Law Commons^™

The Coase Theorem And Arthur Cecil Pigou, Herbert J. Hovenkamp

All Faculty Scholarship

In "The Problem of Social Cost" Ronald Coase was highly critical of the work of Cambridge University Economics Professor Arthur Cecil Pigou, presenting him as a radical government interventionist. In later work Coase's critique of Pigou became even more strident. In fact, however, Pigou's Economics of Welfare created the basic model and many of the tools that Coase's later work employed. Much of what we today characterize as the "Coase Theorem," including the relevance of transaction costs, externalities, and bilateral monopoly, was either stated or anticipated in Pigou's work. Further, Coase's extreme faith in private bargaining led him to fail …

Elections And Economic Turbulence In Brazil: Candidates, Voters, And Investors, Tony Petros Spanakos, Lucio R. Renno

Department of Political Science and Law Faculty Scholarship and Creative Works

The relation between elections and the economy in Latin America might be understood by considering the agency of candidates and the issue of policy preference congruence between investors and voters. The preference congruence model proposed in this article highlights political risk in emerging markets. Certain risk features increase the role of candidate campaign rhetoric and investor preferences in elections. When politicians propose policies that can appease voters and investors, elections may have a limited effect on economic indicators, such as inflation. But when voter and investor priorities differ significantly, deterioration of economic indicators is more likely. Moreover, voter and investor …

Agenda: Evolving Regional Frameworks For Ag-To-Urban Water Transfers, University Of Colorado Boulder. Natural Resources Law Center, Western Water Policy Program, Western Water Assessment (Program), Red Lodge Clearinghouse

Evolving Regional Frameworks for Ag-to-Urban Water Transfers (December 11)

The permanent transfer of water from agricultural users to municipalities has become a common feature of water management in several western states. In many cases, these voluntary market‐based transfers provide significant benefits to both the buyers and sellers, but many third parties—including remaining irrigators, rural businesses and communities dependent upon agricultural economies—have been negatively impacted. While some impacts of these so‐called “buy and dry” transfers are largely unavoidable, many can be lessened by temporary arrangements that only shift water to cities in years when municipal supplies are inadequate, such as drought and post‐drought storage recovery, and by consolidating individual farm‐to‐city …

Slides: Pvid/Mwd Land Management, Crop Rotation And Water Supply Program, Ed Smith

Evolving Regional Frameworks for Ag-to-Urban Water Transfers (December 11)

Presenter: Ed Smith, General Manager, Palo Verde Irrigation District, Southern California

25 slides

Slides: Lower Arkansas Valley Super Ditch Company, Inc.: Water Leasing Program, Peter Nichols

Evolving Regional Frameworks for Ag-to-Urban Water Transfers (December 11)

Presenter: Peter Nichols, General Counsel of the Lower Arkansas Valley “Super Ditch” Company, Trout, Raley, Montano, Witwer & Freeman PC, Colorado

33 slides

Slides: Idaho Rental Pool: Rules And Procedures, Idaho Water Resource Board, Jerry R. Rigby

Evolving Regional Frameworks for Ag-to-Urban Water Transfers (December 11)

Presenter: Jerry Rigby, Counsel for Fremont‐Madison Irrigation District, Rigby, Thatcher, Andrus, Rigby & Moeller, Idaho

25 slides

German Equal Protection: Substantive Review Of Economic Measures, Edward J. Eberle

Law Faculty Scholarship

No abstract provided.

Los Recursos Impugnatorios Y El Amparo Contra Resoluciones Judiciales En Perú: Un Análisis Funcional, Óscar Sumar

Oscar Súmar

No abstract provided.

Comparative Advantages Of The Supreme People’S Court Judgement(最高人民法院判决的比较优势), Meng Hou

Hou Meng

No abstract provided.

China And India Competition Laws: A Comparison, Giulia Piombi

Giulia Piombi

No abstract provided.

Aspectos Legais Dos Mecanismos De Compartilhamento Monetário: Currency Board, União Monetária E Adoção De Moeda Estrangeira [Legal Aspects Of Currency-Sharing Mechanisms: Currency Board, Monetary Union, And Adoption Of A Foreign Currency], Jefferson Alvares

Jefferson Alvares

Aborda os aspectos jurídicos dos mecanismos que possibilitam a utilização de uma mesma moeda por mais de um Estado: o currency board, as uniões monetárias e a adoção de moeda estrangeira. Analisa as raízes sociais e jurídica da moeda; o papel da moeda na economia internacional, incluindo detalhes sobre os mecanismos de compartilhamento monetário; e as condições para a criação de uma área monetária unificada no Mercosul.

