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 …

The Case In Favour Of The European Private Company A Competitive Alternative For Smes?, Paolo Santella

Paolo Santella

No abstract provided.

A Comparative Analysis Of The Legal Obstacles To Institutional Investor Activism In Europe And In The Us (Pdf Format), Paolo Santella, Enrico Baffi, Carlo Drago, Dino Lattuca

Paolo Santella

No abstract provided.

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

Paolo Santella

No abstract provided.

A Comparative Analysis Of The Legal Obstacles To Institutional Investor Activism In Europe And In The Us (Pdf Format), Paolo Santella, Enrico Baffi, Carlo Drago, Dino Lattuca

Carlo Drago

No abstract provided.

I Fondi Pensione Italiani: Attivismo E Governance By Francesco Bripi And Cristina Giorgiantonio: Discussione (Powerpoint Format), Paolo Santella, Carlo Drago

Paolo Santella

No abstract provided.

Stabilization Activity In Italian Ipos By Dimitri Borienko And Stefano Lombardo: Discussion (Powerpoint Format), Carlo Drago, Paolo Santella

Paolo Santella

No abstract provided.

Stabilization Activity In Italian Ipos By Dimitri Borienko And Stefano Lombardo: Discussion (Powerpoint Format), Carlo Drago, Paolo Santella

Carlo Drago

No abstract provided.

I Fondi Pensione Italiani: Attivismo E Governance By Francesco Bripi And Cristina Giorgiantonio: Discussione (Powerpoint Format), Paolo Santella, Carlo Drago

Carlo Drago

No abstract provided.

The Italian Chamber Of Lords Sits On Listed Company Boards. An Empirical Analysis Of Italian Listed Company Boards From 1998 To 2006 - Presentation (Powerpoint Format), Paolo Santella, Carlo Drago, Andrea Polo

Paolo Santella

No abstract provided.

Vote For Charity's Sake, Aaron S. Edlin, Andrew Gelman, Noah Kaplan

Aaron Edlin

In a battleground state like Colorado or New Mexico, voting in the presidential election may be equivalent to giving $30,000 - $50,000 to others in expected value, and as such is an extremely efficient form of charity.

A Comparative Analysis Of The Legal Obstacles To Institutional Investor Activism In Europe And In The Us (Pdf Format), Paolo Santella, Enrico Baffi, Carlo Drago, Dino Lattuca

Paolo Santella

No abstract provided.

A Comparative Analysis Of The Legal Obstacles To Institutional Investor Activism In Europe And In The Us (Pdf Format), Paolo Santella, Enrico Baffi, Carlo Drago, Dino Lattuca

Carlo Drago

No abstract provided.

Fighting Cartels: Some Economics Of Council Regulation 1/2003 (Ec), By Birgit E. Will And Dieter Schmidtchen: Discussion, Carlo Drago

Carlo Drago

No abstract provided.

Changing The Paradigm Of Stock Ownership From Concentrated Towards Dispersed Ownership? Evidence From Brazil And Consequences For Emerging Countries, Erica Gorga

Cornell Law Faculty Working Papers

This paper analyzes micro-level dynamics of changes in ownership structures. It investigates a unique event: changes in ownership patterns currently taking place in Brazil. It builds upon empirical evidence to advance theoretical understanding of how and why concentrated ownership structures can change towards dispersed ownership.

Commentators argue that the Brazilian capital markets are finally taking off. The number of listed companies and IPOs in the Sao Paulo Stock Exchange (Bovespa) has greatly increased. Firms are migrating to Bovespa’s special listing segments, which require higher standards of corporate governance. Companies have sold control in the market, and the stock market has …

Behavioral Public Finance, Edward J. Mccaffery

Edward J McCaffery

These are slides from a presentation to the Gruter Institute for Law and Behavioral Research, Squaw Valley Conference, May, 2008 (at which event Michael Jensen got me to agree to post these slides as a pdf on SSRN . . . ). The task is to give an overview of what I hope to be an emerging field of behavioral public finance. Behavioral finance, as per Barberis and Thaler 2003 (and others), consists of two parts: (1) individual level heuristics and biases, which can lead to sub-optimal (inconsistent) judgment and decision-making, and (2) institutional arbitrage mechanisms. In private finance and …

