Open Access. Powered by Scholars. Published by Universities.®

Law Commons

Open Access. Powered by Scholars. Published by Universities.®

Law & Economics

Discipline
Institution
Publication Year
Publication
Publication Type
File Type

Articles 1 - 30 of 101

Full-Text Articles in Law

Essays On Public Policy, Justin Craig Heflin Jan 2023

Essays On Public Policy, Justin Craig Heflin

Graduate Theses, Dissertations, and Problem Reports

The first chapter examines the impact of Red Flag Laws on homicide rates and suicide rates. Red Flag Laws seek to implement gun control measures by allowing the removal of firearms from individuals who pose a danger to themselves or others. Using a two-way fixed effects (TWFE) difference-in-differences (DiD) estimations, I demonstrate a negative and plausibly causal relationship between a state implementing a Red Flag Law and homicide rates. While there is also a reduction in suicide rates, I am unable to make causal claims. This study is the first to empirically examine Red Flag Laws, with an eye towards …


A New Takings Clause? The Implications Of Cedar Point Nursery V. Hassid For Property Rights And Moratoria, Benjamin Alexander Mogren Dec 2022

A New Takings Clause? The Implications Of Cedar Point Nursery V. Hassid For Property Rights And Moratoria, Benjamin Alexander Mogren

William & Mary Bill of Rights Journal

In part, the Fifth Amendment to the Constitution holds that “no person . . . shall [have their] private property . . . taken for public use, without just compensation.” In Cedar Point Nursery v. Hassid, the U.S. Supreme Court ruled that “a California regulation that permits union organizers to enter the property of agricultural business to talk with employees about supporting a union is unconstitutional.” The purpose of this Note is to discuss what Cedar Point Nursery means generally for the future of Takings Clause analysis and will argue that Cedar Point Nursery should be seen as a …


Qualified Immunity, Sovereign Immunity, And Systemic Reform, Katherine Mims Crocker May 2022

Qualified Immunity, Sovereign Immunity, And Systemic Reform, Katherine Mims Crocker

Faculty Publications

Qualified immunity has become a central target of the movement for police reform and racial justice since George Floyd’s murder. And rightly so. Qualified immunity, which shields government officials from damages for constitutional violations even in many egregious cases, should have no place in federal law. But in critical respects, qualified immunity has become too much a focus of the conversation about constitutional-enforcement reform. The recent reappraisal offers unique opportunities to explore deeper problems and seek deeper solutions.

This Article argues that the public and policymakers should reconsider other aspects of the constitutional-tort system—especially sovereign immunity and related protections for …


Resistance Is Not Futile: Challenging Aapi Hate, Peter H. Huang Feb 2022

Resistance Is Not Futile: Challenging Aapi Hate, Peter H. Huang

William & Mary Journal of Race, Gender, and Social Justice

This Article analyzes how to challenge AAPI (Asian American Pacific Islander) hate—defined as explicit negative bias in racial beliefs towards AAPIs. In economics, beliefs are subjective probabilities over possible outcomes. Traditional neoclassical economics view beliefs as inputs to making decisions with more accurate beliefs having indirect, instrumental value by improving decision-making. This Article utilizes novel economic theories about belief-based utility, which economically captures the intuitive notion that people can derive pleasure and pain directly from their and other people’s beliefs. Even false beliefs can offer comfort and reassurance to people. This Article also draws on interdisciplinary and multidisciplinary theories …


The Farcical Samaritan's Dilemma, Andre Douglas Pond Cummings Jan 2022

The Farcical Samaritan's Dilemma, Andre Douglas Pond Cummings

Faculty Scholarship

“[T]he hypothesis is that modern man has become incapable of making the choices that are required to prevent his exploitation by predators of his own species[.]”

This article explores one of the foundational pillar theories of Law and Economics and specifically Public Choice Theory as espoused by Nobel Laureate James M. Buchanan: the “Samaritan’s Dilemma.” Using the Biblical parable of the Good Samaritan, Buchanan imagines a “dilemma” faced by the Good Samaritan when encountering a beaten and bloodied man left to die on the road to Jericho. Using Game Theory, Buchanan constructs a moral quandary that the man from Samaria …


The Importance Of Viewing Property As A System, Lynda L. Butler Feb 2021

The Importance Of Viewing Property As A System, Lynda L. Butler

Faculty Publications

Can--or should--the American property system adapt to curb the excesses inherent in the dominant form of capitalism? Those extolling the virtues of privatization of resources would likely answer in the negative. Such a response would ignore the core functions and infrastructure of the American institution of property. This Article discusses the structure of property that enables property law to evolve over time, reacting to changing conditions, recognizing informal customs and usages, and otherwise taking into account important feedbacks. It explains how property provides an ordering system of concepts and principles that define and govern relations between a society and its …


Why Illinois Should Reevaluate Its Video Tolling (V-Toll) Subsidy, Randall K. Johnson Jan 2021

Why Illinois Should Reevaluate Its Video Tolling (V-Toll) Subsidy, Randall K. Johnson

Faculty Works

Tolls are levies with a limited base. This base is made up of drivers that pay user fees, in cash or via electronic transponder, in exchange for access to state-administered roads. In Illinois, every single toll is a function of three factors: vehicle characteristics, tollway entry point, and how far a driver goes on state-administered roads.

