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Discounting Dilemmas: Editors' Introduction, W. Kip Viscusi Dec 2008

Discounting Dilemmas: Editors' Introduction, W. Kip Viscusi

Vanderbilt Law School Faculty Publications

Two developments pose dilemmas for well established discounting techniques: (1) The extremely long time horizons associated with recently prominent environmental policy problems, such as climate change and nuclear waste storage, have made it important to take seriously both benefits to future generations and extreme uncertainties in projecting the returns to policies and future well being. (2) Findings in the burgeoning field of behavioral economics have made it clear that individuals routinely depart significantly from rational prescriptions when making choices over time, thus undermining a bulwark of the discounting approach. These two sets of dilemmas are addressed in a series of …


An Originalism For Foreign Affairs, Ingrid Wuerth Oct 2008

An Originalism For Foreign Affairs, Ingrid Wuerth

Vanderbilt Law School Faculty Publications

Legal scholarship on foreign affairs frequently focuses on the Constitution's text and original meaning, but generally does not fully engage debates about originalism as a method of modern constitutional interpretation. For its part, much of the scholarship defending originalism as a methodology has said little explicitly about foreign affairs. This short symposium contribution describes three contemporary normative arguments in favor of originalism - those advanced by Randy Barnett, Keith Whittington, and John McGinnis and Michael Rappaport - and then considers their application to foreign affairs. It concludes that these arguments are at best underdeveloped and at worst weak when it …


Why The Filed Rate Doctrine Should Not Imply Blanket Judicial Deference To Regulatory Agencies, Jim Rossi Oct 2008

Why The Filed Rate Doctrine Should Not Imply Blanket Judicial Deference To Regulatory Agencies, Jim Rossi

Vanderbilt Law School Faculty Publications

The filed rate doctrine is a venerable doctrine of public utility regulation. Federal courts applying the doctrine frequently defer to the regulatory agency and refuse to consider the merits of alleged violations of antitrust, tort or contract claims where resolution would require a departure from a filed rate. For over a century, the filed rate doctrine has served many important purposes. However, with increased attention to market-based approaches to electric power, natural gas and telecommunications regulation, there is reason to question both the doctrine's continued applicability and usefulness. This short essay argues that, as regulators implement competitive markets in utility …


Election As Appointment: The Tennessee Plan Reconsidered, Brian T. Fitzpatrick Jan 2008

Election As Appointment: The Tennessee Plan Reconsidered, Brian T. Fitzpatrick

Vanderbilt Law School Faculty Publications

Tennessee's merit system for selecting judges - referred to as the Tennessee Plan - has been controversial ever since it was enacted in 1971 to replace contested elections. The greatest controversy has been whether the Plan is even constitutional. The Tennessee constitution states that all judges "shall be elected by the qualified voters" of the state. Yet, under the Tennessee Plan, the governor appoints all appellate judges, and those judges come before the voters only after a period of time on the bench and only in uncontested yes-no retention referenda. In 1977, the people of Tennessee were asked to amend …


Skin Color Discrimination And Immigrant Pay, Joni Hersch Jan 2008

Skin Color Discrimination And Immigrant Pay, Joni Hersch

Vanderbilt Law School Faculty Publications

In "Profiling the New Immigrant Worker: The Effects of Skin Color and Height," (Journal of Labor Economics 2008), I present strong evidence of a wage penalty to darker skin color among new legal immigrants to the United States. Immigrants with the lightest skin color earn on average 17 percent higher wages than comparable immigrants with the darkest skin color, taking into account Hispanic ethnicity, race, country of birth, education, English language proficiency, family background, and occupation in the source country. This current paper demonstrates that the penalty to darker skin color is not a spurious consequence of omitted variables bias. …


Democracy Uncaged, Suzanna Sherry Jan 2008

Democracy Uncaged, Suzanna Sherry

Vanderbilt Law School Faculty Publications

Sanford Levinson calls for a new constitutional convention in Our Undemocratic Constitution: Where the Constitution Goes Wrong (and How We the People Can Correct It). This review explains how Levinson overstates the Constitution's defects and understates the risks of submitting it to a constitutional convention for revision. It exposes the hidden biases in Levinson's analysis and defends the counter-majoritarian aspects of the Constitution that Levinson criticizes.


