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Articles 1 - 3 of 3
Full-Text Articles in Law and Economics
3d Printing And Healthcare: Will Laws, Lawyers, And Companies Stand In The Way Of Patient Care?, Evan R. Youngstrom
3d Printing And Healthcare: Will Laws, Lawyers, And Companies Stand In The Way Of Patient Care?, Evan R. Youngstrom
Evan R. Youngstrom
Today, our society is on a precipice of significant advancement in healthcare because 3D printing will usher in the next generation of medicine. The next generation will be driven by customization, which will allow doctors to replace limbs and individualize drugs. However, the next generation will be without large pharmaceutical companies and their justifications for strong intellectual property rights. However, the current patent system (which is underpinned by a social tradeoff made from property incentives) is not flexible enough to cope with 3D printing’s rapid development. Very soon, the social tradeoff will no longer benefit society, so it must be …
The Incentive Problems With The All-Or-Nothing Crowdfunding Model, Garry A. Gabison
The Incentive Problems With The All-Or-Nothing Crowdfunding Model, Garry A. Gabison
Garry A. Gabison
This paper discusses how the all-or-nothing model can dis-incentivize crowd investors to perform due diligence over the fraud or failure risks of crowdfunding campaign. Specifically, the major upside of this model is that a project cannot be funded without a critical mass investing. If enough individual in this critical mass of crowd investors perform its due diligence to check whether projects will become successful then the model function; instead, this paper argues that this model incentivizes the crowd to produce noisy information that cannot be relied. In the all-or-nothing model, sequential investments encourages rational investors not perform due diligence because …
¡Las Preferencias Dependen Del Punto De Referencia!: Un Desafío Al Análisis Económico –Y Coaseano– Del Derecho, Daniel A. Monroy
¡Las Preferencias Dependen Del Punto De Referencia!: Un Desafío Al Análisis Económico –Y Coaseano– Del Derecho, Daniel A. Monroy
Daniel A Monroy C
The “coasean” theory of Law and the theory of Law & Economics (L&E) in general, implicitly assume the truthfulness of certain behavioral assumptions: the "preference exogeneity" and "reference independence". In this context, this paper points out some objections to these assumptions, and in this order, the paper shows multiple and deep inconsistencies with regard to: (i) how the L&E predicts individual behavior and the effects of legal rules, and (ii) –from a normative point of view– the way that economic theory recommends the lawmakers decisions. The paper also shows some L&E challenges associated with the behavioral assumption that people value …