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Full-Text Articles in Law
Let The Right 'One' Win: Policy Lessons From The New Economics Of Platforms, E. Glen Weyl, Alexander White
Let The Right 'One' Win: Policy Lessons From The New Economics Of Platforms, E. Glen Weyl, Alexander White
Coase-Sandor Working Paper Series in Law and Economics
Many of the leading controversies in competition policy in the last two decades, especially those surrounding the Microsoft case, reflect the challenges posed by platform industries. Unfortunately, too often economists and policymakers have drawn the wron
Agglomerama, Lee Anne Fennell
Agglomerama, Lee Anne Fennell
Coase-Sandor Working Paper Series in Law and Economics
Urbanization presents students of commons dilemmas with a pressing challenge: how to achieve the benefits of proximity among people and land uses while curbing the negative effects of that same proximity. This piece, written for the 2014 BYU Law Review Sy
Well-Being And Public Policy, John Bronsteen, Christopher Buccafusco, Jonathan Masur
Well-Being And Public Policy, John Bronsteen, Christopher Buccafusco, Jonathan Masur
Coase-Sandor Working Paper Series in Law and Economics
Governments rely on certain basic economic metrics and tools to analyze prospective laws and policies and to monitor how well their countries are doing. For decades, critics of such economic measures have argued that they ignore important aspects of value
The Antitrust Analysis Of Rules And Standards For Software Platforms, David S. Evans
The Antitrust Analysis Of Rules And Standards For Software Platforms, David S. Evans
Coase-Sandor Working Paper Series in Law and Economics
Software platforms anchor vast global communities of users, application developers, device manufacturers, content providers, advertisers, and others. They drive innovation by enabling entrepreneurs, often anywhere in the world, to develop “applications” a
Fairness In Law And Economics: Introduction, Lee Anne Fennell, Richard H. Mcadams
Fairness In Law And Economics: Introduction, Lee Anne Fennell, Richard H. Mcadams
Coase-Sandor Working Paper Series in Law and Economics
No abstract provided.
A Welfarist Perspective On Lies, Ariel Porat, Omri Yadlin
A Welfarist Perspective On Lies, Ariel Porat, Omri Yadlin
Coase-Sandor Working Paper Series in Law and Economics
No abstract provided.
How Do Bank Regulators Determine Capital Adequacy Requirements?, Eric A. Posner
How Do Bank Regulators Determine Capital Adequacy Requirements?, Eric A. Posner
Coase-Sandor Working Paper Series in Law and Economics
Minimum capital regulations play a central role in banking regulation. Regulators require banks to maintain capital above a certain level in order to correct incentives to make excessively risky loans and investments. However, it has never been clear how regulators determine how high or low the minimum capital-asset ratio should be. An examination of U.S. regulators’ justifications for five regulations issued over more than 30 years reveals that regulators have never performed (or at least disclosed) a serious economic analysis that would justify the levels that they chose. Instead, regulators appear to have followed a practice of what I call …
The Article Iii Problem In Bankruptcy, Anthony Casey, Aziz Huq
The Article Iii Problem In Bankruptcy, Anthony Casey, Aziz Huq
Coase-Sandor Working Paper Series in Law and Economics
This Article reconsiders the implementation of Article III in the bankruptcy context. Recent rulings limiting the delegation of adjudicative power to non-Article III tribunals have generated only uncertainty and a profusion of litigation. The reason for t
Base Erosion And Profit Shifting: A Simple Conceptual Framework, Dhammika Dharmapala
Base Erosion And Profit Shifting: A Simple Conceptual Framework, Dhammika Dharmapala
Coase-Sandor Working Paper Series in Law and Economics
No abstract provided.
What Do We Know About Base Erosion And Profit Shifting? A Review Of The Empirical Literature, Dhammika Dharmapala
What Do We Know About Base Erosion And Profit Shifting? A Review Of The Empirical Literature, Dhammika Dharmapala
Coase-Sandor Working Paper Series in Law and Economics
The issue of tax-motivated income shifting within multinational firms – or “base erosion and profit shifting” (BEPS) – has attracted increasing global attention in recent years. This paper provides a survey of the empirical literature on this topic. Its emphasis is on reviewing and elucidating what is known about the magnitude of BEPS. The paper discusses different empirical approaches to identifying income shifting, describes existing data sources, and summarizes the findings of the empirical literature. A major theme that emerges from this survey is that in the more recent empirical literature, which uses new and richer sources of data, the …
Does De Jure Judicial Independence Really Matter? A Reevaluation Of Explanations For Judicial Independence, James Melton, Tom Ginsburg
Does De Jure Judicial Independence Really Matter? A Reevaluation Of Explanations For Judicial Independence, James Melton, Tom Ginsburg
Coase-Sandor Working Paper Series in Law and Economics
The relationship between de jure and de facto judicial independence is much debated in the literature on judicial politics. Some studies find no relationship between the formal rules governing the structure of the judiciary and de facto judicial independence, while others find a tight correlation. This article sets out to reassess the relationship between de jure and de facto judicial independence using a new theory and an expanded data set. De jure institutional protections, we argue, do not work in isolation but work conjunctively, so that particular combinations of protections are more likely to be effective than others. We find …
Inequality In The Twenty-First Century (Reviewing Thomas Piketty, Capital In The Twenty-First Century (2014)), Saul Levmore
Inequality In The Twenty-First Century (Reviewing Thomas Piketty, Capital In The Twenty-First Century (2014)), Saul Levmore
Coase-Sandor Working Paper Series in Law and Economics
No abstract provided.
