Digital Commons Network^™

An Introduction To The Law & Economics Of Information, Tim Wu

Faculty Scholarship

This paper reviews the literature related to the properties of information and legal implications of same, making three observations:

First, scholars have extended a public good model of information to an ever-increasing number of fields where law and information intersect. An incomplete list includes intellectual property, securities regulation, contract theory, consumer protection, communications, and the study of free speech.

Second, scholars have sharply questioned whether, in practice, information actually has the characteristics of a public good. In particular, the claim that information is intrinsically impossible to exclude non-payers from has no clear basis, a fact that potentially undermines theoretical support …

How International Institutions Evolve, Anu Bradford

Faculty Scholarship

Economic theory suggests that international institutions cannot simultaneously widen and deepen. There is an inevitable trade-off between the benefits of site and the costs of heterogeneity. Consequently, institutions ought to be either small and deep or, alternatively, large and shallow. Yet in reality, we observe that international institutions embrace new members while concurrently pursuing deeper cooperation. This Article seeks to explain how institutions evolve over time in light of this size/heterogeneity trade-off It examines the strategic responses of members of institutions to heterogeneity costs and identifies two distinct yet related strategies that allow states to pursue gains from cooperation while …

The Tax Reform Road Not Taken – Yet, Michael J. Graetz

Faculty Scholarship

The United States has traveled a unique tax policy path, avoiding value added taxes (VATs), which have now been adopted by every OECD country and 160 countries worldwide. Moreover, many U.S. consumption tax advocates have insisted on direct personalized taxes that are unlike taxes used anywhere in the world. This article details a tax reform plan that uses revenues from a VAT to substantially reduce and reform our nation’s tax system. The plan would (1) enact a destination-based VAT; (2) use the revenue produced by this VAT to finance an income tax exemption of $100,000 of family income and to …

Digit Ratio And Risk Taking: Evidence From A Large, Multi-Ethnic Sample, Pablo Brañas-Garza, Matteo M. Galizzi, Jeroen Nieboer

ESI Working Papers

Using a large (n=543) multi-ethnic sample of laboratory subjects, we systematically investigate the link between the digit ratio (the ratio of the length of the index finger to the length of the ring finger, also called 2D:4D ratio) and two measures of individual risk taking: (i) risk preferences over lotteries with real monetary incentives and (ii) self-reported risk attitude. Previous studies have found that the digit ratio, a proxy for pre-natal testosterone exposure, correlates with risk taking in some subject samples, but not others. In our sample, we find, first, that the right-hand digit ratio is significantly associated with risk …

Dynamic Optimization And Conformity In Health Behavior And Life Enjoyment Over The Life Cycle, Hernán Bejarano, Hillard Kaplan, Stephen Rassenti

ESI Working Papers

This article examines individual and social influences on investments in health and enjoyment from immediate consumption. We report the results of a lab experiment that mimics the problem of health investment over a lifetime, building on Grossman’s (1972a, 1972b) theoretical framework. Subjects earn money through the experiment in proportion to the sum of the life enjoyment they have consumed. However, income in each period is a function of previous health investments, so there is a dynamic optimum for maximizing earnings through the appropriate expenditures on life enjoyment and health in each period. In order to model social effects in the …

Accounting Standards And Financial Market Stability: An Experimental Examination, Shengle Lin, Glenn Pfeiffer, David Porter

ESI Working Papers

We examine the effect on asset mispricing of different accounting methods in an experimental asset market characterized by bubbles and crashes. In particular, we study three alternative asset value reporting treatments: (1) Fair Value (also known as Mark-to-Market – M2M), (2) Historical Cost (HC) and (3) Marked to Fundamental Value (M2F). In addition, each of these treatments is replicated in two different financial leverage conditions. In the first condition (No Loan) traders must purchase assets from their available cash balances without the option of borrowing. In the second condition, (Loan), traders are given the option of taking out loans based …

Reaching Out For Green Policies: National Environmental Policies In The Wto Legal Order, Petros C. Mavroidis

Faculty Scholarship

The WTO does not squarely address the issue of jurisdictional ambit of national policies (affecting trade). And yet, absent some agreement as to what trading nations can and cannot do, the WTO loses much of its effectiveness. In the absence of explicit regulation of the issue in the WTO contract, one would reasonably expect WTO Members to behave in line with the postulates governing allocation of jurisdiction embedded in public international law. WTO practice evidences neither an explicit acceptance nor a refusal of these rules.

