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2002

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Articles 1 - 30 of 116

Full-Text Articles in Law

Regulation Of The Global Marketplace For The Sake Of Health, Marion Danis, Amy J. Sepinwall Dec 2002

Regulation Of The Global Marketplace For The Sake Of Health, Marion Danis, Amy J. Sepinwall

Legal Studies and Business Ethics Papers

Mounting evidence suggests that socioeconomic status is a determinant of health. As nations around the globe increasingly rely on market-based economies, the corporate sector has come to have a powerful influence on the socioeconomic gradient in most nations and hence upon the health status of their populations. At the same time, it has become more difficult for any one nation to influence corporate activities, given the increasing ease with which corporations relocate their operations from country to country. As a result of all of these factors, nations wishing to assure the health of their populations will need to both involve ...


Justice And Reasonable Care In Negligence Law, Richard W. Wright Dec 2002

Justice And Reasonable Care In Negligence Law, Richard W. Wright

All Faculty Scholarship

The academic literature generally assumes that an aggregate-risk-utility test is employed to determine whether conduct was reasonable or negligent. This aggregate-risk-utility test is a transparent implementation of the basic impartiality and aggregation principles of utilitarianism and the most popular (Kaldor-Hicks) interpretation of economic efficiency. Thus, the test's assumed prevalence as the criterion of reasonableness in negligence law has been highlighted by legal economists as confirmation of the utilitarian efficiency foundations of tort law, while those, including Ronald Dworkin, who think that the law, including tort law, is or should be grounded on principles of justice have sought to demonstrate ...


The Living Commerce Clause: Federalism In Progressive Political Theory And The Commerce Clause After Lopez And Morrison, Eric R. Claeys Dec 2002

The Living Commerce Clause: Federalism In Progressive Political Theory And The Commerce Clause After Lopez And Morrison, Eric R. Claeys

William & Mary Bill of Rights Journal

"Living Constitution " ideas are most often associated with individual-rights guarantees like equal protection and due process, but they were originally developed in the early twentieth century to revolutionize the law of the structural Constitution - including the Commerce Clause. In this Article, Professor Claeys interprets Progressive political theory, which played a crucial role in legitimating the expansion of the national government. As applied to federalism, Progressive living-Constitution theory required that the Commerce Clause be interpreted as a constitutional transmitter letting the national government regulate whatever the American people deem to be a national problem. He suggests that this notion of the ...


One Nation Among Many: Policy Implications Of Cross-Border Tax Arbitrage, Diane M. Ring Dec 2002

One Nation Among Many: Policy Implications Of Cross-Border Tax Arbitrage, Diane M. Ring

Boston College Law School Faculty Papers

Cross-border tax arbitrage arises where a transaction is subject to two or more countries’ differing tax regimes. Conflicts between the tax rules create unique opportunities for the parties to engage in profitable tax planning – opportunities that would not be available if the transaction occurred entirely domestically in one of the countries. These opportunities have been a growing feature of the multi-jurisdictional business world and have raised issues concerning whether and how countries, such as the United States, should respond. This Article examines cross-border tax arbitrage in the context of both domestic tax policy and of other international tax issues, and ...


The Long Road To Reform: An Analysis Of Foreign Investment Reform In Vietnam , Norman Brown Iv Dec 2002

The Long Road To Reform: An Analysis Of Foreign Investment Reform In Vietnam , Norman Brown Iv

Boston College International and Comparative Law Review

In the mid-1980s, Vietnam opened its borders to international investment in hopes of improving its economic atmosphere. The Vietnamese government launched new initiatives and passed new laws to facilitate and encourage Foreign Direct Investment in its ailing economy. However, after an examination of recent changes, this Note concludes that further reform is still required in order to encourage the necessary Foreign Direct Investment that will help aid Vietnam's feeble economy and allow it to prosper as the next great Asian economic power.


Sustainability, Distribution, And The Macroeconomic Analysis Of Law, Douglas A. Kysar Dec 2002

Sustainability, Distribution, And The Macroeconomic Analysis Of Law, Douglas A. Kysar

Boston College Law Review

Legal economic analysis has traditionally focused on the application of microeconomic theory to questions of legal import. Scholars have generally regarded macroeconomic effects of legal rules as lying beyond the purview of the legal decisiomnaker's jurisdiction. This Article argues that such exclusion of macroeconomic subject matter from legal analysis may rest on a scientifically erroneous view of - the economic process. The conventional understanding of the economic process presumes an unlimited supply of material inputs and an infinite natural capacity to absorb waste outputs. Fundamental scientific principles suggest that this understanding is flawed. The economic process must necessarily be limited ...


