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Full-Text Articles in Law

The Corporate Income Tax And The Competitiveness Of U.S. Industries, Michael S. Knoll Jan 2010

The Corporate Income Tax And The Competitiveness Of U.S. Industries, Michael S. Knoll

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Hit hard by the financial crisis and recession, U.S. auto producers are seeking a massive bailout from the U.S. Congress. Many reasons are given for the U.S. auto industry’s lack of competitiveness including the U.S. corporate income tax. Although it is regularly asserted that there is a direct connection between the corporate income tax and competitiveness, what that connection is has not been carefully spelled out. In this essay, I describe how the corporate income tax directly harms the competitiveness of U.S. industries. I show that the mechanism differs depending upon whether the U.S. industry is defined as the global …


Contingent Valuation Studies And Health Policy, Matthew D. Adler Jan 2010

Contingent Valuation Studies And Health Policy, Matthew D. Adler

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This short comment argues that both cost-benefit analysis (CBA) and cost-effectiveness analysis (CEA) should be seen as imperfect tools for evaluating health policy. This is true, not only for extra-welfarists, but even for welfarists, since both CBA and CEA can deviate from the use of social welfare functions (SWF). A simple model is provided to illustrate the divergence between CBA, CEA, and the SWF approach. With this insight in mind, the comment considers the appropriate role of contingent-valuation studies. For full text, please see: http://www.law.upenn.edu/cf/faculty/madler/workingpapers/578A59B6d01.pdf.


The Distortionary Effect Of Evidence On Primary Behavior, Gideon Parchomovsky, Alex Stein Jan 2010

The Distortionary Effect Of Evidence On Primary Behavior, Gideon Parchomovsky, Alex Stein

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In this Essay, we analyze how evidentiary concerns dominate actors’ behavior. Our findings offer an important refinement to the conventional wisdom in law and economics literature, which assumes that legal rules can always be fashioned to achieve socially optimal outcomes. We show that evidentiary motivations will often lead actors to engage in socially suboptimal behavior when doing so is likely to increase their likelihood of prevailing in court. Because adjudicators must base decisions on observable and verifiable information—or, in short, evidence—rational actors will always strive to generate evidence that can later be presented in court and increase their chances of …


Citizenship, In The Immigration Context, Matthew J. Lister Jan 2010

Citizenship, In The Immigration Context, Matthew J. Lister

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Many international law scholars have begun to argue that the modern world is experiencing a “decline of citizenship,” and that citizenship is no longer an important normative category. On the contrary, this paper argues that citizenship remains an important category and, consequently, one that implicates considerations of justice. I articulate and defend a “civic” notion of citizenship, one based explicitly on political values rather than shared demographic features like nationality, race, or culture. I use this premise to argue that a just citizenship policy requires some form of both the jus soli (citizenship based on location of birth) and the …


Breach Is For Suckers, Tess Wilkinson-Ryan, David A. Hoffman Jan 2010

Breach Is For Suckers, Tess Wilkinson-Ryan, David A. Hoffman

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This paper presents results from three experiments offering evidence that parties see breach of contract as a form of exploitation, making disappointed promisees into “suckers.” In psychology, being a sucker turns on a three-part definition: betrayal, inequity, and intention. We used web-based questionnaires to test the effect of each of the three factors separately. Our results support the hypothesis that when breach of contract cues an exploitation schema, people become angry, offended, and inclined to retaliate even when retaliation is costly. This theory offers a useful advance insofar it explains why victims of breach demand more than similarly situated tort …


A Comprehensive Theory Of Deal Structure: Understanding How Transactional Structure Creates Value, Michael S. Knoll, Daniel M. G. Raff Jan 2010

A Comprehensive Theory Of Deal Structure: Understanding How Transactional Structure Creates Value, Michael S. Knoll, Daniel M. G. Raff

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No abstract provided.


Lyondell: A Note Of Approbation, William W. Bratton Jan 2010

Lyondell: A Note Of Approbation, William W. Bratton

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No abstract provided.


The Case Against Shareholder Empowerment, William W. Bratton, Michael L. Wachter Jan 2010

The Case Against Shareholder Empowerment, William W. Bratton, Michael L. Wachter

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No abstract provided.