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Articles 1 - 30 of 46
Full-Text Articles in Law and Economics
The Visible Hand: Coordination Functions Of The Regulatory State, Robert B. Ahdieh
The Visible Hand: Coordination Functions Of The Regulatory State, Robert B. Ahdieh
Robert B. Ahdieh
We live in a coordination economy. As one surveys the myriad challenges of modern social and economic life, an ever increasing proportion is defined not by the need to reconcile competing interests, but by the challenge of getting everyone on the same page. Conflict is not absent in these settings. It is not, however, the determinative factor in shaping our behaviors and resulting interactions. That essential ingredient, instead, is coordination.
Such coordination is commonly understood as the function of the market. As it turns out, however, optimal coordination will not always emerge, as if led “by an invisible hand.” Even …
Law's Signal: A Cueing Theory Of Law In Market Transition, Robert B. Ahdieh
Law's Signal: A Cueing Theory Of Law In Market Transition, Robert B. Ahdieh
Robert B. Ahdieh
Securities markets are commonly assumed to spring forth at the intersection of an adequate supply of, and a healthy demand for, investment capital. In recent years, however, seemingly failed market transitions - the failure of new markets to emerge and of existing markets to evolve - have called this assumption into question. From the developed economies of Germany and Japan to the developing countries of central and eastern Europe, securities markets have exhibited some inability to take root. The failure of U.S. securities markets, and particularly the New York Stock Exchange, to make greater use of computerized trading, communications, and …
Dialectical Regulation, Robert B. Ahdieh
Dialectical Regulation, Robert B. Ahdieh
Robert B. Ahdieh
While theories of regulation abound, woefully inadequate attention has been given to growing patterns of "intersystemic" and "dialectical" regulation in the world today. In this rapidly expanding universe of interactions, independent regulatory agencies, born of autonomous jurisdictions, nonetheless face a combination of jurisdictional overlap with, and regulatory dependence on, one another. Here, the cross-jurisdictional interaction of regulators is no longer the voluntary interaction embraced by transnationalists; it is, instead, an unavoidable reality of acknowledgement and engagement, potentially culminating in the integration of discrete sets of regulatory rules into a collective whole.
Such patterns of regulatory engagement are increasingly evident, across …
Tying And Bundled Discounts: An Equilibrium Analysis Of Antitrust Liability Tests, Melanie S. Williams
Tying And Bundled Discounts: An Equilibrium Analysis Of Antitrust Liability Tests, Melanie S. Williams
Melanie S. Williams
Courts have struggled with determining when bundled discounts constitute unlawfully anticompetitive behavior. The current circuit split reflects an absence of consensus. This lack of legal guidance creates uncertainty in the market, with firms being given inconsistent – and sometimes contradictory - standards on how to avoid antitrust liability.