Beyond Welfare Reform: Economic Justice In The 21st Century, Peter B. Edelman Nov 2002

Beyond Welfare Reform: Economic Justice In The 21st Century, Peter B. Edelman

Georgetown Law Faculty Lectures and Appearances

Thank you so much, Mary Louise. I am deeply honored that you asked me to be here today with you and Tomas and Dan to deliver these remarks in memory of Mario Olmos. He was a wonderful role model for the values that have been celebrated throughout this lecture series, and I am doubly honored to be added to the list of distinguished speaker who have preceded me.


Internalizing Outsider Trading, Ian Ayres, Stephen Choi Nov 2002

Internalizing Outsider Trading, Ian Ayres, Stephen Choi

Michigan Law Review

Investing in the United States has become a hobby for many. Individual ownership of equity, moreover, has increased over the past decade due in part to the introduction of internet-based trading. While providing the possibility for greater returns compared with bank savings accounts, among other investment alternatives, the public capital markets also pose greater risks for investors. Many individual investors lack both the resources and the incentive to analyze the value of any particular security in the market. Such investors thus trade at a systematic disadvantage relative to more informed parties. In response, regulators have asserted that certain informational disparities ...


The Fable Of Entry: Bounded Rationality, Market Discipline, And Legal Policy, Avishalom Tor Nov 2002

The Fable Of Entry: Bounded Rationality, Market Discipline, And Legal Policy, Avishalom Tor

Michigan Law Review

Legal scholars have recently advanced a behavioral approach to the law and economics school of thought in an attempt to improve its external validity and predictive power. The hallmark of this new approach is the replacement of the perfectly rational actor with a "boundedly rational" decisionmaker who, apart from being affected by emotion and motivation, has only limited cognitive resources. To function effectively in a complex :world, boundedly rational individuals must rely on cognitive heuristics - simplifying mental shortcuts - that inevitably lead people to make some systematic decision errors; as a result, their behavior necessarily deviates from that predicted by rational ...


Brief Of Keith N. Hylton As Amicus Curiae In Support Of The Respondents In State Farm Mutual Automobile Insurance Company, Petitioner V. Curtis B. Campbell And Inez Preece Campbell, Respondents, Keith Hylton Oct 2002

Brief Of Keith N. Hylton As Amicus Curiae In Support Of The Respondents In State Farm Mutual Automobile Insurance Company, Petitioner V. Curtis B. Campbell And Inez Preece Campbell, Respondents, Keith Hylton

Faculty Scholarship

Virtually all courts accept the view that high punitive damage awards are appropriate in instances where the defendant's harmful conduct is unlikely to lead to liability. See, e.g., BMW of N. Am. Inc. v. Gore, 517 U.S. 559, 582 (1996). The Utah Supreme Court reinstated the $145 million punitive damage award in this case in part on the ground that "State Farm's actions, because of their clandestine nature, will be punished at most in one out of every 50,000 cases as a matter of statistical probability." Pet App. 30a. A central issue of this case ...


Instability In Latin America: U.S. Policy And The Role Of The International Community: Hearing Before The Subcomm. On International Trade And Finance Of The S. Comm. On Banking, Housing, And Urban Affairs, 107th Cong., Oct. 16, 2002 (Statement Of Professor Daniel K. Tarullo, Geo. U. L. Center), Daniel K. Tarullo Oct 2002

Instability In Latin America: U.S. Policy And The Role Of The International Community: Hearing Before The Subcomm. On International Trade And Finance Of The S. Comm. On Banking, Housing, And Urban Affairs, 107th Cong., Oct. 16, 2002 (Statement Of Professor Daniel K. Tarullo, Geo. U. L. Center), Daniel K. Tarullo

Testimony Before Congress

No abstract provided.


The Stumbling Block: Freedom, Rationality, And Legal Scholarship, Jeanne L. Schroeder Oct 2002

The Stumbling Block: Freedom, Rationality, And Legal Scholarship, Jeanne L. Schroeder

William & Mary Law Review

No abstract provided.


Legally Defending Mission-Creep: How The Bretton Woods Charters Anticipate And Justify Imf Attention To "Structural" Variables In Its Oversight Of The Global Financial System, Robert C. Hockett Oct 2002

Legally Defending Mission-Creep: How The Bretton Woods Charters Anticipate And Justify Imf Attention To "Structural" Variables In Its Oversight Of The Global Financial System, Robert C. Hockett

Cornell Law Faculty Publications

No abstract provided.


