Law Commons^™

Norms Of Pride And Resistance: Psychology, Virtue, And The Blackmail Puzzle - Draft - 12-31-1992, Wendy J. Gordon

Scholarship Chronologically

Blackmail law can impact on the belief structures (moralisms) and behaviors of both the potential criminal and the potential victim; it also can affect the conceptual and value structures of lawyers and other societal onlookers. These issues surrounding what one might call the "symbolic" virtues of outlawing the act of blackmail may help to explain why blackmail law seems relatively unconcerned with the well-being of the victim.

The Gains From Faith In An Unfaithful Agent: Settlement Conflicts Between Defendants And Liability Insurers, Michael J. Meurer

Faculty Scholarship

A pervasive problem in the settlement of liability litigation arises because liability insurers bundle their promise to indemnify the insured with a promise to represent the insured in settlement and litigation [see, e.g., Beckwith Machinery Co. v. Travelers Indemnity Co., 638 F.Supp. 1179 (W.D. Pa. 1986)]. Standard policies not only require the insurer to pay for legal representation but, more importantly, give the insurer the privilege of controlling the litigation and settlement process. The problem is how to resolve the conflict of interest between the insurer and the insured that may arise during settlement negotiations. This conflict is manifest when …

African Economic Community And The Promotion Of Intra-African Trade, Muna Ndulo

Cornell Law Faculty Publications

No abstract provided.

A Law & Economics Perspective On A "Traditional" Torts Case: Insights For Classroom And Courtroom, Robert H. Lande

All Faculty Scholarship

This article is from a symposium, "Five Approaches to Legal Reasoning in the Classroom: Contrasting Perspectives on O'Brien v. Cunard S.S. Co. Ltd.," 57 Missouri L. Rev. 345 (1992). The symposium contains five articles that analyze this case from, respectively, traditionalist, Law & Economics, Critical Legal Studies, Feminist, and Critical Race Theories perspectives.

This article analyzes the O'Brien case from a Law & Economics perspective. It does so in a manner suitable for presentation in a Torts class or a Law & Economics class. It explains the basic terminology and approach. It analyzes the economics underlying the vaccination requirement, whether …

Corporate Law Through An Antitrust Lens, Edward B. Rock

All Faculty Scholarship

No abstract provided.

Tax Expenditure Budgets: A Critical View, Jeffrey S. Lehman, Douglas A. Kahn

Cornell Law Faculty Publications

No abstract provided.

A Study After Cardozo: De Cicco V. Schweizer, Noncooperative Games, And Neural Computing, Robert Birmingham

Faculty Articles and Papers

No abstract provided.

Airlines, Airports And Antitrust: A Proposed Strategy For Enhanced Competition, Robert M. Hardaway, Paul Stephen Dempsey

Sturm College of Law: Faculty Scholarship

Most of this country's major airports are monopolies or duopolies at which one or two dominant carriers control a high percentage of terminal facilities. Airlines have used this market power to raise fares on flights originating and terminating at such airports. Although this power has been gained in part through the process of buy-outs and mergers in the airline industry itself, it has also been gained through actions taken in concert with airport authorities, such as when agreements are entered into that effectively limit the availability of airport facilities to new entrants and other competitors. Airlines, by virtue of rights …

Aviation Law And Regulation, Robert M. Hardaway, Paul Stephen Dempsey, William E. Thoms

Sturm College of Law: Faculty Scholarship

We sought to write a comprehensive reference book for aviation lawyers and practitioners, and airline and aircraft manufactuing executives in need of vital information regarding law and government regulation in the field of commercial and general aviation. We envision this book as an aid for the neophyte and experienced practitioner alike.

Post-Revolutionary Law And Economics:A Foreword To The Symposium, Anthony D'Amato

Faculty Working Papers

The Lanec (short for Law and Economics) movement of the 1970s hit the legal landscape like a nuclear device and permanently irradiated it. A couple of decades later, as we sift through the fallout, we are entitled to ask whether anything fundamental has changed. Every contributor to this Symposium seems to answer yes. Maybe they're like the book reviewer who believes deep in her heart that the book is worthless, but if she reveals it the editor will conclude that there is no point in printing her review. Let me put my own biases on the table. In general I …

Economics And The Environment: Trading Debt And Technology For Nature, Catherine O'Neill, Cass R. Sunstein

Faculty Articles

In this article, Professor O’Neill and Professor Sunstein first explore and suggest improvements in current debt-for-nature swaps, with the ultimate aim of defending the use of economic incentives and Paretian principles in the context of international environmental policy. Second, they examine some of the limitations of the exchange of debt for nature, and thus suggest an alternative exchange that overcomes those limitations. The exchange they envision is quite simple. Developed nations would transfer to developing nations environmentally advanced technologies, particularly technologies designed to increase efficient energy use or to replace non-renewable sources with renewable sources of energy. In return, developing …

Opting In And Out Of Fiduciary Duties In Cooperative Ventures: Refining The So-Called Coasean Contract Theory, Charles O'Kelley

Faculty Articles

Professor O’Kelley comments on a familiar problem in the law of closely held business associations - the alleged exploitation of weaker or minority investors by stronger or majority participants. The fact pattern is simple. At the outset of the cooperative venture, a stronger participant assumes the role of proprietor, partner, or majority shareholder, while the weaker participant assumes the role of agent, partner, or minority shareholder. For whatever reason, the venturers do not explicitly guarantee or protect the weaker participant’s right to income or continued participation in the venture. Consequently, at some later date the stronger participant reduces or eliminates …

The Economic Structure Of The Post-Contractual Corporation, William W. Bratton

All Faculty Scholarship

No abstract provided.

