Law and Economics Commons^™

The Coase Theorem And The Psychology Of Common-Law Thought, Donald H. Gjerdingen

Articles by Maurer Faculty

The Coase Theorem is a simple proposition-in the absence of transaction costs, a Pareto optimal result will occur regardless of the initial placement of legal liability. Despite this apparent simplicity, however, Coase's economic parable has provoked intense debate in the legal community. Why does the theorem grate on the hardened intuitions of so many lawyers? The thesis of this Article is that a connection exists between the adoption or rejection of a given school of legal thought and the use of certain psychological constructs. Specifically, this Article argues that the constructs underlying the Coase Theorem are incompatible with those underlying …

The "Stationarity" Of Shadow Prices Of Factors In Project Evaluation, With And Without Distortions, Jagdish N. Bhagwati, Henry Wan Jr.

Faculty Scholarship

Until recently, the literature on cost-benefit analysis for projects has been largely within the domain of research on "public monopoly," literature currently reviewed by Jacques Lesourne, (ch. 3), and the work of public finance theorists as typified in the celebrated practical work of Ian Little and James Mirrlees in their Manual, and in the recent theoretical contribution of Peter Diamond and Mirrlees. International trade theorists have, however, turned now to the analysis of these problems, starting with the early work of Vijay Joshi and Deepak Lai, then that of W. M. Corden, and most recently culminating in the contributions of …

The Unemployment Rate: Time To Give It A Rest?, Stewart J. Schwab, John J. Seater

Cornell Law Faculty Publications

The most overworked figure in our society may be the unemployment rate. Newscasters, politicians, and economists use it in discussing everything from the overall health of the economy to the merits of alternative welfare programs. Despite its widespread use, however, the unemployment rate frequently is criticized for not indicating the true state of the economy’s health or of society’s welfare.

If the unemployment rate falls to 4 percent, for example, some economists will argue that it’s too low and that, even though the rate is greater than zero, the economy is overemployed. Others will argue that unemployment has not fallen …

Industrial Deconcentration And Legal Feasibility: The Efficiencies Defense, Joseph F. Brodley

Articles by Maurer Faculty

No abstract provided.

Private Markets And Social Control, Lloyd D. Orr

IUSTITIA

The continuing failure of society to deal adequately with its problems has led to criticism that goes beyond the imperfections of a fundamentally sound social organization. Individual economic incentive and private markets, the basics of our economic organization, are condemned as inherently destructive of desirable social goals. It may be that such criticism is naive with respect to the basic history of economic organization and the prospects for meaningful alternatives. It also may be that the "solutions" offered are frequently more authoritarian than the critics allege the present system to be. We are still left to ponder the vital, long-standing, …

The Dynamics Of Firm Behavior Under Alternative Cost Structures, George A. Hay

Cornell Law Faculty Publications

A large and growing number of studies attempt to determine the important factors affecting firms' decisions with respect to price, output, and inventories. A striking feature of this literature is the embarrassingly large number of alternative models—all allegedly consistent with the principles of profit maximization—which are used to justify various reduced form or behavioral equations to be estimated with the appropriate firm or industry data.

It is rare, however, that the equations to be estimated are derived rigorously from the underlying model. Because of this, the restrictions placed on the equations to be estimated are often limited at worst to …

Book Review. Massive Industrial Size, Classical Economics, And The Search For Humanistic Value, Joseph F. Brodley

Articles by Maurer Faculty

No abstract provided.

Legal Remedies For Overurbanization: The Ghanaian Experience, Robert L. Birmingham, Carolyn S. Birmingham

Articles by Maurer Faculty

No abstract provided.

The Theory Of Economic Policy And The Law Of Torts, Robert L. Birmingham

Articles by Maurer Faculty

No abstract provided.

Economic Integration In East Africa: Distribution Of Gains, Robert L. Birmingham

Articles by Maurer Faculty

No abstract provided.

A Second Look At The Suez Canal Cases: Excuse For Nonperformance Of Contractual Obligations In The Light Of Economic Theory, Robert L. Birmingham

Articles by Maurer Faculty

No abstract provided.

Oligopoly Power Under The Sherman And Clayton Acts -- From Economic Theory To Legal Policy, Joseph F. Brodley

Articles by Maurer Faculty

No abstract provided.

Integration And Economic Development, Robert L. Birmingham

Articles by Maurer Faculty

In this paper I shall attempt to evaluate the potential impact of economic association among underdeveloped countries. Attention is centered on gain achievable by participating states as a group: world welfare alteration appears devoid of normative implication to the national decision maker, while questions of internal distribution of union benefit are too complex for summary treatment. Conclusions of amalgamation efficacy rest jointly on abstract analysis and deduction from empirical economic parameters; discussion of trade and development theory is extended beyond that logically necessary for argument coherence to provide a brief introduction to relevant recent thought.

An International Code To Protect Private Investment -- Proposals And Perspectives, A. A. Fatouros

Articles by Maurer Faculty

No abstract provided.

Economic Integration: Theoretical Assumptions And Consequences Of European Integration, By Rolf F. Sannwald, And Jaques Stohler, Arthur Schweitzer

Indiana Law Journal

No abstract provided.

Hillsborough County Zoning Regulations January 3, 1950 With Amendments July 21, 1950 And August 31, 1952, Board Of County Commissioners Of Hillsborough County, Florida

City and Regional Planning -- Florida

Zoning Regulations for Housing, Industrial, and Commercial use

Our Economic Problem: The Concentration Of Wealth, Hugh Evander Willis

Articles by Maurer Faculty

No abstract provided.