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Articles 721 - 747 of 747

Full-Text Articles in Law and Economics

Can Ignorance Be Bliss? Imperfect Information As A Positive Influence In Political Institutions, Michael A. Fitts Apr 1990

Can Ignorance Be Bliss? Imperfect Information As A Positive Influence In Political Institutions, Michael A. Fitts

Michigan Law Review

In Parts I and II, I shall summarize the law-and-economics and civic virtue perspectives on the value of political information and their proposals for reforms in the political process that would stimulate greater political information. These two literatures are often viewed as distinct in their objectives: one seeking to improve means/ends rationality; the other seeking to improve goal formation - a function that I loosely describe as normative, ethical, or value-based. Nevertheless, they share some common practical approaches where information is concerned. In Part Ill, I shall discuss the instrumental advantages to limiting political information, focusing particularly on the role …

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Regulating Regulators: The Legal Environment Of The State, David S. Cohen Jan 1990

Regulating Regulators: The Legal Environment Of The State, David S. Cohen

Elisabeth Haub School of Law Faculty Publications

In this paper I focus on the ability of tort law to reduce primary costs, or losses associated with the number and seriousness of accidents. In one sense I will be analysing the state as if it were a private firm in which losses suffered by private individuals and firms are externalities. Several years ago Mark Spitzer wrote a paper on this topic in which he posited several models of state activity and analysed the incentive effects of liability rules in each case. In my view Spitzer's general conclusion - the rule which may be synthesized from all of the …

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Risk And Design, James E. Krier Jan 1990

Risk And Design, James E. Krier

Articles

Risk springs from uncertainty,' uncertainty invites error, and, since error can be costly, we would prefer to avoid it (provided, of course, that avoidance is not more costly yet). While there is much in the Noll and Krier article2 about judgmental error under conditions of risk and uncertainty, there is little about ways to avoid it. So avoidance-more accurately, minimization-of error costs is the topic I want to address very briefly and partially here.

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Antitrust's Protected Classes, Herbert Hovenkamp Oct 1989

Antitrust's Protected Classes, Herbert Hovenkamp

Michigan Law Review

For purposes of argument, this essay assumes that efficiency ought to be the exclusive goal of antitrust enforcement. That premise is controversial. Nonetheless, several economic and legal theorists, primarily among the Chicago School of economics and antitrust scholarship, have developed an Optimal Deterrence Model based on this assumption. The Model is designed to achieve the optimum, or ideal, amount of antitrust enforcement. The Model's originators generally believe that there is too much antitrust enforcement, particularly enforcement initiated by private plaintiffs. I intend to show that, even if efficiency is the only antitrust policy goal, a broader array of lawsuits should …

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Islands Of Conscious Power: Louis D. Brandeis And The Modern Corporation, Richard Adelstein Dec 1988

Islands Of Conscious Power: Louis D. Brandeis And The Modern Corporation, Richard Adelstein

Richard Adelstein

An intellectual portrait of Louis Brandeis and the contradictions in his philosophy and public life.

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Mind And Hand: Economics And Engineering At The Massachusetts Institute Of Technology, Richard Adelstein Dec 1987

Mind And Hand: Economics And Engineering At The Massachusetts Institute Of Technology, Richard Adelstein

Richard Adelstein

The role of political economy in the curriculum of MIT, with special attention to the thought of Francis Amasa Walker.

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Egoism, Altruism, And Market Illusions: The Limits Of Law And Economics, Jeffrey L. Harrison Jun 1986

Egoism, Altruism, And Market Illusions: The Limits Of Law And Economics, Jeffrey L. Harrison

UF Law Faculty Publications

The primary objective of this Article is to question assumptions in order to show that the conventional economic approach to law and public policy has limited value. The arguments are founded on empirical evidence drawn from many fields of study. An underlying theme is that the current application of economic analysis to law should be regarded as an interim step toward the integration of law with the behavioral, natural, and social sciences.

