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Articles 1 - 30 of 76
Full-Text Articles in Law
Megafirms, Randall S. Thomas, Stewart J. Schwab, Robert G. Hansen
Megafirms, Randall S. Thomas, Stewart J. Schwab, Robert G. Hansen
Cornell Law Faculty Publications
This Article documents and explains the amazing growth of the largest firms in law, accounting, and investment banking. Scholars to date have used various supply-side theories to explain this growth, and have generally examined only one industry at a time. This Article emphasizes a demand-side explanation of firm growth and shows how the explanation is similar for firms in all "project" industries. Legal regulation also plays an important role in determining industry structure. Among the areas covered in this Article are the growth of Multidisciplinary Practice firms (MDPs). MDP growth can best be understood by looking more broadly at the …
The Economic Analysis Of Evidence Law: Common Sense On Stilts, Richard O. Lempert
The Economic Analysis Of Evidence Law: Common Sense On Stilts, Richard O. Lempert
Articles
There was a time when the empire of Law was not overrun by economists. The economists had their own fiefdoms to be sure-there was the Duchy of Antitrust and the Kingdom of Regulatory Law-but the economists lived in peace within these borders, welcoming many unlike themselves into their midst, only gently proselytizing their students in the first few classes of a term, and swearing fealty to the law. It is true that a few marauders from beyond the borders saw the wealth of the empire and sought to colonize it, but even the most daring, Archbishop Coase and Duke Gary …
Property Rights And Liability Rules: The Ex Ante View Of The Cathedral, Lucian Arye Bebchuk
Property Rights And Liability Rules: The Ex Ante View Of The Cathedral, Lucian Arye Bebchuk
Michigan Law Review
This Article aims to contribute to the study of how the law should allocate and protect entitlements in the presence of externalities. In their classic article published thirty years ago, Calabresi and Melamed studied such questions and offered what they labeled "one view of the Cathedral." I seek to add to the inquiry started by Calabresi and Melamed by offering an ex ante perspective and analyzing how allocations of entitlements affect parties' ex ante actions and investments. Suppose that an upstream Factory would benefit from an activity that would pollute a river and harm an activity conducted by a downstream …
Cooperación: ¿Puede La Política Impulsar El Desarrollo?, Enrique Barros Bourie
Cooperación: ¿Puede La Política Impulsar El Desarrollo?, Enrique Barros Bourie
Enrique Barros Bourie
No abstract provided.
Ultra Vires Lives! A Stakeholder Analysis Of Corporate Illegality (With Notes On How Corporate Law Could Reinforce International Law Norms), Kent Greenfield
Ultra Vires Lives! A Stakeholder Analysis Of Corporate Illegality (With Notes On How Corporate Law Could Reinforce International Law Norms), Kent Greenfield
Kent Greenfield
This paper argues that a remaining vestige of the ultra vires doctrine sets off illegal activities as "beyond the power" of corporations. Though largely unnoticed and unexamined until now, this part of the doctrine has been retained because none of the important corporate stakeholders has an interest in authorizing the corporation and its managers to commit illegal acts. From an ex ante perspective, the principal stakeholders in the corporate contract would want the corporation and its management to forego illegalities as a way to increase the value of the firm. Any of the stakeholders would be a potential victim of …
Nonlegal Regulation Of The Legal Profession: Social Norms In Professional Communities, W. Bradley Wendel
Nonlegal Regulation Of The Legal Profession: Social Norms In Professional Communities, W. Bradley Wendel
Cornell Law Faculty Publications
What should be done about lawyers who persist in violating ethical norms that are not embodied in positive disciplinary rules? That question has been a recurrent theme in recent legal ethics scholarship. One response has been to propose, experiment, amend, tinker, draft, comment, and redraft, in an attempt to codify the standard of conduct observed to be flouted widely by the practicing bar. Bar associations and courts are seemingly engaged in a never-ending process of promulgating new codes of professional conduct or rules of procedure under which lawyers may be sanctioned for such conduct as bringing frivolous lawsuits, abusing the …
Optimal Delegation And Decoupling In The Design Of Liability Rules, Ian M. Ayres, Paul M. Goldbart
Optimal Delegation And Decoupling In The Design Of Liability Rules, Ian M. Ayres, Paul M. Goldbart
Michigan Law Review
Calabresi and Melamed began a scholarly revolution by showing that legal entitlements have two readily distinguishable forms of protection: property rules and liability rules. These two archetypal forms protect an entitlement holder's interest in markedly different ways - via deterrence or compensation. Property rules protect entitlements by trying to deter others from taking. Liability rules, on the other hand, protect entitlements not by deterring but by trying to compensate the victim of nonconsensual takings. Accordingly, the compensatory impetus behind liability rules focuses on the takee's welfare - making sure the sanction is sufficient to compensate the takee. The deterrent impetus …
You Get What You Pay For: Result-Based Compensation For Health Care, David A. Hyman, Charles Silver
You Get What You Pay For: Result-Based Compensation For Health Care, David A. Hyman, Charles Silver
Washington and Lee Law Review
No abstract provided.