[The paper deals with the legal aspects of mechanisms that enable a single currency to be officially employed in two or more national economies: currency boards, monetary unions, and outright use of a …

International News V Associated Press: A Theme And Variations Over Four Days, Christopher Wadlow

Christopher Wadlow

A series of four classes at the University of Trier (Germany) for undergraduate law students, using the International News v Associated Press case 248 U.S. 215 (1918) to discuss some principles of unfair competition and copyright law, as well as some more fundamental doctrines from the common law, and American Constitutional law.

Toward A Unified Theory Of Access To Local Telephone Systems, Daniel F. Spulber, Christopher S. Yoo

All Faculty Scholarship

One of the most distinctive developments in telecommunications policy over the past few decades has been the increasingly broad array of access requirements regulatory authorities have imposed on local telephone providers. In so doing, policymakers did not fully consider whether the justifications for regulating telecommunications remained valid. They also allowed each access regime to be governed by its own pricing methodology and set access prices in a way that treated each network component as if it existed in isolation. The result was a regulatory regime that was internally inconsistent, vulnerable to regulatory arbitrage, and unable to capture the interactions among …

On The Many Flavors Of Capitalism Or Reflections On Schumpeter's Ghost, John Henry Schlegel

Buffalo Law Review

Most legal scholars treat capitalism as a genus with one species. The appearance of several books that argue to the contrary suggests that it is sensible to revisit this assumption. Discussion begins by considering the constructed nature of markets, the importance of market systems, and the role of financings as the factor distinguishing capitalism from other forms of a market economy. Thereafter, four articulations of the varieties of capitalism are reviewed: the classic Marxist one, one by a political economist, another by a pair of comparative political scientists, and third by a trio of economists. This review leads to a …

Introducing Classcrits: Rejecting Class-Blindness, A Critical Legal Analysis Of Economic Inequity, Athena D. Mutua

Journal Articles

In 2007, two workshops at the University at Buffalo launched a project bringing together legal scholars interested in exploring the relationship between law and economic inequality. This article provides an overview of the workshops’ key understandings and discussions. The essay suggests that these understandings, informed by critical legal scholarship, constituted a set of shared assumptions among the participants and informed the groups’ rejection of class blindness, a society-wide blindness to the existence and use of economic power. Discussing some of the functional similarities of gender, race and class blindness, the article argues that feminist and critical race scholars’ critiques of …

Discounting Dilemmas: Editors' Introduction, W. Kip Viscusi

Vanderbilt Law School Faculty Publications

Two developments pose dilemmas for well established discounting techniques: (1) The extremely long time horizons associated with recently prominent environmental policy problems, such as climate change and nuclear waste storage, have made it important to take seriously both benefits to future generations and extreme uncertainties in projecting the returns to policies and future well being. (2) Findings in the burgeoning field of behavioral economics have made it clear that individuals routinely depart significantly from rational prescriptions when making choices over time, thus undermining a bulwark of the discounting approach. These two sets of dilemmas are addressed in a series of …

The Enduring Lessons Of The Breakup Of At&T: A Twenty-Five Year Retrospective, Christopher S. Yoo

All Faculty Scholarship

On April 18-19, 2008, the University of Pennsylvania Law School hosted a landmark conference on “The Enduring Lessons of the Breakup of AT&T: A Twenty-Five Year Retrospective.” This conference was the first major event for Penn’s newly established Center for Technology, Innovation, and Competition, a research institute committed to promoting basic research into foundational frameworks that will shape the way policymakers think about technology-related issues in the future. The breakup of AT&T represents an ideal starting point for reexamining the major themes of telecommunications policy that have emerged over the past quarter century. The conference featured a keynote address by …

Treatment Of Saltcedar (Tamarix Spp.): Economics And Feasibility, Christopher L. Thompson

All Graduate Theses and Dissertations, Spring 1920 to Summer 2023

The invasive species Saltcedar is affecting water and land resources throughout the western states of America. Because of great water use capabilities and other ecosystem detriments, Saltcedar has been targeted for treatment.

For successful management of Saltcedar, individual landowners need to be aware of the costs and benefits of treating Saltcedar. Eleven of the most commonly reported treatment methods were evaluated for firm level economic feasibility. Evaluated on the basis of treatment cost, treatment effectiveness, Saltcedar water-use, and re-vegetation water-use, a production plan of ten years was created for each treatment method. Some treatment methods required re-treatment and were evaluated …

Uncertainty Revisited: Legal Prediction And Legal Postdiction, Ehud Guttel, Alon Harel

Michigan Law Review

Legal scholarship, following rational-choice theory, has traditionally treated uncertainty as a single category. A large body of experimental studies, however, has established that individuals treat guesses concerning the future differently than guesses concerning the past. Even where objective probabilities and payoffs are identical, individuals are much more willing to predict a future event (and are more confident in the accuracy of their predictions) than they are willing to postdict a past event (and are also less confident in the accuracy of their postdiction). For example, individuals are more willing to bet on the results of a future die toss than …

Jogelmélet Jog Nélkül? [Legal Theory Without Law?], Péter Cserne

Péter Cserne

No abstract provided.

