Social and Behavioral Sciences Commons^™

"Agreeing To Disagree": Filling Gaps In Deliberately Incomplete Contracts, Omri Ben-Shahar

Law & Economics Working Papers Archive: 2003-2009

This Article develops a new standard for gap filling in incomplete contracts. It focuses on an important class of situations in which parties leave their agreement deliberately incomplete, with the intent to further negotiate and resolve the remaining issues. In these situations, neither the traditional no-enforcement result nor the usual gap filling approaches accord with the parties’ partial consent. Instead, the Article develops the concept of pro-defendant gap-fillers, under which each party is granted an option to enforce the transaction supplemented with terms most favorable (within reason) to the other party. A deliberately incomplete contract with pro-defendant gap fillers transforms …

Why We Need The Independent Sector: The Behavior, Law, & Ethics Of Not-For-Profit Hospitals, Jill R. Horwitz

Law & Economics Working Papers Archive: 2003-2009

Among the major forms of corporate ownership, the not-for-profit ownership form is distinct in its behavior, legal constraints, and moral obligations. A new empirical analysis of the American hospital industry, using eleven years of data for all urban general hospitals in the country, shows that corporate form accounts for large differences in the provision of specific medical services. Not-for-profit hospitals systematically provide both private and public goods that are in the public interest, and that other forms fail to provide. Two hypotheses are proposed to account for the findings, one legal and one moral. While no causal claims are made, …

On The "Bitter Quarrel" Between Economics And Its Enemies, Sandra J. Peart

Jepson School of Leadership Studies articles, book chapters and other publications

Economics has long had its enemies. The question is, why? What, precisely, is it about economics that its critics oppose? William Coleman seeks to tell the story of «anti-economics», «to take its measure» (p. 3), and then finally to defend economics from these attacks. His is a broad, sweeping study that uses a wide lens, panoramically over time, to survey the opposition. The crisis in economics, edited by Edward Fullbrook, provides us instead with a detailed snapshot of a recent sort of anti-economics - the Post-Autistic Economics (PAE) movement that originated among French economics students in 2000. Both serve to …

Cuba's Energy Challenge: Fueling The Engine Of Future Economic Growth, Jorge R. Piñón

Institute for Cuban & Cuban-American Studies Occasional Papers

No abstract provided.

Rules, Principles, And The Accounting Crisis In The United States, William W. Bratton

All Faculty Scholarship

The Sarbanes-Oxley Act and the Securities Exchange Commission move too quickly ·when they prod the Financial Accounting Standards Board, the standard setter for US GAAP, to move immediately to a principles-based system. Priorities respecting reform of corporate reporting in the US need to be ordered more carefully. Incentive problems impairing audit performance should be solved first through institutional reform insulating the audit from the negative impact of rent-seeking and solving adverse selection problems otherwise affecting audit practice. So long as auditor independence and management incentives respecting accounting treatments remain suspect. the US reporting system holds out no actor plausibly positioned …

Trends And Comparisons In Higher Education Economics: How Has Kentucky Fared?, William Hoyt

CBER Research Report

No abstract provided.

The Archaeology Of Ancient State Economies, Michael E. Smith

Michael E Smith

No abstract provided.

The Cost Of Conscience: Quantifying Our Charitable Burden In An Era Of Globalization, Frank A. Pasquale

Faculty Scholarship

Development economists have long debated the proper targets for foreign aid contributions from wealthy countries. Philosophers like Peter Singer and Peter Unger now suggest that these countries' citizens have a parallel moral responsibility to tithe a portion of their income directly for the relief of the suffering of the poorest. These thinkers would prefer a systematic global redistribution of income - some public mechanism for accomplishing worldwide what the tax systems of egalitarian social democratic states accomplish. But they all realize that such global governance is unlikely to come about in any of our lifetimes. So they turn their attention …

Review Of Northern Naval Superiority And The Economics Of The American Civil War By David G. Surdam, Jeffrey Rogers Hummel

Faculty Publications

No abstract provided.

Coastal Empire Economic Monitor, 1st Quarter, 2004, Armstrong Atlantic State University Center For Regional Analysis

Coastal Empire Economic Monitor

The Coastal Empire Economic Indicators are designed to provide continuously updating quarterly snapshots of the Savannah Metropolitan Statistical Area economy. The coincident index measures the current economic heartbeat of the region. The leading index provides a short term forecast of the region’s economic activity in six to nine months.

