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Articles 91 - 98 of 98
Full-Text Articles in Law and Economics
The Role Of Groups In Norm Transformation: A Dramatic Sketch, In Three Parts, Robert B. Ahdieh
The Role Of Groups In Norm Transformation: A Dramatic Sketch, In Three Parts, Robert B. Ahdieh
Faculty Scholarship
Legal scholars, as well as economists, have focused limited attention on the role of coordinated groups of market participants - committees, clubs, associations, and the like - in social ordering generally and in the evolution of norms particularly. One might trace this neglect to some presumptive orientation to state actors (expressive law) and autonomous individuals (norm entrepreneurs) as the sole parties of interest in social change. Yet, alternative stories of social ordering and norm change might also be told. Dramatic recent changes in the contracting practices of the sovereign debt markets offer one such story.
Using the latter by way …
Destabilizing The Normalization Of Rural Black Land Loss: A Critical Role For Legal Empiricism, Thomas W. Mitchell
Destabilizing The Normalization Of Rural Black Land Loss: A Critical Role For Legal Empiricism, Thomas W. Mitchell
Faculty Scholarship
Mitchell's study exemplifies the New Legal Realist goal of combining qualitative and quantitative empirical research to shed light on important legal and policy issues. He also demonstrates the utility of a ground-level contextual analysis that examines legal problems from the bottom up. The study tracks processes by which black rural landowners have gradually been dispossessed of more than 90% of the land held by their predecessors in 1910. Mitchell points out that despite the continuing practices that contribute to this problem, there has been very little research on the issue, and what little attention legal scholars have paid to it …
Between Mandate And Market: Contract Transition In The Shadow Of The International Order, Robert B. Ahdieh
Between Mandate And Market: Contract Transition In The Shadow Of The International Order, Robert B. Ahdieh
Faculty Scholarship
Boilerplate in sovereign debt contracts issued in the United States has long dictated the unanimous consent of bondholders to any debt restructuring. This requirement persisted for decades, notwithstanding wide consensus that such unanimous action provisions increased transaction costs, produced inefficient delays in debt restructuring, enhanced the moral hazards of the sovereign debt market, and otherwise encouraged collective action failures. Yet the sovereign debt markets has recently made an about-face, replacing the unanimity requirement for debt restructuring with a less demanding provision for collective, or majority, action by creditors. Completed over the course of just a few months in 2003, this …
Law's Signal: A Cueing Theory Of Law In Market Transition, Robert B. Ahdieh
Law's Signal: A Cueing Theory Of Law In Market Transition, Robert B. Ahdieh
Faculty Scholarship
Securities markets are commonly assumed to spring forth at the intersection of an adequate supply of, and a healthy demand for, investment capital. In recent years, however, seemingly failed market transitions - the failure of new markets to emerge and of existing markets to evolve - have called this assumption into question. From the developed economies of Germany and Japan to the developing countries of central and eastern Europe, securities markets have exhibited some inability to take root. The failure of U.S. securities markets, and particularly the New York Stock Exchange, to make greater use of computerized trading, communications, and …
Making Markets: Network Effects And The Role Of Law In The Creation Of Strong Securities Markets, Robert B. Ahdieh
Making Markets: Network Effects And The Role Of Law In The Creation Of Strong Securities Markets, Robert B. Ahdieh
Faculty Scholarship
As Russia and other formerly socialist states construct market economies, the appearance of strong securities markets remains an unfulfilled expectation. Notwithstanding broad privatization of state-owned enterprises and the elimination of industrial subsidies - essential precursors to demand for capital-raising securities markets - stock markets in Central and Eastern Europe remain illiquid, inefficient, and unreliable.
Strong securities markets do not, it seems, neatly follow from the welfare-maximizing behavior of individuals and institutions. Nor can the appearance of securities markets be effectively dictated by government decree. Post-communist securities market transition therefore presents a puzzle: Do markets emerge, or must they be created? …
An Economic Analysis Of Domain Name Policy, Karl M. Manheim, Lawrence B. Solum
An Economic Analysis Of Domain Name Policy, Karl M. Manheim, Lawrence B. Solum
Faculty Scholarship
One of the most important features of the architecture of the Internet is the Domain Name System (DNS), which is administered by the Internet Corporation for Assigned Names and Numbers (ICANN). Logically, the DNS is organized into Top Level Domains (such as .com), Second Level Domains (such as amazon.com), and third, fourth, and higher level domains (such as www.amazon.com). The physically infrastructure of the DNS consists of name servers, including the Root Server System which provides the information that directs name queries for each Top Level Domain to the appropriate server. ICANN is responsible for the allocation of the root …
Foreword: Nafta As A Lesson For Globalization, Elizabeth Trujillo
Foreword: Nafta As A Lesson For Globalization, Elizabeth Trujillo
Faculty Scholarship
Since its enactment, NAFTA has impacted international business among its members and it has awakened concerns of the environmental and labor challenges that the participating countries face as they move toward economic integration. Among the many challenges, coping with the economic, legal, and cultural differences that exist among the partners has been difficult. The nations must continue to work together to harmonize their laws in such a way that allows for easier integration without impeding their sovereign power to enact laws that address local needs. At the conference entitled “NAFTA at Ten: Harmonization and Legal Transformation,” held on June 14-15, …
Law And Economics And Tort Law: A Survey Of Scholarly Opinion, Andrew P. Morriss, John C. Moorhouse, Robert Whaples
Law And Economics And Tort Law: A Survey Of Scholarly Opinion, Andrew P. Morriss, John C. Moorhouse, Robert Whaples
Faculty Scholarship
Recent litigation brought against cigarette manufacturers, software companies over potential year 2000 computer problems, and a fast food restaurant for serving coffee that was allegedly too hot reminds us of the importance and dynamic nature of tort law in the United States. Judging from ongoing coverage by newspapers and television, tort law is newsworthy. Yet, as with other legal issues, it is within the covers of law reviews and specialty journals in economics that much of the debate over the social utility of various tort rules and their reform takes place. In that debate law and economics exercises great influence. …