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Szerződésértelmezés Hermeneutika És Jogpolitika Között. A Contra Proferentem Szabály [Contract Interpretation Between Hermeneutics And Policy: The Contra Proferentem Rule], Péter Cserne Nov 2009

Szerződésértelmezés Hermeneutika És Jogpolitika Között. A Contra Proferentem Szabály [Contract Interpretation Between Hermeneutics And Policy: The Contra Proferentem Rule], Péter Cserne

Péter Cserne

This paper discusses why contract interpretation is substantially different from the interpretation of literary works and illustrates the argument with the analysis of the contra proferentem rule. It is a substantially revised version of my ‘Policy considerations in contract interpretation: the contra proferentem rule from a comparative law and economics perspective’ (2009)


The New Federalism Attack On Doma: Does The Supreme Court Really Care About States' Rights?, Kent Greenfield Jul 2009

The New Federalism Attack On Doma: Does The Supreme Court Really Care About States' Rights?, Kent Greenfield

Kent Greenfield

No abstract provided.


Bankruptcy Phobia, David A. Skeel Jr. Jul 2009

Bankruptcy Phobia, David A. Skeel Jr.

Faculty Scholarship at Penn Law

As the recent economic crisis has unfolded, bankruptcy has offered possible solutions at several key junctures. The first of these solutions, often referred to as mortgage modification, was geared toward homeowners who faced the loss of their homes in the months—now several years—since the start of the subprime crisis On the corporate side, Chapter 11 was an obvious alternative when large nonbank financial institutions like Bear Stearns and AIG stumbled in 2008. But regulators repeatedly balked, and the one exception to the avoidance of bankruptcy at all costs—Lehman Brothers—was anomalous. This aversion to bankruptcy, which seems ...


The Origins And Costs Of Short-Term Management, Kent Greenfield May 2009

The Origins And Costs Of Short-Term Management, Kent Greenfield

Kent Greenfield

Why is a fixation on the short term a problem for American businesses? One might hasten to answer that management is compensated for short-term successes. Another answer might be that some investors—particularly professional investors—value only the short term and manipulate the market in a particular stock so they can profit on the movement. These answers undoubtedly are part of the answer. But a puzzle remains: why does the market not punish such short-termism? This essay will present a possible answer.


The Supreme Court, Empathy, And The Science Of Decision Making, Kent Greenfield May 2009

The Supreme Court, Empathy, And The Science Of Decision Making, Kent Greenfield

Kent Greenfield

No abstract provided.


Of Big And Small Tents: Arlen Specter As A Dem, And The Obama Storm At Notre Dame, Kent Greenfield Apr 2009

Of Big And Small Tents: Arlen Specter As A Dem, And The Obama Storm At Notre Dame, Kent Greenfield

Kent Greenfield

No abstract provided.


The Neal Report And The Crisis In Antitrust, Herbert J. Hovenkamp Mar 2009

The Neal Report And The Crisis In Antitrust, Herbert J. Hovenkamp

Faculty Scholarship at Penn Law

The Neal Report, which was commissioned by Lyndon Johnson and published in 1967, is rightfully criticized for representing the past rather than the future of antitrust. Its authors completely embraced a theory of competition and industrial organization that had dominated American economic thinking for forty years, but was just in the process of coming to an end. The structure-conduct-performance (S-C-P) paradigm that the Neal Report embodied had in fact been one of the most elegant and most tested theories of industrial organization. The theory represented the high point of structuralism in industrial organization economics, resting on the proposition that certain ...


The Jurisprudential Niche Occupied By Law And Economics, Nicholas Mercuro Jan 2009

The Jurisprudential Niche Occupied By Law And Economics, Nicholas Mercuro

Faculty Publications

This paper describes the jurisprudential niche occupied by the several schools of thought that comprise the field of Law and Economics in present-day legal scholarship. It begins by providing a brief history of law in the U.S.; it highlights the void left in law by the Legal Realists; it then very briefly explores some of the theories that attempted to fill that void including critical legal studies, feminist jurisprudence, and critical race theory. The paper then turns to its main focus - describing the several schools of thought that comprise the field of Law and Economics that has also helped ...