The Negro Science Of Exchange: Classical Economics And Its Chicago Revival, David M. Levy, Sandra J. Peart

Jepson School of Leadership Studies articles, book chapters and other publications

For analytical purposes, are economic agents—humans—the same or not? In this chapter, we argue that, historically, the debate between those who trusted in markets and those who did not followed logically from different answers to this questions. Starting with Adam Smith, classical economists held that humans are the same in their capacity for language and trade. They concluded that since markets are useful for some agents, they are beneficial for all of us. But the supposition of homogeneous competence was widely questioned in the nineteenth century but those who held that significant differences exist among humans, only some of whom …

Sozialpolitik Anders Denken. Das Verursacherprinzip – Von Der Umweltpolitischen Zur Sozialpolitischen Anwendung, Isidor Wallimann, Esteban Piñeiro

Books

The “polluter pays” principle in environmental law assumes that the actor would reduce or avoid adverse effects of his actions if he had to bear the consequences of those actions (internalization of effects). Such internalization can generally be done in two ways: either by avoiding or eliminating the harmful effects or by wearing the financial consequences of the injury. It is therefore on the one hand to have an incentive effect, on the other to a compensatory effect.

Pineiro and Wallimann apply these societal cost principles from the environmental world to the social realm, where social problems can be seen …

Pari Passu And A Distressed Sovereign's Rational Choices, William W. Bratton

All Faculty Scholarship

No abstract provided.

Coastal Empire Economic Monitor, 2nd Quarter, 2004, Armstrong Atlantic State University Center For Regional Analysis

Coastal Empire Economic Monitor

The Coastal Empire Economic Indicators are designed to provide continuously updating quarterly snapshots of the Savannah Metropolitan Statistical Area economy. The coincident index measures the current economic heartbeat of the region. The leading index provides a short term forecast of the region’s economic activity in six to nine months.

Coastal Empire Economic Monitor, 3rd Quarter, 2004, Armstrong Atlantic State University Center For Regional Analysis

Coastal Empire Economic Monitor

The Coastal Empire Economic Indicators are designed to provide continuously updating quarterly snapshots of the Savannah Metropolitan Statistical Area economy. The coincident index measures the current economic heartbeat of the region. The leading index provides a short term forecast of the region’s economic activity in six to nine months.

Coastal Empire Economic Monitor, 4th Quarter, 2004, Armstrong Atlantic State University Center For Regional Analysis

Coastal Empire Economic Monitor

The Coastal Empire Economic Indicators are designed to provide continuously updating quarterly snapshots of the Savannah Metropolitan Statistical Area economy. The coincident index measures the current economic heartbeat of the region. The leading index provides a short term forecast of the region’s economic activity in six to nine months.

Econometric Analyses Of U.S. Abortion Policy: A Critical Review, Jonathan Klick

All Faculty Scholarship

No abstract provided.

Functional Law And Economics: The Search For Value-Neutral Principles Of Lawmaking, Francesco Parisi, Jonathan Klick

All Faculty Scholarship

No abstract provided.

"Not An Average Human Being": How Economics Succumbed To Racial Accounts Of Economic Man, Sandra J. Peart, David M. Levy

Jepson School of Leadership Studies articles, book chapters and other publications

In this chapter, we shall show how the attacks on the doctrine of human homogeneity succeeded—how, late in the century, economists came to embrace accounts of racial heterogeneity entailing different capacities of optimization.¹ We attribute the demise of the classical tradition largely to the ill-understood influence of anthropologists and eugenicists² and to a popular culture that served to disseminate racial theories visually and in print. Specifically, W. R. Greg, James Hunt, and Francis Galton all attacked the analytical postulate of homogeneity that characterized classical economics from Adam Smith³ through John Stuart Mill. Greg cofounded the eugenics movement …

Gaming Delaware, William W. Bratton

All Faculty Scholarship

No abstract provided.

Human Nature: An Economic Perspective, Vernon L. Smith

Economics Faculty Articles and Research

An economist writing on the topic of human nature is surely expected to talk about decision making by narrowly self-interested rational agents.

Review Of Northern Naval Superiority And The Economics Of The American Civil War By David G. Surdam, Jeffrey Rogers Hummel

Jeffrey Rogers Hummel

No abstract provided.

Cost Estimation When Time And Resources Are Limited: The Brief Datcap, Michael T. French, M. Christopher Roebuck, A. Thomas Mclellan

Michael T. French

The Drug Abuse Treatment Cost Analysis Program (DATCAP) was designed in the early 1990s as a research guide to collect and analyze financial data from addiction treatment programs. The addiction research community could clearly benefit from a version of the DATCAP that reduced the time and effort required for its administration without compromising the integrity of its cost estimates. This paper introduces the Brief DATCAP and presents some preliminary findings. Initial feedback from respondents suggests that the Brief DATCAP is understandable, and easier and quicker to complete than the DATCAP. More importantly, preliminary results indicate that cost estimates from the …

Anatomy, Physiology And Psychology Of Desert Destruction, David A. Bainbridge

David A Bainbridge

Off road vehicle damage continues to expand in the California deserts. This 2004 presentation explores the causes and possible methods for reducing destruction. Protecting and restoring the desert is not a technical problem but an economic/accounting problem.