Overruling Erie: Nationwide Class Actions And National Common Law, Suzanna Sherry Jan 2008

Overruling Erie: Nationwide Class Actions And National Common Law, Suzanna Sherry

Vanderbilt Law School Faculty Publications

In this essay, part of a symposium on the Class Action Fairness Act, I argue that CAFA should be read as having overruled Erie Railroad Co. v. Tompkins as applied to the nationwide class actions that fall within CAFA's jurisdictional grant. In the principal paper on which this essay comments, Linda Silberman suggests that Congress should overrule Klaxon v. Stentor Electric Mfg. Co. That suggestion, I propose, amounts to swimming halfway across a river. One of Congress's stated goals in enacting CAFA was to restore the intent of the founding generation. Examining the history and purposes of both diversity jurisdiction …


Law's Complexity: A Primer, J.B. Ruhl Jan 2008

Law's Complexity: A Primer, J.B. Ruhl

Vanderbilt Law School Faculty Publications

The legal system. It rolls easily off the tongues of lawyers like a single word - the legal system - as if we all know what it means. But what is the legal system? How does it behave? What are its boundaries? What is its input and output? How will it look in one year? In ten years? How should we use it to make change in some other aspect of social life? Why do answers to these questions make the legal system seem so complex? Would assembling a cogent, descriptively accurate theory of what makes the legal system complex …


Counterinsurgency And Constitutional Design, Ganesh Sitaraman Jan 2008

Counterinsurgency And Constitutional Design, Ganesh Sitaraman

Vanderbilt Law School Faculty Publications

Few think of counterinsurgency as linked to constitutional design. Counterinsurgency is bottom-up; constitutional design is top-down. Counterinsurgency is military; constitutional design is political-legal. Counterinsurgency is temporary, transitional, and tactical, designed to stabilize society; constitutional systems come later and are permanent, constant, and normal. But the conflicts in Iraq and Afghanistan demonstrate the fallacy of these perceptions. Counterinsurgency and constitutional design took place simultaneously, they required high-level political agreement and ground-level acceptance, and they involved politics, law, and security. Iraq and Afghanistan demonstrate that these two enterprises are not different and disconnected, but rather intricately interconnected and complementary. This Note explores …


"The Threes": Re-Imagining Supreme Court Decisionmaking, Chris Guthrie, Tracey E. George Jan 2008

"The Threes": Re-Imagining Supreme Court Decisionmaking, Chris Guthrie, Tracey E. George

Vanderbilt Law School Faculty Publications

In this Essay--the first in a series of essays designed to reimagine the Supreme Court--we argue that Congress should authorize the Court to adopt, in whole or part, panel decision making... With respect to the prospect of different Court outcomes, we demonstrate empirically in this Essay that the vast majority of cases decided during the late twentieth and early twenty-first centuries--including "Grutter", "Roe", and "Bush v. Gore" --would have come out the same way if the Court had decided them in panels rather than as a full Court.


Habeas Corpus And State Sentencing Reform: A Story Of Unintended Consequences, Nancy J. King, Suzanna Sherry Jan 2008

Habeas Corpus And State Sentencing Reform: A Story Of Unintended Consequences, Nancy J. King, Suzanna Sherry

Vanderbilt Law School Faculty Publications

This Article tells the story of how fundamental shifts in state sentencing policy collided with fundamental shifts in federal habeas policy to produce a tangled and costly doctrinal wreck. The conventional assumption is that state prisoners seeking habeas relief allege constitutional errors in their state court convictions and sentences. But almost 20 percent of federal habeas petitions filed by noncapital state prisoners do not challenge state court judgments. They instead attack administrative actions by state prison officials or parole boards, actions taken long after the petitioner's conviction and sentencing. Challenges to these administrative decisions create serious problems for federal habeas …


"Carhart", Constitutional Rights, And The Psychology Of Regret, Chris Guthrie Jan 2008

"Carhart", Constitutional Rights, And The Psychology Of Regret, Chris Guthrie

Vanderbilt Law School Faculty Publications

In "Gonzales v. Carhart", the Supreme Court upheld the Partial-Birth Abortion Ban Act. In so doing, the Court used the prospect of regret to justify limiting choice. Relying on empirical evidence documenting the four ways in which regret actually operates, this Article argues that the Court's analysis reflects a fundamental misunderstanding of the psychology of regret. By exposing the Court's misunderstanding of this emotion, this article seeks to minimize the most significant risk posed by the Carhart decision: that states will use the prospect of regret to justify additional constraints not only on the abortion right but also on other …


