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Articles 1 - 15 of 15

Full-Text Articles in Law

Equity Analysis And Natural Hazards Policy, Matthew D. Adler Nov 2005

Equity Analysis And Natural Hazards Policy, Matthew D. Adler

Faculty Scholarship at Penn Law

What is an “equitable” policy for mitigating the impacts of hurricanes, earthquakes, floods, and other natural hazards? Economists tend to see “equity” or “distribution” as irreducibly political and subjective. But, in truth, equity analysis and cost-benefit analysis are on a par. Both require a normative justification. Moreover, normative argument can help us structure equity analysis, just as it can cost-benefit analysis. This chapter, written for a forthcoming book on natural hazards policy after Katrina, argues that equity is a normative consideration distinct from efficiency or overall well-being. It then argues that equity is individualistic, not group-based; ex post, not ex ...


The Corporate Form As A Solution To A Discursive Dilemma, Edward B. Rock Oct 2005

The Corporate Form As A Solution To A Discursive Dilemma, Edward B. Rock

Faculty Scholarship at Penn Law

I examine the connection between the discursive dilemma and corporate law. The discursive dilemma (or doctrinal paradox) is a distinctive social choice problem that was first identified by Kornhauser and Sager and later used as the basis for a theory of organizational personality by Pettit. I examine the ways in which the corporate form prevents the emergence of the discursive dilemma in the firm context and the extent to which the presence of the discursive dilemma can provide the foundation for a theory of corporate personality.


Theories Of The Employment Relationship: Choosing Between Norms And Contracts, Michael L. Wachter Jun 2005

Theories Of The Employment Relationship: Choosing Between Norms And Contracts, Michael L. Wachter

Faculty Scholarship at Penn Law

In this paper, I analyze three types of labor market relationships that are prevalent in the economy - the external labor market that exists outside of firms, and the union and nonunion employment relationships that exist inside firms. The parties' relationships in each of these markets are markedly different from one another with respect to their use of contracts versus norms, their enforcement mechanisms, and their reliance on external competitive market pressures. Why do these very distinct forms exist? This paper provides an answer to this question. To be successful, each of the structures has to resolve problems of match-specific assets ...


How Do Corporations Play Politics? The Fedex Story, Jill E. Fisch Jan 2005

How Do Corporations Play Politics? The Fedex Story, Jill E. Fisch

Faculty Scholarship at Penn Law

No abstract provided.


Institutional Competition To Regulate Corporations: A Commment On Macey, Jill E. Fisch Jan 2005

Institutional Competition To Regulate Corporations: A Commment On Macey, Jill E. Fisch

Faculty Scholarship at Penn Law

No abstract provided.


Do Institutions Matter? The Impact Of The Lead Plaintiff Provision Of The Private Securities Litigation Reform Act, Stephen Choi, Jill E. Fisch, A. C. Pritchard Jan 2005

Do Institutions Matter? The Impact Of The Lead Plaintiff Provision Of The Private Securities Litigation Reform Act, Stephen Choi, Jill E. Fisch, A. C. Pritchard

Faculty Scholarship at Penn Law

When Congress enacted the Private Securities Litigation Reform Act in 1995 (“PSLRA”), the Act’s “lead plaintiff” provision was the centerpiece of its efforts to increase investor control over securities fraud class actions. The lead plaintiff provision alters the balance of power between investors and class counsel by creating a presumption that the investor with the largest financial stake in the case will serve as lead plaintiff. The lead plaintiff then chooses class counsel and, at least in theory, negotiates the terms of counsel’s compensation.

Congress’s stated purpose in enacting the lead plaintiff provision was to encourage institutional ...


Beyond Network Neutrality, Christopher S. Yoo Jan 2005

Beyond Network Neutrality, Christopher S. Yoo

Faculty Scholarship at Penn Law

No abstract provided.


On The Regulation Of Networks As Complex Systems: A Graph Theory Approach, Daniel F. Spulber, Christopher S. Yoo Jan 2005

On The Regulation Of Networks As Complex Systems: A Graph Theory Approach, Daniel F. Spulber, Christopher S. Yoo

Faculty Scholarship at Penn Law

No abstract provided.


Racial Dimensions Of Credit And Bankruptcy, David A. Skeel Jr. Jan 2005

Racial Dimensions Of Credit And Bankruptcy, David A. Skeel Jr.

Faculty Scholarship at Penn Law

No abstract provided.


Redesigning The International Lender Of Last Resort, Patrick Bolton, David A. Skeel Jr. Jan 2005

Redesigning The International Lender Of Last Resort, Patrick Bolton, David A. Skeel Jr.

Faculty Scholarship at Penn Law

No abstract provided.


The Microfoundations Of Standard Form Contracts: Price Discrimination Vs. Behavioral Bias, Jonathan Klick Jan 2005

The Microfoundations Of Standard Form Contracts: Price Discrimination Vs. Behavioral Bias, Jonathan Klick

Faculty Scholarship at Penn Law

No abstract provided.


The New Dividend Puzzle, William W. Bratton Jan 2005

The New Dividend Puzzle, William W. Bratton

Faculty Scholarship at Penn Law

No abstract provided.


Wealth, Utility, And The Human Dimension, Jonathan Klick, Francesco Parisi Jan 2005

Wealth, Utility, And The Human Dimension, Jonathan Klick, Francesco Parisi

Faculty Scholarship at Penn Law

Functional law and economics, which draws its influence from the public choice school of economic thought, stands in stark contrast to both the Chicago and Yale schools of law and economics. While the Chicago school emphasizes the inherent efficiency of legal rules, and the Yale school views law as a solution to market failure and distributional inequality, functional law and economics recognizes the possibility for both market and legal failure. That is, while there are economic forces that lead to failures in the market, there are also structural forces that limit the law’s ability to remedy those failures on ...


Environmental Trade Measures, The Shrimp-Turtle Rulings, And The Ordinary Meaning Of The Text Of The Gatt, Howard F. Chang Jan 2005

Environmental Trade Measures, The Shrimp-Turtle Rulings, And The Ordinary Meaning Of The Text Of The Gatt, Howard F. Chang

Faculty Scholarship at Penn Law

No abstract provided.


Architectural Censorship And The Fcc, Christopher S. Yoo Jan 2005

Architectural Censorship And The Fcc, Christopher S. Yoo

Faculty Scholarship at Penn Law

No abstract provided.