For the most part, we consider a standard paradigm for analyzing bundled discounts. Suppose that there are two firms. Firm 1 produces a monopoly product, A, and also another product, B, which competes with another version of B produced by Firm 2. The concern is the extent to which the price paid …
A Conceptual Framework For The Regulation Of Cryptocurrencies, Omri Y. Marian
A Conceptual Framework For The Regulation Of Cryptocurrencies, Omri Y. Marian
Omri Y Marian
This Essay proposes a conceptual framework for the regulation of transactions involving cryptocurrencies. Cryptocurrencies offer tremendous opportunities for innovation and development but are also uniquely suited to facilitate illicit behavior. The regulatory framework suggested herein is intended to support (or at least not impair) cryptocurrencies’ innovative potential. At the same time, it aims to disrupt cryptocurrencies’ criminal utility. To achieve these purposes, this Essay proposes a regulatory framework that imposes costs on the characteristics of cryptocurrencies that make them especially useful for criminal behavior (in particular, anonymity) but does not impose costs on characteristics that are at the core of …
Take It To The Limit: The Illegal Regulation Prohibiting The Take Of Any Threatened Species Under The Endangered Species Act, Jonathan Wood
Take It To The Limit: The Illegal Regulation Prohibiting The Take Of Any Threatened Species Under The Endangered Species Act, Jonathan Wood
Jonathan Wood
The Endangered Species Act forbids the “take” – any activity that adversely affects – any member of an endangered species, but only endangered species. The statute also provides for the listing of threatened species, i.e. species that may become endangered, but protects them only by requiring agencies to consider the impacts of their projects on them. Shortly after the statute was adopted, the U.S. Fish and Wildlife Service and National Marine Fisheries Service reversed Congress’ policy choice by adopting a regulation that forbids the take of any threatened species. The regulation is not authorized by the Endangered Species Act, but …
Bridgefunding Is Crowdfunding For Startups Across The Private Equity Gap, Seth C. Oranburg
Bridgefunding Is Crowdfunding For Startups Across The Private Equity Gap, Seth C. Oranburg
Seth C Oranburg
Title III of the JOBS Act of 2012, which attempts to encourage entrepreneurship by allowing startups and small business to sell stock to the general public over the Internet through “crowdfunding,” is completely backwards. Its ceiling should be a floor—the $1 million limit should be inverted. By capping startups at raising $1 million from crowdfunding, the JOBS Act does not address the private equity gap, a fundamental problem in startup markets, and exposes unsophisticated investors to risk and fraud. This Article presents a regulatory framework premised on “bridgefunding,” an approach that this article develops to protect new investors by encouraging …
Dirty Debts Sold Dirt Cheap, Dalie Jimenez
Dirty Debts Sold Dirt Cheap, Dalie Jimenez
Dalie Jimenez
More than 77 million Americans have a debt in collections. Many of these debts will be sold to debt buyers for pennies, or fractions of pennies, on the dollar. This Article details the perilous path that debts travel as they move through the collection ecosystem. Using a unique dataset of 84 consumer debt purchase and sale agreement, it examines the manner in which debts are sold, oftentimes as simple data on a spreadsheet, devoid of any documentary evidence. It finds that in many contracts, sellers disclaim all warranties about the underlying debts sold or the information transferred. Sellers also sometimes …
A Framework For Understanding Property Regulation And Land Use Control From A Dynamic Perspective, Donald J. Kochan
A Framework For Understanding Property Regulation And Land Use Control From A Dynamic Perspective, Donald J. Kochan
Donald J. Kochan
Cooling-Off Periods And The Law [En Español] Periodos En Enfriamiento Y El Derecho, Daniel A. Monroy
Cooling-Off Periods And The Law [En Español] Periodos En Enfriamiento Y El Derecho, Daniel A. Monroy
Daniel A Monroy C
No abstract provided.
Regulatory Institutions Of The Global South: Why Are They Different And What Can Be Done About It?, Yugank Goyal
Regulatory Institutions Of The Global South: Why Are They Different And What Can Be Done About It?, Yugank Goyal
Yugank Goyal
Developing countries suffer from underperforming regulatory agencies compared to those in the developed world. The paper attempts to theorize general reasons behind such divergence. It argues that the differences lie in developing countries’ (a) higher priorities for redistribution, (b) structurally different institutional endowments, especially at informal level, and (c) limited informational channels. The paper proposes that a multi-stakeholder (with increased emphasis on judiciary and civil society) approach has potential to address the shortcomings. It tests these claims through studying cases of telecom and electricity regulation in India.