Hybrid Organizations And The Alignment Of Interests: The Case Of Fannie Mae And Freddie Mac, Jonathan G.S. Koppell
Hybrid Organizations And The Alignment Of Interests: The Case Of Fannie Mae And Freddie Mac, Jonathan G.S. Koppell
Publications from President Jonathan G.S. Koppell
This article explores the political influence of government-sponsored enterprises (GSEs). Using Congress's overhaul of the regulatory infrastructure for Fannie Mae and Freddie Mac as a case study, the article presents two principal findings: (1) The characteristics that distinguish government-sponsored enterprises from traditional government agencies and private companies endow Fannie Mae and Freddie Mac with unique political resources; and (2) the alignment of interest groups around Fannie Mae and Freddie Mac is subject to strategic manipulation by the GSEs. A triangular model of this alignment is proposed and employed to analyze the legislative outcome. The case has implications for students of …
Tainted Prosecution Of Tainted Claims: The Law, Economics, And Ethics Of Fighting Medical Fraud Under The Civil False Claims Act, Dayna Bowen Matthew
Tainted Prosecution Of Tainted Claims: The Law, Economics, And Ethics Of Fighting Medical Fraud Under The Civil False Claims Act, Dayna Bowen Matthew
Indiana Law Journal
No abstract provided.
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.
Deterrence: The Legitimate Function Of The Public Tort, Thomas C. Galligan, Jr.
Deterrence: The Legitimate Function Of The Public Tort, Thomas C. Galligan, Jr.
Washington and Lee Law Review
No abstract provided.
Cost-Benefit Default Principles, Cass R. Sunstein
Cost-Benefit Default Principles, Cass R. Sunstein
Michigan Law Review
Courts should be reluctant to apply the literal terms of a statute to mandate pointless expenditures of effort. . .. Unless Congress has been extraordinarily rigid, there is likely a basis for an implication of de minimis authority to provide exemption when the burdens of regulation yield a gain of trivial or no value. It seems bizarre that a statute intended to improve human health would .. . lock the agency into looking at only one half of a substance's health effects in determining the maximum level for that substance. [I]t is only where there is "clear congressional intent to …
Constitution-Making In Africa: Assessing Both The Process And The Content, Muna Ndulo
Constitution-Making In Africa: Assessing Both The Process And The Content, Muna Ndulo
Cornell Law Faculty Publications
No abstract provided.