Theorizing Behavioral Law And Economics: A Defense Of Evolutionary Analysis And The Law, Neel P. Parekh Oct 2002

Theorizing Behavioral Law And Economics: A Defense Of Evolutionary Analysis And The Law, Neel P. Parekh

University of Michigan Journal of Law Reform

Behavioral law and economics (BLE) provides a steady stream of empirical evidence that counters the predictions of law and economics. Despite this research and data, however, many theorists argue that BLE ultimately fails because it posits no underlying theory. This Note argues that perspectives from evolutionary biology, evolutionary psychology, and the brain sciences can provide the missing motivational theory for BLE's empirical findings. The Note also examines the implications a more consistent and reasoned consideration of evolutionary analysis and the law (EA) has for our legal regime. In theorizing BLE and defending EA, this Note aims to show how ...


Regret Theory - Explanation, Evaluation And Implications For The Law, Grant B. Gelberg Oct 2002

Regret Theory - Explanation, Evaluation And Implications For The Law, Grant B. Gelberg

University of Michigan Journal of Law Reform

This Note discusses regret theory, which offers an alternative explanation of rational behavior in risky or uncertain situations. Unlike traditional law and economics, which is based on expected utility theory, regret theory posits that individuals either rejoice or experience regret after making a decision, and that the anticipation of these feelings influences choices ex ante. In recent years, studies have shown the robustness of regret theory, particularly when individuals compare action to inaction, in disparate feedback environments, and when decisional agency is altered. These, and other factors, influence regret theory's impact on litigant behavior, as well as on the ...


Teaching Real Torts: Using Barry Werth's Damages In The Law School Classroom, Tom Baker Jul 2002

Teaching Real Torts: Using Barry Werth's Damages In The Law School Classroom, Tom Baker

Faculty Scholarship at Penn Law

No abstract provided.


It's Time To Federalize Corporate Charters, Kent Greenfield Jun 2002

It's Time To Federalize Corporate Charters, Kent Greenfield

Kent Greenfield

No abstract provided.


The Political Economy Of School Choice, Michael Heise, James E. Ryan Jun 2002

The Political Economy Of School Choice, Michael Heise, James E. Ryan

Cornell Law Faculty Publications

This paper examines the political economy of school choice and focuses in particular on the role of suburbanites. This group, which we contend is the most important and powerful stakeholder in choice debates, has yet to receive much attention in the commentary. It turns out that suburbanites, by and large, are not wild about school choice, either public or private. Suburbanites are largely satisfied with the schools in their neighborhoods and want to protect the physical and financial independence of those schools (as well as their property values, which are tied to the perceived quality of local schools). School choice ...


Behavioral Finance And Investor Governance, Lawrence A. Cunningham Jun 2002

Behavioral Finance And Investor Governance, Lawrence A. Cunningham

Washington and Lee Law Review

No abstract provided.


Paradigm Shifts And Access Controls: An Economic Analysis Of The Anticircumvention Provisions Of The Digital Millennium Copyright Act, Melissa A. Kern Jun 2002

Paradigm Shifts And Access Controls: An Economic Analysis Of The Anticircumvention Provisions Of The Digital Millennium Copyright Act, Melissa A. Kern

University of Michigan Journal of Law Reform

This Note addresses the broadened scope of protection granted to copyright holders under the anticircumvention provisions of the Digital Millennium Copyright Act of 1998 (DMCA). This broadened scope extends to copyright holders the right to control access to their works, diminishing the consumer's 'fair use" of those works that previously served as a defense to alleged copyright infringements. While access controls are supported by economists who believe they are useful in correcting market inefficiencies and excluding free riders, this Note suggests that access controls cannot correct all market inefficiencies. Furthermore, such access controls deny access and use of copyrighted ...


September 11 And The End Of History For Corporate Law, Kent Greenfield May 2002

September 11 And The End Of History For Corporate Law, Kent Greenfield

Kent Greenfield

Using the tragic events of September 11th as case study; this Essay critiques a prominent, recent article that suggests the ideology of shareholder primacy has become so dominant that the "end of history" is at hand for corporate law. The author suggests that a dedication to shareholder primacy helped create the context in which the events of September 11th could occur, by making the airlines less attentive to security concerns that did not affect the airline companies' stock prices. Shareholder primacy makes corporations more likely to externalize the costs of the firms' decisions onto constituencies other than shareholders, and such ...


