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Articles 1 - 30 of 36
Full-Text Articles in Law
From Coase To Cooter: The Criticisms To Pigou’S Ideas, Enrico Baffi
From Coase To Cooter: The Criticisms To Pigou’S Ideas, Enrico Baffi
enrico baffi
The aim of this paper is at discovering the most profound divergences between Coase and Pigou. Coase is well known for his theorem, but in his article ”The Problem of social Cost” he wants to point all the convincing criticisms to Pigou way of reasoning or, it is probably more correct to say, to Pigou’s oral tradition. I have found at least four criticisms. The last one, that states that it is impossible to have a mechanism of internalization of all social costs , is probably the least appealing but that one that has the strongest roots. I have also …
Taking Outcomes Seriously, Daphna Lewinsohn-Zamir
Taking Outcomes Seriously, Daphna Lewinsohn-Zamir
Daphna Lewinsohn-Zamir
The goal of economic efficiency is to promote best outcomes by maximizing the satisfaction of people’s preferences. Given the crucial role of outcomes in efficiency analysis, surprisingly little attention has been devoted to the question of what an outcome actually is. Law-and-economics scholars typically disregard this issue, implicitly adopting the narrowest possible definition of outcome, namely end-results in terms of wealth. Furthermore, no attempt has been made to examine the fundamental question of what notion of outcomes individuals actually embrace.
This Article aims to fill this void by presenting an experimental study of perceptions of outcomes, conducted with both laypersons …
Contracting In The Modern World, Enrico Baffi
Contracting In The Modern World, Enrico Baffi
enrico baffi
In this paper we try explore some of the basic features of mass contracting. In our opinion, there are basically four characteristics of mass contracting: the reduced negotiations, the dissemination of standard form contracts, the presence of abusive clauses, and the recapitulation of the contract and its execution in a single act of stipulation. a) The reduction in negotiations is the result first of all of the costs that this activity requires and of the costs required to manage personalised contracts; secondly, this reduction is the consequence of the greater advantage of mass-produced goods compared to personalised goods; ) The …
Standard Contract Clauses As Public Goods. A New Way Of Reasoning, Enrico Baffi
Standard Contract Clauses As Public Goods. A New Way Of Reasoning, Enrico Baffi
enrico baffi
The aim of this work is to show how it is possible to identify market failures other than those traditionally identified by lawyers and law and economics scholars to justify the mandatory provisions of contracts between professionals and consumers and the equally mandatory provisions governing the abuse of economic dependency. This is a new approach that can be extended to other provisions and appears to rest on fairly solid microeconomic foundations. There is no doubt, however, that many criticisms can be leveled against it. Very briefly, I shall argue that the production of clauses characterized by being rather vague, indeterminate …
Evaluating Contracts For Customized Litigation By The Norms Underlying Civil Procedure, Colter Paulson
Evaluating Contracts For Customized Litigation By The Norms Underlying Civil Procedure, Colter Paulson
Colter Paulson
Recent scholarship on the potential for contractual modifications of litigation procedure focuses on contractual theories of enforcement, with constraints supplied by public policy. But this approach ignores the fact that such contracts purport to bind a third-party, the court, that did not agree to change its procedures. Nor can contractual theories of enforcement fully account for the societal and institutional interests in existing procedures. These problems are resolved, however, when contractual procedures are seen primarily as procedures, rather than as contracts, and are evaluated in light of the norms underlying civil procedure.
