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Full-Text Articles in Law
The Fable Of Entry: Bounded Rationality, Market Discipline, And Legal Policy, Avishalom Tor
The Fable Of Entry: Bounded Rationality, Market Discipline, And Legal Policy, Avishalom Tor
Avishalom Tor
Legal scholars have recently advanced a behavioral approach to the law and economics school of thought, replacing the traditionally assumed rational actor with an empirically based, boundedly rational decision maker. In response, advocates of traditional law and economics have asserted that boundedly rational behavior is of little significance for the analysis of economic activities in market environments, most notably because competitive pressures will eliminate such behavior. This article argues, however, that bounded rationality has important effects on the market even under conditions of intense competition. Through a study of the competition among new entrants into industry, this analysis examines the …
The Waivers Book: Advanced Issues In Immigration Law Practice, Irene Scharf
The Waivers Book: Advanced Issues In Immigration Law Practice, Irene Scharf
Irene Scharf
Immigration practitioners finally have one book they can turn to that addresses one of the most important issues in their practices: waivers and other advanced remedies. Assuming at least an introductory knowledge of the issues pertinent to practicing immigration law today, and covering a broad array of topics that arise in any sophisticated immigration practice, The Waivers Book: Advanced Issues in Immigration Law Practice will be useful reference tool, not only to those who are relatively new to this area of law, but also to those who already have considerable practice experience.
Predatory Pricing, Aaron S. Edlin
Predatory Pricing, Aaron S. Edlin
Aaron Edlin
Judge Breyer famously worried that aggressive prohibitions of predatory pricing throw away a bird in hand (low prices during the alleged predatory period) for a speculative bird in the bush (preventing higher prices thereafter). Here, I argue that there is no bird in hand because entry cannot be presumed. Moreover, it is plausibly commonplace that low prices or the threat of low prices produce anticompetitive results by reducing entry, inducing exit, and keeping prices high. I analyze three potential standards for identifying predatory pricing. Two are traditional but have been tangled together and must be distinguished. First, a price-cost test …