Making Copyright Whole: A Principled Approach To Copyright Exceptions And Limitations, Daniel J. Gervais Jan 2008

Making Copyright Whole: A Principled Approach To Copyright Exceptions And Limitations, Daniel J. Gervais

Vanderbilt Law School Faculty Publications

This Article suggests a path to develop a principled conceptualization for copyright of limitations and exceptions at the international level. The paper argues that, normatively, copyright has always sought to reflect a balance between protection and access. It demonstrates that this balance was present to the minds of the negotiators of the 1886 Berne Convention for the Protection of Literary and Artistic Works and may have been somewhat overlooked in revisions of the Convention. It was ultimately replaced by a three-step test designed to restrict the ability of individual legislators to create limitations and exceptions. The article also considers the …


The Evolving Role Of Institutional Investors In Corporate Governance And Corporate Litigation, Randall Thomas Jan 2008

The Evolving Role Of Institutional Investors In Corporate Governance And Corporate Litigation, Randall Thomas

Vanderbilt Law School Faculty Publications

Each of the articles in this Symposium sheds new light on the ever-changing role of institutional investors in U.S. corporate governance and corporate litigation. They cover a broad range of topics, including institutional investor activism on executive compensation, proxy access initiatives at the SEC, state and federal litigation, and the current levels of activism by public pension funds. The data and the theoretical contributions of these articles provide important foundation for the ongoing discussion about the role of institutional investors.


Climate Change: The China Problem, Michael P. Vandenbergh Jan 2008

Climate Change: The China Problem, Michael P. Vandenbergh

Vanderbilt Law School Faculty Publications

The central problem confronting climate change scholars and policymakers is how to create incentives for China and the United States to make prompt, large emissions reductions. China recently surpassed the United States as the largest greenhouse gas emitter, and its projected future emissions far outstrip those of any other nation. Although the United States has been the largest emitter for years, China's emissions have enabled critics in the United States to argue that domestic reductions will be ineffective and will transfer jobs to China. These two aspects of the China Problem, Chinese emissions and their influence on the political process …


The New Role For Assurance Services In Global Commerce, Margaret M. Blair Jan 2008

The New Role For Assurance Services In Global Commerce, Margaret M. Blair

Vanderbilt Law School Faculty Publications

In this Article we examine the rapid emergence and expansion of a private-sector compliance and enforcement infrastructure that we believe increasingly may be providing a substitute for public and legal regulatory infrastructure in global commerce, especially in developing countries where rule of law is weak and court systems are absent or inadequate. This infrastructure is provided by a proliferation of performance codes and standards, and a rapidly growing global army of privately trained and authorized inspectors and certifiers that we call the "third party assurance industry. " The growth in the third party assurance business has been phenomenal in the …


Adjusting The Value Of A Statistical Life For Age And Cohort Effects, W. Kip Viscusi, Joseph E. Aldy Jan 2008

Adjusting The Value Of A Statistical Life For Age And Cohort Effects, W. Kip Viscusi, Joseph E. Aldy

Vanderbilt Law School Faculty Publications

To resolve the theoretical ambiguity in the effect of age on the value of statistical life (VSL), this article uses a novel, age-dependent fatal risk measure to estimate age-specific hedonic wage regressions. VSL exhibits an inverted-U shaped relationship with age. In the year 2000 cross-section, workers' VSL rises from $3.7 million (ages 18-24), to $9.7 million (35-44), and declines to $3.4 million (55-62). Controlling for birth-year cohort effects in a minimum distance estimator yields a peak VSL of $7.8 million at age 46, and flattens the VSL-age relationship. The value of statistical life-year also follows an inverted-U shape with age.


