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Full-Text Articles in Law and Economics
A Normative Analysis Of New Financially Engineered Derivatives, Peter H. Huang
A Normative Analysis Of New Financially Engineered Derivatives, Peter H. Huang
Publications
This Article analyzes whether the introduction of new derivative assets makes a society better or worse off. Because trading such non-redundant derivatives produces new distributions of income across time and over possible future contingencies, individuals can utilize such financial instruments to hedge risks not possible before the introduction of these assets. Thus, it may seem that new derivatives unambiguously benefit society. In fact, introducing sufficiently many new derivatives completes asset markets. Asset markets are complete if trading on them can attain every possible payoff pattern of wealth across time and over possible future contingencies. The first fundamental theorem of welfare …
Labor Law And Industrial Peace: A Comparative Analysis Of The United States, The United Kingdom, Germany, And Japan Under The Bargaining Model, Kenneth G. Dau-Schmidt
Labor Law And Industrial Peace: A Comparative Analysis Of The United States, The United Kingdom, Germany, And Japan Under The Bargaining Model, Kenneth G. Dau-Schmidt
Articles by Maurer Faculty
In this Article, Professor Dau-Schmidt provides a comparative analysis of the labor laws of the United States, the United Kingdom, Germany, and Japan for the purposes of identifying which characteristics of a country's labor laws are likely to reduce strike incidence and intensity and promote industrial peace. To identify which characteristics of a country's law are likely to encourage industrial peace, Professor Dau-Schmidt presents game theory arguments based on his analysis of unions and collective bargaining. Dau-Schmidt then provides a simple empirical test as to the relative success of different countries' laws in advancing industrial peace by comparing data on …
Reasons Within Passions: Emotions And Intentions In Property Rights Bargaining, Peter H. Huang
Reasons Within Passions: Emotions And Intentions In Property Rights Bargaining, Peter H. Huang
Publications
This article discusses the role of emotions (or feelings or affects) in property rights bargaining. Real world people choose bargaining strategies based upon not only rational calculations, but also their gut feelings. This article considers the impact of anger and shame on bargaining over property rights and the Coase theorem. Such emotions may depend on beliefs (expectations or assessments) about whether particular strategic decisions should or will occur. Such beliefs can be viewed as attributions over the intentions of others.
Still Preying On Strategic Reputation Models Of Predation, Peter H. Huang
Still Preying On Strategic Reputation Models Of Predation, Peter H. Huang
Publications
No abstract provided.
The Future Debate On Multidisciplinary Practice In The United States, Sydney M. Cone Iii.
The Future Debate On Multidisciplinary Practice In The United States, Sydney M. Cone Iii.
Articles & Chapters
No abstract provided.