Emergencia, Derecho , Justicia Y Seguridad Jurídica, Horacio M. Lynch May 2002

Emergencia, Derecho , Justicia Y Seguridad Jurídica, Horacio M. Lynch

Horacio M. LYNCH

Análisis de la respuesta judicial a la crisis económica de 2002 involucrando, entre otras, las siguientes cuestiones: los amparos, su tramitación, y sus secuelas; la declaración de la inconstitucionalidad de oficio, "órdenes imposibles de cumplir", la colisión de derechos; y cuestiones político institucionales, como la gobernabilidad y el gobierno de los jueces.


Predicting Defection, Elmer J. Schaefer May 2002

Predicting Defection, Elmer J. Schaefer

Faculty Publications

No abstract provided.


Accountability Conceptions And Federalism Tales: Disney's Wonderful World?, William W. Buzbee May 2002

Accountability Conceptions And Federalism Tales: Disney's Wonderful World?, William W. Buzbee

Michigan Law Review

Richard Foglesong's Married to the Mouse: Walt Disney World and Orlando, may not offer the thrills of an entertainment park, but it is an uncommonly good read. In a book focused on approximately four decades of Disney's interactions with Orlando and state officials, political scientist Foglesong tells the tale of how Walt Disney ended up locating his new East Coast entertainment park in Orlando, Florida and what happened in subsequent government-Disney company interactions. Using chapter headings based on stages in a personal relationship's progression ("Serendipity" to "Seduction" through "Marriage," and ultimately, after interim stages, "Therapy"), Foglesong shows ...


A Life In The Craft Of Comparative Law, John C. Reitz May 2002

A Life In The Craft Of Comparative Law, John C. Reitz

Michigan Law Review

It is obvious to specialists in the law of the European Union ("E.U.") - a relatively small but steadily growing group in the United States - that a "retrospective" collection of Eric Stein's writings would be of great interest. From his 1955 article in the Columbia Law Review, the first article about the Court of Justice of the European Coal and Steel Community to appear in English (p. 473), he has been one of the dominant U.S. scholars of what was initially called "European Community" ("E.C.") law after the three original European Communities2 and more recently has been ...


A Risk/Cost Framework For Logistics Policy Evaluation: Hazardous Waste Management, Kimberly Hollister Apr 2002

A Risk/Cost Framework For Logistics Policy Evaluation: Hazardous Waste Management, Kimberly Hollister

Department of Information Management and Business Analytics Faculty Scholarship and Creative Works

The management of hazardous waste disposal operations is extremely complex involving a multitude of environmental, engineering, economic, social and political concerns. This article proposes a framework to assist policy makers in the evaluation of logistic policies. A spatial general equilibrium based policy evaluation model is developed to calculate risk, cost, and risk equity tradeoff curves. This framework provides policy makers a tool with which they can relate resulting logistics patterns and their associated risk, cost, and equity attributes to original policy goals.


Economics, Public Choice, And The Perennial Conflict Of Laws, Erin O'Hara O'Connor Apr 2002

Economics, Public Choice, And The Perennial Conflict Of Laws, Erin O'Hara O'Connor

Scholarly Publications

No abstract provided.


Knowledge At Work: Disputes Over The Ownership Of Human Capital In The Changing Workplace, Katherine V.W. Stone Apr 2002

Knowledge At Work: Disputes Over The Ownership Of Human Capital In The Changing Workplace, Katherine V.W. Stone

Cornell Law Faculty Publications

No abstract provided.


Venture Capital On The Downside: Preferred Stock And Corporate Control, William W. Bratton Mar 2002

Venture Capital On The Downside: Preferred Stock And Corporate Control, William W. Bratton

Michigan Law Review

When stock indices drop precipitously, when the startup companies fizzle out, and when it stops raining money on places like Wall Street and Silicon Valley, attention turns to downside contracting. Law and business lawyers, sitting in the back seat as mere facilitators on the upside, move up to the front and sometimes even take the wheel. The job is the same on both the upside and downside: to maximize the value of going concern assets. But what comes easily on the upside can be dirty work on the down, where assets need to be separated from dysfunctional teams of business ...


The Team Production Theory Of Corporate Law: A Critical Assessment, Alan J. Meese Mar 2002

The Team Production Theory Of Corporate Law: A Critical Assessment, Alan J. Meese

William & Mary Law Review

No abstract provided.