Open Access. Powered by Scholars. Published by Universities.®
- Keyword
-
- Law and economics (2)
- 14th Amendment (1)
- Alternate solution of bargaining (1)
- Attributing harm (1)
- Bankruptcy (1)
-
- CBA (1)
- Commons (1)
- Consent of U.S. to be sued for debt (1)
- Contracts (1)
- Cost-benefit analysis (1)
- Debtor-creditor law (1)
- Emerging technologies (1)
- Equity (1)
- Fairness (1)
- Fiscal deficit (1)
- Government debt (1)
- Government ownership (1)
- Hawk-dove game (1)
- Interdependencies (1)
- Internet congestion (1)
- Loop flow (1)
- Multipath propagation (1)
- Prioritarianism (1)
- Property rights (1)
- Public debt (1)
- Reorganization (1)
- Restructure (1)
- Risk policy (1)
- SWF (1)
- Selective default (1)
Articles 1 - 3 of 3
Full-Text Articles in Law
Beyond Coase: Emerging Technologies And Property Theory, Christopher S. Yoo
Beyond Coase: Emerging Technologies And Property Theory, Christopher S. Yoo
All Faculty Scholarship
In addition to prompting the development of the Coase Theorem, Ronald Coase’s landmark 1959 article on the Federal Communications Commission touched off a revolution in spectrum policy. Although one of Coase’s proposed reforms (that spectrum should be allocated through markets) has now become the conventional wisdom, his other principal recommendation (that governments stop dedicating portions of the spectrum to particular uses) has yet to be fully embraced. Drawing on spectrum as well as Internet traffic and electric power as examples, this Article argues that emerging technologies often reflect qualities that make defining property rights particularly difficult. These include the cumulative …
The Social Value Of Mortality Risk Reduction: Vsl Vs. The Social Welfare Function Approach, Matthew D. Adler, James K. Hammitt, Nicholas Treich
The Social Value Of Mortality Risk Reduction: Vsl Vs. The Social Welfare Function Approach, Matthew D. Adler, James K. Hammitt, Nicholas Treich
All Faculty Scholarship
We examine how different welfarist frameworks evaluate the social value of mortality risk-reduction. These frameworks include classical, distributively unweighted cost-benefit analysis—i.e., the “value per statistical life” (VSL) approach—and three benchmark social welfare functions (SWF): a utilitarian SWF, an ex ante prioritarian SWF, and an ex post prioritarian SWF. We examine the conditions on individual utility and on the SWF under which these frameworks display the following five properties: i) wealth sensitivity, ii) sensitivity to baseline risk, iii) equal value of risk reduction, iv) preference for risk equity, and v) catastrophe aversion. We show that the particular manner in which VSL …
United States Sovereign Debt: A Thought Experiment On Default And Restructuring, Charles W. Mooney Jr.
United States Sovereign Debt: A Thought Experiment On Default And Restructuring, Charles W. Mooney Jr.
All Faculty Scholarship
This chapter adopts the working assumption that it is conceivable that at some time in the future it would be in the interest of the United States to restructure its sovereign debt (i.e., to reduce the principal amount). It addresses in particular U.S. Treasury Securities. The chapter first provides an overview of the intermediated, tiered holding system for book-entry Treasuries. For the first time the chapter then explores whether and how—logistically and legally—such a restructuring could be effected. It posits the sort of dire scenario that might make such a restructuring advantageous. It then outlines a novel scheme …