It is commonly assumed that any toll violation, i.e., any failure to pay, results in a traffic ticket, administrative fees and state-imposed sanctions. Such an assumption, however, is only partly true due to overly forgiving Illinois state policies. Examples include the Traffic Ticket Exemption, …


How Mobile Homes Correlate With Per Capita Income, Randall K. Johnson Jan 2020

How Mobile Homes Correlate With Per Capita Income, Randall K. Johnson

Faculty Works

This study looks at the nature of the relationship between the number of state-regulated mobile homes and per capita income, so as to determine whether higher-income parts of Illinois have more mobile homes than would be predicted by the conventional wisdom. It does so by identifying a simple way to determine the nature of any relationship between mobile homes and per capita income, which the conventional wisdom assumes to be negative, if only at the county level in Illinois. The study, specifically, collects and analyzes mobile home data from Illinois and per capita income data from the U.S. Census. After …


Lead Plaintiff Incentives In Aggregate Litigation, Charles R. Korsmo, Minor Myers Jan 2019

Lead Plaintiff Incentives In Aggregate Litigation, Charles R. Korsmo, Minor Myers

Faculty Publications

The lead plaintiff role holds out considerable promise in promoting the deterrence and compensation goals of aggregate litigation. The prevailing approach to compensating lead plaintiffs, however, provides no real incentive for a lead plaintiff to bring claims on behalf of a broader group. The policy challenge is to induce sophisticated parties to press claims not in their individual capacity but instead in a representative capacity, conferring a positive externality on all class members by identifying attractive claims, financing ongoing litigation, and managing the work of attorneys. We outline what an active and engaged lead plaintiff could add to the civil …


Why Police Should Protect Complainant Autonomy, Randall K. Johnson Jan 2019

Why Police Should Protect Complainant Autonomy, Randall K. Johnson

Faculty Works

This Essay does its work in, at least, three ways. First, it encourages better use of scarce public sector resources by calling for reform of the police complaint intake process. Next, this Essay identifies the causes of police complaint inefficiencies by critically-assessing how intake is done by the Chicago Police Department (CPD). Lastly, it provides guidance about how to achieve CPD intake reform by better protecting complainant autonomy. Complainant autonomy, at least in this Essay, is defined as a real party in interest’s (i.e. an injured citizen’s) right to control how its allegations are framed by a nominal plaintiff (i.e. …


Uniform Enforcement Or Personalized Law? A Preliminary Examination Of Parking Ticket Appeals In Chicago, Randall K. Johnson Jan 2018

Uniform Enforcement Or Personalized Law? A Preliminary Examination Of Parking Ticket Appeals In Chicago, Randall K. Johnson

Faculty Works

This article is one in a series of papers that sets the record straight about the type, quality and quantity of information that U.S. cities may employ, in order to make more informed policy decisions. It does so, specifically, by examining information that is collected by the City of Chicago. The goal is to gauge the uniformity, as well as the relative cost-effectiveness, of the parking ticket appeals process. The article has six (VI) parts. Part I is the introduction, which sets the stage for a preliminary examination of the parking ticket appeals process in Chicago. Part II describes the …


Were The 1982 Merger Guidelines Old News?, Alan J. Meese, Sarah L. Stafford Dec 2017

Were The 1982 Merger Guidelines Old News?, Alan J. Meese, Sarah L. Stafford

Faculty Publications

This paper examines the impact of the 1982 Department of Justice Merger Guidelines on the stock market prices of publicly traded firms in the United States. We argue that those Guidelines were perceived by the market as a real change in enforcement policy that would result in substantial deregulation of mergers throughout the economy. We conduct an event study of S&P 500 firms to test this hypothesis and find evidence of a significant positive effect on the stock prices of firms in moderately concentrated industries subject to antitrust regulation, the firms for which the 1982 Guidelines articulate a substantially less …


Selling Stock And Selling Legal Claims: Alienability As A Constraint On Managerial Opportunism, Charles R. Korsmo Jan 2017