Us Federal Climate Change Law In Obama’S Second Term, Michael B. Gerrard, Shelley Welton

Faculty Scholarship

This commentary details the United States’ progress in advancing climate change law since President Barrack Obama’s re-election in 2012, in spite of congressional dysfunction and opposition. It describes how the Obama administration is building upon earlier regulatory efforts by using existing statutory authority to regulate greenhouse gas emissions from both new and existing power plants. It also explains the important role the judiciary has played in facilitating more robust executive actions, while at the same time courts have rejected citizen efforts to force judicial remedies for the problem of climate change. Finally, it suggests some reasons why climate change has …

Market Structure And Political Law: A Taxonomy Of Power, Zephyr Teachout, Lina M. Khan

Faculty Scholarship

The goal of this Article is to create a way of seeing how market structure is innately political. It provides a taxonomy of ways in which large companies frequently exercise powers that possess the character of governance. Broadly, these exercises of power map onto three bodies of activity we generally assign to government: to set policy, to regulate markets, and to tax. We add a fourth category – which we call "dominance," after Brandeis – as a kind of catchall describing the other political impacts. The activities we outline will not always fit neatly into these categories, nor do all …

The American Dream, Deferred: Contextualizing Property After The Foreclosure Crisis, Priya S. Gupta

Maryland Law Review

No abstract provided.

Apportioning Liability In Maryland Tort Cases: Time To End Contributory Negligence And Joint And Several Liability, Donald G. Gifford, Christopher J. Robinette

Maryland Law Review

No abstract provided.

Preserving Preservation: Long Green Valley Association, Conservation Easements, And Charitable Trust Doctrine, Alyssa J. Domzal

Maryland Law Review

No abstract provided.

Tributes To Professor Susan Leviton

Maryland Law Review

No abstract provided.

Deference, Chenery, And Foia, Margaret B. Kwoka

Maryland Law Review

No abstract provided.

Problem-Solving Courts And Pragmatism, Richard C. Boldt

Maryland Law Review

No abstract provided.

Bad Medicine: Ftc V. Actavis, Inc. And The Missed Opportunity To Resolve The Pay-For-Delay Problem, Susan Schipper

Maryland Law Review

No abstract provided.

Systemic Harms And Shareholder Value, John Armour, Jeffrey N. Gordon

Faculty Scholarship

The financial crisis has demonstrated serious flaws in the corporate governance of systemically important financial firms. In particular, the norm that managers should seek to maximize shareholder value, as measured by the stock price, proves to be a faulty guide for managerial action in systemically important firms. This is not only because the failure of such firms will have spillovers that defy the cost-internalization of the tort system, but also because these spillovers will harm their own majoritarian shareholders. The interests of diversified shareholders fundamentally diverge from the interests of managers and other controllers because the failure of a systemically …

Metabolic Reprogramming Induced By Ketone Bodies Diminishes Pancreatic Cancer Cachexia, Surendra K. Shukla, Teklab Gebregiworgis, Vinee Purohit, Nina V. Chaika, Venugopal Gunda, Prakash Radhakrishnan, Kamiya Mehla, Iraklis I. Pipinos, Robert Powers, Fang Yu, Pankaj K. Singh

Journal Articles: Eppley Institute

BACKGROUND: Aberrant energy metabolism is a hallmark of cancer. To fulfill the increased energy requirements, tumor cells secrete cytokines/factors inducing muscle and fat degradation in cancer patients, a condition known as cancer cachexia. It accounts for nearly 20% of all cancer-related deaths. However, the mechanistic basis of cancer cachexia and therapies targeting cancer cachexia thus far remain elusive. A ketogenic diet, a high-fat and low-carbohydrate diet that elevates circulating levels of ketone bodies (i.e., acetoacetate, β-hydroxybutyrate, and acetone), serves as an alternative energy source. It has also been proposed that a ketogenic diet leads to systemic metabolic changes. Keeping in …

Survivorship Analysis For Osteosarcoma And Ewing’S Sarcoma In Children And Adolescents At A Single Pediatric Institution: Comparison To Seer Data, Chittalsinh M. Raulji, Hope Pritchett, Matthew Stark, Kenneth Ward, Velasco Cruz, Jaime Morales

Journal Articles: Pediatrics

Primary malignant bone tumors account for approximately 6% of all childhood malignancies. Osteosarcoma (OS) and Ewing’s sarcoma (ES) are the most common and have an annual incidence of 8.7 per million under the age of 20 years. The mean 5-year survival for OS and ES has been 61% and 60% respectively. The survival for OS and ES has not significantly improved for past 20 years.

We examined the cases of OS and ES, treated at Children’s Hospital of New Orleans (CHNOLA) from 1999-2012. Comparison to national survival data from the Survival, Epidemiological and End Results (SEER) study was done. The …

Systemic Barriers To Effective Assistance Of Counsel In Plea Bargaining, Peter A. Joy, Rodney J. Uphoff

Scholarship@WashULaw

In a trio of recent cases, Padilla v. Kentucky, Missouri v. Frye, and Lafler v. Cooper, the U.S. Supreme Court has focused its attention on defense counsel's pivotal role during the plea bargaining process . At the same time that the Court has signaled its willingness to consider ineffective assistance of counsel claims at the plea stage, prosecutors are increasingly requiring defendants to sign waivers that include waiving all constitutional and procedural errors, even unknown ineffective assistance of counsel claims such as those that proved successful in Padilla and Frye. Had Jose Padilla and Galin Frye been forced to sign …

The Equal Employment Opportunity Commission And Structural Reform Of The American Workplace, Margo Schlanger, Pauline Kim