These norms are found both in the explicit …
Public Goods And Contract Standard Clauses: A New Approach, Enrico Baffi
Public Goods And Contract Standard Clauses: A New Approach, Enrico Baffi
enrico baffi
The aim of this work is to show how it is possible to identify market failures other than those traditionally identified by lawyers and law and economics scholars to justify the mandatory provisions of contracts between professionals and consumers and the equally mandatory provisions governing the abuse of economic dependency. This is a new approach that can be extended to other provisions and appears to rest on fairly solid microeconomic foundations. There is no doubt, however, that many criticisms can be leveled against it. Very briefly, I shall argue that the production of clauses characterized by being rather vague, indeterminate …
The Good Faith Approach To Foreclosure Mediation: An Assessment Of Washington's Foreclosure Mediation Program, Scott P. Kennedy
The Good Faith Approach To Foreclosure Mediation: An Assessment Of Washington's Foreclosure Mediation Program, Scott P. Kennedy
Scott P. Kennedy
Since 2007, concerns over high home foreclosure rates have played a dominant role in U.S. economic news and policy, and several states have responded with bold statutory and regulatory innovations. In July of 2011, Washington State implemented one such innovation: the Foreclosure Fairness Act (FFA). It grants defaulting homeowners the right to initiate a mediation in which lenders must consider the alternatives to foreclosure in good faith. This article assesses the Washington model's potential to mitigate the forces frustrating foreclosure prevention. Despite the increasing viability of foreclosure's alternatives, national foreclosure rates remain high. Poor lender-borrower dialogue, a system of perverse …
Allocation Of Fault In Contract Law, Avi Weiss, Osnat Jacobi
Allocation Of Fault In Contract Law, Avi Weiss, Osnat Jacobi
Avi Weiss
In this paper we consider situations in which the parties are in disagreement about the allocation of a certain risk, and either party could have acted ex-ante to prevent breach, to lower its probability or to insure against it (“least-cost avoidance” in tort law), but neither did so. When the state-of-the-world is revealed there remain steps the parties can take to prevent breach or mitigate damages. We consider strict liability and other regimes such as negligence and comparative fault, and show that the first-best solution is not achieved in those regimes because they incentivize the parties to consult the court …
Towards Determining Legal Parentage By Agreement In Israel, Yehezkel Margalit
Towards Determining Legal Parentage By Agreement In Israel, Yehezkel Margalit
Hezi Margalit
In Israel as in other parts of the world, families, parenthood, and relations between parents and children have changed dramatically over the past few decades. So, too, developments in modern medicine have enhanced the ability to separate sexuality from fertility and parenthood. Many researchers feel that the legal system has not kept pace with these changes, and that traditional models of familial relationships no longer provide adequate tools for dealing with them. In order to bridge the gap between a desired social status and current law, a growing number of parents seek to regulate the status, rights, and obligations of …
Determining Legal Parenthood By Agreement As A Possible Solution To The Challenges Of The New Era, Yehezkel Margalit
Determining Legal Parenthood By Agreement As A Possible Solution To The Challenges Of The New Era, Yehezkel Margalit
Hezi Margalit
Over the past decades, we witnessed changes in the matrimonial and parenting institutions. Medical innovations have further created ethical-legal dilemmas. It is, therefore, essential to create a theory and framework that will determine ways to deal with the resulting dilemma in a fully developed manner. This paper surveys the current, conflicting shifts in family structure and the definition of legal parenthood. In it, I deal with the importance and various aspects of defining legal parenthood. I will also focus on the singularity of this dilemma as it is increasingly apparent in the various fertility treatments. I present the sociological-legal roots …
Pacta Sunt Servanda -- Or Not, Richard S. Wirtz
Pacta Sunt Servanda -- Or Not, Richard S. Wirtz
Richard S. Wirtz
Abstract Two of the important defenses to the enforcement of contracts are impracticability and frustration of purpose. In the American law of contracts, the general rule is that the promisor bears the risk that the contract may become more burdensome or less desirable to her, as a result of changes in circumstances for which she did not plan. In traditional terms, pacta sunt servanda: contracts are to be performed, come what may. The theory underlying the two defenses is that when an extraordinary circumstance renders a promised performance so vitally different from what was to be expected that it changes …
A Contractarian Critique Of Citizens United, Joseph F. Morrissey
A Contractarian Critique Of Citizens United, Joseph F. Morrissey
Joseph F. Morrissey
Abstract
In Citizens United v. Federal Election Commission, a 5–4 majority overturned a congressional enactment limiting corporate electioneering. Decided in 2010, the Citizens United opinion has already been harshly criticized by a broad spectrum of people, ranging from President Obama to Ben & Jerry. A group of senators has even called for a constitutional amendment to undo the results of that decision.