Selling Stock And Selling Legal Claims: Alienability As A Constraint On Managerial Opportunism, Charles R. Korsmo

Faculty Publications

Scholars have long recognized the importance of market forces as a tool for disciplining the management of public corporations and reducing agency costs. If managers loot or otherwise mismanage the firm, the firm’s stock price will suffer, raising its cost of capital and leaving managers exposed to the threat of a hostile takeover. In recent decades, changing patterns of stock ownership have threatened the viability of this market check on mismanagement. Institutional investors, and particularly index funds, own an increasing portion of publicly traded firms, and face substantial liquidity and other barriers to simply selling their positions. To the extent …


The Value Of The Right To Exclude: An Empirical Assessment, Jonathan Klick, Gideon Parchomovsky Jan 2017

The Value Of The Right To Exclude: An Empirical Assessment, Jonathan Klick, Gideon Parchomovsky

University of Pennsylvania Law Review

Property theorists have long deemed the right to exclude fundamental and essential for the efficient use and allocation of property. Recently, however, proponents of the progressive property movement have called into question the centrality of the right to exclude, suggesting that it should be scaled back to allow the advancement of more socially beneficial uses of property. Surprisingly, the debate between the opponents and detractors of the right to exclude is devoid of any empirical evidence. The actual value of the right to exclude remains unknown. In this Article, we set out to fill this void by measuring, for the …


The Court Of Justice Of The European Union Creates An Eu Law Of Liability For Facilitation Of Copyright Infringement: Observations On Brein V. Filmspeler [C-527/15] (2017) And Brein V. Ziggo [C-610/15] (2017), Jane C. Ginsburg Jan 2017

The Court Of Justice Of The European Union Creates An Eu Law Of Liability For Facilitation Of Copyright Infringement: Observations On Brein V. Filmspeler [C-527/15] (2017) And Brein V. Ziggo [C-610/15] (2017), Jane C. Ginsburg

Faculty Scholarship

After a series of decisions in which the Court of Justice of the European Union appeared to be cutting back on the application of the right of communication to the public with respect to the provision of hyperlinks, the Court’s most recent decisions in Brein v. Filmspeler (C-527/15) and Brein v. Ziggo (C-610/15) concerning, respectively, sale of a device pre-loaded with hyperlinks to illegal streaming sites, and The Pirate Bay BitTorrent platform, indicate instead that the Court’s prior caselaw was in fact gradually advancing toward a European harmonization of the law on derivative liability (i.e., liability in the second degree) …


Hip-Hop And Housing: Revisiting Culture, Urban Space, Power, And Law, Lisa T. Alexander Sep 2016

Hip-Hop And Housing: Revisiting Culture, Urban Space, Power, And Law, Lisa T. Alexander

Lisa T. Alexander

U.S. housing law is finally receiving its due attention. Scholars and practitioners are focused primarily on the subprime mortgage and foreclosure crises. Yet the current recession has also resurrected the debate about the efficacy of place-based lawmaking. Place-based laws direct economic resources to low-income neighborhoods to help existing residents remain in place and to improve those areas. Law-and-economists and staunch integrationists attack place-based lawmaking on economic and social grounds. This Article examines the efficacy of place-based lawmaking through the underutilized prism of culture. Using a sociolegal approach, it develops a theory of cultural collective efficacy as a justification for place-based …


Why U.S. States Need Pension Waiver Credits, Randall K. Johnson Jan 2016

Why U.S. States Need Pension Waiver Credits, Randall K. Johnson

Faculty Works

This article identifies a novel approach to public pension reform, which takes into account existing political and legal constraints. It does its work in four key ways. First, the article encourages better use of public sector resources by calling for the elimination of public pension inefficiencies. Next, it explains how to reduce public pension inefficiencies, on a prospective basis, by moving away from defined-benefit pension plans. Third, the article describes one way to move beyond defined-benefit pension plans through the creation of a new tax expenditure program (specifically, a Pension Waiver Credits Program). Finally, it explains how to implement this …


The Common Knowledge Of Tax Abuse, Mark P. Gergen Nov 2015

The Common Knowledge Of Tax Abuse, Mark P. Gergen

Mark P. Gergen

No abstract provided.


The Property Rights Movement's Embrace Of Intellectual Property: True Love Or Doomed Relationship, Peter S. Menell Aug 2015

The Property Rights Movement's Embrace Of Intellectual Property: True Love Or Doomed Relationship, Peter S. Menell

Peter Menell

No abstract provided.


Analysis Of The Scope Of Copyright Protection For Application Programs, An, Peter S. Menell Aug 2015

Analysis Of The Scope Of Copyright Protection For Application Programs, An, Peter S. Menell

Peter Menell

No abstract provided.