Scholarship@WashULaw

In 2011, the United States Supreme Court struck down a class action suit alleging that Wal-Mart stores discriminated against female employees in pay and promotion decisions, making it more difficult to obtain certification of private employment discrimination class actions. As a result, the role of the Equal Employment Opportunity Commission in seeking structural reform of the workplace, always of substantial influence, has gained in comparative importance. Yet there is remarkably little written about the EEOC’s large-scale injunctive cases. This Article addresses this major gap in scholarship. Using both qualitative case studies and a new quantitative data-set, we test existing theories …

Big Data Ethics, Neil M. Richards, Jonathan H. King

Scholarship@WashULaw

We are on the cusp of a “Big Data” Revolution, in which increasingly large datasets are mined for important predictions and often surprising insights. The predictions and decisions this revolution will enable will transform our society in ways comparable to the Industrial Revolution. We are now at a critical moment; big data uses today will be sticky and will settle both default norms and public notions of what is “no big deal” regarding big data predictions for years to come.

In this paper, we argue that big data, broadly defined, is producing increased powers of institutional awareness and power that …

Four Privacy Myths, Neil M. Richards

Scholarship@WashULaw

Any discussion about privacy today inevitably confronts a series of common arguments about the futility of privacy in our digital age. "Privacy is Dead," we hear, and "people (especially young ones) don’t care about privacy." What’s more, privacy just protects bad behavior because those of us with "nothing to hide have nothing to fear." And anyway, the argument goes, new privacy laws would be bad policy since "privacy is bad for business."

There are other common claims, but these four are perhaps the most common. They are also myths, and in this essay I show why. First, privacy can’t be …

Intellectual Property Geographies, Peter K. Yu

Faculty Scholarship

Written for a special issue on intellectual property and geography, this article outlines three sets of mismatches that demonstrate the vitality, utility and richness of analyzing intellectual property developments through a geographical lens. The article begins by examining economic geography, focusing on the tensions and conflicts between territorial borders and sub-national innovation (including those relating to obligations under the WTO TRIPS Agreement). This article then examines the oft-found mismatch between political geography and cultural geography. Illustrating this mismatch is the challenge of protecting traditional knowledge and traditional cultural expressions. The article concludes by exploring the growing mismatch between legal geography …

Enforcement Discretion And Executive Duty, Zachary S. Price

Faculty Scholarship

No abstract provided.

The Federal Arbitration Act As Procedural Reform, Hiro Aragaki

Faculty Scholarship

Recent Supreme Court decisions such as American Express v. Italian Colors Restaurant, 133 S. Ct. 2304 (2013), and AT&T Mobility v. Concepcion, 131 S. Ct. 1740 (2011), represent dramatic developments with implications that extend far beyond the arbitration context. These decisions are a product of what the author refers to as the “contract model” of the Federal Arbitration Act (FAA). Heretofore largely unquestioned, the contract model posits the FAA’s original and dominant purpose as the promotion of private ordering in dispute resolution, as free as pos- sible from state regulation. The model has, in turn, helped courts and commenta- tors …

Governing By Guidance: Civil Rights Agencies And The Emergence Of Language Rights In Schools And Workplaces, Ming Hsu Chen

Faculty Scholarship

On the fiftieth anniversary of the Civil Rights Act of 1964, this Article asks federal civil rights laws evolved to incorporate the needs of non-English how speakers following landmark immigration reform (the 1965 Hart-Cellar Act) that led to unprecedented migration from Asia and Latin America. Based on a comparative study of the emergence of language rights in schools and work­ places from 1965 to 1980, the Article demonstrates that regulatory agencies used nonbinding guidances to interpret the undefined statutory term "national origin discrimination" during their implementation of the Civil Rights Act of 1964. Their efforts facilitated the creation of language …

Immigration And Cooperative Federalism: Toward A Doctrinal Framework, Ming Hsu Chen

Faculty Scholarship

No abstract provided.

The Contribution Of Forced Medical Retirement To Symptoms Of Depression, Anxiety And Stress In Law Enforcement Officers, Kimberley Blackmon

Theses and Dissertations

This research explored whether a statistically significant difference exists between symptoms of depression, anxiety and stress in police officers who were forced into medical retirement as compared to those who retired after years of completed service. The sample population of retired police officers as well as the appropriate testing instruments for these targeted individuals is discussed. In addition, the dissertation addresses how the survey determined the type of retirement they were subjected to (voluntary or involuntary) and any depressive or other psychological symptoms since that retirement. The findings from this study show that a statistically significant difference exists in the …

Policing Terrorists In The Community, Sahar F. Aziz

Faculty Scholarship

Twelve years after the September 11th attacks, countering domestic terrorism remains a top priority for federal law enforcement agencies. Using a variety of reactive and preventive tactics, law enforcement seeks to stop terrorism before it occurs. Towards that end, community policing, developed in the 1990s to combat violent crime in inner city communities, is being adopted as a means of collaborating with Muslim communities and local police to combat "Islamist homegrown terrorism." Developed in response to paramilitary policing models, community policing is built upon the notion that effective policing requires mutual trust and relationships among local law enforcement and the …