An Empirical Study Of Political Bias In Legal Scholarship, Adam S. Chilton, Eric A. Posner
An Empirical Study Of Political Bias In Legal Scholarship, Adam S. Chilton, Eric A. Posner
Coase-Sandor Working Paper Series in Law and Economics
Law professors routinely accuse each other of making politically biased arguments in their scholarship. They have also helped produce a large empirical literature on judicial behavior that has found that judicial opinions sometimes reflect the ideological
Unbundling Efficient Breach, Maria Bigoni, Stefania Bortolotti, Francesco Parisi, Ariel Porat
Unbundling Efficient Breach, Maria Bigoni, Stefania Bortolotti, Francesco Parisi, Ariel Porat
Coase-Sandor Working Paper Series in Law and Economics
Current law and economics scholarship analyzes efficient breach cases monolithically. The standard analysis holds that breach is efficient when performance of a contract generates a negative surplus for the parties. However, by simplistically grouping efficient breach cases as of a single kind, the prior literature overlooks some important factors that meaningfully distinguish types of efficient breach, such as effects of the breach on productive and allocative efficiency, restraints on the incentive to breach, information-forcing, and competitive effects of the right to breach. We argue that these factors are important for the development of a more nuanced economic theory of efficient …
One-And-A-Half Badges Of Fraud, Douglas G. Baird
One-And-A-Half Badges Of Fraud, Douglas G. Baird
Coase-Sandor Working Paper Series in Law and Economics
Lenders have long included savings clauses in loan documents as a way to minimize exposure to fraudulent conveyance at-tacks. This paper suggests that scope of operation of savings clauses is exceeding small. Those cases in which lenders find themselves exposed to fraudulent conveyance liability are only rarely ones in which a savings clause is of much use. Savings clauses are useful to guard against constructive fraudulent conveyance attacks, but only in environments in which actual intent fraudulent conveyances attacks are also possible and for these savings clauses do little good. Even when in environments in which they might protect a …
Do Constitutional Rights Make A Difference?, Adam S. Chilton, Mila Versteeg
Do Constitutional Rights Make A Difference?, Adam S. Chilton, Mila Versteeg
Coase-Sandor Working Paper Series in Law and Economics
Although the question of whether constitutional rights matter is of great theoretical and practical importance, we know little about whether any constitutional rights actually improve rights in practice. We test the effectiveness of six political rights.
The Use Of Neutralities In International Tax Policy, David A. Weisbach
The Use Of Neutralities In International Tax Policy, David A. Weisbach
Coase-Sandor Working Paper Series in Law and Economics
No abstract provided.
The Costs And Benefits Of Mandatory Securities Regulation: Evidence From Market Reactions To The Jobs Act Of 2012, Dhammika Dharmapala, Vikramaditya S. Khanna
The Costs And Benefits Of Mandatory Securities Regulation: Evidence From Market Reactions To The Jobs Act Of 2012, Dhammika Dharmapala, Vikramaditya S. Khanna
Coase-Sandor Working Paper Series in Law and Economics
The effect of mandatory securities regulation on firm value has been a longstanding concern across law, economics and finance. In 2012, Congress enacted the Jumpstart Our Business Startups (“JOBS”) Act, relaxing disclosure and compliance obligations for a
Reconsidering The Motivations Of The United States' Bilateral Investment Treaty Program, Adam S. Chilton
Reconsidering The Motivations Of The United States' Bilateral Investment Treaty Program, Adam S. Chilton
Coase-Sandor Working Paper Series in Law and Economics
No abstract provided.
Distributionally-Weighted Cost Benefit Analysis: Welfare Economics Meets Organizational Design, David A. Weisbach
Distributionally-Weighted Cost Benefit Analysis: Welfare Economics Meets Organizational Design, David A. Weisbach
Coase-Sandor Working Paper Series in Law and Economics
No abstract provided.