Un Código Modelo En Lenguaje Claro, Maximiliano Marzetti

Maximiliano Marzetti

La presentación del Dr. Maximiliano Marzetti refiere a un proyecto de la Asociación Latinoamericana y del Caribe de Derecho y Economía (ALACDE) para impulsar una nueva generación de codificación civil y comercial para Latino América y el Caribe desde un enfoque integrado del análisis económico del Derecho para hacer que el derecho funcione mejor y sea más eficiente. Se trata de innovar tanto en el fondo (law and economics) como en la forma (plain legal language). La redacción en lenguaje jurídico claro ayuda a disminuir los "costos de transacción" de los lectores.

The Taxation Of Private Equity Carried Interests: Estimating The Revenue Effects Of Taxing Profit Interests As Ordinary Income, Michael S. Knoll

All Faculty Scholarship

In this Article, I estimate the tax revenue effects of taxing private equity carried interests as ordinary income rather than as long-term capital gain as under current law. Under reasonable assumptions, I conclude that the expected present value of additional tax collections would be between 1 percent and 1.5 percent of capital invested in private equity funds, or between $2 billion and $3 billion a year. That estimate, however, makes no allowance for changes in the structure of such funds or the composition of the partnerships, which might substantially reduce tax revenues below those estimates.

The Fundamental Goal Of Antitrust: Protecting Consumers, Not Increasing Efficiency, John B. Kirkwood, Robert H. Lande

All Faculty Scholarship

The conventional wisdom in the antitrust community is that the purpose of the antitrust laws is to promote economic efficiency. That view is incorrect. As this article shows, the fundamental goal of antitrust law is to protect consumers.

This article defines the relevant economic concepts, summarizes the legislative histories, analyzes recent case law in more depth than any prior article, and explores the most likely bases for current popular support of the antitrust laws. All these factors indicate that the ultimate goal of antitrust is not to increase the total wealth of society, but to protect consumers from behavior that …

El Fallo Ate Y Sus Circunstancias (Elementos Para Su Estudio), Horacio M. Lynch

Horacio M. LYNCH

Estudio sobre el histórico fallo de la Corte Suprema sobre la libertad sindical (el fallo ATE).

Crise Econômica E Regulação, Jefferson Alvares

Jefferson Alvares

No abstract provided.

Una Comparazione Tra Le Reti Di Amministratori Nelle Principali Societa Quotate In Italia, Francia E Gran Bretagna, Paolo Santella, Carlo Drago, Andrea Polo, Enrico Gagliardi

Carlo Drago

The purpose of the present paper is to contribute to the empirical literature on country interlocks by illustrating and analysing the interlocking directorships in the first 40 Italian, French and British Blue Chips as of December 2007 (Italy)/March 2008 (France and uk). The theoretical literature identify two possible explanations for interlocking directorships, on the one hand the collusion among players in the same market or in general among enterprises that have business relations among themselves; on the other hand the interest for enterprises to have on their boards bankers, suppliers, and clients so as to reduce information asymmetries. Our findings …

Marshall V. Northern Virginia Transportation Authority: The Supreme Court Of Virginia Rules That Taxes Can Be Imposed By Elected Bodies Only, Patrick M. Mcsweeney, Wesley G. Russell Jr.

University of Richmond Law Review

No abstract provided.

Proposed Legislation: A (Second) Modest Proposal To Protect Virginia Consumers Against Defective Products, Peter Nash Swisher

University of Richmond Law Review

The purpose of this article is to suggest a viable, necessary, and eminently reasonable legislative alternative that the Virginia General Assembly should enact for legitimate and pressing public policy reasons in order to properly protect Virginia consumers from defective and unreasonably dangerous consumer products.Adopting this alternative would bring the Commonwealth of Virginia into the mainstream of twenty-first century American, and transnational, products liability law.

Taxation, Craig D. Bell

University of Richmond Law Review

No abstract provided.

Electronic Tax Fraud - Are There 'Sales Zappers' In Japan?, Richard Thompson Ainsworth

Faculty Scholarship

Although there is no public acknowledgement - in the press, in a court case, though any announcement by the Japanese National Tax Administration, or in any academic studies or papers - that Zappers and Phantom-ware are a fraud problem in Japan, a number of factors suggest that Japan may be very fertile ground for technology-assisted cash skimming fraud. Those factors include: (1) a high concentration of small to medium sized businesses; (2) the fact that the retail economy is highly cash-based; and (3) the high level of technology acceptance in the Japanese retail sector - electronic cash registers (ECRs) and …