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Full-Text Articles in Law
A Production Theory Of Pure Economic Loss, Robert J. Rhee
A Production Theory Of Pure Economic Loss, Robert J. Rhee
Faculty Scholarship
Although the pure economic loss rule has been remarkably durable in the common law, it suffers from a theoretical deficit. The rule has not been properly framed within the broader context of Anglo-American political economy. Any theory must recognize that the rule fundamentally deals with business risk and economic organization. Two conceptions of risk are important: risk to economic assets essential to the production function (loss of a factor of production), and risk to outcomes (loss of production). This Article proposes a production theory of the pure economic loss rule, which is rooted in the neoclassical economic understanding of the …
Thou Shalt Not Kill As Defeasible Heuristic: Law And Economics And The Debate Over Assisted Suicide, Daniel J. Gilman
Thou Shalt Not Kill As Defeasible Heuristic: Law And Economics And The Debate Over Assisted Suicide, Daniel J. Gilman
Faculty Scholarship
Although the literature addressing medical decisions at the end of life is vast, surprisingly little of it has come from the perspective of law and economics. This article begins with a critical account of one of the very few law and economics-based discussions of physician-assisted suicide (PAS), that developed by Judge Richard Posner in his book, Aging and Old Age. Central to Judge Posner's account is a model of PAS as a sort of technological innovation. What this particular innovation is supposed to bring is a radical reduction in certain critical information costs attending end-of-life decision making. It is …