Revenue Adequacy: The Good, The Bad And The Ugly, John W. Mayo
Revenue Adequacy: The Good, The Bad And The Ugly, John W. Mayo
John W Mayo
Abstract: The concept of “revenue adequacy” made its way into the legal governance of the rail industry prior to the industry’s substantial deregulation via the Staggers Rail Act in 1980. This seemingly quiet feature of rail legislation has, however, increasingly grown central to the regulatory-deregulatory fault line in the 21st century rail industry. This paper examines the concept of revenue adequacy, a benchmark of United States railroad firms' financial performance calculated annually by regulatory oversight bodies. The paper addresses questions around the origins, measurement, informational provisions, value and policy benefits and costs of revenue adequacy. An examination of the historical …
El Principio De Precaución En La Jurisprudencia Constitucional Colombiana: Incertidumbre Científica Y Omisiones Selectivas, Camilo Ossa, Daniel Monroy
El Principio De Precaución En La Jurisprudencia Constitucional Colombiana: Incertidumbre Científica Y Omisiones Selectivas, Camilo Ossa, Daniel Monroy
Camilo Ossa
En el presente artículo se propone hacer una lectura crítica al principio de precaución, buscando profundizar, de manera específica, algunas cuestiones que minan el equilibrio del principio como instrumento guía para la toma decisiones de quien corresponde tomarlas. Así, el artículo está estructurado en dos partes, (i) por un lado se aborda la cuestión teórica, desarrollando la concepción que, en la doctrina, se tiene frente al principio, teniendo en cuenta dos aspectos esenciales como son: las implicaciones que supone afronta la “incertidumbre científica”, elemento fundamental del principio; y, la defensa de la tesis según la cual en muchos casos la …
Curb Your Enthusiasm For Pigouvian Taxes, Victor Fleischer
Curb Your Enthusiasm For Pigouvian Taxes, Victor Fleischer
Victor Fleischer
Pigouvian (or "corrective") taxes have been proposed or enacted on dozens of products and activities that may be harmful in excess: carbon, gasoline, fat, sugar, guns, cigarettes, alcohol, traffic, zoning, executive pay, and financial transactions, among others. Academics of all political stripes are mystified by the public’s inability to see the merits of using Pigouvian taxes more frequently to address serious social harms.
This enthusiasm for Pigouvian taxes should be tempered. A Pigouvian tax is easy to design—as a uniform excise tax—if one assumes that each individual causes the same amount of harm with each incremental increase in activity on …
Gambling On Our Financial Future: How The Federal Government Fiddles While State Common Law Is A Safer Bet To Prevent Another Financial Collapse, Brian M. Mccall
Gambling On Our Financial Future: How The Federal Government Fiddles While State Common Law Is A Safer Bet To Prevent Another Financial Collapse, Brian M. Mccall
Brian M McCall
Internet Nondiscrimination Principles: Commercial Ethics For Carriers And Search Engines, Frank Pasquale
Internet Nondiscrimination Principles: Commercial Ethics For Carriers And Search Engines, Frank Pasquale
Frank A. Pasquale
Unaccountable power at any layer of online life can stifle innovation elsewhere. Dominant search engines rightly worry that carriers will use their control of the physical layer of internet infrastructure to pick winners among content and application providers. Though they advocate net neutrality, they have been much less quick to recognize the threat to openness and fair play their own practices may pose. Just as dominant search engines fear an unfairly tiered online world, they should be required to provide access to their archives and indices in a nondiscriminatory manner. If dominant search engines want carriers to disclose their traffic …
Nuevo Sistema De Amparo, Alejandro Faya Rodriguez
Nuevo Sistema De Amparo, Alejandro Faya Rodriguez
Alejandro Faya Rodriguez
No abstract provided.
A Negative Externality By Any Other Name: Using Emissions Caps As Models For Constraining Dead-Weight Costs Of Regulation, Scott A. Shepard
A Negative Externality By Any Other Name: Using Emissions Caps As Models For Constraining Dead-Weight Costs Of Regulation, Scott A. Shepard
Scott A. Shepard
Emissions caps work on a simple and compelling premise. Regulated entities, in the process of creating something desirable, like energy, create and expel some problematic by-product, such as carbon. They do this because they particularly reap a significant set of benefits (e.g., profits, market share, job security) from their efforts, while only diffusely and incidentally, along with the rest of society, suffering the harms caused by their emissions. These emissions, paid for primarily by the rest of society, are called negative externalities. Emissions-cap regimes are designed to make regulated entities more directly accountable for the costs of their emissions and …
Reguladores Y Autonomía, Alejandro Faya Rodriguez
Reguladores Y Autonomía, Alejandro Faya Rodriguez
Alejandro Faya Rodriguez
No abstract provided.
