Law and Economics Commons^™

Appropriations Redux: A Critical Look At The Fiscal Year 1988 Continuing Resolution, Neal Devins

Neal E. Devins

No abstract provided.

Day 1: Wednesday, 17 August 2005: Biodiversity And Critical Habitat, Charles Bedford, Federico Cheever, Tim Sullivan

Tim Sullivan

6 pages (includes color illustration). Contains references.

Public Actors In Private Markets: Toward A Developmental Finance State, Robert Hockett, Saule Omarova

Saule T. Omarova

The recent financial crisis brought into sharp relief fundamental questions about the social function and purpose of the financial system, including its relation to the “real” economy. This Article argues that, to answer these questions, we must recapture a distinctively American view of the proper relations among state, financial market, and development. This programmatic vision – captured in what we call a “developmental finance state” – is based on three key propositions: (1) that economic and social development is not an “end-state” but a continuing national policy priority; (2) that the modalities of finance are the most potent means of …

Allowing Patients To Waive The Right To Sue For Medical Malpractice: A Response To Thaler And Sunstein, Tom Baker, Timothy D. Lytton

Timothy D. Lytton

This essay critically evaluates Richard Thaler and Cass Sunstein’s proposal to allow patients to prospectively waive their rights to bring a malpractice claim, presented in their recent, much acclaimed book, Nudge: Improving Decisions about Health, Wealth and Happiness. We show that the behavioral insights that undergird Nudge do not support the waiver proposal. In addition, we demonstrate that Thaler and Sunstein have not provided a persuasive cost-benefit justification for the proposal. Finally, we argue that their liberty-based defense of waivers rests on misleading analogies and polemical rhetoric that ignore the liberty and other interests served by patients’ tort law rights. …

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

Donald J. Kochan

Reflections On Market Reform In Post-War, Post-Embargo Vietnam, Lan Cao

Lan Cao

No abstract provided.

The Mask Of Virtue: Theories Of Aretaic Legislation In A Public Choice Perspective, Donald J. Kochan

Donald J. Kochan

Los Acuerdos De Libre Comercio Norte-Sur Desde La Perspectiva Del Análisis Económico Del Derecho De Los Contratos, Iván A. Rojas V, José Manuel Alvarez

Iván Rojas V

Oportunidades De Desarrollo Productivo De La Población De Afectación Prioritaria En La Operación Estratégica Fontibón – Aeropuerto Eldorado – Engativá, Iván A. Rojas V

Iván Rojas V

The book analyzes the case of Operation Strategic Fontibón - Eldorado Airport - Engativa (OEFAE) and the implications on the urban economy of the city and potential opportunities for productive development for the population affected by the project in 2010 in Bogotá DC. El libro analiza el caso de la Operación Estrategica Fontibón - Aeropuerto ElDorado - Engativa (OEFAE) y las implicaciones sobre la economía urbana de la ciudad y las posibles oportunidades de desarrollo productivo para la población afectada por el proyecto en el 2010 en la ciudad de Bogotá DC.

¿Es La Separación De Funciones Un Estándar Justiciable Para El Régimen De Sanciones Administrativas?, Sergio Verdugo Sverdugor@Udd.Cl, José Francisco García

Sergio Verdugo R.

Los autores comentan la sentencia del Tribunal Constitucional chileno, que declara la inaplicabilidad de un precepto del Código Sanitario que le permite al Director del Instituto de Salud Pública solicitar al intendente respectivo la privación de libertad de infractores que no hayan pagado multas cursadas con anterioridad, frente a lo cual no existe un posible control judicial que impida la aplicación efectiva de la medida cárcel. Los autores argumentan que el caso es, en realidad, acerca de la separación de funciones, y que el fallo persigue un equilibrio entre el respeto a los derechos de los regulados y el adecuado …

Una América Varias Integraciones: Retos De La Integración Latinoamericana Desde La Fragmentación Y La Convergencia., Iván A. Rojas V

Iván Rojas V

Technology & Torts: A Theory Of Memory Costs, Nondurable Precautions And Interference Effects, Ben Depoorter

