Open Access. Powered by Scholars. Published by Universities.®
- Discipline
Articles 1 - 2 of 2
Full-Text Articles in Law
An Economic Theory Of The Duty To Bargain, Keith N. Hylton
An Economic Theory Of The Duty To Bargain, Keith N. Hylton
Faculty Scholarship
Professor Hylton's paper presents an economic theory of the duty to bargain in good faith under the National Labor Relations Act. The duty to bargain alters bargaining incentives in two ways. First, it imposes a duty to disclose relevant information on the informationally advantaged party. Second, by conditioning the right to act unilaterally on satisfaction of bargaining obligations, the duty to bargain brings about a partial reallocation of the parties' entitlements. This partial reallocation increases the potential gains from honest contracting relative to the benefits of exploiting an informational advantage and thus alters incentives in a way that makes honest …
Interest Group Politics And Judicial Behavior: Macey's Public Choice, Jack M. Beermann
Interest Group Politics And Judicial Behavior: Macey's Public Choice, Jack M. Beermann
Faculty Scholarship
The economic theory of government has lately gained the acceptance in legal circles that it has long enjoyed in political science and economics. The economic theory, also known as "public choice," analyzes and explains government action and private political activity according to the basic assumption of economics, that individuals respond to economic incentives in their environments in a self-interested manner. The economic theory is thus useful descriptively, to explain diverse political phenomena, and prescriptively, to help formulate reform strategy.