Defining The Prisoners' Dilemma, Wendy J. Gordon

Scholarship Chronologically

Formally, a prisoner's dilemma is defined as follows: There are two participants symmetrically situated. For each player, her payoff if she refuses to cooperate with the other player is higher than her payoff would be if she cooperated, and this is true whether the other chooses to cooperate, or chooses to defect. If both cooperate, her payoff will be higher than if both defect.

Judicial Choice And Disparities Between Measures Of Economic Values, David S. Cohen

Elisabeth Haub School of Law Faculty Publications

An important idea, which characterizes law in society, is a reluctance to move from the status quo. In general, one can argue that legal institutions and legal doctrine are not engaged in the redistribution of wealth from one party to another. This paper explores a possible explanation for that principle. The authors' research suggests that, across a wide range of entitlements and in a variety of contexts, individuals value losses more than foregone gains. The paper argues, as a matter of efficiency, that law and social policy might have developed in a manner consistent with this valuation disparity. Furthermore, this …

A Modern Proposal, Sidney Delong

Faculty Articles

This article humorously explains Jonathan Swift’s intention when he wrote “A Modest Proposal for Preventing the Children of Ireland from Being a Burden to Their Parents or Country.” Swift was not writing satirically, his analysis was purely written from an economic standpoint as was Landes and Posner’s modern proposal. Landes and Posner recognized the allocative efficiencies and wealth gains that can be realized when property rights are created in noncommodities, such as people, as did Jonathan Swift.

Work Product Rejected: A Reply To Professor Allen, Elizabeth G. Thornburg

Faculty Journal Articles and Book Chapters

This article responds to Professor Ronald Allen's Work Product Revisited: A Comment on Rethinking Work Product.

A Bargaining Analysis Of American Labor Law And The Search For Bargaining Equity And Industrial Peace, Kenneth G. Dau-Schmidt

Articles by Maurer Faculty

No abstract provided.

Controlling Congress: Presidential Influence In Domestic Fiscal Policy, Michael A. Fitts, Robert Inman

All Faculty Scholarship

No abstract provided.

Bargaining And The Division Of Value In Corporate Reorganization, Howard F. Chang, Lucian A. Bebchuk

All Faculty Scholarship

No abstract provided.

Taxation, Negative Amortization And Affordable Mortgages, Michael S. Knoll

All Faculty Scholarship

No abstract provided.

A General Approach To The Taxation Of Financial Instruments, Reed Shuldiner

All Faculty Scholarship

No abstract provided.

Public Values And Corporate Fiduciary Law, William W. Bratton

All Faculty Scholarship

No abstract provided.

Government Liability For Economic Losses: The Case Of Regulatory Failure, David S. Cohen

Elisabeth Haub School of Law Faculty Publications

Compensation claims against provincial and federal governments are largely a product of the second half of the 20th century. The initial surge of cases after the enactment of the federal Crown Liability Act in 1953--mirrored also in developments at the provincial level-- were typically "private" tort claims. Indeed a significant percentage of claims against the federal government continue to be nothing more than automobile accident, occupier liability claims and lawsuits arising out of similar relatively minor bureaucratic error. Recently, however, as a result of both the imagination of litigators and the growth of the regulatory state, claims against governments have …

Corporate Integration: Do The Uncertainties Outweigh The Benefits?, Reed Shuldiner

All Faculty Scholarship

No abstract provided.

Preaching To Managers, Edward B. Rock

All Faculty Scholarship

No abstract provided.

Social-Republican Property, William H. Simon

Faculty Scholarship

Economic democracy is the idea that the norms of equality and participation that classical liberalism confines to a narrowly defined sphere of government should apply to the sphere of economic life. Economic democracy thus entails a challenge to the classical liberal notion of property. In classical liberalism, property defines a realm of private enjoyment. No particular property right is a prerogative of, or a prerequisite to, citizenship, and the exercise of property rights by those who have them is not assessed in political terms.

One alternative to classical liberalism responsive to the ideal of economic democracy is classical socialism. Classical …

Beyond The Privacy Principle, Kendall Thomas

Faculty Scholarship

In Bowers v. Hardwick, the U.S. Supreme Court was asked to ad-dress the constitutionality of a Georgia criminal statute prohibiting certain private sexual practices by consenting adults. The Georgia citizens who brought the suit sought a judgment regarding the constitutionality of the statute on its face, but the Court resolutely avoided consideration of that issue. The Court took the view that the only federal question properly before it was the constitutional validity of the law as applied to private, sexual activity by consenting adults of the same gender, or what it called "homosexual sodomy." Having thus limited the scope …

Benign Restraint: The Sec's Regulation Of Execution Systems, David M. Schizer

Faculty Scholarship

To the handful of traders who founded the New York Stock Exchange (NYSE) in 1792 – and perhaps even to the securities traders of the 1960's – today's securities markets would be virtually unrecognizable. New communications and data processing technologies, the globalization of investment portfolios, and a surge in trading volume have created new needs and possibilities. As a result, revolutionary advances have occurred in the design and performance of execution systems: the technologies (computers, telephones, modems) and formats (auction-based stock exchanges, dealer-based "over-the-counter" markets, computerized single price auctions) that traders use to conduct trades. These advances enable trades on …

Market Power In Antitrust, George A. Hay

Cornell Law Faculty Publications

The concept of market power is at the core of antitrust. Philosophically, antitrust policy is aimed primarily at preventing firms from achieving, retaining, or abusing market power. Operationally, assessing whether a firm or firms have market power or any reasonable prospect for achieving it is often the first (and sometimes, the only) step in performing an antitrust analysis.

Few would dispute that market power should play a prominent role in antitrust analysis. Nevertheless, important questions remain. Some of these questions quite naturally focus on the precise degree of importance given to market power. Is it an essential ingredient in antitrust …