Ben Depoorter

This Article examines the influence of nondurable precaution technologies on the expansion of tort awards. We provide four contributions to the literature. First, we present a general, formal model on durable and non-durable precaution technology that focuses on memory costs. Second, because liability exposure creates interference, we argue that tort law perpetuates the expansion of awards. Third, because plaintiffs do not consider the social costs of interference effects, private litigation induces socially excessive suits. Fourth, while new harm-reducing technologies likely increase accident rates, such technologies also raise the ratio of trial costs to harm, leaving undetermined the overall effect of …

On Equality: The Anti-Interference Principle, Donald J. Kochan

Donald J. Kochan

This Essay introduces the “Anti-Interference Principle” – a new term on the meaning of equality, or at least one not yet so-named in the equality lexicon – as a necessary foundation for achieving the goal of true equality. Equality has a long-standing place in the discussion of politics and jurisprudence and remains a struggle of definition today. Rather than rehash the mass of scholarship, this Essay seeks to summarize the general equality concept, and propose that the legal discourse on equality center on a requirement that governmental power must protect and respect equal treatment and opportunity, unconstrained, not equal outcomes. …

Third Party Access And Refusal To Deal In European Energy Networks: How Sector Regulation And Competition Law Meet Each Other, Michael Diathesopoulos

Michael Diathesopoulos

In this paper, we will analyse the issue of concurrence between competition and sector rules and the relation between parallel concepts within the two different legal frameworks. We will firstly examine Third Party Access in relation to essential facilities doctrine and refusal of access and we will identify the common points and objectives of these concepts and the extent to which they provide a context to each other’s implementation. Second, we will focus on how Commission uses sector regulation and objectives as a context within the process of implementation of competition law in the energy sector and third, we will …

Book Review Of Competition Law And Policy In Singapore, By Cavinder Bull, Lim Chong Kin, Academy Publishing, Singapore, 2009, Sock-Yong Phang

PHANG Sock Yong

No abstract provided.

Tort Law And Probabilistic Litigation: How To Apply Multipliers To Address The Problem Of Negative Value Suits, Ben Depoorter

Ben Depoorter

This Article advances a proposal that brings to life valuable lawsuits that litigation costs currently discourage. Our proposal converts claims with negative expected values into positive expected value claims by implementing a novel system involving flexible conditional multipliers. Our proposal has two components. First, under the proposed system a plaintiff is allowed to select a damage multiplier that determines the amount of damages the plaintiff will receive if the litigation is successful. Second, courts select cases for litigation randomly with a probability inverse to the multiplier the plaintiff selected.

Law In The Shadow Of Bargaining: The Feedback Effect Of Civil Settlements, Ben Depoorter

Ben Depoorter

Lawmakers, courts, and legal scholars often express concern that settlement agreements withhold important information from the public. This Essay identifies, to the contrary, problematic issues involving the availability of information on non-representative settlements. The theoretical and empirical evidence presented in this Essay demonstrates that, despite the widespread use of nondisclosure agreements, information on settlements is distributed both inside and outside legal communities, reaching actors through various channels including the oral culture in legal communities, specialized reporters, professional interest organizations, and media coverage. Moreover, information on private settlement agreements circulates more widely if the agreed compensation in a given settlement exceeds …

The Effect Of Representational Gender On Policy Preferences In U.S. Municipalities, Mirya R. Holman

Mirya R Holman

The research presented here explores the effect of gender and gender consciousness on the policy preference of local elected officials. Remedying a gap in the scholarship on women in local office, I examine the attitudes of mayors and council members on a variety of urban policy issues. First positing a gender gap theory of representative attitudes, I find almost no differences in policy preferences between men and women serving in local office. As an alternative, I posit and test a gender consciousness theory of policy preferences. Using open-ended survey data, I find that possessing a gender consciousness has a significant …

Sex And The City: Female Leaders And Spending On Social Welfare Programs In U.S. Municipalities, Mirya R. Holman

Mirya R Holman

Scholars of urban politics have long argued that cities will shy away from extensive funding of social welfare programs, as fiscal realities make developmental policies far more attractive. Despite the arguments against municipal level funding of social welfare services, cities provide these programs. Why? One possible explanation is that local officials prefer funding welfare programs. The research presented here demonstrates that the gender composition of local elected bodies impacts the provision of welfare services. The presence of a female mayor has a large positive effect on the likelihood a city participates in funding welfare programs and the amount of monetary …