Lapses Of Attention In Medical Malpractice And Road Accidents, Robert D. Cooter, Ariel Porat
Lapses Of Attention In Medical Malpractice And Road Accidents, Robert D. Cooter, Ariel Porat
Coase-Sandor Working Paper Series in Law and Economics
A doctor who lapses and injures her patient, and a driver who lapses and causes an accident, are liable under negligence law for the harm done. But lapse is not necessarily negligence, since reasonable people lapse from time to time. We show that tort liability for "reasonable" lapses distorts doctors’, drivers’, and manufacturers’ incentives to take care. Furthermore, such liability provides potential injurers with incentives to substitute activities which are less prone to lapses with activities which are more prone to lapses, even if such substitution is inefficient. We propose several solutions to the inefficiencies that result from liability for …
Nuisance Suits, William Hubbard
Nuisance Suits, William Hubbard
Coase-Sandor Working Paper Series in Law and Economics
This paper develops a simple but general model of negative-expected-value (NEV) suit and settlement given symmetric information. It accounts for the roles of the merits, litigation costs, and bargaining power; incorporates complaints and answers for which parties' investments in pleading detail are endogenously determined; permits strategic default by the defendant; and nests several existing models of NEV litigation as special cases. It generates testable, counterintuitive, empirical predictions and facilitates normative analysis. For example, the model predicts that plausibility pleading standards will have modest effects in deterring low-merit suits but may be harmful to plaintiffs and defendants settling stronger cases.
Cost-Benefit Analysis Of Financial Regulations: A Response To Criticisms, Eric A. Posner, E. Glen Weyl
Cost-Benefit Analysis Of Financial Regulations: A Response To Criticisms, Eric A. Posner, E. Glen Weyl
Coase-Sandor Working Paper Series in Law and Economics
Financial regulators should use cost-benefit analysis (CBA) to evaluate financial regulations. Finance is an ideal domain for CBA because the direct costs and benefits of financial activity can be easily monetized, and a huge amount of data exists for calculating the relevant valuations. John Coates and others have argued that in fact the valuations are too difficult to determine because of unique features of financial markets that distinguish them from other types of markets where CBA is used. We respond that these features are present in other markets, and that financial valuations are difficult to determine at present only because …
Does The Constitutional Amendment Rule Matter At All? Amendment Cultures And The Challenges Of Measuring Amendment Difficulty, Tom Ginsburg, James Melton
Does The Constitutional Amendment Rule Matter At All? Amendment Cultures And The Challenges Of Measuring Amendment Difficulty, Tom Ginsburg, James Melton
Coase-Sandor Working Paper Series in Law and Economics
No abstract provided.
A Study Of The Risks Of Contract Ambiguity, Preston Torbert
A Study Of The Risks Of Contract Ambiguity, Preston Torbert
Coase-Sandor Working Paper Series in Law and Economics
No abstract provided.
The Laws Of War And Public Opinion: An Experimental Study, Adam S. Chilton
The Laws Of War And Public Opinion: An Experimental Study, Adam S. Chilton
Coase-Sandor Working Paper Series in Law and Economics
Research examining whether the laws of war change state behavior has produced conflicting results, and limitations of observational studies have stalled progress on the topic. I have conducted a survey experiment to bring new evidence to the debate. I directly test whether a mechanism hypothesized to drive compliance with international law—public opinion—creates pressure to comply with the laws of war. The results provide qualified support to research suggesting that democracies may comply with the laws of war when there is the expectation of reciprocity, and demonstrate the potential of using experimental methods to study the laws of war.
Partition And Revelation, Yun-Chien Chang, Lee Anne Fennell
Partition And Revelation, Yun-Chien Chang, Lee Anne Fennell
Coase-Sandor Working Paper Series in Law and Economics
No abstract provided.
Economic Aspects Of Bitcoin And Other Decentralized Public-Ledger Currency Platforms, David S. Evans
Economic Aspects Of Bitcoin And Other Decentralized Public-Ledger Currency Platforms, David S. Evans
Coase-Sandor Working Paper Series in Law and Economics
A number of internet-based digital currency platform based on decentralized public ledgers have started since the introduction of the blockchain concept by the founder of Bitcoin in 2008. An important element of these public ledger platforms is an incentive system that elicits efforts from a distributed global workforce to verify and record transactions on the public ledger and a governance system for the platform. The economic efficiency and possibly viability of a public ledger platform ultimately depend on the design of these incentive and governance systems. Even if a decentralized public ledger were a more efficient technology for conducting financial …
The Futility Of Cost Benefit Analysis In Financial Disclosure Regulation, Omri Ben-Shahar, Carl E. Schneider
The Futility Of Cost Benefit Analysis In Financial Disclosure Regulation, Omri Ben-Shahar, Carl E. Schneider
Coase-Sandor Working Paper Series in Law and Economics
No abstract provided.
Deference Mistakes, Jonathan Masur, Lisa Larrimore Ouellette
Deference Mistakes, Jonathan Masur, Lisa Larrimore Ouellette
Coase-Sandor Working Paper Series in Law and Economics
This Article begins with what should seem a relatively straightforward proposition: it is impossible to fully understand the holding of a case without understanding its “deference regime”—the standard of review or burden of proof that governs the case. If a court holds in the context of a habeas petition that a constitutional right was not “clearly established,” that does not mean that the court would hold that the right does not exist were it writing on a blank slate. If a court refuses to invalidate a granted patent, which is presumed valid and can only be held invalid upon a …