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2014 Full-Text Articles 1798 Authors 383167 Downloads 102 Institutions

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2014 full-text articles. Page 1 of 59.

Who Bleeds When The Wolves Bite? A Flesh-And-Blood Perspective On Hedge Fund Activism And Our Strange Corporate Governance System, Leo E. Strine Jr. 2017 University of Pennsylvania

Who Bleeds When The Wolves Bite? A Flesh-And-Blood Perspective On Hedge Fund Activism And Our Strange Corporate Governance System, Leo E. Strine Jr.

Faculty Scholarship

This paper examines the effects of hedge fund activism and so-called wolf pack activity on the ordinary human beings—the human investors—who fund our capital markets but who, as indirect of owners of corporate equity, have only limited direct power to ensure that the capital they contribute is deployed to serve their welfare and in turn the broader social good.

Most human investors in fact depend much more on their labor than on their equity for their wealth and therefore care deeply about whether our corporate governance system creates incentives for corporations to create and sustain jobs for them ...


Law And Identifiability, Daphna Lewinsohn-Zamir, Ilana Ritov, Tehila Kogut 2017 Hebrew University of Jerusalem

Law And Identifiability, Daphna Lewinsohn-Zamir, Ilana Ritov, Tehila Kogut

Indiana Law Journal

Psychological studies have shown that people react either more generously or more punitively toward identified individuals than toward unidentified ones. This phenomenon, named the identifiability effect, has received little attention in the legal literature, despite its importance for the law. As a prime example, while legislators typically craft rules that would apply to unidentified people, judges ordinarily deal with identified individuals. The identifiability effect suggests that the outcomes of these two forms of lawmaking may differ, even when they pertain to similar facts and situations.

This Article is a preliminary investigation into the relevance of the identifiability effect for law ...


Dictation And Delegation In Securities Regulation, Usha Rodrigues 2017 University of Georgia School of Law

Dictation And Delegation In Securities Regulation, Usha Rodrigues

Indiana Law Journal

When Congress undertakes major financial reform, either it dictates the precise con-tours of the law itself or it delegates the bulk of the rule making to an administrative agency. This choice has critical consequences. Making the law self-executing in federal legislation is swift, not subject to administrative tinkering, and less vulnerable than rule making to judicial second-guessing. Agency action is, in contrast, deliberate, subject to ongoing bureaucratic fiddling, and more vulnerable than statutes to judicial challenge.

This Article offers the first empirical analysis of the extent of congressional delegation in securities law from 1970 to the present day, examining nine ...


Our Principled Constitution, Mitchell N. Berman 2017 University of Pennsylvania Law School

Our Principled Constitution, Mitchell N. Berman

Faculty Scholarship

Suppose that one of us contends, and the other denies, that transgender persons have constitutional rights to be treated in accord with their gender identity. It appears that we are disagreeing about “what the law is.” And, most probably, we disagree about what the law is on this matter because we disagree about what generally makes it the case that our constitutional law is this rather than that.

Constitutional theory should provide guidance. It should endeavor to explain what gives our constitutional rules the contents that they have, or what makes true constitutional propositions true. Call any such account a ...


Bail Reform: New Directions For Pretrial Detention And Release, Megan Stevenson, Sandra G. Mayson 2017 University of Pennsylvania

Bail Reform: New Directions For Pretrial Detention And Release, Megan Stevenson, Sandra G. Mayson

Faculty Scholarship

Our current pretrial system imposes high costs on both the people who are detained pretrial and the taxpayers who foot the bill. These costs have prompted a surge of bail reform around the country. Reformers seek to reduce pretrial detention rates, as well as racial and socioeconomic disparities in the pretrial system, while simultaneously improving appearance rates and reducing pretrial crime. The current state of pretrial practice suggests that there is ample room for improvement. Bail hearings are often cursory, with no defense counsel present. Money-bail practices lead to high rates of detention even among misdemeanor defendants and those who ...


From Treaties To International Commitments: The Changing Landscape Of Foreign Relations Law, Jean Galbraith 2017 University of Pennsylvania

From Treaties To International Commitments: The Changing Landscape Of Foreign Relations Law, Jean Galbraith

Faculty Scholarship

Sometimes the United States makes international commitments in the manner set forth in the Treaty Clause. But far more often it uses congressional-executive agreements, sole executive agreements, and soft law commitments. Foreign relations law scholars typically approach these other processes from the perspective of constitutional law, seeking to determine the extent to which they are constitutionally permissible. In contrast, this Article situates the myriad ways in which the United States enters into international commitments as the product not only of constitutional law, but also of international law and administrative law. Drawing on all three strands of law provides a rich ...


Governance By Contract: The Implications For Corporate Bylaws, Jill E. Fisch 2017 University of Pennsylvania Law School

Governance By Contract: The Implications For Corporate Bylaws, Jill E. Fisch

Faculty Scholarship

Boards and shareholders are increasing using charter and bylaw provisions to customize their corporate governance. Recent examples include forum selection bylaws, majority voting bylaws and advance notice bylaws. Relying on the contractual conception of the corporation, Delaware courts have accorded substantial deference to board-adopted bylaw provisions, even those that limit shareholder rights.

