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Full-Text Articles in Law
Got Bounded Rationality And Political Gridlock? There's A Loan Disclosure Hack For That, Debra Pogrund Stark, Jessica M. Choplin, Andrew Pizor
Got Bounded Rationality And Political Gridlock? There's A Loan Disclosure Hack For That, Debra Pogrund Stark, Jessica M. Choplin, Andrew Pizor
Cleveland State Law Review
For decades, Congress has primarily relied upon the use of mandatory disclosure forms to protect consumers from entering into ill-advised loans by disclosing the terms of an offered loan before the borrower enters into it. This policy is not likely to change any time soon due to congressional gridlock. Frustratingly, despite improvements, consumers still have difficulties using these forms to obtain the key information and data they need to make wise decisions. These disclosures contain a great deal of information, and assume that consumers are capable of reading, understanding, and using all of it. Contrary to this assumption, research on …
When Good Policies Go Bad: Controlling Risks Posed By Flawed Incentive-Based Compensation, Nicole Vincent
When Good Policies Go Bad: Controlling Risks Posed By Flawed Incentive-Based Compensation, Nicole Vincent
Cleveland State Law Review
The recent Wells Fargo scandal revealed the harm that can result from flawed incentive-based compensation arrangements. Large financial institutions have both a legal and an ethical obligation to ensure that any incentive-based compensation arrangements that are in place will not encourage risky or fraudulent employee behavior. The continued existence of inappropriate and poorly structured arrangements demonstrates that existing regulations are inadequate to ensure compliance and protect consumers. Regulations should include increased penalties and should more evenly distribute the burden of oversight and compliance between the public and private sectors. In addition to regulatory reform, the government should prosecute culpable high-level …
An Examination Of Product Hopping By Brand-Name Prescription Drug Manufacturers: The Problem And A Proposed Solution, Daniel Burke
An Examination Of Product Hopping By Brand-Name Prescription Drug Manufacturers: The Problem And A Proposed Solution, Daniel Burke
Cleveland State Law Review
The balance between incentivizing innovation through exclusivity protection and maintaining competitive market conditions—including prices for consumers—is a difficult line to toe. Product hopping has characteristics that constitute a violation of the Sherman Antitrust Act because companies can maintain monopoly power in the pharmaceutical market. While some monopoly power is justified as an incentive for incredibly costly innovation, extended periods of exclusivity harms consumers by keeping prescription drug prices artificially inflated. Allowing generic drug manufacturers to compete sooner in the prescription drug market by disallowing product hopping by name-brand pharmaceutical drug companies will aid in driving down prices. Courts should adopt …