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Economics

2011

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Articles 181 - 188 of 188

Full-Text Articles in Law

The Flawed Probabilistic Foundation Of Law & Economics, Alex Stein Dec 2010

The Flawed Probabilistic Foundation Of Law & Economics, Alex Stein

Alex Stein

This Article challenges the mathematical probability system that underlies law and economics and behavioral analysis and argues that many of the core insights of both approaches are irremediably flawed. The Article demonstrates that mathematical probability is only suitable for pure gambles and hence does not provide a useful epistemic tool for analyzing individual decisionmaking. As a result, mathematical probability cannot serve as a useful tool for lawmakers. Mathematical probability, the Article proposes, ought to be replaced with causative probability—a system of reasoning compatible with the causal structure of people’s physical, social and legal environments. Originating from the writings of John …

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Producing Law For Innovation, Gillian K. Hadfield Dec 2010

Producing Law For Innovation, Gillian K. Hadfield

Gillian K Hadfield

In this contribution to the forthcoming Rules for Growth prepared by the Kauffman Task Force on Law, Innovation and Growth, I first discuss why we need to think of legal infrastructure as economic infrastructure requiring focused economic policymaking, what is wrong with our existing legal infrastructure and why we need to change our modes of legal production. I then set out a vision of what greater reliance on market-based production of legal infrastructure could look like. Finally, I suggest some concrete steps that policymakers can take to move us toward a more open, competitive system of legal production. These include …

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Equipping The Garage Guys In Law, Gillian K. Hadfield Dec 2010

Equipping The Garage Guys In Law, Gillian K. Hadfield

Gillian K Hadfield

The twin structural changes of the last few decades—globalization and the emergence of a web-based platform for economic activity--have transformed the economic demand for law. The market for law, however, has struggled to keep up with these changes, showing few signs of the kind of innovation that we see in many other sectors of the new economy. Even our most sophisticated and innovative corporations report difficulty in finding lawyers with the kinds of risk-attuned and creative problem-solving skills that they need (Hadfield 2011). Some large corporate clients have gone so far as to refuse to hire new law firm associates, …

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To Share Or Not To Share: Cancer And What Teachers Should Tell Students About It, Robert A. Eckhart Dec 2010

To Share Or Not To Share: Cancer And What Teachers Should Tell Students About It, Robert A. Eckhart

Robert A. Eckhart

How much personal information to disclose to students is a fundamental question teachers have been asking themselves for decades. How much should teachers tell their students – a lot or a little? How should they tell them –in class, or face-to-face? Should the teacher only tell their students in a limited manner and then not answer questions, or should they be prepared to answer any and all questions the students might have? These are difficult questions, but if the teacher approaches the disclosure in the right way – avoiding irrelevant, overly negative, or offensive disclosures – it can be a …

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2011 Professor's Update To Antitrust Analysis, Problems, Text, And Cases, Philip Areeda, Louis Kaplow, Aaron S. Edlin Dec 2010

2011 Professor's Update To Antitrust Analysis, Problems, Text, And Cases, Philip Areeda, Louis Kaplow, Aaron S. Edlin

Aaron Edlin

No abstract provided.

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Sample Problem-Based Teaching Materials: First Year Contracts, Gillian K. Hadfield Dec 2010

Sample Problem-Based Teaching Materials: First Year Contracts, Gillian K. Hadfield

Gillian K Hadfield

No abstract provided.

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Duress, Péter Cserne Dec 2010

Duress, Péter Cserne

Péter Cserne

This chapter is to appear in Contact Law and Economics, part of the Elgar Encyclopedia of Law and Economics, 2nd ed. Its purpose is to provide an overview of the economic analyses of contractual duress. The focus is on the distinctive features of the economic perspective on the duress doctrine, as developed in the theoretical literature of law and economics. Along with the results of economic analysis, the legal background and some non-economic theories of duress are also briefly presented.

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Blindsight: How We See Disabilities In Tort Litigation, Anne Bloom, Paul Steven Miller Dec 2010

Blindsight: How We See Disabilities In Tort Litigation, Anne Bloom, Paul Steven Miller

Anne Bloom

No abstract provided.

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