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Law and Economics

1992

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Full-Text Articles in Law

Norms Of Pride And Resistance: Psychology, Virtue, And The Blackmail Puzzle - Draft - 12-31-1992, Wendy J. Gordon Dec 1992

Norms Of Pride And Resistance: Psychology, Virtue, And The Blackmail Puzzle - Draft - 12-31-1992, Wendy J. Gordon

Scholarship Chronologically

Blackmail law can impact on the belief structures (moralisms) and behaviors of both the potential criminal and the potential victim; it also can affect the conceptual and value structures of lawyers and other societal onlookers. These issues surrounding what one might call the "symbolic" virtues of outlawing the act of blackmail may help to explain why blackmail law seems relatively unconcerned with the well-being of the victim.


A Bargaining Analysis Of American Labor Law And The Search For Bargaining Equity And Industrial Peace, Kenneth G. Dau-Schmidt Dec 1992

A Bargaining Analysis Of American Labor Law And The Search For Bargaining Equity And Industrial Peace, Kenneth G. Dau-Schmidt

Michigan Law Review

In this article, I present an alternative economic analysis of unions and collective bargaining that utilizes recent advances in labor economics and some simple applications of game theory to address the deficiencies of the traditional monopoly model.

The article proceeds in four parts. In Part I, I provide a brief primer on the economic analysis of unions and collective bargaining. I discuss the various possible sources of union wage increases, possible employer responses to union wage demands, and alternative models of the costs of collective bargaining. In Part II, I outline the traditional monopoly theory of unions by combining the …


Keiretsu: Their Effect On Business And How American Government And Business Can Confront Them, Jonathan E. Johnson Iii Nov 1992

Keiretsu: Their Effect On Business And How American Government And Business Can Confront Them, Jonathan E. Johnson Iii

BYU Law Review

No abstract provided.


The Economics And Politics Of Emergency Health Care For The Poor: The Patient Dumping Dilemma, Maria O'Brien Hylton Nov 1992

The Economics And Politics Of Emergency Health Care For The Poor: The Patient Dumping Dilemma, Maria O'Brien Hylton

BYU Law Review

No abstract provided.


Books Received, Law Review Staff Oct 1992

Books Received, Law Review Staff

Vanderbilt Journal of Transnational Law

SYSTEMS OF CONTROL IN INTERNATIONAL ADJUDICATION AND ARBITRATION

By W. Michael Reisman

Durham and London: Duke University Press, 1992. Pp. 174.

LEGISLATIVE RESPONSES TO TOBACCO USE

By World Health Organization Dordrecht, The Netherlands: Martinus Nijhoff Publishers, 1991.Pp. 226.

IMPORT AND CUSTOMS LAW HANDBOOK

By Michael J. Horton

New York, New York: Quorom Books, 1992. Pp. 308. $55.00.

THE LAW AND ECONOMIC DEVELOPMENT IN THE THIRD WORLD

Edited by P. Ebow Bondzi-Simpson

New York, New York: Praeger Publishers 1992. Pp. 200. $49.95.


The Gains From Faith In An Unfaithful Agent: Settlement Conflicts Between Defendants And Liability Insurers, Michael J. Meurer Oct 1992

The Gains From Faith In An Unfaithful Agent: Settlement Conflicts Between Defendants And Liability Insurers, Michael J. Meurer

Faculty Scholarship

A pervasive problem in the settlement of liability litigation arises because liability insurers bundle their promise to indemnify the insured with a promise to represent the insured in settlement and litigation [see, e.g., Beckwith Machinery Co. v. Travelers Indemnity Co., 638 F.Supp. 1179 (W.D. Pa. 1986)]. Standard policies not only require the insurer to pay for legal representation but, more importantly, give the insurer the privilege of controlling the litigation and settlement process. The problem is how to resolve the conflict of interest between the insurer and the insured that may arise during settlement negotiations. This conflict is manifest when …


Judicial Choice And Disparities Between Measures Of Economic Values, David Cohen, Jack L. Knetsch Jul 1992