In this article, I criticize the majority opinion in Citizens United for ignoring the prevailing contractarian view of a corporation. In so doing, the majority arrived at the false conclusion that corporations should be entitled to the constitutional …
Forum Shopping And The Cost Of Access To Justice: Cost And Certainty In International Commercial Litigation And Arbitration, Ali Assareh
Ali Assareh
International commercial transactions sometimes give rise to disputes. Resolving these disputes requires access to justice (whether through litigation or arbitration), and access to justice costs money⎯in some cases, enough money to overshadow the substance of the underlying dispute. Knowing this, international commercial parties almost always include a “dispute resolution” clause in their contracts. Yet, despite their prevalence and importance in managing future arbitration and litigation costs, dispute resolution clauses are often poorly negotiated and hastily drafted, perhaps because some factors that affect the cost of resolving future disputes are not known by the parties ex ante. But, while some factors …
Pluralism And Perfectionism In Private Law, Hanoch Dagan
Pluralism And Perfectionism In Private Law, Hanoch Dagan
Hanoch Dagan
Many private law scholars strive to divine broad unified normative theories of property, contracts, torts, and restitution (or, at times, even of private law as a whole). These monist accounts suggest that one regulative principle guides the various doctrines of these complex legal fields or that, even if more than one value shapes a given field, there is one particular balance of such values that guides the entire terrain. Notwithstanding the intuitive appeal of such structural monism, this Essay calls for a pluralist turn in private law theory and argues that a structurally pluralist and moderately perfectionist understanding provides a …
Making Non-Competes Unenforceable, Viva R. Moffat
Making Non-Competes Unenforceable, Viva R. Moffat
Viva R. Moffat
The law of employee non-competition agreements is a mess. Differing standards, unpredictability, and uncertainty within and between jurisdictions is the norm. The variability in state law provides a significant incentive on both sides to forum shop when a dispute over a non-compete arises. This forum shopping leads to conflicts of law, and choice of law doctrine does not resolve these disputes in a satisfactory way. Because non-compete law is often a matter of fundamental public policy, the use of escape valves from the operation of conflicts principles means that there is no predictability or certainty in non-compete litigation. The search …
Non-Recourse Mortages – A Fresh Start, Ron Harris, Asher Meir
Non-Recourse Mortages – A Fresh Start, Ron Harris, Asher Meir
Ron Harris
In about a quarter of US states, all residential mortgages are essentially non-recourse, meaning that in case of default, the lender can only repossess the house but cannot collect on the private assets and future income of the borrower. This American innovation is now beginning to attract extensive interest abroad, but ironically in the US itself is getting a bad name. The law has been blamed for exacerbating the financial crisis, while stricken homeowners who take advantage of it have been scolded by lenders and even by the Secretary of the Treasury. We propose a fresh and more balanced look …
Constructing Access Through Exclusion. The Effect Of Individual And Collective Patent Ownership And Licensing On Openness In Human Genomic Science, Geertrui R.L. Van Overwalle
Constructing Access Through Exclusion. The Effect Of Individual And Collective Patent Ownership And Licensing On Openness In Human Genomic Science, Geertrui R.L. Van Overwalle
Geertrui R.L. Van Overwalle
Human genomic science and intellectual property are often considered to be at odds. The present paper is an attempt to analyse the current problems in gene patenting through the lens of individual, multiple and collaborative ownership. The objective of the present chapter is to systematize the relation between modes of ownership, modes of licensing and their effect on access.