Comments On Liebman And Zeckhauser, Simple Humans, Complex Insurance, Subtle Subsidies, Edward J. Mccaffery

Edward J McCaffery

These are brief comments on an excellent paper by Jeffrey Liebman and Richard Zeckhauser, prepared for a conference sponsored by the Urban Institute and Brookings on tax and health care policy. Liebman and Zeckhauser summarize the complexities involved in making optimal health insurance decisions, and offer generally cautionary notes about conflating these with tax law (a theme of the conference). Most importantly, Liebman and Zeckhauser suggest a positive role for employers in health care and insurance decisions, as better setters or framers of choice sets—witness 401(k) plans. In this Commentary, I applaud Leibman and Zeckhauser’s general work and particular observation, …

Taking Distribution Seriously, Robert C. Hockett

Cornell Law Faculty Working Papers

It is common for legal theorists and policy analysts to think and communicate mainly in maximizing terms. What is less common is for them to notice that each time we speak explicitly of socially maximizing one thing, we speak implicitly of distributing another thing and equalizing yet another thing. We also, moreover, effectively define ourselves and our fellow citizens by reference to that which we equalize; for it is in virtue of the latter that our social welfare formulations treat us as “counting” for purposes of socially aggregating and maximizing.

To attend systematically to the inter-translatability of maximization language on …

A Comparative Analysis Of The Legal Obstacles To Institutional Investor Activism In Europe And In The Us (Pdf Format), Paolo Santella, Enrico Baffi, Carlo Drago, Dino Lattuca

Paolo Santella

No abstract provided.

A Comparative Analysis Of The Legal Obstacles To Institutional Investor Activism In Europe And In The Us (Pdf Format), Paolo Santella, Enrico Baffi, Carlo Drago, Dino Lattuca

Carlo Drago

No abstract provided.

A Comparative Analysis Of The Legal Obstacles To Institutional Investor Activism In Europe And In The Us (Powerpoint), Paolo Santella, Enrico Baffi, Carlo Drago, Dino Lattuca

Carlo Drago

No abstract provided.

The Italian Chamber Of Lords Sits On Listed Company Boards. An Empirical Analysis Of Italian Listed Company Boards From 1998 To 2006 - Presentation (Powerpoint Format), Paolo Santella, Carlo Drago, Andrea Polo

Paolo Santella

No abstract provided.

A Comparative Analysis Of The Legal Obstacles To Institutional Investor Activism In Europe And In The Us (Pdf Format), Paolo Santella, Enrico Baffi, Carlo Drago, Dino Lattuca

Paolo Santella

No abstract provided.

A Comparative Analysis Of The Legal Obstacles To Institutional Investor Activism In Europe And In The Us (Pdf Format), Paolo Santella, Enrico Baffi, Carlo Drago, Dino Lattuca

Carlo Drago

No abstract provided.

A Comparative Analysis Of The Legal Obstacles To Institutional Investor Activism In Europe And In The Us (Powerpoint), Paolo Santella, Enrico Baffi, Carlo Drago, Dino Lattuca

Paolo Santella

No abstract provided.

A Comparative Analysis Of The Legal Obstacles To Institutional Investor Activism In Europe And In The Us (Powerpoint), Paolo Santella, Enrico Baffi, Carlo Drago, Dino Lattuca

Carlo Drago

No abstract provided.

A Comparative Analysis Of The Legal Obstacles To Institutional Investor Activism In Europe And In The Us (Powerpoint), Paolo Santella, Enrico Baffi, Carlo Drago, Dino Lattuca

Paolo Santella

No abstract provided.

A Comparative Analysis Of The Legal Obstacles To Institutional Investor Activism In Europe And In The Us (Powerpoint), Paolo Santella, Enrico Baffi, Carlo Drago, Dino Lattuca

Carlo Drago

No abstract provided.

The Italian Chamber Of Lords Sits On Listed Company Boards. An Empirical Analysis Of Italian Listed Company Boards From 1998 To 2006 - Presentation (Pdf Format), Paolo Santella, Carlo Drago, Andrea Polo

Paolo Santella

No abstract provided.

A Positive Theory Of Eminent Domain, Eric Kades

Eric A. Kades