Judicial Choice And Disparities Between Measures Of Economic Values, David Cohen, Jack L. Knetsch

Osgoode Hall Law Journal

An important idea, which characterizes law in society, is a reluctance to move from the status quo. In general, one can argue that legal institutions and legal doctrine are not engaged in the redistribution of wealth from one party to another. This paper explores a possible explanation for that principle. The authors' research suggests that, across a wide range of entitlements and in a variety of contexts, individuals value losses more than foregone gains. The paper argues, as a matter of efficiency, that law and social policy might have developed in a manner consistent with this valuation disparity. Furthermore, this …


Three Attorney Fee-Shifting Rules And Contingency Fees: Their Impact On Settlement Incentives, Bradley L. Smith Jun 1992

Three Attorney Fee-Shifting Rules And Contingency Fees: Their Impact On Settlement Incentives, Bradley L. Smith

Michigan Law Review

This Note seeks to predict the direction and magnitude of the change in settlement frequency under the three fee-shifting rules: American, British, and the British rule as modified by the PCC. Part I analyzes the proposed rule using the theoretical model of litigation and settlement developed by Hause. Part II examines the impact of fee-shifting when the plaintiff's lawyer receives reimbursement via a contingency fee. Analysis of indemnification in a contingency fee context raises several policy issues which section II.A addresses. Section II.B discusses the terms and assumptions made in adjusting Hause's model to reflect the standard contingency fee arrangement, …


African Economic Community And The Promotion Of Intra-African Trade, Muna Ndulo May 1992

African Economic Community And The Promotion Of Intra-African Trade, Muna Ndulo

Cornell Law Faculty Publications

No abstract provided.


Law And Public Choice: A Critical Introduction, William Dubinsky May 1992

Law And Public Choice: A Critical Introduction, William Dubinsky

Michigan Law Review

A Review of Law and Public Choice: A Critical Introduction by Daniel A. Farber and Philip P. Frickey


Scholarship Of The Absurd: Bob Bork Meets The Bald Soprano, Alex Kozinski May 1992

Scholarship Of The Absurd: Bob Bork Meets The Bald Soprano, Alex Kozinski

Michigan Law Review

A Review of Antitrust Economics on Trial: A Dialogue on the New Laissez-Faire by Walter Adams and James W. Brock


A Law & Economics Perspective On A "Traditional" Torts Case: Insights For Classroom And Courtroom, Robert H. Lande Apr 1992

A Law & Economics Perspective On A "Traditional" Torts Case: Insights For Classroom And Courtroom, Robert H. Lande

All Faculty Scholarship

This article is from a symposium, "Five Approaches to Legal Reasoning in the Classroom: Contrasting Perspectives on O'Brien v. Cunard S.S. Co. Ltd.," 57 Missouri L. Rev. 345 (1992). The symposium contains five articles that analyze this case from, respectively, traditionalist, Law & Economics, Critical Legal Studies, Feminist, and Critical Race Theories perspectives.

This article analyzes the O'Brien case from a Law & Economics perspective. It does so in a manner suitable for presentation in a Torts class or a Law & Economics class. It explains the basic terminology and approach. It analyzes the economics underlying the vaccination requirement, whether …


Corporate Law Through An Antitrust Lens, Edward B. Rock Apr 1992

Corporate Law Through An Antitrust Lens, Edward B. Rock

All Faculty Scholarship

No abstract provided.


Legal Services: Has It Succeeded?, Alan W. Houseman Mar 1992

Legal Services: Has It Succeeded?, Alan W. Houseman

University of the District of Columbia Law Review

No abstract provided.


Tax Expenditure Budgets: A Critical View, Jeffrey S. Lehman, Douglas A. Kahn Mar 1992

Tax Expenditure Budgets: A Critical View, Jeffrey S. Lehman, Douglas A. Kahn

Cornell Law Faculty Publications

No abstract provided.