Introducción Al Análisis Económico Del Derecho Administrativo / Introduction To Administrative Law And Economics, Andres Palacios Lleras Jan 2009

Introducción Al Análisis Económico Del Derecho Administrativo / Introduction To Administrative Law And Economics, Andres Palacios Lleras

Andrés Palacios Lleras

El estudio y la enseñanza del derecho administrativo colombiano dejan mucho que desear, especialmente en lo que respecta al estudio del derecho como fenómeno social. Éste tiende a ser presentado como un cuerpo de normas políticamente neutrales, construido a partir de categorías conceptuales muy abstractas, y coherente. Como resultado de ello, asume una posición “normativista” que ignora el contexto social en el que lleva a la producción e interpretación de las normas jurídicas. Este artículo sugiere que un cambio conceptual puede ser muy útil para “curar” al análisis del derecho administrativo de los males que lo aquejan. Sugiere que el ...


Competition Law And The Economy In The Russian Federation, 1990-2006, Reza Rajabiun Jan 2009

Competition Law And The Economy In The Russian Federation, 1990-2006, Reza Rajabiun

Reza Rajabiun

Most developing and transition countries adopted statutes prohibiting anticompetitive agreements and abusive practices during the 1980's and 1990's. The effectiveness of these laws is nevertheless widely debated. This paper contributes to the literature by conducting an event study of the adoption of Russian competition laws in the early years of transition, the subsequent economic developments and the legislative reform process of 2002-2006. An examination of the substantive prohibitions and enforcement data reveals that Russian competition laws relied on complex standards and imposed weak constraints on anticompetitive practices. The more recent shift to simpler and more predictable per se ...


Dirigismo Y Proteccionismo: Las Claves Del Milagro Japonés, Fernando Villaseñor Rodríguez Jan 2009

Dirigismo Y Proteccionismo: Las Claves Del Milagro Japonés, Fernando Villaseñor Rodríguez

Fernando Villaseñor Rodríguez

No abstract provided.


La Administración De Justicia En El Periodo Kamakura, Fernando Villaseñor Rodríguez Jan 2009

La Administración De Justicia En El Periodo Kamakura, Fernando Villaseñor Rodríguez

Fernando Villaseñor Rodríguez

No abstract provided.


Tr-63 La Radio De Transistores Como Paradigma Tecnológico Japonés, Fernando Villaseñor Rodríguez Jan 2009

Tr-63 La Radio De Transistores Como Paradigma Tecnológico Japonés, Fernando Villaseñor Rodríguez

Fernando Villaseñor Rodríguez

No abstract provided.


Tanaka Kakuei Y La Política De Posguerra, Fernando Villaseñor Rodríguez Jan 2009

Tanaka Kakuei Y La Política De Posguerra, Fernando Villaseñor Rodríguez

Fernando Villaseñor Rodríguez

No abstract provided.


La Importancia De La Filosofía Confuciana En El Periodo Ritsu-Ryo, Fernando Villaseñor Rodríguez Jan 2009

La Importancia De La Filosofía Confuciana En El Periodo Ritsu-Ryo, Fernando Villaseñor Rodríguez

Fernando Villaseñor Rodríguez

No abstract provided.


Trinomios Del Pensamiento Jurídico De Preciado Hernández: Ámbitos, Perspectivas Y Fines De La Filosofía Jurídica, Juan Pablo Pampillo Jan 2009

Trinomios Del Pensamiento Jurídico De Preciado Hernández: Ámbitos, Perspectivas Y Fines De La Filosofía Jurídica, Juan Pablo Pampillo

Juan Pablo Pampillo Baliño

No abstract provided.


