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Articles 1 - 24 of 24
Full-Text Articles in Law
How Do Local-Level Legal Institutions Promote Development?, Varun Gauri
How Do Local-Level Legal Institutions Promote Development?, Varun Gauri
Varun Gauri
This paper develops a framework and some hypotheses regarding the impact of local-level, informal legal institutions on three economic outcomes: aggregate growth, inequality, and human capabilities. It presents a set of stylized differences between formal and informal legal justice systems, identifies the pathways through which formal systems promote economic outcomes, reflects on what the stylized differences mean for the potential impact of informal legal institutions on economic outcomes, and looks at extant case studies to examine the plausibility of the arguments presented. The paper concludes that local-level, informal legal institutions can support social substitutes for the enforcement of contracts, although …
Why Japanese Entrepreneurs Don't Give Up Control To Venture Capitalists, Zenichi Shishido
Why Japanese Entrepreneurs Don't Give Up Control To Venture Capitalists, Zenichi Shishido
Zenichi Shishido
The biggest difference in the incentive bargains between entrepreneurs and venture capitalists in the US and Japan is that American entrepreneurs abandon control while Japanese entrepreneurs do not. Years ago, Black & Gilson tried to explain the difference by the existence and non-existence of liquid IPO markets. Although now there are multiple liquid IPO markets in Japan, Japanese entrepreneurs are still reluctant to abandon control of their companies to venture capitalists. While there must be many complementary reasons, such as different market situations, different social norms, etc., for the difference, I will raise a hypothesis that it can be partly …
Tying, Price Discrimination And Antitrust Policy, Herbert Hovenkamp
Tying, Price Discrimination And Antitrust Policy, Herbert Hovenkamp
Herbert Hovenkamp
ABSTRACT
A tying arrangement is a seller’s requirement that a customer may purchase its “tying” product only by taking its “tied” product. In a variable proportion tie the purchaser can vary her purchases of the tied product. For example, a customer might purchase a single printer, but either a contract or technological design requires her to purchase varying numbers of printer cartridges from the same manufacturer. Such arrangements are widely considered to be price discrimination devices, but their economic effects have been controversial.
Price discrimination comes in various “degrees.” In third degree price discrimination the seller isolates two or more …
P2p 'System Caching' – The Copyright Dilemma, Assaf Jacob, Zoe Argento
P2p 'System Caching' – The Copyright Dilemma, Assaf Jacob, Zoe Argento
Assaf Jacob
This paper explores the legal ramifications of the prevalent Internet Service Provider practice of providing caching services to P2P network users. First, the paper describes the P2P industry, its benefits and drawbacks. Then the paper discusses several caching techniques that can be implemented, and indeed are implemented, by ISPs around the globe. These practices allow ISPs to provide clients with better services but, by the same token, expose them to copyright infringement suits by third parties. The article will discuss how copyright law should consider the costs and benefits to the public of P2P caching practices, especially in the application …
The Economics Of The Attorney-Client Privilege: A Comprehensive Review And A New Justification, Keith A. Kendall
The Economics Of The Attorney-Client Privilege: A Comprehensive Review And A New Justification, Keith A. Kendall
Keith A Kendall
The attorney-client privilege is one of the fundamental aspects of legal professional practice in the United States. Despite this central importance, there have been many calls over the centuries for the privilege’s abolition. A relatively recent trend is for such criticisms to be based on an economic analysis of the privilege’s mechanics, including incentives for rent seeking behavior, signaling problems faced by clients and incentives to overinvest in litigation. Responses to these criticisms that also utlize economic reasoning center on the economics of information production, recognizing that the privilege serves a useful function, notwithstanding the critiques. In addition to these …
