Law Commons^™

Fama, La Hipótesis De Los Mercados Eficientes Y Behavioral Finance: ¿Un Vistazo A Una Relación?, Renzo E. Saavedra Velazco

Renzo E. Saavedra Velazco

En la teoría financiera el nombre de Eugene Fama es casi el sinónimo de mercados eficientes. En virtud a esta teoría se propugna que el precio de las acciones incorpora la mejor y más completa información que se tiene disponible acerca de la empresa y el mercado en general. Por esta razón los inversionistas no pueden ganarle al mercado de manera sistemática. Sin embargo, algunos académicos intentan no sólo cuestionar la premisa de esta teoría sino sus conclusiones a través del empleo de hallazgos de las ciencias conductuales.

The Wto And The Anti-Corruption Movement, Padideh Ala'i

Padideh Ala'i

This article explores the role of the World Trade Organization (WTO) in promoting good governance while placing WTO within the larger framework of the ongoing global anti-corruption movement. Governmental policies aimed at fighting corruption are part of the good governance criteria set forth by the World Bank and other donor agencies. An important element of good governance is transparency, which has also been one of the pillars of the multilateral trading system. This article argues that from the perspective of the post-Cold War anti-corruption movement, the WTO is an important institution because it provides a comparatively successful forum for the …

Panelist, Corporate Political Speech And Dueling Conceptions Of The Corporation In Supreme Court Jurisprudence, Kent Greenfield

Kent Greenfield

As chair of the Section on Business Organizations for AALS, I organized and moderated the 2011 Program of AALS Section on Business Associations, January 7, 2011, San Francisco, CA. Program was entitled “Corporate Political Speech and Dueling Conceptions of the Corporation in Supreme Court Jurisprudence,” and was co-sponsored by the Section on Constitutional Law. This was the first time in memory that the Business Associations Section and the Constitutional Law Section had co-sponsored a program.

Regional Safeguard Measures: An Incentive To Sign Regional Trade Agreements Without Taking Into Consideration The Special Needs For Developing Countries, Elenor Lissel

Elenor Lissel

No abstract provided.

The Myth Of Choice: Personal Responsibility In A World Of Limits, Kent Greenfield

Kent Greenfield

Americans are fixated on the idea of choice. Our political theory is based on the consent of the governed. Our legal system is built upon the argument that people freely make choices and bear responsibility for them. And what slogan could better express the heart of our consumer culture than "Have it your way"?

In this provocative book, Kent Greenfield poses unsettling questions about the choices we make. What if they are more constrained and limited than we like to think? If we have less free will than we realize, what are the implications for us as individuals and for …

Initiatives On Ip Enforcement Beyond Trips: The Anti-Counterfeiting Trade Agreement And The International Medical Products Anti-Counterfeiting Task Force, Christoph Antons, Gabriel Garcia

Dr Gabriel Garcia

No abstract provided.

Technology & Torts: A Theory Of Memory Costs, Nondurable Precautions And Interference Effects, Ben Depoorter

Ben Depoorter

This Article examines the influence of nondurable precaution technologies on the expansion of tort awards. We provide four contributions to the literature. First, we present a general, formal model on durable and non-durable precaution technology that focuses on memory costs. Second, because liability exposure creates interference, we argue that tort law perpetuates the expansion of awards. Third, because plaintiffs do not consider the social costs of interference effects, private litigation induces socially excessive suits. Fourth, while new harm-reducing technologies likely increase accident rates, such technologies also raise the ratio of trial costs to harm, leaving undetermined the overall effect of …

Foreign Citizens In Transnational Class Actions, Jay Tidmarsh, Linda Sandstrom Simard

Jay Tidmarsh

This Article addresses an increasingly important question: When, if ever, should foreign citizens be included as members of an American class action? The existing consensus holds that courts should exclude from class membership those foreign citizens whose country does not recognize an American class judgment. Our analysis begins by establishing that this consensus is flawed. Rather, to minimize the costs associated with relitigation in a foreign forum, we must distinguish between foreign claimants who are likely to commence a subsequent foreign proceeding from those who are unlikely to do so; distinguishing between those who come from recognizing and nonrecognizing countries …

Judicial Expenditures And Litigation Access: Evidence From Auto Injuries, Paul Heaton, Eric Helland

Paul Heaton

Despite claims of a judicial funding crisis, there exists little direct evidence linking judicial budgets to court utilization. Using data on thousands of auto injuries covering a 15-year period, we measure the relationship between state-level court expenditures and the propensity of injured parties to pursue litigation. Controlling for state and plaintiff characteristics and accounting for the potential endogeneity of expenditures, we show that expenditures increase litigation access, with our preferred estimates indicating that a 10% budget increase increases litigation rates by 3%. Consistent with litigation models in which high litigation costs undermine the threat posture of plaintiffs, increases in court …

El Ejercicio Y La Prescripción De Las Acciones Cambiarias, David García

David García

No abstract provided.