This Article challenges the rationale for deference under the contractual approach. With respect to corporate bylaws, the Article demonstrates that shareholder power to adopt and amend the bylaws is, under Delaware law, more limited than the board’s power to do so. As a result, shareholders cannot effectively ...


The Assessment Of The Impacts Of Differently-Designed Tax And Expenditure Limitations (Tels) On Municipal Government Revenues: A Game Theoretic Approach, Sungho Park 2017 University of Nebraska at Omaha

The Assessment Of The Impacts Of Differently-Designed Tax And Expenditure Limitations (Tels) On Municipal Government Revenues: A Game Theoretic Approach, Sungho Park

Student Research and Creative Activity Fair

Nearly every state in the US imposes some form of limitation on local fiscal decisions – typically property taxes. The effects of tax and expenditure limitations (TELs) on fiscal outcomes have received significant attention by scholars, particularly since passage of California’s Proposition 13. The impact of TELs, however, remains an open empirical question, particularly at the municipal level. Do municipal governments with varying types of TELs, changing TEL structures, or no TELs experience different fiscal outcomes? Scholars and practitioners have attempted to answer these questions; however, the existing literature has at least two limitations. First, the extant literature fails to ...


A Framework For Measuring The Spatial Equity In The Distribution Of Public Transportation Benefits, Seyyed Amir Hosein Mortazavi, Meisam Akbarzadeh 2017 Isfahan University of Technology

A Framework For Measuring The Spatial Equity In The Distribution Of Public Transportation Benefits, Seyyed Amir Hosein Mortazavi, Meisam Akbarzadeh

Journal of Public Transportation

This paper proposes that an equitable transit system requires that the geographical distribution of transit service benefits conform to the geographical distribution of the citizens with the greatest need for public transportation. This is the essence of vertical equity. This study calculated “connectivity power,” which reflects public transit service quality in each traffic analysis zone (TAZ) in a city to indicate the amount of benefit that TAZ is receiving from the transit system. The number of carless citizens in each TAZ was also calculated as an index of need to the public transit services in that area. Conformity of need ...


The Separation Of Corporate Law And Social Welfare, William W. Bratton 2017 University of Pennsylvania Law School

The Separation Of Corporate Law And Social Welfare, William W. Bratton

Faculty Scholarship

A half century ago, corporate legal theory pursued an institutional vision in which corporations and the law that creates them protect people from the ravages of volatile free markets. That vision was challenged on the ground during the 1980s, when corporate legal institutions and market forces came to blows over questions concerning hostile takeovers. By 1990, it seemed like the institutions had won. But a different picture has emerged as the years have gone by. It is now clear that the market side really won the battle of the 1980s, succeeding in entering a wedge between corporate law and social ...


Regulating By Robot: Administrative Decision Making In The Machine-Learning Era, Cary Coglianese, David Lehr 2017 University of Pennsylvania Law School

Regulating By Robot: Administrative Decision Making In The Machine-Learning Era, Cary Coglianese, David Lehr

Faculty Scholarship

Machine-learning algorithms are transforming large segments of the economy, underlying everything from product marketing by online retailers to personalized search engines, and from advanced medical imaging to the software in self-driving cars. As machine learning’s use has expanded across all facets of society, anxiety has emerged about the intrusion of algorithmic machines into facets of life previously dependent on human judgment. Alarm bells sounding over the diffusion of artificial intelligence throughout the private sector only portend greater anxiety about digital robots replacing humans in the governmental sphere. A few administrative agencies have already begun to adopt this technology, while ...


Incomplete Takings, Abraham Bell, Gideon Parchomovsky 2017 University of San Diego

Incomplete Takings, Abraham Bell, Gideon Parchomovsky

Faculty Scholarship

Incomplete takings are vital and extremely common. Yet, they present unique challenges that cannot be resolved by standard rules of eminent domain. In particular, incomplete, or partial, takings may result in the creation of suboptimal parcels, and even unusable and unmarketable ones. Additionally, partial takings create nettlesome assessment problems that do not arise when parcels are taken as a whole. Finally, incomplete takings engender opportunities for inefficient strategic behavior on the part of the government after the partial taking has been carried out. Current partial takings jurisprudence fails to resolve these problems, and, in some instances even exacerbates them.

In ...


The Empty Idea Of “Equality Of Creditors”, David A. Skeel Jr. 2017 University of Pennsylvania Law School

The Empty Idea Of “Equality Of Creditors”, David A. Skeel Jr.

Faculty Scholarship

For two hundred years, the equality of creditors norm—the idea that similarly situated creditors should be treated similarly—has been widely viewed as the most important principle in American bankruptcy law, rivaled only by our commitment to a fresh start for honest but unfortunate debtors. I argue in this Article that the accolades are misplaced. Although the equality norm once was a rough proxy for legitimate concerns, such as curbing self-dealing, it no longer plays this role. Nor does it serve any other beneficial purpose.

Part I of this Article traces the historical emergence and evolution of the equality ...