Individual and multiple ownership have different effects. Individual ownership may result in blocking patent positions and multiple ownership may lead to hindering patent thickets. Both phenomena frustrate follow-on innovation. The effect of individual and multiple ownership, blocking patents and patent thickets …
Consenting Under Stress, Hila Keren
Consenting Under Stress, Hila Keren
Hila Keren
This Article highlights a disturbing gap between what is currently known about stress across a range of disciplines and the way stress is treated at law. It does so by focusing on parties who seek relief from harmful contracts, on the grounds that they consented under stress. The Article first exposes the leading legal view that stress is merely a subjective feeling and therefore merits no legal recognition. It then provides a pragmatic synthesis of the rich study of stress, in order to counter that misguided legal presumption and to offer a better understanding of the physical, social and psychological …
To Be Or Not To Be (A Parent)? – Not Precisely The Question; The Frozen Embryo Dispute, Yehezkel Margalit
To Be Or Not To Be (A Parent)? – Not Precisely The Question; The Frozen Embryo Dispute, Yehezkel Margalit
Hezi Margalit
Modern medicine offers a variety of fertility treatments, with the result that in the United States alone, there are more than 400,000 frozen embryos and another 10,000 are frozen every year. Since the rate of divorce in the United States increases exponentially, one can easily imagine how many frozen embryos could become open to litigation. Indeed, the media, the law and the people concerned with the ethical aspects have devoted much attention to this issue. This is because litigation forces the reassessment of many complex issues starting with the appropriate balance between an individual’s legal right to be and not …
Standard Contract Clauses As Public Goods: A New Approach, Enrico Baffi
Standard Contract Clauses As Public Goods: A New Approach, Enrico Baffi
enrico baffi
The aim of this work is to show how it is possible to identify market failures other than those traditionally identified by lawyers and law and economics scholars to justify the mandatory provisions of contracts between professionals and consumers and the equally mandatory provisions governing the abuse of economic dependency. This is a new approach that can be extended to other provisions and appears to rest on fairly solid microeconomic foundations. There is no doubt, however, that many criticisms can be leveled against it. Very briefly, I shall argue that the production of clauses characterized by being rather vague, indeterminate …
Standard Contract Clauses As Public Goods: A New Way To Approach The Problem, Enrico Baffi
Standard Contract Clauses As Public Goods: A New Way To Approach The Problem, Enrico Baffi
enrico baffi
The aim of this work is to show how it is possible to identify market failures other than those traditionally identified by lawyers and law and economics scholars to justify the mandatory provisions of contracts between professionals and consumers and the equally mandatory provisions governing the abuse of economic dependency. This is a new approach that can be extended to other provisions and appears to rest on fairly solid microeconomic foundations. There is no doubt, however, that many criticisms can be leveled against it. Very briefly, I shall argue that the production of clauses characterized by being rather vague, indeterminate …
The Problem Of Internalization Of Social Costs And The Ideas Of Ronald Coase, Enrico Baffi
The Problem Of Internalization Of Social Costs And The Ideas Of Ronald Coase, Enrico Baffi
enrico baffi
This work examines the influence of Coasian thought on the analysis of externalities as used by economists and legal economists. Ronald Coase, a Chicago scholar, advanced a series of criticisms of the Pigovian tax system; the theorem that bears his name is merely the best known. In his 1960 work, he sought to demonstrate that the internationalization of social costs was not always socially useful and sometimes impossible. In addition, he identified other institutional solutions to which systems can - and often do - resort. One of these solutions is to simply authorize the harmful activity without introducing mechanisms to …
The Problem Of Internalization Of Social Costs And The Ideas Of Ronadl Coase, Enrico Baffi
The Problem Of Internalization Of Social Costs And The Ideas Of Ronadl Coase, Enrico Baffi
enrico baffi
In this paper, I try to show that, although some arguments elaborated by Coase do not have a great practical importance, and that it seems that the most important one against a system of remedies for each externalities (if we are able to define this concept) is difficult to create, Coase has understood many problems that they have been at the basis of later studies in tort and property law; but, what is more important here, is to underline that a system of remedies for every externalities have been refused by eminent scholars after Coase The work of the English …
