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Full-Text Articles in Law

Public Regulation And Private Enforcement In A Global Economy: Strategies For Managing Conflict, Hannah L. Buxbaum Jan 2019

Public Regulation And Private Enforcement In A Global Economy: Strategies For Managing Conflict, Hannah L. Buxbaum

Articles by Maurer Faculty

No abstract provided.


Laws, Norms, And The Institutional Analysis And Development Framework, Daniel H. Cole Jan 2017

Laws, Norms, And The Institutional Analysis And Development Framework, Daniel H. Cole

Articles by Maurer Faculty

Elinor Ostrom’s Institutional Analysis and Development (IAD) framework has been described as ‘one of the most developed and sophisticated attempts to use institutional and stakeholder assessment in order to link theory and practice, analysis and policy’. But not all elements in the framework are sufficiently well developed. This paper focuses on one such element: the ‘rules-in-use’ (a.k.a. ‘rules’ or ‘working rules’). Specifically, it begins a long-overdue conversation about relations between formal legal rules and ‘working rules’ by offering a tentative and very simple typology of relations. Type 1: Some formal legal rules equal or approximate the working ...


"Economic Property Rights" As "Nonsense Upon Stilts": A Comment On Hodgson, Daniel H. Cole Jan 2015

"Economic Property Rights" As "Nonsense Upon Stilts": A Comment On Hodgson, Daniel H. Cole

Articles by Maurer Faculty

Hodgson's (2015) critique of extra-legal 'property rights' - in this case, so-called 'economic property rights' - is right on target. This Comment contributes two further points to his critique. First, the notion of 'economic property rights' is based on what Gilbert Ryle (1949) referred to as a 'category mistake', conflating physical possession, which is a brute fact about the world, with the right or entitlement to possession, which is a social or institutional fact that cannot exist in the absence of some social contract, convention, covenant, or agreement. The very notion of a non-institutional 'right' is oxymoronic. Second, the fact that ...


A Way Forward For Tax Law And Economics? A Response To Osofsky's "Frictions, Screening, And Tax Law Design", David Gamage Jan 2014

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

Articles by Maurer Faculty

This Essay responds to Leigh Osofsky's, "Who’s Naughty and Who’s Nice? Frictions, Screening, and Tax Law Design." Osofsky’s analysis suggests that tax rules might be designed so as to take account both of heterogeneity in taxpayers’ tax planning proclivities and of taxpayer characteristics relevant for distribution. By designing tax rules so as to create frictions that differentially impose higher costs on those taxpayers who are more successfully circumventing existing taxes we can perhaps reform our tax system so as to better achieve equitable distribution at lower efficiency costs. This Essay argues that Osofsky's analysis is ...


Undermining Or Promoting Democratic Government?: An Economic And Empirical Analysis Of The Two Views Of Public Sector Collective Bargaining In American Law, Kenneth G. Dau-Schmidt, Mohammad Khan Jan 2014

Undermining Or Promoting Democratic Government?: An Economic And Empirical Analysis Of The Two Views Of Public Sector Collective Bargaining In American Law, Kenneth G. Dau-Schmidt, Mohammad Khan

Articles by Maurer Faculty

No abstract provided.


Charles A. Beard & The Columbia School Of Political Economy: Revisiting The Intellectual Roots Of The Beardian Thesis, Ajay K. Mehrotra Jan 2014

Charles A. Beard & The Columbia School Of Political Economy: Revisiting The Intellectual Roots Of The Beardian Thesis, Ajay K. Mehrotra

Articles by Maurer Faculty

A century after it was first published, Charles A. Beard’s An Economic Interpretation of the Constitution remains a significant and controversial part of constitutional scholarship and history. Just as Beard sought to historicize the Founders as they drafted and adopted the Constitution, this article attempts to historicize Beard as he researched and wrote his classic text on the Constitution. Because Beard was both a graduate student and professor at Columbia University before and while he researched and wrote his book, this article explores the particular influence that Columbia University’s institutional and intellectual climate may have had on Beard ...


The Varieties Of Comparative Institutional Analysis, Daniel H. Cole Jan 2013

The Varieties Of Comparative Institutional Analysis, Daniel H. Cole

Articles by Maurer Faculty

This paper, written as a contribution to a festchrift in honor of Neil Komesar, subjects his "comparative institutional analysis" (CIA) to a comparative analysis with various other social-scientific approaches to CIA.

Neil Komesar is among the very few legal scholars who has taken to heart Ronald Coase's call for comparative institutional analysis (CIA) of alternative "social arrangements." While Komesar has plowed a relatively lonely furrow in the legal academy, scholars from across the social sciences have been engaged in CIA (broadly defined), using various terminologies, methodologies, and evaluative criteria. This paper takes a pluralistic approach to understanding the differences ...