El Pensamiento Independentista De Fray Melchor De Talamantes Y Su Proyecto De Organización Constitucional, Juan Pablo Pampillo Jan 2009

El Pensamiento Independentista De Fray Melchor De Talamantes Y Su Proyecto De Organización Constitucional, Juan Pablo Pampillo

Juan Pablo Pampillo Baliño

No abstract provided.


Libertad, Confianza Y Afecto Como Fundamentos De La Comunidad De Nuestra Escuela, Juan Pablo Pampillo Baliño Jan 2009

Libertad, Confianza Y Afecto Como Fundamentos De La Comunidad De Nuestra Escuela, Juan Pablo Pampillo Baliño

Juan Pablo Pampillo Baliño

No abstract provided.


La Descodificación Del Derecho Mercantil En México, Juan Pablo Pampillo Jan 2009

La Descodificación Del Derecho Mercantil En México, Juan Pablo Pampillo

Juan Pablo Pampillo Baliño

No abstract provided.


A Közteherviselés (70/I. §) [The Constitutional Duty To Contribute To Public Expenditures. Hungary 1989-2009], Péter Cserne Jan 2009

A Közteherviselés (70/I. §) [The Constitutional Duty To Contribute To Public Expenditures. Hungary 1989-2009], Péter Cserne

Péter Cserne

This is a chapter in the 2 volume commentary on the (pre-2012) Hungarian constitution, edited by Andras Jakab. It provides a legal doctrinal analysis of the constitutional power to tax, as regulated in Art 70/I of the Constitution of the Republic of Hungary (the duty to contribute to public expenditures) and interpreted by the Hungarian Constitutional Court.


Paternalism In Policy: Prospects And Limitations Of An Economic Analysis, Péter Cserne Jan 2009

Paternalism In Policy: Prospects And Limitations Of An Economic Analysis, Péter Cserne

Péter Cserne

No abstract provided.


The Viability Of Antitrust Price Squeeze Claims, Erik Hovenkamp, Herbert J. Hovenkamp Jan 2009

The Viability Of Antitrust Price Squeeze Claims, Erik Hovenkamp, Herbert J. Hovenkamp

Faculty Scholarship at Penn Law

A price squeeze occurs when a vertically integrated firm "squeezes' a rival's margins between a high wholesale price for an essential input sold to the rival, and a low output price to consumers for whom the two firms compete. Price squeezes have been a recognized but controversial antitrust violation for two-thirds of a century. We examine the law and economics of the price squeeze, beginning with Judge Hand's famous discussion in the Alcoa case in 1945. While Alcoa has been widely portrayed as creating a "fairness" or "fair profit" test for unlawful price squeezes, Judge Hand actually adopted ...


United States Competition Policy In Crisis: 1890-1955, Herbert J. Hovenkamp Jan 2009

United States Competition Policy In Crisis: 1890-1955, Herbert J. Hovenkamp

Faculty Scholarship at Penn Law

The development of marginalist, or neoclassical, economics led to a fifty-year long crisis in competition theory. Given an industrial structure with sufficient fixed costs, competition always became "ruinous," forcing firms to cut prices to marginal cost without sufficient revenue remaining to pay off investment. Early neoclassicists such as Alfred Marshall were not able to solve this problem, and as a result many economists were hostile toward the antitrust laws in the early decades of the twentieth century. The ruinous competition debate came to an abrupt end in the early 1930's, when Joan Robinson and particularly Edward Chamberlin developed models ...


Competing Narratives In Corporate Bankruptcy: Debtor In Control Vs. No Time To Spare, David A. Skeel Jr. Jan 2009

Competing Narratives In Corporate Bankruptcy: Debtor In Control Vs. No Time To Spare, David A. Skeel Jr.

Faculty Scholarship at Penn Law

When a company like Chrysler or United Airlines files for bankruptcy, it offers narrative explaining the way out of its predicament. In support of its claim that the business is worth saving, the company may argue that it simply needs time to renegotiate its obligations with its creditors. Alternatively, it may say that asset values are deteriorating rapidly and it is imperative that the bankruptcy court immediately approve a sale of the company, or some other rapid disposition. These two possibilities correspond to the principal resolution narratives in current Chapter 11 bankruptcy practice, which I refer to as Debtor in ...