Understanding Sprawl: Lessons From Architecture For Legal Scholars, Mark S. Davies
Understanding Sprawl: Lessons From Architecture For Legal Scholars, Mark S. Davies
Michigan Law Review
What is suburban "sprawl"? Why is it undesirable? Why do many Americans nevertheless choose to live in sprawl? Do local zoning laws contribute to sprawl? Can democratic institutions discourage it? Legal scholars are beginning to study these urgent and complex questions. This Essay reviews Suburban Nation: The Rise of Sprawl and the Decline of the American Dream, by Andres Duany, Elizabeth Plater-Zyberk, and Jeff Speck, leading architects of the influential New Urbanism or traditional town planning movement. This review makes five points about the legal study of sprawl. First, Suburban Nation provides a definition of "sprawl" that the law can …
Ever The Twain Shall Meet, Fred S. Mcchesney
Ever The Twain Shall Meet, Fred S. Mcchesney
Michigan Law Review
Instinctively, corruption is deplorable. Nobody likes private citizens paying governmental officials for special favors. Few have deplored corruption longer or in greater detail than economist Susan Rose-Ackerman. In Corruption and Government, Professor Rose-Ackerman discusses how corruption starts ("causes"), why it is bad ("consequences"), and how to stop it ("reform"), principally from an economic perspective. Professor Rose-Ackerman's interest in corruption derives partly from her outside work with international agencies, especially time spent at the World Bank - "a transformative experience" (p. xi). Her twenty-two page bibliography ranges across sources in economics and politics, plus many documents from the World Bank and …
How To Plot Love On An Indifference Curve, Brian H. Bix
How To Plot Love On An Indifference Curve, Brian H. Bix
Michigan Law Review
In From Partners to Parents: The Second Revolution in Family Law, June Carbone offers nothing less than a whirlwind tour of the current doctrinal and policy debates of Family Law - an astounding feat in a book whose main text (excluding endnotes and appendices) does not reach 250 pages. There seem to be few controversies about which Carbone has not read widely and come to a conclusion, and usually a fair-minded one: from the effect of no-fault divorce reforms on the divorce rate, to the long-term consequences of slavery for the African-American family (pp. 67-84), to whether the Aid to …
Applying A Legal Matrix To The World Of Sports, Elsa Kircher Cole
Applying A Legal Matrix To The World Of Sports, Elsa Kircher Cole
Michigan Law Review
The intensity of fans' love for sports is no modern phenomenon. In ancient Rome, fierce rivalries existed between fans of the Red, Green, Blue, and White factions in chariot racing. Even emperors had their favorites. A foul in a race by a member of one faction could spark a riot in the stands. Winning charioteers would have their busts displayed in public places and were paid salaries far beyond that of the average citizen. Juvenal complained in his Satires that a chariot driver might earn 100 times more than a lawyer! The best drivers even achieved free agency and could …
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.
Sentencing The Criminal Corproation, Poonam Puri
Sentencing The Criminal Corproation, Poonam Puri
Osgoode Hall Law Journal
This article contributes to the debate on mandatory minimum sentences by analzing them in the context of the corporation as criminal and by employing a law and economics methodology. While the rational economic actor model maybe unrealistic when applied to individuals committing blue-collar crimes, it is a much more useful tool to describe the behaviour of criminal corporations that respond more directly to economic incentives. The article concludes that the mandatory fine for a corporation found guilty of a criminal offence should, at a minimum, equal the expected loss caused or profit gained from the wrongdoing.
Berle And Means Reconsidered At The Century's Turn, William W. Bratton
Berle And Means Reconsidered At The Century's Turn, William W. Bratton
All Faculty Scholarship
No abstract provided.
Connecting The World: The Development Of The Global Information Infrastructure, Tanya L. Yarbrough
Connecting The World: The Development Of The Global Information Infrastructure, Tanya L. Yarbrough
Federal Communications Law Journal
The International Telecommunication Union, a United Nations organization, has led the charge in developing a truly global economy through its efforts to develop the Global Information Infrastructure (“GII”). The GII would result in universal access to telecommunications and information technology and basic communications services. This Note explains the roles of the agencies involved in the development of the GII and the forces driving its development. It also discusses regulatory issues affecting the implementation and feasibility of the GII. Ultimately, this Note sketches the optimal environment for the evolution of the GII.