The Author's Rights In Literary And Artistic Works, Alina Ng
The Author's Rights In Literary And Artistic Works, Alina Ng
Alina Ng
This paper suggests that authorship and creativity, which necessarily precedes the production of literary and artistic works, are products of authentic human expression that the law must encourage in order for works, contributing to the progress of science and the useful arts, to be produced. While the commercial market for literary and artistic works encourages the creation of diverse works to meet popular consumer demand, encouraging the production of works for the commercial market may however result in works, which may lack social, educational and cultural value or utility. Natural law philosophy, which advocates a natural order for society and …
An Introduction To Social Choice, Maxwell L. Stearns
An Introduction To Social Choice, Maxwell L. Stearns
Maxwell L. Stearns
Social choice studies the differing implications of the concept of rationality (or transitivity) for individuals versus groups under specified conditions and the significance of these differences in various institutional decision making contexts. This introductory chapter on social choice for the Elgar Handbook on Public Choice (Elgar Publishing Company, Dan Farber and Anne O’Connell, editors), introduces the basic framework of social choice, considers the implications of social choice for various legal and policy contexts, and provides a framework for evaluating a range of normative proposals grounded in social choice for reforming lawmaking institutions. After a brief introduction, part II introduces the …
The New Regulation: From Command To Coordination In The Modern Administrative State, Robert B. Ahdieh
The New Regulation: From Command To Coordination In The Modern Administrative State, Robert B. Ahdieh
Robert B. Ahdieh
The New Regulation: From Command To Coordination In The Modern Administrative State, Robert B. Ahdieh
The New Regulation: From Command To Coordination In The Modern Administrative State, Robert B. Ahdieh
Robert B. Ahdieh
The New Regulation: From Command To Coordination In The Modern Administrative State, Robert B. Ahdieh
The New Regulation: From Command To Coordination In The Modern Administrative State, Robert B. Ahdieh
Robert B. Ahdieh
The New Regulation: From Command To Coordination In The Modern Administrative State, Robert B. Ahdieh
The New Regulation: From Command To Coordination In The Modern Administrative State, Robert B. Ahdieh
Robert B. Ahdieh
The New Regulation: From Command To Coordination In The Modern Administrative State, Robert B. Ahdieh
The New Regulation: From Command To Coordination In The Modern Administrative State, Robert B. Ahdieh
Robert B. Ahdieh
Behavioral Economic Issues In American And Islamic Marriage & Divorce Law, Ryan M. Riegg
Behavioral Economic Issues In American And Islamic Marriage & Divorce Law, Ryan M. Riegg
Ryan M. Riegg
Opportunism, Uncertainty, And Relational Contracting - Antitrust Rules In The Film Industry, Ryan M. Riegg
Opportunism, Uncertainty, And Relational Contracting - Antitrust Rules In The Film Industry, Ryan M. Riegg
Ryan M. Riegg
The Law And Economics Of Cybersecurity: An Introduction, Mark F. Grady, Francesco Parisi
The Law And Economics Of Cybersecurity: An Introduction, Mark F. Grady, Francesco Parisi
Mark F. Grady
One of the most controversial theoretical issues of our time is the governance of cybersecurity. Computer security experts, national security experts, and policy analysts have all struggled to bring meaningful analysis to cybersecurity; however, the discipline of law & economics has yet to be fully applied to the issue. This introduction presents work by leading national scholars who examine this complex national security challenge from a law and economics perspective. The focus spans from a discussion of pure market solutions to public-private issue analysis, providing a valuable basis for policy considerations concerning the appropriate governmental role on the issue of …
¿Por Qué Blawgueamos? Breve Análisis Económico De Los Blogs Jurídicos (Blawgs) Y De La Blogósfera, Maximiliano Marzetti
¿Por Qué Blawgueamos? Breve Análisis Económico De Los Blogs Jurídicos (Blawgs) Y De La Blogósfera, Maximiliano Marzetti
Maximiliano Marzetti
BREVE ANÁLISIS ECONÓMICO DE LOS BLOGS JURÍDICOS (BLAWGS) Y DE LA BLOGÓSFERA.