Neoclassicism And The Separation Of Ownership And Control, Herbert J. Hovenkamp Jan 2009

Neoclassicism And The Separation Of Ownership And Control, Herbert J. Hovenkamp

Faculty Scholarship at Penn Law

"Separation of ownership and control" is a phrase whose history will forever be associated with Adolf A. Berle and Gardiner C. Means' The Modern Corporation and Private Property (1932), as well as with Institutionalist economics, Legal Realism, and the New Deal. Within that milieu the large publicly held business corporation became identified with excessive managerial power at the expense of stockholders, social irresponsibility, and internal inefficiency. Neoclassical economists both then and ever since have generally been critical, both of the historical facts that Berle and Means purported to describe and of the conclusions that they drew. In fact, however, within ...


Human Persons, Human Rights, And The Distributive Structure Of Global Justice, Robert C. Hockett Jan 2009

Human Persons, Human Rights, And The Distributive Structure Of Global Justice, Robert C. Hockett

Cornell Law Faculty Publications

It is common for economically oriented transnational legal theorists to think and communicate mainly in maximizing terms. It is less common for them to notice that each time we speak explicitly of maximizing one thing, we speak implicitly of distributing another thing and equalizing yet another thing. Moreover, we effectively define ourselves and our fellow humans by reference to that which we equalize. For it is in virtue of the latter that our global welfare formulations treat us as "counting" for purposes of globally aggregating and maximizing.

To analyze maximization language on the one hand, and equalization and identification language ...


Making Property Productive: Reorganizing Rights To Real And Equitable Estates In Britain, 1660 To 1830, Gary Richardson Dec 2008

Making Property Productive: Reorganizing Rights To Real And Equitable Estates In Britain, 1660 To 1830, Gary Richardson

Gary Richardson

Between 1660 and 1830, Parliament passed thousands of Acts restructuring rights to real and equitable estates. These estate Acts enabled individuals and families to sell, mortgage, lease, exchange and improve land previously bound by inheritance rules and other legal legacies. The loosening of these legal constraints facilitated the reallocation of land and resources towards higher-value uses. Data reveal correlations between estate Acts, urbanization and economic development during the decades surrounding the Industrial Revolution.


Ripe Standing Vines And The Jurisprudential Tasting Of Matured Legal Wines – And Law & Bananas: Property And Public Choice In The Permitting Process, Donald J. Kochan Dec 2008

Ripe Standing Vines And The Jurisprudential Tasting Of Matured Legal Wines – And Law & Bananas: Property And Public Choice In The Permitting Process, Donald J. Kochan

Donald J. Kochan

From produce to wine, we only consume things when they are ready. The courts are no different. That concept of “readiness” is how courts address cases and controversies as well. Justiciability doctrines, particularly ripeness, have a particularly important role in takings challenges to permitting decisions. The courts largely hold that a single permit denial does not give them enough information to evaluate whether the denial is in violation of law. As a result of this jurisprudential reality, regulators with discretion have an incentive to use their power to extract rents from those that need their permission. Non-justiciability of permit denials ...


Behavioral Economic Issues In American & Islamic Marriage & Divorce Law, Ryan M. Riegg Dec 2008

Behavioral Economic Issues In American & Islamic Marriage & Divorce Law, Ryan M. Riegg

Ryan M. Riegg

The article critiques traditional economic theory, which frequently fails to address issues like "trust" in the forming of both contractual and marital relationships, and addresses problems within both the American and Islamic marriage & divorce systems from a behavioral economic, and comparative, perspective.


El Nuevo Plan De Estudios De Licenciatura De La Escuela Libre De Derecho, Juan Pablo Pampillo Baliño Dec 2008

El Nuevo Plan De Estudios De Licenciatura De La Escuela Libre De Derecho, Juan Pablo Pampillo Baliño

Dr. Juan Pablo Pampillo Baliño

No abstract provided.