Law and Economics Commons^™

A Primer On Prejudgment Interest, Michael S. Knoll

All Faculty Scholarship

No abstract provided.

Is Turn About Fair Play? Copyright Law And The Fair Use Of Computer Software Loaded Into Ram, Chad G. Asarch

Michigan Law Review

Computer systems, especially those in heavy-use commercial settings, often require routine maintenance to continue functioning properly. Many businesses turn to an independent service organization ("IS0") to provide computer maintenance services because ISOs frequently charge less than the original equipment manufacturer ("OEM") for those services. The tremendous growth in computer use has spawned a multi-billion dollar computer maintenance industry in the United States, and ISOs and OEMs have become engaged in fierce competition for this computer service business. The struggle between ISOs and OEMs to capture this expanding market has spilled over into the courts, spawning a number of recent decisions …

Revitalizing Environmental Federalism, Daniel C. Esty

Michigan Law Review

Politicians from Speaker Newt Gingrich to President Bill Clinton, cheered on by academics such as Richard Revesz, are eagerly seeking to return authority over environmental regulation to the states. In the European Union, localist opponents of environmental decisionmaking in Brussels rally under the banner of "subsidiarity." And in debates over international trade liberalization, demands abound for the protection of "national sovereignty" in environmental regulation. All of these efforts presume that a decentralized approach to environmental policy will yield better results than more centralized programs. This presumption is misguided. While the character of some environmental concerns warrants a preference for local …

Lending Discrimination: Economic Theory, Econometric Evidence, And The Community Reinvestment Act, Keith N. Hylton, Vincent D. Rougeau

Faculty Scholarship

Although it has been settled law for almost two decades, there has been a heightened interest in the Community Reinvestment Act (CRA) over the last several years. One factor driving this interest is the continuing economic decline of the inner cities and the consequent widening of the wealth gap between cities and surrounding suburbs in many areas of the country. A second factor is the consolidation of the banking industry, which has encouraged expansion-oriented banks to improve their CRA ratings to gain the approval of regulators. A recent effort to enhance enforcement of the statute, in part the result of …

The Rise Of Balanced Budget Laws In Canada: Legislating Fiscal (Ir)Responsibility, Lisa C. Philipps

Osgoode Hall Law Journal

Virtually unknown in Canada before the 1990s, balanced budget legislation has suddenly become popular across the country. The author examines the wide diversity of mechanisms being used to limit state fiscal powers, including spending caps, anti-deficit rules, and tax referenda. Evaluating these measures, the author raises concerns about the impact of balanced budget laws on economic stability, social justice, and political democracy. She warns against discounting either their instrumental effects or their power to shape public finance discourse. Though some provinces have adopted less severe versions, the author concludes that these efforts only partially mitigate the dangers of balanced budget …

Toward A Feminist Analytics Of The Global Economy, Saskia Sassen

Indiana Journal of Global Legal Studies

Economic globalization has reconfigured fundamental properties of the

nation-state, notably territoriality and sovereignty. There is an incipient

unbundling of the exclusive territoriality we have lcing associated with the

nation-state. The most strategic instantiation of this unbundling is probably

the global city, which operates as a partly denationalized plaform for global

capital. Sovereignty is being unbundled by these economic and other noneconomic

practices and new legal regimes. At the limit this means that the

State is no longer the only site for sovereignty and the normativity that comes

with it, and further, that the State is no longer the exclusive subject …

Antitrust Balancing In A (Near) Coasean World: The Case Of Franchise Tying Contracts, Alan J. Meese

Michigan Law Review

Antitrust law has largely succumbed to the hegemony of balancing. Courts applying the rule of reason are told to balance a restraint's procompetitive effects against its anticompetitive impact. Mergers once deemed anticompetitive solely because they facilitated the exercise of market power are now evaluated by weighing the anticompetitive effects of such increased power against any efficiencies created by the transaction. Finally, some activities once deemed per se illegal are now subject to a balancing approach, either by explicit application of the rule of reason, or by recognition of certain affirmative defenses to otherwise per se violations. Unlike many other balancing …

Risky Business, Michael S. Baram

Faculty Scholarship

In prior studies by high-level commissions, emphasis was given to improving the scientific basis and institutional procedures for risk assessment and risk regulation within existing statutory frameworks. Recommendations have led to slow but steady progress. This study is considerably different. It emphasizes a public health approach for efficient use of resources in a new flexible framework for risk management, reductionist approaches to risk assessment and characterization, increased public involvement, and various methods for managing such public involvement. It provides a mix of aspirations and concepts, procedures, and "shop floor rules" for putting the new system of risk management into practice. …

Securing Russia's Future: A Plea For Reform In Russian Secured Transactions Law, Jason J. Kilborn

Michigan Law Review

After many turbulent years of uneasy transition to a market economy, Russia is finally "open for business." Nonetheless, the transitional period remains far from over, and Russian enterprises are still starved for capital that they desperately need for retooling to convert from military to consumer production, for acquiring new equipment to replace old and worn machinery, and for undertaking new and lucrative projects. While Russian financial institutions may provide significant funding, their reserves are limited; they could not hope to finance independently the multitude of existing and potential enterprises within the expansive Russian territory. Therefore, much of the financing for …

Dividing The Surplus: Will Globalization Give Women A Larger Or Smaller Share Of The Benefits Of Cooperative Production?, Kenneth G. Dau-Schmidt

Indiana Journal of Global Legal Studies

No abstract provided.

