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Articles 1 - 2 of 2
Full-Text Articles in Law
Negligence, Causation And Information, Stephen G. Marks
Negligence, Causation And Information, Stephen G. Marks
Faculty Scholarship
This note suggests a model to unify, in a simple information-based framework, the notion of negligence and the various notions of causation. In effect, the model demonstrates that negligence, probabilistic cause and cause-in-fact represent an identical concept applied to different information sets. This note uses the unified framework to develop a simple algorithm for the practical application of the principles of causation in the law of negligence.
Efficient Markets, Costly Information, And Securities Research, Jeffrey N. Gordon, Lewis A. Kornhauser
Efficient Markets, Costly Information, And Securities Research, Jeffrey N. Gordon, Lewis A. Kornhauser
Faculty Scholarship
Courts, administrative policy makers and legal scholars have widely embraced the theory that well-developed markets are efficient. In this Article, Professors Gordon and Kornhauser cast doubt on the wisdom of reliance on the efficient market hypothesis as applied to various areas of corporate law. Their charge is that legal decision makers and scholars have misunderstood the assumptions and limitations of the theory and have neglected recent critical economics scholarship. Professors Gordon and Kornhauser begin by detailing the assertions of the hypothesis in relation to the workings of securities markets, focusing on various asset pricing models used to test the hypothesis …