Part I describes the two forms of the self-interest assumption more completely. This examination reveals that economics and the separate study of law and economics are caught in …

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The Political Consequences Of Labor Law Regimes: The Contractualist And Corporatist Models Compared, Tamara Lothian Dec 1985

The Political Consequences Of Labor Law Regimes: The Contractualist And Corporatist Models Compared, Tamara Lothian

Tamara Lothian

No abstract provided.

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The Un-Easy Case For Technological Optimism, James E. Krier, Clayton P. Gillette Jan 1985

The Un-Easy Case For Technological Optimism, James E. Krier, Clayton P. Gillette

Articles

"Technological optimism" is a term of art, an article of faith, and a theory of politics. It is a view that pervades modem attitudes, yet gets little explicit attention. For a brief period the situation was otherwise. In the early 1970s, the optimistic outlook figured prominently in an important debate about nothing less than the future of the world. Technological optimism won. The outcome was unsurprising, given the nature of the argument. On one side of the debate was a group of self-proclaimed Malthusians who foresaw an impending period of stark scarcity unless relatively drastic remedial steps were quickly taken; …

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Authority, Autonomy, And Choice: The Role Of Consent In The Moral And Political Visions Of Franz Kafka And Richard Posner, Robin West Jan 1985

Authority, Autonomy, And Choice: The Role Of Consent In The Moral And Political Visions Of Franz Kafka And Richard Posner, Robin West

Georgetown Law Faculty Publications and Other Works

In "The Ethical and Political Basis of Wealth Maximization" and two related articles, Professor (now Judge) Richard Posner argues that widely shared pro-autonomy moral values are furthered by wealth-maximizing market transfers, judicial decisions, and legal institutions advocated by members of the "law and economics" school of legal theory. Such transactions, decisions, and institutions are morally attractive, Posner argues, because they support autonomy; wealth-maximizing transfers are those to which all affected parties have given their consent. This Article argues that Posner's attempt to defend wealth-maximization on principles of consent rests on a simplistic and false psychological theory of human motivation. Posner's …

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The Competition Of Technologies In Markets For Ideas: Copyright And Fair Use In Evolutionary Perspective (With Steven Peretz), Richard Adelstein Dec 1984

The Competition Of Technologies In Markets For Ideas: Copyright And Fair Use In Evolutionary Perspective (With Steven Peretz), Richard Adelstein

Richard Adelstein

A theory of intellectual goods as distinct from public or private goods, and the rationale for copyright that flows from it.

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Licensure Of Health Care Professionals: The Consumer's Case For Abolition, Charles Baron Dec 1982

Licensure Of Health Care Professionals: The Consumer's Case For Abolition, Charles Baron

Charles H. Baron

While state medical licensure laws ostensibly are intended to promote worthwhile goals, such as the maintenance of high standards in health care delivery, this Article argues that these laws in practice are detrimental to consumers. The Article takes the position that licensure contributes to high medical care costs and stifles competition, innovation and consumer autonomy. It concludes that delicensure would expand the range of health services available to consumers and reduce patient dependency, and that these developments would tend to make medical practice more satisfying to consumers and providers of health care services.

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The Plea Bargain In England And America: A Comparative Institutional Approach, Richard Adelstein Dec 1980

The Plea Bargain In England And America: A Comparative Institutional Approach, Richard Adelstein

Richard Adelstein

A comparative view of adjudication by guilty plea in the US and the UK.

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Institutional Function And Evolution In The Criminal Process, Richard Adelstein Dec 1980

Institutional Function And Evolution In The Criminal Process, Richard Adelstein

Richard Adelstein

An extended development of the foundations of the price exaction model of the criminal process.

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The Moral Costs Of Crime: Prices, Information And Organization, Richard Adelstein Dec 1978

The Moral Costs Of Crime: Prices, Information And Organization, Richard Adelstein

Richard Adelstein

More on price exaction, and punishments as conveyors of cost information in the criminal process.

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Informational Paradox And The Pricing Of Crime: Capital Sentencing Standards In Economic Perspective, Richard Adelstein Dec 1978

Informational Paradox And The Pricing Of Crime: Capital Sentencing Standards In Economic Perspective, Richard Adelstein

Richard Adelstein

A further development of the price exaction model and an application to the problem of sentencing standards.