Are You Making Fun Of Me: Notes On Market Failure And The Parody Defense In Copyright, Robert P. Merges May 2015

Are You Making Fun Of Me: Notes On Market Failure And The Parody Defense In Copyright, Robert P. Merges

Robert P Merges

No abstract provided.


Autonomy And Independence: The Normative Face Of Transaction Costs, Robert P. Merges May 2015

Autonomy And Independence: The Normative Face Of Transaction Costs, Robert P. Merges

Robert P Merges

No abstract provided.


Rent Control In The Patent District: Observations On The Grady-Alexander Thesis, Robert P. Merges May 2015

Rent Control In The Patent District: Observations On The Grady-Alexander Thesis, Robert P. Merges

Robert P Merges

No abstract provided.


The Law And Economics Of Employee Inventions, Robert P. Merges May 2015

The Law And Economics Of Employee Inventions, Robert P. Merges

Robert P Merges

No abstract provided.


Intellectual Property Arbitrage: How Foreign Rules Can Affect Domestic Protections, Pamela Samuelson Apr 2015

Intellectual Property Arbitrage: How Foreign Rules Can Affect Domestic Protections, Pamela Samuelson

Pamela Samuelson

No abstract provided.


Probability And Chance In Contract Law, Melvin Aron Eisenberg Mar 2015

Probability And Chance In Contract Law, Melvin Aron Eisenberg

Melvin A. Eisenberg

No abstract provided.


Derecho Y Economía En El Mundo Del Derecho Continental: El Papel De Las Cortes Brasileñas, Bruno Meyerhof Salama, Mariana Pargendler Dec 2014

Derecho Y Economía En El Mundo Del Derecho Continental: El Papel De Las Cortes Brasileñas, Bruno Meyerhof Salama, Mariana Pargendler

Benjamin L. Harwood

Una gran cantidad de literatura documenta el rechazo del análisis económico del derecho en el mundo del derecho continental, y ofrece una extensa lista de posibles razones para esta aparente incompatibilidad. Por lo menos en Brasil, sin embargo, la percepción de que existe un aislamiento entre la práctica del análisis económico y el derecho, es simplemente equivocada. Sin que muchos de los más educados observadores lo sepan, las cortes brasileñas son cada vez más receptivas de los argumentos económicos. Esto sugiere que aquellos que hablan de una resistencia a la aplicación del análisis económico del derecho en Brasil, simplemente han …


Bubbles (Or, Some Reflections On The Basic Laws Of Human Relations), Donald J. Kochan Dec 2014

Bubbles (Or, Some Reflections On The Basic Laws Of Human Relations), Donald J. Kochan

Donald J. Kochan

Very few of us want to live in the absolute isolation of a “bubble.” Most humans cherish the capacity to interact with their external environment even when we know that, at times, such exposure makes us susceptible to all sorts of negative effects ranging from mere annoyance to the contraction of deadly illnesses. Yet, because there are so many positive elements and benefits from that interaction and exposure, we often are willing to take the bitter with the sweet. We tolerate much external exposure to bad things in order to take advantage of the collisions with the good things that …


Economics-Based Environmentalism In The Fourth Generation Of Environmental Law, Donald J. Kochan Dec 2014

Economics-Based Environmentalism In The Fourth Generation Of Environmental Law, Donald J. Kochan

Donald J. Kochan

Environmental protection and economic concerns are not mutually exclusive. This article explores some of the issues of economic analysis that might arise as we approach the fourth generation of environmental law. It explains ways that economic analysis can be employed to generate the best environmental rules, including measures under what this article terms as "economics-based environmentalism." Economics-based environmentalism contends that the advantages of using economic principles within a “polycentric toolbox” of environmental law come from the benefits available in private ordering, markets, property rights, liability regimes and incentives structures that will better protect the environment than alternatives like state-based interventionist, …


A Framework For Understanding Property Regulation And Land Use Control From A Dynamic Perspective, Donald J. Kochan Dec 2014

A Framework For Understanding Property Regulation And Land Use Control From A Dynamic Perspective, Donald J. Kochan

Donald J. Kochan

Our land use control system operates across a variety of multidimensional and dynamic categories. Learning to navigate within and between these categories requires an appreciation for their interconnected, dynamic, and textured components and an awareness of alternative mechanisms for achieving one’s land use control preferences and one’s desired ends. Whether seeking to minimize controls as a property owner or attempting to place controls on the land uses of another, one should take time to understand the full ecology of the system. This Article looks at four broad categories of control: (1) no controls, or the state of nature; (2) judicial …