Artículo 129 Fracción Xiii, Alejandro Faya Rodriguez
Artículo 129 Fracción Xiii, Alejandro Faya Rodriguez
Alejandro Faya Rodriguez
No abstract provided.
Incentivos Y Más Incentivos, Alejandro Faya Rodriguez
Incentivos Y Más Incentivos, Alejandro Faya Rodriguez
Alejandro Faya Rodriguez
No abstract provided.
Hacer (Bien) Las Reformas, Alejandro Faya Rodriguez
Hacer (Bien) Las Reformas, Alejandro Faya Rodriguez
Alejandro Faya Rodriguez
No abstract provided.
Protocolo De Madrid, Alejandro Faya Rodriguez
Protocolo De Madrid, Alejandro Faya Rodriguez
Alejandro Faya Rodriguez
No abstract provided.
Expropiaciones, Alejandro Faya Rodriguez
Expropiaciones, Alejandro Faya Rodriguez
Alejandro Faya Rodriguez
No abstract provided.
La Suprema Corte Y La Cofetel, Alejandro Faya Rodriguez
La Suprema Corte Y La Cofetel, Alejandro Faya Rodriguez
Alejandro Faya Rodriguez
No abstract provided.
The Moral Hazard Problem In Global Economic Regulation, Frank J. Garcia
The Moral Hazard Problem In Global Economic Regulation, Frank J. Garcia
Frank J. Garcia
Global regulation of international business transactions presents a particular form of the moral hazard problem. Global firms use economic and political power to manipulate state and state-controlled multilateral regulation to preserve their opportunity to externalize the social costs of global economic activity with impunity. Unless other actors can effectively counter this at the national and global regulatory levels, globalization re-creates the conditions for under-regulated or “robber baron” capitalism at the global level. This model of economic activity has been rejected at the national level by the same modern democratic capitalist states which currently dominate globalization, creating a crisis of legitimacy …
Arreglos Institucionales De Los Órganos De Mejora Regulatoria: Una Propuesta De Reforma Para La Cofemer, Alejandro Faya Rodriguez
Arreglos Institucionales De Los Órganos De Mejora Regulatoria: Una Propuesta De Reforma Para La Cofemer, Alejandro Faya Rodriguez
Alejandro Faya Rodriguez
No abstract provided.
Iniciativa Anticorrupción, ¿Paso Firme?, Alejandro Faya Rodriguez
Iniciativa Anticorrupción, ¿Paso Firme?, Alejandro Faya Rodriguez
Alejandro Faya Rodriguez
No abstract provided.
North Dakota Expertise: A Chance To Lead In Economically And Environmentally Sustainable Hydraulic Fracturing, Joshua P. Fershee
North Dakota Expertise: A Chance To Lead In Economically And Environmentally Sustainable Hydraulic Fracturing, Joshua P. Fershee
Joshua P Fershee
North Dakota is uniquely, and largely favorably, situated to benefit from hydraulic fracturing, and has already reaped many such benefits. During the recent economic crisis, North Dakota’s housing market has been stable, unemployment has been remarkably low, and the state has maintained a strong and increasing budget surplus at a time when many states were operating budget deficits. But these benefits have not come without some costs.
This Article seeks to put the current North Dakota oil boom in context and help provide a path for developing legislative and regulatory policies that prolong and reinforce sustainable and beneficial oil development. …
Diseño Institucional De Órganos Reguladores En México, Alejandro Faya Rodriguez
Diseño Institucional De Órganos Reguladores En México, Alejandro Faya Rodriguez
Alejandro Faya Rodriguez
No abstract provided.