Opportunism, Uncertainty, And Relational Contracting - Antitrust Rules In The Film Industry, Ryan M. Riegg
Opportunism, Uncertainty, And Relational Contracting - Antitrust Rules In The Film Industry, Ryan M. Riegg
Ryan M. Riegg
Behavioral Economic Issues In American & Islamic Marriage & Divorce Law, Ryan M. Riegg
Behavioral Economic Issues In American & Islamic Marriage & Divorce Law, Ryan M. Riegg
Ryan M. Riegg
More Private Equity, Less Government Subsidy, And More Tax Efficiency In Urban Revitalization, Roger M. Groves
More Private Equity, Less Government Subsidy, And More Tax Efficiency In Urban Revitalization, Roger M. Groves
Roger M. Groves
MORE PRIVATE EQUITY, LESS GOVERNMENT SUBSIDY, AND MORE TAX EFFICIENCY IN URBAN REVITALIZATION: Modeling Profitable Philanthropy and Investment Incentives In hopes of revitalizing depressed urban areas, US tax policy has been to use tax credits as a major incentive to induce private equity re-investment. But those give away subsidies to private investors have failed to have transformative effects, and come at a price in the billions to the public treasury. This article seeks a shift in the tax policy paradigm to increase the private equity investment, while reducing tax subsidy dependence. For the philanthropic urban investor, the short term incentive …
Facebook 2 Blackberry And Database Trading Systems: Morphing Social Networking To Business Growth In A Global Recession, Roger M. Groves
Facebook 2 Blackberry And Database Trading Systems: Morphing Social Networking To Business Growth In A Global Recession, Roger M. Groves
Roger M. Groves
FACEBOOK 2 BLACKBERRY AND DATABASE TRADING SYSTEMS: MORPHING SOCIAL NETWORKING TO BUSINESS GROWTH IN A GLOBAL RECESSION Summary Facebook has now applications to the Blackberry Smartphone and IPhone. And Facebook has exploded internationally. If the Facebook social networking technology has applications to Blackberry, why not business? And as any business looks for growth, the market is not an existing heavily saturated United States, but a global market. Can the Facebook model of data sharing be customized to propel US technology firms into new international markets? This article claims the affirmative, through a multilateral clearing system, with credits and vouchers, as …
Originality, Alex Stein, Gideon Parchomovsky
Originality, Alex Stein, Gideon Parchomovsky
Alex Stein
In this Essay we introduce a model of copyright law that calibrates authors’ rights and liabilities to the level of originality in their works. We advocate this model as a substitute for the extant regime that unjustly and inefficiently grants equal protection to all works satisfying the “modicum of creativity” standard. Under our model, highly original works will receive enhanced protection and their authors will also be sheltered from suits by owners of preexisting works. Conversely, authors of less original works will receive diminished protection and incur greater exposure to copyright liability. We operationalize this proposal by designing separate rules …
Reconceptualizing Trespass, Alex Stein, Gideon Parchomovsky
Reconceptualizing Trespass, Alex Stein, Gideon Parchomovsky
Alex Stein
This Essay addresses an anomaly in trespass law. Trespass law is generally understood as the paradigmatic example of property-rule protection: an owner can obtain an injunction against the trespasser and have him removed from her land. The property-rule protection enjoyed by the owner protects her right to exclude others and to set the price for the use of her property. However, the property-rule protection only exists ex ante: it avails only against imminent or ongoing trespasses. Ex post, after a trespass ends, the owner can only recover compensation measured by the market value of the unauthorized use, i.e., the going …
What Is The Probability Your Vote Will Make A Difference?, Andrew Gelman, Nate Silver, Aaron S. Edlin
What Is The Probability Your Vote Will Make A Difference?, Andrew Gelman, Nate Silver, Aaron S. Edlin
Aaron Edlin
One Size Does Not Fit All: A Framework For Tailoring Intellectual Property Rights, Michael W. Carroll
One Size Does Not Fit All: A Framework For Tailoring Intellectual Property Rights, Michael W. Carroll
Michael W. Carroll
The United States and its trading partners have adopted cultural and innovation policies under which the government grants one-size-fits-all patents and copyrights to inventors and authors. On a global basis, the reasons for doing so vary, but in the United States granting intellectual property rights has been justified as the principal means of promoting innovation and cultural progress. Until recently, however, few have questioned the wisdom of using such blunt policy instruments to promote progress in a wide range of industries in which the economics of innovation varies considerably.
Provisionally accepting the assumptions of the traditional economic case for intellectual …