A Taxonomy Of Independent Electoral Reapportionment Systems, James Ruley 2017 Indiana University Maurer School of Law

A Taxonomy Of Independent Electoral Reapportionment Systems, James Ruley

Indiana Journal of Constitutional Design

This paper addresses a means of checking legislative gerrymandering, which I have called the Independent Electoral Reapportionment Commission (IERC). Its purpose is to prevent self-interested politicians from drawing biased constituency lines. While scholars have researched gerrymandering, few scholars have researched commissions designed to limit such gerrymandering, and no comprehensive work details the global means of accomplishing this goal.

Thus, the purpose of this paper is not to normatively prescribe the best practices for composing and empowering an IERC, but rather to descriptively show how different countries conduct this process. While Part II makes some determinations about which commissions may conceptually ...


Report Of The Delaware Criminal Law Recodification Project, Paul H. Robinson, Matthew Kussmaul, Ilya Rudyak, Criminal Law Research Group 2017 University of Pennsylvania Law School

Report Of The Delaware Criminal Law Recodification Project, Paul H. Robinson, Matthew Kussmaul, Ilya Rudyak, Criminal Law Research Group

Faculty Scholarship

In 1973, during the “first wave” of American criminal law recodification efforts following the publication of the Model Penal Code, Delaware adopted a new criminal code. While it represented a dramatic improvement over the law it replaced, its initial clarity and utility were greatly diminished by subsequent piecemeal legislation. Delaware’s current criminal code is lengthy, inconsistent, and replete with duplicative and outdated offenses that impose disproportional punishments. This process of criminal code deterioration is not unique to Delaware and plagues other U.S. jurisdictions. In 2015, however, stakeholders in Delaware’s criminal justice system initiated a code revision process ...


Yale’S Environmental Performance Index: The Construction And Use Of A Composite Index For Global Sustainability, Zach Wendling 2017 FES

Yale’S Environmental Performance Index: The Construction And Use Of A Composite Index For Global Sustainability, Zach Wendling

Yale Day of Data

No abstract provided.


Mapping American Criminal Law Variations Across The 50 States: Ch. 20 Statutory Rape, Paul H. Robinson, Tyler Scot Williams 2017 University of Pennsylvania Law School

Mapping American Criminal Law Variations Across The 50 States: Ch. 20 Statutory Rape, Paul H. Robinson, Tyler Scot Williams

Faculty Scholarship

It is common for criminal law scholars from outside the United States to discuss the “American rule” and compare it to the rule of other countries. As this volume makes clear, however, there is no such thing as an “American rule.” Because each of the states, plus the District of Columbia and the federal system, have their own criminal law, there are fifty-two American criminal codes.

American criminal law scholars know this, of course, but they too commonly speak of the “general rule” as if it reflects some consensus or near consensus position among the states. But the truth is ...


Strict Liability's Criminogenic Effect, Paul H. Robinson 2017 University of Pennsylvania Law School

Strict Liability's Criminogenic Effect, Paul H. Robinson

Faculty Scholarship

It is easy to understand the apparent appeal of strict liability to policymakers and legal reformers seeking to reduce crime: if the criminal law can do away with its traditional culpability requirement, it can increase the likelihood of conviction and punishment of those who engage in prohibited conduct or bring about prohibited harm or evil. And such an increase in punishment rate can enhance the crime-control effectiveness of a system built upon general deterrence or incapacitation of the dangerous. Similar arguments support the use of criminal liability for regulatory offenses. Greater punishment rates suggest greater compliance.

But this analysis fails ...


Mapping American Criminal Law Variations Across The 50 States: Ch. 14 Insanity Defense, Paul H. Robinson, Tyler Scot Williams 2017 University of Pennsylvania Law School

Mapping American Criminal Law Variations Across The 50 States: Ch. 14 Insanity Defense, Paul H. Robinson, Tyler Scot Williams

Faculty Scholarship

It is common for criminal law scholars from outside the United States to discuss the “American rule” and compare it to the rule of other countries. As this volume makes clear, however, there is no such thing as an “American rule.” Because each of the states, plus the District of Columbia and the federal system, have their own criminal law, there are fifty-two American criminal codes.

American criminal law scholars know this, of course, but they too commonly speak of the “general rule” as if it reflects some consensus or near consensus position among the states. But the truth is ...


Mapping American Criminal Law Variations Across The 50 States: Ch. 5 Felony-Murder Rule, Paul H. Robinson, Tyler Scot Williams 2017 University of Pennsylvania Law School

Mapping American Criminal Law Variations Across The 50 States: Ch. 5 Felony-Murder Rule, Paul H. Robinson, Tyler Scot Williams

Faculty Scholarship

It is common for criminal law scholars from outside the United States to discuss the “American rule” and compare it to the rule of other countries. As this volume makes clear, however, there is no such thing as an “American rule.” Because each of the states, plus the District of Columbia and the federal system, have their own criminal law, there are fifty-two American criminal codes.

American criminal law scholars know this, of course, but they too commonly speak of the “general rule” as if it reflects some consensus or near consensus position among the states. But the truth is ...


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