Economics V. Equity Ii: The European Experience, Stephen M. Johnson
Economics V. Equity Ii: The European Experience, Stephen M. Johnson
Washington and Lee Law Review
No abstract provided.
China's Post-Modern Legal Research And Its Prospects(中国的后现代法学研究及其前景), Meng Hou
China's Post-Modern Legal Research And Its Prospects(中国的后现代法学研究及其前景), Meng Hou
Hou Meng
No abstract provided.
Alternative Caretaking And Family Autonomy: Some Thoughts In Response To Dorothy Roberts, Katharine K. Baker
Alternative Caretaking And Family Autonomy: Some Thoughts In Response To Dorothy Roberts, Katharine K. Baker
Katharine K. Baker
The Political Economy Of Canada's "Widely Held" Rule For Large Banks, Eric J. Gouvin
The Political Economy Of Canada's "Widely Held" Rule For Large Banks, Eric J. Gouvin
Faculty Scholarship
All of the recent changes in foreign access to Canada's banking market have been essentially cosmetic-appearing to make foreign access more liberal while in reality changing the status quo very little. On one point, the so-called widely held rule, Canada does not even bother to pretend that its banking law is friendly to foreign entrants. Under this rule, no person or group may control ten percent or more of a Schedule I bank unless one first obtains the approval of the Minster of Finance. This rule makes foreign acquisition of a Schedule I bank virtually impossible. The widely held rule …
Insurer Moral Hazard In The Workers' Compensation Crisis: Reforming Cost Inflation, Not Rate Suppression, Martha T. Mccluskey
Insurer Moral Hazard In The Workers' Compensation Crisis: Reforming Cost Inflation, Not Rate Suppression, Martha T. Mccluskey
Journal Articles
This article challenges the standard story of the insurance crisis that led to the near-collapse and major reform of a number of states’ workers’ compensation programs in the 1980s and 1990s.
In the prevailing account, insurance costs rose due to expanding costs of benefits for injured workers’, much of which was blamed on wasteful or abusive "moral hazard" by workers and their lawyers and doctors. Because state regulators had substantial power to control insurance rates, this account claims governments tried to suppress prices in the face of rising benefit costs in a misguided attempt to avoid political trade-offs between labor …
Book Review, G.B. Doern & S. Wilks Eds., Comparative Competition Policy: National Institutions In A Global Market (1996), David J. Gerber
Book Review, G.B. Doern & S. Wilks Eds., Comparative Competition Policy: National Institutions In A Global Market (1996), David J. Gerber
All Faculty Scholarship
No abstract provided.
Predicting The Future Of Employment Law: Reflecting Or Refracting Market Forces?, Stewart J. Schwab
Predicting The Future Of Employment Law: Reflecting Or Refracting Market Forces?, Stewart J. Schwab
Cornell Law Faculty Publications
In this Article I predict how employment law will change in the future. My task is positive rather than normative. I will not argue that the developments I foresee are good ones to be applauded. Rather, they arise "inevitably" from the way the law will react to changes in labor markets.
Of course, as Professor Ronald Dworkin emphasizes, in developing a theory of law one cannot sharply distinguish between the positive and normative. Dworkin points out that even in describing the current legal framework, one must choose what to highlight and what to ignore, a process based on values. When …
The 2001 Federal Economic Crime Sentencing Reforms: An Analysis And Legislative History, Frank O. Bowman Iii
The 2001 Federal Economic Crime Sentencing Reforms: An Analysis And Legislative History, Frank O. Bowman Iii
Faculty Publications
This Article has four parts. First, it describes the general structure of the Federal Sentencing Guidelines and the approach to sentencing economic crimes in effect between 1987 and 2001. Second, it outlines the defects in the former economic crime guidelines that led to the call for reform. Third, it describes the process undertaken by the Sentencing Commission that led to the passage of the 2001 economic crime amendments and, in so doing, provides a roadmap to sources of legislative history. Fourth, it explains and analyzes the new guidelines in light of their legislative history, with primary emphasis on the consolidated …