Law Commons^™

Currents In Water Resources Law And Policy: How Is “Prior” Coping With New Stresses? [Outline], A. Dan Tarlock, David H. Getches

The Future of Natural Resources Law and Policy (Summer Conference, June 6-8)

3 pages.

Includes bibliographical references

"A. Dan Tarlock, Distinguished Professor of Law and Director, Program in Environmental and Energy Law, Chicago-Kent College of Law"

"David H. Getches, Dean and Raphael J. Moses Professor of Natural Resources Law, University of Colorado Law School"

Of Equal Wrongs And Half Rights, Gideon Parchomovsky, Peter Siegelman, Steven Thel

All Faculty Scholarship

With a tiny handful of exceptions, common law jurisprudence is predicated on a “winner-take-all” principle: the plaintiff either gets the entire entitlement at issue or collects nothing at all. Cases that split an entitlement between the two parties are exceedingly rare. While there may be sound reasons for this all-or-nothing rule, we argue in this Article that the law should prefer equal division of an entitlement in a limited but important set of property, tort and contracts cases. The common element in such cases is a windfall, a gain or loss that occurs despite the fact that no ex ante …

Posner, Hayek, And The Economic Analysis Of Law, Todd J. Zywicki

Todd J. Zywicki

This Essay examines Richard Posner’s critique of F.A. Hayek’s legal theory and contrasts the two thinkers’ very different views of the nature of law, knowledge, and the rule of law. Posner conceives of law as a series of disparate rules and as purposive. He believes that a judge should examine an individual rule and come to a conclusion about whether the rule is the most efficient available. Hayek, on the other hand, conceives of law as a purpose-independent set of legal rules bound within a larger social order. Further, Posner, as a legal positivist, views law as an order consciously …

Causa De Los Actos Jurídicos, Redundancia Y Eficiencia, Hugo A. Acciarri

Hugo Alejandro Acciarri

Una rápida intuición vincula redundancia a mayor dificultad de acceso y comprensión de cualquier conjunto de textos legales, y probablemente haya algo de verdad en esta percepción. En términos económicos la redundancia, constituiría una fuente de ineficiencia. No obstante, es posible analizar con más cuidado y desafiar esta afirmación. Este pequeño trabajo sugiere que no es correcto pensar que todos los casos de redundancia en los textos legales incrementen el tiempo o esfuerzo necesario para acceder a la información normativa contenida en los mismos, ni que incrementen las posibilidades de error en el manejo de dicha información. A la inversa, …

Insider Trading Rules Can Affect Attractiveness Of Country's Stock Markets, Laura Nyantung Beny

Articles

The academic debate about the desirability of prohibiting insider trading is longstanding and as yet unresolved. Until Henry Manne’s 1966 book, Insider Trading and the Stock Market, the debate centered on whether insider trading is unfair to public investors who are not privy to private corporate information. However, the fairness approach is malleable and indeterminate and thus does not lend itself to clear-cut policy prescriptions. Since Manne’s book, the focus of the debate has been on the effect of insider trading on economic efficiency. Manne argued that, contrary to the prevailing legal and moral opinion of the time, insider trading …

Boilerplate And Economic Power In Auto-Manufacturing Contracts, Omri Ben-Shahar, James J. White

Book Chapters

This chapter examines the boilerplate contracts used by auto makers to procure parts from suppliers. It identifies drafting and negotiation techniques that are used to secure advantageous terms. It also explores some prominent specific arrangements as evidence that firms with bargaining power are exploiting their position to dictate self-serving but inefficient terms. Finally, it shows how standard contractual clauses solve the problem of ex-post hold-up by suppliers.

The Public Choice Of Driving Competence Regulations, Margaret F. Brinig

Journal Articles

Purpose: The purpose of this study is to describe and classify each state's driver's licensing laws and then test whether the licensing laws affect the percentages of over-64 persons licensed and the proportion of older drivers involved in accidents to determine an optimal level of driving.

Design and Methods: This paper evaluates state driving rules, obtained from laws, regulations, and driver's manuals, tests, based upon Department of Transportation data, whether the type of laws affects driving and accident rates for those over 64 and suggests a uniform scheme combining self-reporting of driving problems, on-the-road tests of drivers who fall below …

Private Liability For Reckless Consumer Lending, John A. E. Pottow

Articles

Congress recently enacted amendments to the Bankruptcy Code that possess the overarching theme of cracking down on debtors due to the increasing rate at which individuals have been filing for bankruptcy. Taking into account the correlation between the overall rise in consumer credit card debt and the rate of individual bankruptcy filings, the author nevertheless hypothesizes that not all credit card debt is troubling. Instead, the author proposes that the catalyst driving individual bankruptcy rates higher than ever is the level of "bad credit"-or credit extended to individuals even though there is a reasonable likelihood that the individual will be …