficiency varies substantially across the states. There is a group of courts that consistently top performs in the sample. On the other hand, there is a group of consistent poor performers, as well a group of average performers. Yet, the biggest problem seems to be with a group of State Courts with very unstable results, which might indicate serious problems in data collection and/or measurement. DEA also shows …

The Attributes Of Transactions And The Limits Of The New Formalism, Adam B. Badawi

Adam B. Badawi

Tributação & Desenvolvimento, Ivo T. Gico

Ivo Teixeira Gico Jr.

Editorial sobre o papel da tributação no desenvolvimento econômico.