Independent Directors And Shared Board Control In Venture Finance, Brian J. Broughman Jan 2013

Independent Directors And Shared Board Control In Venture Finance, Brian J. Broughman

Articles by Maurer Faculty

In most VC-backed firms neither the entrepreneurs nor the VC investors control the board. Instead control is typically shared with a mutually appointed independent director holding the tie-breaking seat. Contract theory, which treats control as an indivisible right held by one party, does not have a good explanation for this practice. Using a bargaining game similar to final offer arbitration, I show that an independent director as tie-breaker can reduce holdup by moderating each party’s ex post threat position, potentially expanding the range of firms which receive external financing. This project contributes to the literature on incomplete contracting and ...


Book Review. Pollack, S. D., War, Revenue, And State Building: Financing The Development Of The American State, Ajay K. Mehrotra Jan 2012

Book Review. Pollack, S. D., War, Revenue, And State Building: Financing The Development Of The American State, Ajay K. Mehrotra

Articles by Maurer Faculty

No abstract provided.


Law, Politics, And Cost-Benefit Analysis, Daniel H. Cole Jan 2012

Law, Politics, And Cost-Benefit Analysis, Daniel H. Cole

Articles by Maurer Faculty

This Article explores the significant role cost–benefit analysis (CBA) plays in facilitating or impeding legislative and regulatory policy decisions. The Article centers around three case studies of CBAs the EPA prepared under three different presidents: (1) Clinton Administration changes to Clean Air Act air quality standards for ozone and particulate matter; (2) President Obama’s recent decision to suspend the EPA’s reconsideration of the Bush Administration’s air quality standard for ozone; and (3) the George W. Bush Administration’s “Clear Skies” legislative initiative. The first two case studies demonstrate, between them, how well-constructed CBAs can facilitate social-welfare-enhancing ...


The Great Recession, The Resulting Budget Shortfalls, The 2010 Elections And The Attack On Public Sector Collective Bargaining In The United States, Kenneth G. Dau-Schmidt, Winston Lin Jan 2012

The Great Recession, The Resulting Budget Shortfalls, The 2010 Elections And The Attack On Public Sector Collective Bargaining In The United States, Kenneth G. Dau-Schmidt, Winston Lin

Articles by Maurer Faculty

American public sector unions and collective bargaining have been subjected to a vicious attack under the auspices of balancing government budgets, promoting "equity" between private and public employees and limiting the impact of "special interests" on government policy. The American and world financial crisis of 2007 resulted in the Great Recession of 2008 and substantial budget shortfalls for local and national governments world-wide. This financial crisis and the resulting disintegration of aggregate demand and employment are eerily similar to the financial crisis and collapse that led to the Great Depression of the 1930’s. However, unlike the calamity of the ...


Economics, Behavioral Biology, And Law, Jeffrey E. Stake, Owen D. Jones, Erin O'Hara O'Connor Jan 2011

Economics, Behavioral Biology, And Law, Jeffrey E. Stake, Owen D. Jones, Erin O'Hara O'Connor

Articles by Maurer Faculty

This article compares the relevance to law of two unexpectedly similar fields: economics and behavioral biology. It first examines the assumptions, core concepts, methodological tenets, and emphases of the two fields. It then compares the interdisciplinary fields of law and economics, on one hand, with law and behavioral biology, on the other-highlighting not only important similarities but also important differences. The article subsequently explores ways that biological perspectives on human behavior may, among other things, improve economic models and the behavioral insights they generate. The article concludes that although there are important differences between the two fields, the overlaps between ...


The Whole Is Greater Than The Sum Of The Parts: Analyzing Legal Problems In An Endogenous World, Kenneth G. Dau-Schmidt Jan 2011

The Whole Is Greater Than The Sum Of The Parts: Analyzing Legal Problems In An Endogenous World, Kenneth G. Dau-Schmidt

Articles by Maurer Faculty

No abstract provided.


American Economic Development, Managerial Corporate Capitalism, And The Institutional Foundations Of The Modern Income Tax, Ajay K. Mehrotra Jan 2010

American Economic Development, Managerial Corporate Capitalism, And The Institutional Foundations Of The Modern Income Tax, Ajay K. Mehrotra

Articles by Maurer Faculty

Histories of the modern American income tax have generally focused on the role that social and political forces have played in the development of a new tax system. This article seeks to move beyond the social and political determinants to examine the economic factors that facilitated the adoption of the modern, graduated income tax. Without marginalizing the importance of social and political factors, the central aim of this article is to make a modest contribution to the legal and political historiography of the U.S. income tax by highlighting how changing material economic conditions afforded social groups, political reformers, and ...


