Law Commons^™

The Strategic Structure Of Offer And Acceptance: Game Theory And The Law Of Contract Formation, Avery Katz

Michigan Law Review

The purpose of this article is to promote a particular research program; namely, the use of game theory to analyze the law of contract formation. Although I will often simply speak of offer and acceptance in my discussion, I mean to refer to a broader set of issues than are commonly denoted by this doctrinal label. My program transcends the narrow issue of whether particular communications technically should be classified as offers and acceptances, and includes questions often analyzed under the rubrics of implication and interpretation. At its broadest, my argument addresses all legal rules that answer two types of …

The Role Of The Democratic And Republican Parties As Organizers Of Shadow Interest Groups, Jonathan R. Macey

Michigan Law Review

This article advances a new theory to explain the relationship between political parties and interest groups. Among the as yet unanswered questions that I resolve are: (1) why many politicians -both Republicans and Democrats - develop a reputation for "party loyalty" despite the parties' inability to employ any meaningful sanctions against politicians who deviate from the party line; (2) why candidates for public office run in contested primaries when running as an independent generally would be a less costly mechanism for getting on the ballot; (3) why the two major U.S. political parties continue to attract resources from contributors and …

More Lessons From Japan: End Industrywide Collective Bargaining?, Robert H. Lande, Richard O. Zerbe Jr.

All Faculty Scholarship

The number of books and articles discussing Japanese management techniques with an eye to transplanting them to the United States is staggering. Americans understandably are impressed by Japanese efficiency and like to think the adoption of some of their techniques will aid our own industries. Often these proposals seem fanciful and fail to recognize the many differences between the two countries, their economic systems and cultures.

The Law And Economics Of Organ Procurement, Keith N. Hylton

Faculty Scholarship

This paper presents an economic analysis of the organ procurement system in the U.S. and examines proposals to alleviate the shortage of transplantable organs. The paper's principal conclusions are: (1) Although non-market solutions deserve the highest priority, demand increases fueled by improvements in transplant technology will probably make some market-based solution necessary in the future. (2) Quality deterioration and coercion will not necessarily be worrisome problems under a market-based procurement system.

Water Marketing And The Law, Mark Squillace

Moving the West's Water to New Uses: Winners and Losers (Summer Conference, June 6-8)

13 pages.

Legal Devices For Enhancing Water Diversion Opportunities Within The Appropriation System, David C. Hallford

Moving the West's Water to New Uses: Winners and Losers (Summer Conference, June 6-8)

28 pages.

Economic And Social Impacts Of Agriculture-To-Urban Water Transfers: The Arkansas Valley Of Colorado, Charles W. Howe, Jeffrey K. Lazo

Moving the West's Water to New Uses: Winners and Losers (Summer Conference, June 6-8)

20 pages.

Contains 1 page of references.

Evaluating Judicial Capacity To Determine Public Welfare Values In Water Transfers, Charles T. Dumars

Moving the West's Water to New Uses: Winners and Losers (Summer Conference, June 6-8)

31 pages (includes illustrations).

Contains references.

Water Agencies And Water Transfers In California: A Case Study Of The Kern County Water Agency, Brian E. Gray

Moving the West's Water to New Uses: Winners and Losers (Summer Conference, June 6-8)

20 pages.

Contains references.

The Role Of Market Transfers In The Accommodation Of New Uses: A Case Study Of The Truckee-Carson Basin, A. Dan Tarlock

Moving the West's Water to New Uses: Winners and Losers (Summer Conference, June 6-8)

31 pages (includes 1 map).

Urban Water Conservation: The Last Water Hole Or Mostly A Mirage?, Gary C. Woodward

Moving the West's Water to New Uses: Winners and Losers (Summer Conference, June 6-8)

28 pages.

Contains references.

Update On Market Strategies For The Protection Of Western Instream Flows And Wetlands, Robert Wigington

Moving the West's Water to New Uses: Winners and Losers (Summer Conference, June 6-8)

49 pages.

Contains references.

Sources Of Water Iii: Interstate Transfers, Clyde O. Martz

Moving the West's Water to New Uses: Winners and Losers (Summer Conference, June 6-8)

35 pages.

Contains references.

Agenda: Moving The West's Water To New Uses: Winners And Losers, University Of Colorado Boulder. Natural Resources Law Center

Moving the West's Water to New Uses: Winners and Losers (Summer Conference, June 6-8)

Conference organizers and/or faculty included University of Colorado Law School professors Lawrence J. MacDonnell and Mark Squillace.

Moving the West's Water to New Uses: Winners and Losers will be the theme for this year's water conference, June 6-8 at the Law School in Boulder. The conference will consider the changing demands for water in the West and the need to reallocate a portion of the existing uses of water to new uses.