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The Negotiated Guilty Plea: A Framework For Analysis, Richard Adelstein Dec 1977

The Negotiated Guilty Plea: A Framework For Analysis, Richard Adelstein

Richard Adelstein

An early exposition of the price exaction framework and the place of plea bargaining in it.

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The Plea Bargain In Theory Dec 1977

The Plea Bargain In Theory

Richard Adelstein

A formal dynamic model of plea bargains.

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Subdivision Exactions And Congestion Externalities (With Noel Edelson) Dec 1975

Subdivision Exactions And Congestion Externalities (With Noel Edelson)

Richard Adelstein

A model of congestion in housing and pricing policy to address it.

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The Negotiated Guilty Plea: A Framework For Analysis, Richard Adelstein Dec 1974

The Negotiated Guilty Plea: A Framework For Analysis, Richard Adelstein

Richard Adelstein

My dissertation of 1975, published by Garland Publishing in their series Outstanding Dissertations in Economics, 1984

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Just Compensation And The Assassin's Bequest: A Utilitarian Approach, Richard Adelstein Dec 1973

Just Compensation And The Assassin's Bequest: A Utilitarian Approach, Richard Adelstein

Richard Adelstein

An analysis of Porter v. United States (1973), a case involving the value of items owned by Lee Harvey Oswald.

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The Problem Of Social Cost Revisited, Donald H. Regan Jan 1972

The Problem Of Social Cost Revisited, Donald H. Regan

Articles

SOME years ago, in a paper entitled "The Problem of Social Cost," Professor Ronald Coase asserted and argued for a proposition which has since acquired the convenient sobriquet "the Coase Theorem." The proposition is: That in a world of perfect competition, perfect information, and zero transaction costs, the allocation of resources in the economy will be efficient and will be unaffected by legal rules regarding the initial impact of costs resulting from externalities. Note that there are two claims being made, which it is well to separate for purposes of discussion. The first claim is that, under the conditions described, …

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Nociones Generales De Derecho Procesal Civil, Edward Ivan Cueva Jan 1966

Nociones Generales De Derecho Procesal Civil, Edward Ivan Cueva

Edward Ivan Cueva

No abstract provided.

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The Regulation Of Specialty Policies In Life Insurance, Spencer L. Kimball, Jon S. Hanson Dec 1963

The Regulation Of Specialty Policies In Life Insurance, Spencer L. Kimball, Jon S. Hanson

Michigan Law Review

Every entrepreneur is vitally concerned with selling methods. Success depends upon sales. Sales depend upon desire for the product. Desire for most products, including life insurance, is not inherent but is created by the efforts of the entrepreneur. In the case of life insurance, an effective job of creating the desire, i.e., of selling, is usually necessary to convince a prospective insurance buyer that over a long period he should allocate a significant portion of his income to the purchase of an intangible such as life insurance.

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Fundamentos Del Derecho Procesal Civil, Edward Ivan Cueva Jan 1958

Fundamentos Del Derecho Procesal Civil, Edward Ivan Cueva

Edward Ivan Cueva

No abstract provided.

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Federal Taxation: Perspective During The Fifth Decade, J. W. Riehm May 1954

Federal Taxation: Perspective During The Fifth Decade, J. W. Riehm

Michigan Law Review

Since the enactment of the income tax provisions of the Tariff Act of October 3, 1913 forty years have elapsed within which we have seen a profound change in the revenue system of our federal government, the growth of a great new branch of public law, the development of a highly specialized field of legal practice and the publication in legal periodicals of innumerable articles on the subject of taxation. Tax men can, with great pride, point out that technical proficiency has done an amazing job of keeping pace with the rapid expansion of the system from the utilization of …

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Rostow: A National Policy For The Oil Industry., Michigan Law Review Apr 1948

Rostow: A National Policy For The Oil Industry., Michigan Law Review

Michigan Law Review

A Review of A NATIONAL POLICY FOR THE OIL INDUSTRY. By Eugene V. Rostow.

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