Open Access. Powered by Scholars. Published by Universities.®
- Keyword
-
- Behavioral economics (1)
- Customs unions (1)
- Domestic distortion (1)
- Economic theory (1)
- Economics (1)
-
- Electronic records (1)
- Endowment effect (1)
- Endowment theory (1)
- Error cost analysis (1)
- Exchange asymmetries (1)
- Innovation (1)
- Internalization (1)
- International trade (1)
- Inventions (1)
- Journal of Economic Literature (1)
- Landes-Posner-Gould settlement model (1)
- Legislative intent (1)
- Monopolization (1)
- Optimal antitrust penalty (1)
- Optimal law enforcement (1)
- Optimal regime choice (1)
- Ownership (1)
- Plaintiff win rate (1)
- Preemption (1)
- Price discrimination (1)
- Priest-Klein model (1)
- Products liability (1)
- Prospect theory (1)
- Right of property (1)
- Risk-utility analysis (1)
Articles 1 - 6 of 6
Full-Text Articles in Law
Innovation And Optimal Punishment, With Antitrust Applications, Keith N. Hylton, Haizhen Lin
Innovation And Optimal Punishment, With Antitrust Applications, Keith N. Hylton, Haizhen Lin
Faculty Scholarship
This article modifies the optimal punishment analysis by incorporating investment incentives with external benefits. In the models examined, the recommendation that the optimal penalty should internalize the marginal social harm is no longer valid. We focus on antitrust applications. In light of the benefits from innovation, the optimal policy will punish monopolizing firms more leniently than suggested in the standard static model. It may be optimal not to punish the monopolizing firm at all, or to reward the firm rather than punish it. We examine the precise balance between penalty and reward in the optimal punishment scheme.
Against Endowment Theory: Experimental Economics And Legal Scholarship, Greg Klass, Kathryn Zeiler
Against Endowment Theory: Experimental Economics And Legal Scholarship, Greg Klass, Kathryn Zeiler
Faculty Scholarship
Endowment theory holds the mere ownership of a thing causes people to assign greater value to it than they otherwise would. The theory entered legal scholarship in the early 1990s and quickly eclipsed other accounts of how ownership affects valuation. Today, appeals to a generic “endowment effect” can be found throughout the legal literature. More recent experimental results, however, suggest that the empirical evidence for endowment theory is weak at best. When the procedures used in laboratory experiments are altered to rule out alternative explanations, the “endowment effect” disappears. This and other recent evidence suggest that mere ownership does not …
Trial Selection Theory And Evidence, Keith N. Hylton, Haizhen Lin
Trial Selection Theory And Evidence, Keith N. Hylton, Haizhen Lin
Faculty Scholarship
This chapter presents a review of trial selection theory. We use the term “trial selection theory” to refer to models that attempt to explain or predict the characteristics that distinguish cases that are litigated to judgment from those that settle, and the implications of those characteristics for the development of legal doctrine and for important trial outcome parameters, such as the plaintiff win rate. Using this definition, trial selection theory can be said to have started with Priest and Klein (1984).
An Economic Perspective On Preemption, Keith N. Hylton
An Economic Perspective On Preemption, Keith N. Hylton
Faculty Scholarship
This Essay has two goals. The first is to present an economic theory of preemption as a choice among regulatory regimes. The optimal regime choice model is used to generate specific implications for the court decisions on preemption of products liability claims. The second objective is to extrapolate from the regime choice model to consider its implications for broader controversies about preemption.
Cruel, Mean, Or Lavish? Economic Analysis, Price Discrimination And Digital Intellectual Property, James Boyle
Cruel, Mean, Or Lavish? Economic Analysis, Price Discrimination And Digital Intellectual Property, James Boyle
Faculty Scholarship
No abstract provided.
General Equilibrium Theory And International Trade, Jagdish N. Bhagwati
General Equilibrium Theory And International Trade, Jagdish N. Bhagwati
Faculty Scholarship
This volume of Takashi Negishi's excellent essays in the theory of international trade underlines two major phenomena in this field: i) the displacement of the MarshalJian partialequilibriμm tools of analysis (now to be found only in the old-fashioned textbooks) by the general-equilibrium analysis of Mill, Marshan and Edgeworth which culminated in the major work of Meade and others; and ii) the emergence of a creative and ingenious school of Japanese international trade theorists in the last decade (of which Negishi is one of the more eminent members) which has virtually shifted the center of gravity in trade-theoretic research from England …