Contracting I The -Modern Woerld, Enrico Baffi
Contracting I The -Modern Woerld, Enrico Baffi
enrico baffi
In this paper I want to show that the change that we observe in the way of contracting do not depend by the market powers that firms would have obtained, but it is a phenomenon due to the change in relative costs of activities. There are activities that are labor intensive that must be abandoned in favor of activities that capital intensive, and there are activities that are time consuming that the people do not want to bea, as reading all the contract clauses of a standard form contract, that determine the necessity, probably, if there is not a state …
Contracting In Modern World, Enrico Baffi
Contracting In Modern World, Enrico Baffi
enrico baffi
In this paper I try explore some of the basic features of modern mass contracting. In my opinion, there are basically four characteristics of modern mass contracting: a)he reduced negotiations; b) the dissemination of standard form contracts; c) the presence of abusive clauses; d) and the recapitulation of the contract and its execution in a single act of stipulation. All the changes are the consequences in the changes of relative costs of activities: a) The reduction in negotiations is the result first of all of the costs that this activity requires and of the costs required to manage personalized contracts; …
Mental Budget And Inefficient Clauses: A Lesson From Behavioral Law Nand Economics, Enrico Baffi
Mental Budget And Inefficient Clauses: A Lesson From Behavioral Law Nand Economics, Enrico Baffi
enrico baffi
This paper is an attempt to highlight how clauses, which are traditionally considered to be inefficient, may actually be desired by consumers. This anomaly originates in the fact that each individual builds a mental budget by dividing the money he has among the needs he intends to satisfy. According to consumers’ reasoning, money is not fungible, in the sense that amounts cannot be transferred from one expenditure to another. Consumers who behave in this way may sometimes find that they have depleted the amount they budgeted for an item while wanting to buy more of it. Since additional time, efforts …
Coase V. Pigou: A Still Difficult Debate After Fifty Years, Enrico Baffi
Coase V. Pigou: A Still Difficult Debate After Fifty Years, Enrico Baffi
enrico baffi
This paper examine the positions of Coase and Pigou about the problem of the externalities. From the reading of their most two important works it appears that Coase has a more relevant preference for a evaluation of efficiency at the total, while Pigou, with some exception, is convinced that is possible to reach marginal efficiency through taxes. It’s interesting that Coase, who has elaborated the famous theorem, is convinced that is not i to reach the efficiency at the margin every time and that sometimes is necessary a valuation at the total, that tells us which solution is more welfare …
Casev. Pigou: A Still Difficult Debate, Enrico Baffi
Casev. Pigou: A Still Difficult Debate, Enrico Baffi
enrico baffi
This paper examine the positions of Coase and Pigou about the problem of the externalities. From the reading of their most two important works it appears that Coase has a more relevant preference for a evaluation of efficiency at the total, while Pigou, with some exception, is convinced that is possible to reach marginal efficiency through taxes or compensation. It’s interesting that Coase, who has elaborated the famous theorem, is convinced that is not important to reach the efficiency at the margin every time and that sometimes is necessary a valuation at the total, that tells us which solution is …
The Equity Of The M/S Bremen And Its Extraordinary Influence, Graydon S. Staring
The Equity Of The M/S Bremen And Its Extraordinary Influence, Graydon S. Staring
Graydon S. Staring
It is rare that an admiralty case will be widely influential in other fields of law. Such a one was the case of The Bremen. The Supreme Court unanimously renounced the past hostility to forum selection clauses and held them enforceable in Equity by way of admiralty, a precedent soon widely copied as a reform in common law. Note: The intention to publish a larger article on this subject has been abandoned.
Los Viajes En El Halcón Milenario Y El Rescate De La Princesa Leia Organa: Los Verdaderos Requisitos De La Imposibilidad Sobrevenida Por Causa No Imputable, Javier André Murillo Chávez
Los Viajes En El Halcón Milenario Y El Rescate De La Princesa Leia Organa: Los Verdaderos Requisitos De La Imposibilidad Sobrevenida Por Causa No Imputable, Javier André Murillo Chávez
Javier André Murillo Chávez
No abstract provided.