Chapter 1: The Importance Of Law In Promoting Innovation And Growth, Robert D. Cooter, Aaron Edlin, Robert Litan, George Priest

Robert Cooter

No abstract provided.

Costos Sin Beneficios. Artículo 5 Bis De La Ley 11.723, Maximiliano Marzetti

Maximiliano Marzetti

La incorporación del artículo 5 bis a la ley 11.723 representa una pérdida neta de bienestar social. Se trata de una norma ineficiente y por lo tanto innecesaria. La reforma tendría que haberse evitado. Su único efecto es una transferencia de riqueza (sin ninguna justificación válida) de parte de los consumidores argentinos hacia los productores de fonogramas y agencias de gestión colectiva.

Corrupção E Judiciário: A (In)Eficácia Do Sistema Judicial No Combate À Corrupção, Ivo T. Gico Jr., Carlos H. R. De Alencar

Ivo Teixeira Gico Jr.

HÁ UMA PERCEPÇÃO GENERALIZADA NO BRASIL DE QUE FUNCIONÁRIOS PÚBLICOS CORRUPTOS NÃO SÃO PUNIDOS. NÃO OBSTANTE, ATÉ O MOMENTO, NÃO HÁ EVIDÊNCIAS EMPÍRICAS QUE APÓIEM ESSA AFIRMAÇÃO E MUITOS ARGUMENTAM QUE SE TRATA DE UMA PERCEPÇÃO EQUIVOCADA DECORRENTE DO AUMENTO DE MEDIDAS ANTICORRUPÇÃO. UMA DAS PRINCIPAIS RAZÕES PARA ESSA NOTÁVEL AUSÊNCIA É A GRANDE DIFICULDADE DE SE IDENTIFICAR CASOS COMPROVADOS DE CORRUPÇÃO PARA, ENTÃO, SE AVERIGUAR SE ELES FORAM OU NÃO PUNIDOS PELO SISTEMA JUDICIAL. ESTE ARTIGO USA O SISTEMA BRASILEIRO DE RESPONSABILIDADE TRÍPLICE COMO UM EXPERIMENTO NATURAL PARA MEDIR O DESEMPENHO DO SISTEMA JUDICIAL CONTRA CORRUPÇÃO. NOSSOS RESULTADOS MOSTRAM …

Chapter 1: The Importance Of Law In Promoting Innovation And Growth, Robert D. Cooter, Aaron Edlin, Robert Litan, George Priest

Aaron Edlin

No abstract provided.

O Estatuto Jurídico Do Económico, Victor J. Calvete

Victor J. Calvete

Ordo-liberalism seems the perfect excuse for European antitrust decisions being different from American ones. (In fact, nowadays Ordo-liberalism seems to be a perfect excuse for a growing number of things.) Within the alloted space (20 single pages) I tried to warn against such an easy way out – and failed (in the end there were 21). First of all, under the umbrella of Ordo-liberalism, the so called “Freiburg School” (Walter Eucken, Franz Bohm, Grossmann-Doerth, ...) goes hand in hand with the quite different “Social Market Economy” (Alfred Muller-Armack, Ludwig Erhard, ...), and with several conceptions of Authors not so socially …

On Equality: The Anti-Interference Principle, Donald J. Kochan

Donald J. Kochan

This Essay introduces the “Anti-Interference Principle” – a new term on the meaning of equality, or at least one not yet so-named in the equality lexicon – as a necessary foundation for achieving the goal of true equality. Equality has a long-standing place in the discussion of politics and jurisprudence and remains a struggle of definition today. Rather than rehash the mass of scholarship, this Essay seeks to summarize the general equality concept, and propose that the legal discourse on equality center on a requirement that governmental power must protect and respect equal treatment and opportunity, unconstrained, not equal outcomes. …

Duress, Péter Cserne

Péter Cserne

This chapter is to appear in Contact Law and Economics, part of the Elgar Encyclopedia of Law and Economics, 2nd ed. Its purpose is to provide an overview of the economic analyses of contractual duress. The focus is on the distinctive features of the economic perspective on the duress doctrine, as developed in the theoretical literature of law and economics. Along with the results of economic analysis, the legal background and some non-economic theories of duress are also briefly presented.

Rethinking The Indefinite Detention Of Sex Offenders, Fredrick E. Vars

Fredrick E Vars

Thousands of sex offenders in the United States are being held indefinitely under civil commitment programs. The analysis in this Article suggests that none (or precious few) belong there. Specifically, in a large dataset, an instrument as good as the one most widely used by experts (the “Static-99”) could not identify even one sex offender who met the legal standards for commitment. Supplementing such instruments with additional information appears not to improve matters, so the failure of the instrument is profoundly disturbing. There are three possible responses: (1) improve instruments to meet existing standards; (2) lower the standards; and (3) …