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Of Posin And Pigs, Of Coase And Cost, Of Profits Gained And Opportunities Lost, Stephen G. Marks
Of Posin And Pigs, Of Coase And Cost, Of Profits Gained And Opportunities Lost, Stephen G. Marks
Faculty Scholarship
In his article, "The Coase Theorem: If Pigs Could Fly," Professor Daniel Posin purports to demonstrate that the Coase Theorem fails because it incorrectly accounts for opportunity costs. This short paper will demonstrate that there is a mistake in the example Posin uses to prove his assertion. Although the mistake is a small one, it completely drives his result. In fact, after correcting the mistake, Posin's example corroborates, rather than refutes, the Coase Theorem.
Suretyship Principles In The New Articles 3: Clarifications And Substantive Changes, Neil B. Cohen
Suretyship Principles In The New Articles 3: Clarifications And Substantive Changes, Neil B. Cohen
Faculty Scholarship
No abstract provided.
Recovery For Pure Economic Loss In Tort: Another Look At Robins Dry Dock V. Flint, Victor P. Goldberg
Recovery For Pure Economic Loss In Tort: Another Look At Robins Dry Dock V. Flint, Victor P. Goldberg
Faculty Scholarship
In Robins Dry Dock and Repair Co. v. Flint, the Supreme Court laid down the general proposition that claims for pure economic loss are not recoverable in tort. Although courts have sometimes ignored or distinguished Robins, its holding is still a central feature of tort law. In a recent en bane decision regarding claims by those injured by a chemical spill in the Mississippi River, the Fifth Circuit engaged in an extensive debate over the continued vitality of Robins and concluded (despite five dissenters) that it remained good law.
The Robins rule is overbroad, lumping together a number of …