Regulating Public Pension Fund Investment: The Role Of Federal Legislation, Sharon Reece, Richard Morrissey, Mary Beth Navin Mar 1992

Regulating Public Pension Fund Investment: The Role Of Federal Legislation, Sharon Reece, Richard Morrissey, Mary Beth Navin

Brigham Young University Journal of Public Law

No abstract provided.


Institutional Reform In Eastern Europe: Evolution Or Design?, Roman Frydman, Andrzej Rapaczynski Mar 1992

Institutional Reform In Eastern Europe: Evolution Or Design?, Roman Frydman, Andrzej Rapaczynski

BYU Law Review

No abstract provided.


A Study After Cardozo: De Cicco V. Schweizer, Noncooperative Games, And Neural Computing, Robert Birmingham Jan 1992

A Study After Cardozo: De Cicco V. Schweizer, Noncooperative Games, And Neural Computing, Robert Birmingham

Faculty Articles and Papers

No abstract provided.


Airlines, Airports And Antitrust: A Proposed Strategy For Enhanced Competition, Robert M. Hardaway, Paul Stephen Dempsey Jan 1992

Airlines, Airports And Antitrust: A Proposed Strategy For Enhanced Competition, Robert M. Hardaway, Paul Stephen Dempsey

Sturm College of Law: Faculty Scholarship

Most of this country's major airports are monopolies or duopolies at which one or two dominant carriers control a high percentage of terminal facilities. Airlines have used this market power to raise fares on flights originating and terminating at such airports. Although this power has been gained in part through the process of buy-outs and mergers in the airline industry itself, it has also been gained through actions taken in concert with airport authorities, such as when agreements are entered into that effectively limit the availability of airport facilities to new entrants and other competitors. Airlines, by virtue of rights …


Aviation Law And Regulation, Robert M. Hardaway, Paul Stephen Dempsey, William E. Thoms Jan 1992

Aviation Law And Regulation, Robert M. Hardaway, Paul Stephen Dempsey, William E. Thoms

Sturm College of Law: Faculty Scholarship

We sought to write a comprehensive reference book for aviation lawyers and practitioners, and airline and aircraft manufactuing executives in need of vital information regarding law and government regulation in the field of commercial and general aviation. We envision this book as an aid for the neophyte and experienced practitioner alike.


Market Power In Antitrust, George A. Hay Jan 1992

Market Power In Antitrust, George A. Hay

Cornell Law Faculty Publications

The concept of market power is at the core of antitrust. Philosophically, antitrust policy is aimed primarily at preventing firms from achieving, retaining, or abusing market power. Operationally, assessing whether a firm or firms have market power or any reasonable prospect for achieving it is often the first (and sometimes, the only) step in performing an antitrust analysis.

Few would dispute that market power should play a prominent role in antitrust analysis. Nevertheless, important questions remain. Some of these questions quite naturally focus on the precise degree of importance given to market power. Is it an essential ingredient in antitrust …


La Enseñanza De La Ética A Los Abogados, Horacio M. Lynch Jan 1992

La Enseñanza De La Ética A Los Abogados, Horacio M. Lynch

Horacio M. LYNCH

No abstract provided.


From Libertarianism To Egalitarianism, Justin Schwartz Jan 1992

From Libertarianism To Egalitarianism, Justin Schwartz

Justin Schwartz

A standard natural rights argument for libertarianism is based on the labor theory of property: the idea that I own my self and my labor, and so if I "mix" my own labor with something previously unowned or to which I have a have a right, I come to own the thing with which I have mixed by labor. This initially intuitively attractive idea is at the basis of the theories of property and the role of government of John Locke and Robert Nozick. Locke saw and Nozick agreed that fairness to others requires a proviso: that I leave "enough …


Algunas Reflexiones Sobre La Protección Penal De Cheque, Martin Paolantonio Jan 1992

Algunas Reflexiones Sobre La Protección Penal De Cheque, Martin Paolantonio

Martin Paolantonio

Nota a fallo con consideraciones sobre el alcance de la tutela penal del cheque y el delito de libramiento de cheque sin provisión de fondos