The first day will provide the background by looking at the most likely sources of water to meet these demands, including agriculture, federal water projects, interstate transfers, and …

Groping And Coping In The Shadow Of Murphy's Law: Bankruptcy Theory And The Elementary Economics Of Failure, James W. Bowers

Michigan Law Review

Part I briefly examines the conventional explanation for bankruptcy's defining characteristic, its default distributional rule. It concludes that the conventional explanation is insufficiently informative for us to tell whether the Bankruptcy Code (Code) is actually working or not. Part II argues that the only existing systematic attempt to explain bankruptcy law, the so-called "Creditors' Bargain" Theory, is inadequate for two reasons. First, the predictions it generates are belied by real-world events. Second, it is mistaken on theoretical grounds, primarily because it ignores how debtors are likely to manage their assets. Part III presents the Murphian theory of failing behavior, the …

The Limits Of Social Policy, Cary Coglianese

All Faculty Scholarship

No abstract provided.

Can Rights Move Left?, Jeremy Paul

Michigan Law Review

A Review of The Right to Private Property by Jeremy Waldron

The Law's Secrets, Gary T. Marx

Michigan Law Review

A Review of Legal Secrets: Equality and Efficiency in the Common Law by Kim Lane Scheppele

Economic Sanctions: A Look Back And A Look Ahead, Andreas F. Lowenfeld

Michigan Law Review

A Review of International Economic Sanctions by Barry E. Carter

Can Ignorance Be Bliss? Imperfect Information As A Positive Influence In Political Institutions, Michael A. Fitts

Michigan Law Review

In Parts I and II, I shall summarize the law-and-economics and civic virtue perspectives on the value of political information and their proposals for reforms in the political process that would stimulate greater political information. These two literatures are often viewed as distinct in their objectives: one seeking to improve means/ends rationality; the other seeking to improve goal formation - a function that I loosely describe as normative, ethical, or value-based. Nevertheless, they share some common practical approaches where information is concerned. In Part Ill, I shall discuss the instrumental advantages to limiting political information, focusing particularly on the role …

Can Ignorance Be Bliss? Imperfect Information As A Positive Influence In Political Insitutions, Michael A. Fitts

All Faculty Scholarship

No abstract provided.

The Second Generation Of Notes Indexed For Inflation, Michael S. Knoll

All Faculty Scholarship

No abstract provided.

Social Irresponsibility, Actuarial Assumptions, And Wealth Redistribution: Lessons About Public Policy From A Prepaid Tuition Program, Jeffrey S. Lehman

Michigan Law Review

In this article, I shall try to illuminate the question of how governments, as opposed to private insurers, grapple with the problem of intergenerational social irresponsibility. I shall do so by analyzing and criticizing a single public program. That program, the Michigan Education Trust (MET), was the most widely publicized government action in the field of higher education finance during the 1980s. MET allows parents of young children to purchase contracts promising to cover the children's tuition at Michigan public colleges when they enroll up to eighteen years later.

In setting forth this case study, I also attempt to develop …

The Efficient Consumer Form Contract: Law And Economics Meet The Real World, Michael I. Meyerson

All Faculty Scholarship

"Law and economics" has been hailed by its supporters as the only intellectually valid means for analyzing legal issues. Its critics have dismissed law and economics as amoral and biased against the poor. Ironically, each side in this frequently acrimonious debate has much to offer those in the opposing camp. This Article reflects a modest attempt to bridge the chasm.

One need not believe that money is everything in order to believe that the effect a given legal rule has on total societal wealth is relevant in decisionmaking. But this admission does not consign one to a legal world where …

The Corporate Entity In An Era Of Multinational Corporations, Phillip Blumberg

Faculty Articles and Papers

No abstract provided.

Insurance And The Limits Of Rational Discrimination, Martin J. Katz

Sturm College of Law: Faculty Scholarship

As the state of the insurance industry indicates, policy makers and academics have reached little consensus about how to address the implications of rational discrimination. This Current Topic argues that rational discrimination should not be viewed simply as a question of profitability or financial interests, but must also be approached from a moral perspective. Part One examines the underlying cause of rational discrimination in one particular insurance market,' locating its ultimate source in the historical injustices perpetrated against Blacks. This section condemns rational discrimination for perpetuating and even exacerbating social inequalities. The analysis suggests that our society will not fully …

Cláusulas De Indexación En Letras De Cambio Y Pagarés: Su Invalidez, Martin Paolantonio, Salvador Bergel

Martin Paolantonio

Análisis y conclusiones sobre la viabilidad de inclusión de cláusulas de ajuste o indexación en letras de cambio y pagarés, a la luz del decreto-ley 5965/63

El Aval En El Cheque Después De La Ley 23.549, Martin Paolantonio, Eduardo Moccero

Martin Paolantonio

Análisis de la viabilidad del aval en el cheque, previo a la admisibilidad expresa de esta garantía por la ley 24.452, anotando un fallo de la Cámara Nacional en lo Comercial favorable a esa alternativa.

La Responsabilidad Emergente Del Desvío Del Interés Social De Una Sociedad A Otra U Otras Del Grupo, Martin Paolantonio, Salvador Bergel

Martin Paolantonio

Se ensaya una tipología de supuestos y consecuencias ante el desvío del interés social por una sociedad parte de un grupo económico

Las Costas En La Quiebra Sin Acreedores, Martin Paolantonio, Eduardo Moccero

Martin Paolantonio

Nota a fallo sobre la imposición de costas en la quiebra que finaliza por ausencia de acreedores