The Intellectual Foundations Of The Modern American Fiscal State, Ajay K. Mehrotra Jan 2009

The Intellectual Foundations Of The Modern American Fiscal State, Ajay K. Mehrotra

Articles by Maurer Faculty

No abstract provided.


Economic Analysis Of Labor And Employment Law In The New Economy, Kenneth G. Dau-Schmidt, Alan Hyde, Michael Risch, Jagdeep Bhandari, Richard Block Jan 2008

Economic Analysis Of Labor And Employment Law In The New Economy, Kenneth G. Dau-Schmidt, Alan Hyde, Michael Risch, Jagdeep Bhandari, Richard Block

Articles by Maurer Faculty

No abstract provided.


The "Stern Review" And Its Critics: Implications For The Theory And Practice Of Benefit-Cost Analysis, Daniel H. Cole Jan 2008

The "Stern Review" And Its Critics: Implications For The Theory And Practice Of Benefit-Cost Analysis, Daniel H. Cole

Articles by Maurer Faculty

The UK's Treasury's "Stern Review: The Economics of Climate Change" (Oct. 2006) reached dramatically different conclusions and policy recommendations than most earlier economic analyses of climate change. It found that the costs of climate change, as well as the potential net benefits of greenhouse gas reductions, were much higher that previously estimated, and consequently recommended more rapid and extensive cuts in emissions than other economist analysts. The Stern Review estimated that a 1% annual investment of global GDP in mitigation could prevent a 5% (or more) reduction in annual global GDP from climate change harm, forever. A number ...


Lost In Translation: The Economic Analysis Of Law In The United States And Europe, Kenneth G. Dau-Schmidt, Carmen L. Brun Jan 2006

Lost In Translation: The Economic Analysis Of Law In The United States And Europe, Kenneth G. Dau-Schmidt, Carmen L. Brun

Articles by Maurer Faculty

In this Essay, we examine the reasons why the economic analysis of law has not flourished in European countries as it has in the United States. In particular, we focus on three European countries-the United Kingdom, Germany, and France. We argue that differences in culture, the legal system, and the academy have led to differing degrees of success of the law and economics movement in each country. We speculate that, although there is currently less interest in the economic analysis of the law in Europe than in the United States, European interest could dramatically increase if scholars adopt more communitarian ...


Law, Markets And Democracy: A Role For Law In The Neo-Liberal State, Alfred C. Aman Jan 2006

Law, Markets And Democracy: A Role For Law In The Neo-Liberal State, Alfred C. Aman

Articles by Maurer Faculty

Especially after 1980, our belief in and our use of law to solve societal problems seemed to decline precipitously, well beyond the ebb and flow of political trends and tastes. Beginning in earnest in the 1980s, political discourse increasingly treated law and markets primarily in binary terms. You could have one or the other, but not both. More law meant less markets and vice versa. When it came to choosing between law or markets, the tide clearly had shifted. If injustices in the 1970s were greeted with the slogan "there ought to be a law", that approach to solving problems ...


The Law And Economics Of Development And Environment: An Introduction To The Symposium, Daniel H. Cole Jan 2005

The Law And Economics Of Development And Environment: An Introduction To The Symposium, Daniel H. Cole

Articles by Maurer Faculty

No abstract provided.


Envisioning The Modern American Fiscal State: Progressive-Era Economists And The Intellectual Foundations Of The U.S. Income Tax, Ajay K. Mehrotra Jan 2005

Envisioning The Modern American Fiscal State: Progressive-Era Economists And The Intellectual Foundations Of The U.S. Income Tax, Ajay K. Mehrotra

Articles by Maurer Faculty

At the turn of the twentieth century, the U.S. system of public finance underwent a dramatic, structural transformation. The late nineteenth-century system of indirect taxes, associated mainly with the tariff, was eclipsed in the early decades of the twentieth century by a progressive income tax. This shift in U.S. tax policy marked the emergence of a new fiscal polity - one that was guided not simply by the functional and structural need for government revenue but by concerns for equity and economic and social justice. This Article explores the paradigm shift in legal and economic theories that undergirded this ...


Teaching In A Larger Social Context: Using Simulations To Demonstrate Socioeconomic Principles And Relevance To Law, Kenneth G. Dau-Schmidt, Jeffrey E. Stake Jan 2004

Teaching In A Larger Social Context: Using Simulations To Demonstrate Socioeconomic Principles And Relevance To Law, Kenneth G. Dau-Schmidt, Jeffrey E. Stake

Articles by Maurer Faculty

A single action of an individual is highly influenced not only by personal interests and desires, but also by a complex network of social influences. Because of this vast outside social pressure within society, the legal ramifications of individual action must also be studied in a multidimensional way to incorporate these social values. One effective means to do so is to begin linking the socioeconomic paradigm into traditional legal study through the use of teaching simulations. This article brings forth a new method involving hand-on simulations and outlines its necessity within the legal sphere. Through these simulations, students are able ...