The Enablement Pendulum Swings Back, Sean B. Seymore Jan 2008

The Enablement Pendulum Swings Back, Sean B. Seymore

Vanderbilt Law School Faculty Publications

Possibly in response to criticisms that the U.S. patent system affords too much legal protection to patent owners, the courts have begun to chip away at patent rights. Curiously enough, the Supreme Court has heard a relatively large number of patent cases over its last three terms, which suggests to several commentators and members of the patent bar that the Court is unhappy with the Federal Circuit's stewardship of the patent system and has, among other things, invited the court to rethink its approach to modulating patent rights. And it appears that the Federal Circuit has accepted the invitation. In …


Medellin: The New, New Formalism?, Ingrid Wuerth Jan 2008

Medellin: The New, New Formalism?, Ingrid Wuerth

Vanderbilt Law School Faculty Publications

The Supreme Court's 2008 decision in Medellin v. Texas appears to represent a formalist turn in the Court's approach to foreign relations cases. The opinion emphasizes text as the key to treaty interpretation and it stresses the importance of the Constitution's specific law-making procedures. But the opinion does not deliver on its formalist promises. Emphasis on treaty text is undermined by the Court's insistence that the text reflects the intentions of the U.S. treaty makers, a questionable proposition with respect to the issue of domestic implementation raised by the case, and one that will raises serious interpretative difficulties down the …


From Judge To Justice: Social Background Theory And The Supreme Court, Tracey E. George Jan 2008

From Judge To Justice: Social Background Theory And The Supreme Court, Tracey E. George

Vanderbilt Law School Faculty Publications

The Roberts Court Justices already have revealed many differences from one another, but they also share a (possibly) significant commonality: Presidents promoted all of them to the U.S. Supreme Court from the U.S. Courts of Appeals. This means, of course, that they initially learned how to be judges while serving on a circuit court. How might the Justices' common route to the Court affect their actions on it? Social background theory hypothesizes that prior experience influences subsequent behavior such as voting, opinion writing, and coalition formation. This Article empirically analyzes promotion to the Supreme Court and examines the implications of …


Errors, Omissions, And The Tennessee Plan, Brian T. Fitzpatrick Jan 2008

Errors, Omissions, And The Tennessee Plan, Brian T. Fitzpatrick

Vanderbilt Law School Faculty Publications

In the Spring 2008 issue of the Tennessee Law Review, I wrote an essay questioning whether Tennessee's merit system for selecting appellate judges - the Tennessee Plan - satisfies the requirements of the Tennessee Constitution. The Tennessee Constitution requires all judges to be elected by the qualified voters of the state, yet, under the Plan, all appellate judges are initially selected by gubernatorial appointment and then retained in uncontested referenda. I argued that both the appointment and retention features of the Plan are unconstitutional, and I recommended that the legislature refuse to reauthorize the Plan when it expires in June …


Reforming Securities Litigation Reform: Restructuring The Relationship Between Public And Private Enforcement Of Rule 10b-5, Amanda Rose Jan 2008

Reforming Securities Litigation Reform: Restructuring The Relationship Between Public And Private Enforcement Of Rule 10b-5, Amanda Rose

Vanderbilt Law School Faculty Publications

Commentators have long debated how to reform the controversial Rule 10b-5 class action without pausing to ask whether the game is worth the candle. Is private enforcement of Rule lOb-5 worth preserving, or might we be better off with exclusive public enforcement? This fundamental but neglected question demands attention today more than ever. An academic consensus has emerged that the typical Rule 1Ob-5 class action cannot be defended on compensatory grounds. That leaves the oft-cited, but undertheorized, rationale that private enforcement is a "necessary supplement" to the securities fraud deterrence efforts of the SEC. When this justification is critically examined, …


Sunstein1s And 2s, Tracey E. George, Paul H. Edelman Jan 2008

Sunstein1s And 2s, Tracey E. George, Paul H. Edelman

Vanderbilt Law School Faculty Publications

In Six Degrees of Cass Sunstein: Collaboration Networks in Legal Scholarship, we began the study of the legal academy's collaboration network. When mathematicians discuss the nature of collaboration in their field they focus on the most influential collaborator in the discipline-- Paul Erdos, the peripatetic Hungarian mathematician who authored over 1500 papers with over 450 different collaborators before his death in 1996. They introduced the concept of the Erdos Number, which is the number of degrees of separation between a mathematician and Erdos.


