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Full-Text Articles in Law
Employees And The Boundaries Of The Corporation, Matthew T. Bodie
Employees And The Boundaries Of The Corporation, Matthew T. Bodie
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Employees have no formal role in U.S. corporate law. According to most theories of the firm, however, employees play a critical role in differentiating firms from markets. This essay examines the disparity in treatment and seeks to understand the ramifications of the separation of employees from the corporation. After discussing the absence of employees from the corporate structure, the essay looks at the role of the employees in theories of the firm. In contrast to corporate law, these theories generally include employees within the core of the firm, and they often explain the nature and purpose of the firm in …
Questions About The Efficiency Of Employment Arbitration Agreements, Matthew T. Bodie
Questions About The Efficiency Of Employment Arbitration Agreements, Matthew T. Bodie
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The growing popularity of arbitration agreements is well-documented. The academic literature on these agreements has been largely critical, arguing that they jeopardize important rights and enable employers to take unfair advantage of employees and consumers. However, standard economic analysis suggests that since these agreements are freely negotiated, they presumably increase the utility of both parties and are therefore efficient. This Article raises questions about the efficiency of such agreements in the employment context. It begins by modeling the decision-making process by which a rational employee would judge the desirability of an agreement, both after and before a dispute has arisen. …
Questions About The Efficiency Of Employment Arbitration Agreements, Matthew T. Bodie
Questions About The Efficiency Of Employment Arbitration Agreements, Matthew T. Bodie
All Faculty Scholarship
The growing popularity of arbitration agreements is well-documented. The academic literature on these agreements has been largely critical, arguing that they jeopardize important rights and enable employers to take unfair advantage of employees and consumers. However, standard economic analysis suggests that since these agreements are freely negotiated, they presumably increase the utility of both parties and are therefore efficient. This Article raises questions about the efficiency of such agreements in the employment context. It begins by modeling the decision-making process by which a rational employee would judge the desirability of an agreement, both after and before a dispute has arisen. …