Models In Social Science: A Review Of Law And Public Policy: A Socioeconomic Approach, Kenneth G. Dau-Schmidt Jan 2004

Models In Social Science: A Review Of Law And Public Policy: A Socioeconomic Approach, Kenneth G. Dau-Schmidt

Articles by Maurer Faculty

No abstract provided.


High Velocity Labor Economics: A Review Essay Of Working In Silicon Valley: Economic And Legal Analysis Of A High-Velocity Labor Market, Kenneth G. Dau-Schmidt Jan 2004

High Velocity Labor Economics: A Review Essay Of Working In Silicon Valley: Economic And Legal Analysis Of A High-Velocity Labor Market, Kenneth G. Dau-Schmidt

Articles by Maurer Faculty

No abstract provided.


Book Review. Taking Coase Seriously: Neil Komesar On Law's Limits, Daniel H. Cole Jan 2004

Book Review. Taking Coase Seriously: Neil Komesar On Law's Limits, Daniel H. Cole

Articles by Maurer Faculty

No abstract provided.


The Interplay Between Norms And Enforcement In Tax Compliance, Leandra Lederman Jan 2003

The Interplay Between Norms And Enforcement In Tax Compliance, Leandra Lederman

Articles by Maurer Faculty

What will increase individuals' compliance with the federal income tax? There are rich legal, economic, and sociological literatures examining this question. The traditional answer that increased enforcement will increase compliance is supported by both economic modeling and a number of experiments. However, studies show that appeals to normative beliefs about honesty in taxpaying play an important role as well.

A number of scholars have suggested that vigorous enforcement of the tax laws may be counterproductive because it may suggest that noncompliance is the norm. This article argues, in part, that enforcement and a compliance norm are not inconsistent but rather ...


Conflict Of Economic Laws: From Sovereignty To Substance, Hannah Buxbaum Jan 2002

Conflict Of Economic Laws: From Sovereignty To Substance, Hannah Buxbaum

Articles by Maurer Faculty

This article examines how the globalization of economic markets, and attendant changes in international regulatory strategies, challenge the traditional framework of private international law. It examines a variety of developments in the areas of securities, antitrust, and bankruptcy law, analyzing the ways in which they undermine the conception of regulatory power as grounded in the territorial authority of sovereign states. Specifically, the article argues that these changes reflect a shift in conflicts jurisprudence away from the traditional jurisdiction-selecting model and toward a substance-based model, in which a state's economic policy interests can be protected simply through assurance that the ...


Can Evolutionary Science Contribute To Discussions Of Law?, Jeffrey E. Stake Jan 2001

Can Evolutionary Science Contribute To Discussions Of Law?, Jeffrey E. Stake

Articles by Maurer Faculty

Evolutionary Theory can be helpful in understanding the law and determining what it should be. There are two ways in which the evolutionary perspective differs from an economic perspective on law. Not only does the evolutionary approach shift our attention from the world today to the environment of evolutionary adaptation, it shifts our focus from rational individuals to rational genes and from rational behaviors to rational design of mental architecture. Finally, the law of law's leverage makes predictions about the relative elasticities of demand for all sorts of behaviors, including those that did and did not exist in the ...


Privatization And The Democracy Problem In Globalization: Making Markets More Accountable Through Administrative Law, Alfred C. Aman Jan 2001

Privatization And The Democracy Problem In Globalization: Making Markets More Accountable Through Administrative Law, Alfred C. Aman

Articles by Maurer Faculty

No abstract provided.


Labor Law And Industrial Peace: A Comparative Analysis Of The United States, The United Kingdom, Germany, And Japan Under The Bargaining Model, Kenneth G. Dau-Schmidt Jan 2000

Labor Law And Industrial Peace: A Comparative Analysis Of The United States, The United Kingdom, Germany, And Japan Under The Bargaining Model, Kenneth G. Dau-Schmidt

Articles by Maurer Faculty

In this Article, Professor Dau-Schmidt provides a comparative analysis of the labor laws of the United States, the United Kingdom, Germany, and Japan for the purposes of identifying which characteristics of a country's labor laws are likely to reduce strike incidence and intensity and promote industrial peace. To identify which characteristics of a country's law are likely to encourage industrial peace, Professor Dau-Schmidt presents game theory arguments based on his analysis of unions and collective bargaining. Dau-Schmidt then provides a simple empirical test as to the relative success of different countries' laws in advancing industrial peace by comparing ...