Black Tuesday And Graying The Legitimacy Line For Governmental Intervention: When Tomorrow Is Just A Future Yesterday, Donald J. Kochan

Donald J. Kochan

Black Tuesday in October 1929 marked a major crisis in American history. As we face current economic woes, it is appropriate to recall not only the event but also reflect on how it altered the legal landscape and the change it precipitated in the acceptance of governmental intervention into the marketplace. Perceived or real crises can cause us to dance between free markets and regulatory power. Much like the events of 1929, current financial concerns have led to new, unprecedented governmental intervention into the private sector. This Article seeks caution, on the basis of history, arguing that fear and crisis …

Technology & Uncertainty: The Shaping Effect On Copyright Law, Ben Depoorter

Ben Depoorter

This Article examines the symbiotic relationship between copyright law and technology. I describe how an environment characterized by rapid technological change creates two conditions that determine the direction and evolution of copyright law: legal delay and legal uncertainty. I explain how uncertainty over the application of existing copyright law to newly emerging technology catalyzes the actions of copyright owners and users. I argue that uncertainty and delay (1) have an enabling effect on anticopyright sentiments, (2) lead to a greater reliance on self-help efforts by content providers and users, and (3) induce legislative involvement in copyright law. In the final …

Ripe Standing Vines And The Jurisprudential Tasting Of Matured Legal Wines – And Law & Bananas: Property And Public Choice In The Permitting Process, Donald J. Kochan

Donald J. Kochan

From produce to wine, we only consume things when they are ready. The courts are no different. That concept of “readiness” is how courts address cases and controversies as well. Justiciability doctrines, particularly ripeness, have a particularly important role in takings challenges to permitting decisions. The courts largely hold that a single permit denial does not give them enough information to evaluate whether the denial is in violation of law. As a result of this jurisprudential reality, regulators with discretion have an incentive to use their power to extract rents from those that need their permission. Non-justiciability of permit denials …

Competition Law And The Economy In The Russian Federation, 1990-2006, Reza Rajabiun

Reza Rajabiun

Trying To Vote In Good Conscience, Elizabeth F. Brown

Elizabeth F Brown

This Article analyses the U.S. Conference of Catholic Bishops’ statement, Forming Consciences for Faithful Citizenship: A Call to Political Responsibility from the Catholic Bishops of the United States, and how it addresses the economic and environmental issues raised during the 2008 Presidential election.

The Developer’S Decision Calculus: An Agent-Based Model Of Commercial Development, Mirya R. Holman, Travis Coan

Mirya R Holman

While considerable research has been devoted to understanding the impact local regulatory environments on housing development, few studies have examined the implications of land-use regulations for commercial development. The paucity of studies is unfortunate given that commercial development often provides municipalities with considerable economic benefits (e.g., employment) and a crucial source of tax revenue. This study presents a formal model of the commercial development process that explicitly incorporates the dynamic interaction of commercial developers and local cities. Specifically, we construct an agent-based model (ABM) of the commercial development process that represents some key features of the development process. We form …

State Laws And The Independent Judiciary: An Analysis Of The Effects Of The Seventeenth Amendment On The Number Of Supreme Court Cases Holding State Laws Unconstitutional, Donald J. Kochan

Donald J. Kochan

In recent years, the Seventeenth Amendment has been the subject of legal scholarship, congressional hearings and debate, Supreme Court opinions, popular press articles and commentary, state legislative efforts aimed at repeal, and activist repeal movements. To date, the literature on the effects of the Seventeenth Amendment has focused almost exclusively on the effects on the political production of legislation and competition between legislative bodies. Very little attention has been given to the potential adverse effects of the Seventeenth Amendment on the relationship between state legislatures and the federal courts. This Article seeks to fill part of that literature gap, applying …

"Public Use" And The Independent Judiciary: Condemnation In An Interest-Group Perspective, Donald J. Kochan

Donald J. Kochan

This Article reexamines the doctrine of public use under the Takings Clause and its ability to impede takings for private use through an application of public choice theory. It argues that the judicial validation of interest-group capture of the condemnation power through a relaxed public use standard in Takings Clause review can be explained by interest group politics and public choice theory and by institutional tendencies inherent in the independent judiciary. Legislators can sell the eminent domain power to special interests for almost any use, promising durability in the deal given the low probability that the judiciary will invalidate it …