Anotaciones Sobre El Nuevo Régimen Legal De Factura Conformada (Ley 24.064), Martin Paolantonio, Salvador Bergel Jan 1992

Anotaciones Sobre El Nuevo Régimen Legal De Factura Conformada (Ley 24.064), Martin Paolantonio, Salvador Bergel

Martin Paolantonio

Análisis de los aspectos principales de la ley 24.064 que incorporó una nueva normativa para la factura conformada


La Eficacia Del Derecho Internacional Frente A La Cuestión Ambiental, Martin Paolantonio Jan 1992

La Eficacia Del Derecho Internacional Frente A La Cuestión Ambiental, Martin Paolantonio

Martin Paolantonio

Se subraya la necesidad de un consenso real en el plano internacional para que el derecho ambiental deje de ser primariamente declarativo


Book Review, Hugh H. Gibbons Jan 1992

Book Review, Hugh H. Gibbons

RISK: Health, Safety & Environment (1990-2002)

Reviews of the following books: K. S. SHRADER-FRECHETTE, Risk AND RATIONALITY (U. California Press 1991) [312 pp.] Index of Names, Index of Subjects, Notes. CIP 91-3294; ISBN 0-520-07287-1 (Cloth $39.95); ISBN 0-520-07289-8 (Pbk. $15.95). [2120 Berkeley Way, Berkeley, CA 94720.] W. KIP VisCusi, REFORMING PRODUCTS LIABILITY (Harvard U. Press 1991). [270 pp.] Appendices, bibliography, index, notes. CIP 90-23161, ISBN 0-674-75323-2 (Cloth $39.95). [79 Garden Street Cambridge, MA 02138.]


Post-Revolutionary Law And Economics:A Foreword To The Symposium, Anthony D'Amato Jan 1992

Post-Revolutionary Law And Economics:A Foreword To The Symposium, Anthony D'Amato

Faculty Working Papers

The Lanec (short for Law and Economics) movement of the 1970s hit the legal landscape like a nuclear device and permanently irradiated it. A couple of decades later, as we sift through the fallout, we are entitled to ask whether anything fundamental has changed. Every contributor to this Symposium seems to answer yes. Maybe they're like the book reviewer who believes deep in her heart that the book is worthless, but if she reveals it the editor will conclude that there is no point in printing her review. Let me put my own biases on the table. In general I …


Economics And The Environment: Trading Debt And Technology For Nature, Catherine O'Neill, Cass R. Sunstein Jan 1992

Economics And The Environment: Trading Debt And Technology For Nature, Catherine O'Neill, Cass R. Sunstein

Faculty Articles

In this article, Professor O’Neill and Professor Sunstein first explore and suggest improvements in current debt-for-nature swaps, with the ultimate aim of defending the use of economic incentives and Paretian principles in the context of international environmental policy. Second, they examine some of the limitations of the exchange of debt for nature, and thus suggest an alternative exchange that overcomes those limitations. The exchange they envision is quite simple. Developed nations would transfer to developing nations environmentally advanced technologies, particularly technologies designed to increase efficient energy use or to replace non-renewable sources with renewable sources of energy. In return, developing …


Opting In And Out Of Fiduciary Duties In Cooperative Ventures: Refining The So-Called Coasean Contract Theory, Charles O'Kelley Jan 1992

Opting In And Out Of Fiduciary Duties In Cooperative Ventures: Refining The So-Called Coasean Contract Theory, Charles O'Kelley

Faculty Articles

Professor O’Kelley comments on a familiar problem in the law of closely held business associations - the alleged exploitation of weaker or minority investors by stronger or majority participants. The fact pattern is simple. At the outset of the cooperative venture, a stronger participant assumes the role of proprietor, partner, or majority shareholder, while the weaker participant assumes the role of agent, partner, or minority shareholder. For whatever reason, the venturers do not explicitly guarantee or protect the weaker participant’s right to income or continued participation in the venture. Consequently, at some later date the stronger participant reduces or eliminates …