Law Commons^™

A Way Forward For Tax Law And Economics? A Response To Osofsky's "Frictions, Screening, And Tax Law Design", David Gamage

David Gamage

No abstract provided.

Preventing Government Shutdowns: Designing Default Rules For Budgets, David Scott Louk, David Gamage

David Gamage

In nearly every area of law and governance, default policies exist when lawmakers cannot pass new legislation-typically the status quo simply remains in effect. To its detriment, United States budget making at both the state and federal levels lacks effective defaults. If a new budget isn't passed by year end, there is no budget, and the government shuts down. T'ne lack of defaults, coupled with a dysfunctional era of budgetary politics, has led to a number of recent highprofile and costly government shutdowns at the state and federal levels.

To date, legal scholarship has failed to address both the causes …

Comments On Daniel Shaviro's Rax Reform Implications Of The Risk Of A U.S. Budget Catastrophe, David Gamage

David Gamage

No abstract provided.

On The Future Of Tax Salience Scholarship: Operative Mechanisms And Limiting Factors, David Gamage

David Gamage

No abstract provided.

Perverse Incentives Arising From The Tax Provisions Of Healthcare Reform: Why Further Reforms Are Needed To Prevent Avoidable Costs To Low- And Moderate-Income Workers, David S. Gamage

David Gamage

This Article proceeds as follows. Part II explains why employers provided health insurance prior to the ACA, and Part III explains how the ACA will alter employers' incentives as to whether to offer health insurance. Understanding how the ACA will affect employers' incentives is key to understanding the ACA's effective taxes. Parts II and III are directed toward readers who have not previously immersed themselves in the details of the ACA.'s Readers who already have an in-depth understanding of the tax provisions of the ACA may wish to start reading with Part IV.

Part IV explains how the ACA will …

Resolving The Paradox Of The Consideration Doctrine: The Implications Of Inefficient Signaling And Of Anti-Commodification Norms

David Gamage

This paper addresses one of the central problems of contract law, a puzzle that has troubled generations of contracts scholars: Why do we only enforce promises backed by consideration? Or, how can we justify insisting on the bargain context, but not requiring that the bargains be adequate? The lack of a theoretical solution to this puzzle has plagued the application of the consideration doctrine in courts of law.

We resolve this paradox through two innovations. First, using a game theory model based on asymmetric information, we dispute the common wisdom that the law should honor parties’ intentions as articulated at …

Commodification And Contract Formation: Placing The Consideration Doctrine On Stronger Foundations

David Gamage

Under the traditional consideration doctrine, a promise is only legally enforceable if it is made in exchange for something of value. This doctrine lies at the heart of contract law, yet it lacks a sound theoretical justification – a fact that has confounded generations of scholars and created a mess of case law. This paper argues that the failure of traditional justifications for the doctrine comes from two mistaken assumptions. First, previous scholars have assumed that anyone can back a promise with nominal consideration if they wish to do so. We show how social norms against commodification limit the availability …

Taxation And Incentives In The Business Enterprise, David Gamage, Shruti Rana

David Gamage

This book chapter discusses the tax perspective on business enterprise law with a comparative focus on the U.S. and Japan.