A Near Term Retrospective On The Al-Dujail Trial & The Death Of Saddam Hussein, Michael A. Newton Jan 2008

A Near Term Retrospective On The Al-Dujail Trial & The Death Of Saddam Hussein, Michael A. Newton

Vanderbilt Law School Faculty Publications

Saddam Hussein al-Tikriti died at the hands of Iraqi officials at dawn on December 30, 2006, following a tumultuous fourteen month trial3 for crimes committed against the citizens of a relatively obscure Iraqi village known as al-Dujail.4 Maintaining his façade of disdain when the verdict and sentence were announced on November 5, 2006, Saddam entered the courtroom with an arrogant strut and refused to stand until the guards made him do so to hear the judge’s opinion.5 When Saddam interrupted the reading of the verdict, Judge Ra’ouf Rasheed Abdel Rahman turned down the volume of his microphone and spoke over …


Chief Judges: The Limits Of Attitudinal Theory And Possible Paradox Of Managerial Judging, Tracey E. George, Albert H. Yoon Jan 2008

Chief Judges: The Limits Of Attitudinal Theory And Possible Paradox Of Managerial Judging, Tracey E. George, Albert H. Yoon

Vanderbilt Law School Faculty Publications

Chief judges wield power. Among other things, they control judicial assignments, circulate petitions to their colleagues, and manage internal requests and disputes. When exercising this power, do chiefs seek to serve as impartial court administrators or do they attempt to manufacture case outcomes that reflect their political beliefs? Because chiefs exercise their power almost entirely outside public view, no one knows. No one sees the chief judge change the composition of a panel before it is announced or delay consideration of a petition for en banc review or favor the requests of some colleagues while ignoring those of others. Chiefs …


There Are Plaintiffs And . . . There Are Plaintiffs: An Empirical Analysis Of Securities Class Action Settlements, Randall Thomas, James D. Cox, Lynn Bai Jan 2008

There Are Plaintiffs And . . . There Are Plaintiffs: An Empirical Analysis Of Securities Class Action Settlements, Randall Thomas, James D. Cox, Lynn Bai

Vanderbilt Law School Faculty Publications

In this paper, we examine the impact of the PSLRA and more particularly the impact the type of lead plaintiff on the size of settlements in securities fraud class actions. We thus provide insight into whether the type of plaintiff that heads the class action impacts the overall outcome of the case. Furthermore, we explore possible indicia that may explain why some suits settle for extremely small sums - small relative to the "provable losses" suffered by the class, small relative to the asset size of the defendant-company, and small relative to other settlements in our sample. This evidence bears …


Climate Change: The Equity Problem, Michael P. Vandenbergh, Brooke A. Ackerly Jan 2008

Climate Change: The Equity Problem, Michael P. Vandenbergh, Brooke A. Ackerly

Vanderbilt Law School Faculty Publications

A substantial proportion of the United States population is at or below the poverty level, yet many of the greenhouse gas emissions reduction measures proposed or adopted to date will increase the costs of energy, motor vehicles, and other consumer goods. This essay suggests that although scholarship and policymaking to date have focused on the disproportionate impact of these increased costs on the low-income population, the costs will have two important additional effects. First, the anticipated costs will generate political opposition from social justice groups, reducing the likelihood that aggressive measures will be adopted. Second, to the extent aggressive measures …


The Failure Of Breast Cancer Informed Consent Statutes, Rachael Anderson-Watts Jan 2008

The Failure Of Breast Cancer Informed Consent Statutes, Rachael Anderson-Watts

Vanderbilt Law School Faculty Publications

Informed consent is a common law concept rooted in the idea that "[e]very human being of adult years and sound mind has a right to determine what shall be done with his own body."' Its aim is to ensure that each patient gets the information she needs to meaningfully consent to medical procedures. Coming of age in the 1970s alongside other important rights movements, informed consent purported to solve medicine's paternalism: doctors too often dictating treatments rather than discussing options. Combating medical paternalism seems a worthwhile goal, given abuses in the past century, but moreover to improve everyday physician-patient encounters. …


Corporations And The Market For Law, Erin O'Connor Jan 2008

Corporations And The Market For Law, Erin O'Connor

Vanderbilt Law School Faculty Publications

The state competition for corporate law has long been studied as a distinct phenomenon. Under the traditional view, corporations are subject to a unique choice-of-law rule, the internal affairs doctrine (IAD). This rule is explained as a historical accident, or by the special logistics of the corporate contract. The resulting market for corporate law appears to have special characteristics, particularly including the dominance by the single state of Delaware. This paper challenges the traditional view. It shows that the corporate law market is best understood as a special application of the general market for law. Any differences are matters of …


Farms And Ecosystem Services, J.B. Ruhl Jan 2008

Farms And Ecosystem Services, J.B. Ruhl

Vanderbilt Law School Faculty Publications

No abstract provided.