Toward A Tax-Based Explanation Of The Liability Insurance Crisis, Kyle D. Logue

Articles

The so-called liability insurance crisis of 1985 and 1986 transformed the way we think about tort law and about liability insurance markets. The crisis phenomena, which first appeared in late 1984 and lasted until mid-1986, consisted of enormous increases in liability insurance premiums and alarming reductions in the availability of certain types of liability coverage. In the two principal liability lines of insurance (Other Liability and Medical Malpractice), premiums increased by hundreds (in some cases thousands) of percentage points in a matter of months. At the same time, the availability of liability insurance contracted sharply. The liability policies that were …

Economic Foundations Of The Current Regulatory Reform Efforts, W. Kip Viscusi

Vanderbilt Law School Faculty Publications

Almost since the inception of the risk and environmental agencies in the early 1970s, there has been a continuing concern with ensuring that regulations yield societal benefits commensurate with their costs. This recognition of the need for balance, in turn, has led policymakers to seek a greater role for economists, and the principles of economic analysis undoubtedly will continue to play a central role in the debate over the future of regulatory policy.

Essential Elements Of Amendments To The Endangered Species Act, John Harja

Biodiversity Protection: Implementation and Reform of the Endangered Species Act (Summer Conference, June 9-12)

14 pages.

Endangered Species Act Reform Proposals: An Environmentalist’S Perspective, Wm. Robert Irvin

Biodiversity Protection: Implementation and Reform of the Endangered Species Act (Summer Conference, June 9-12)

11 pages.

The Endangered Species: The Urban Water Utility Perspective, Chips Barry

Biodiversity Protection: Implementation and Reform of the Endangered Species Act (Summer Conference, June 9-12)

24 pages.

The Endangered Species Act—Economic Impacts: The Perception And The Numbers, Jon A. Souder

Biodiversity Protection: Implementation and Reform of the Endangered Species Act (Summer Conference, June 9-12)

13 pages (includes illustrations).

Contains 2 pages of references.

Agenda: Biodiversity Protection: Implementation And Reform Of The Endangered Species Act, University Of Colorado Boulder. Natural Resources Law Center

Biodiversity Protection: Implementation and Reform of the Endangered Species Act (Summer Conference, June 9-12)

Conference organizers and/or faculty included University of Colorado School of Law professors Betsy Rieke, David H. Getches, Michael A. Gheleta and Charles F. Wilkinson.

All across the country--in Congress, in state legislatures and in urban and rural communities--people are discussing why we should or should not protect biodiversity and how best to do so. Since the Endangered Species Act is up for reauthorization, a variety of reform proposals are being debated. Speakers--including natural resource scholars, experts from the private and nonprofit sectors, and government officials--will examine the rationale for biodiversity protection, the legal framework of the Endangered Species Act, and …

Positivism And The Separation Of Law And Economics, Avery Wiener Katz

Michigan Law Review

The goal of this essay is to explain this problem and to translate the meaning of positivism between legal and economic cultures, in order to show economists and lawyers why much of the debate about the jurisprudential merits of law and economics misses the mark. My thesis is that it is positivism, and the way economic culture treats the positive-normative distinction, that is responsible for much of the gulf between law and economics - but that it is also positivism that makes economics so appealing to so many lawyers and legal scholars. For a positivist approach can be useful to …

Game Theory And The Law: Ready For Prime Time?, Stephen W. Salant, Theodore S. Sims

Michigan Law Review

A Review of Douglas G. Baird, Robert H. Gertner, and Randal C. Picker, Game Theory and the Law

How Will Welfare Recipients Fare In The Labor Market?, Jeffrey S. Lehman, Sheldon Danziger

Cornell Law Faculty Publications

No abstract provided.

Takings From Freund To Fischel." Review Of Regulatory Taking: Law, Economics, And Politics, By W. A. Fischel, James E. Krier

Reviews

The regulatory takings problem is easy to describe but difficult to resolve. The government enacts restrictions on land use that reduce the market value of the targeted parcels by a considerable amount. The restrictions are couched in terms of the police power, but actually they might amount to a taking that requires compensation, not because any of the land has been wrested away (it hasn't), but because much of the value has. Through the police power the government gets to govern for free, whereas with takings it's pay as you go. On what does the distinction-police power or taking-depend?

Legal Aspects Of The New International Economic Order - Moving Towards A Viable Framework For Development In Sub-Saharan Africa, Idara Ekaete Bassey

LLM Theses and Essays

While the primary objective of the United Nations is to maintain peace and security, Article 55 of the Charter also tasks the U.N. with facilitating higher standards of living, full employment, and social and economic development. To achieve this goal, the U.N. adopted three instruments which make up the New International Economic Order (NIEO). This thesis assesses the goals for development in the Third World, focusing on sub-Saharan Africa, and the NIEO’s capacity to serve in that regard. Sub-Saharan Africa is larger in land area than the U.S. and has abundant natural resources and agricultural land, so the basis for …

Major Changes In Council Regulation 3283/94: Its Compatibility With The Uruguay Round Anti-Dumping Code, Sangsoo Son

LLM Theses and Essays

Dumping can be defined as exporting goods at prices below those charged on the domestic market or at prices insufficient to recover the cost of the goods sold. Dumping is considered an unfair trading practice because it interferes with free market economy principles. During the 1980s, anti-dumping measures were an important issue for a few developed countries that had attractive markets for foreign producers; these countries were the United States, the European Community, Canada, and Australia. The European Community (EC) has developed its own anti-dumping laws over the years; Article 113 of the EEC Treaty gives power to Community institutions …

Analysis Of The U.S. Regulations Of Derivatives: Does The Use Of Such Complicated Instruments Pose A Serious Threat To The Safety And Soundness Of The U.S. Banking System?, Erwin De Deyn

LLM Theses and Essays

In the last fifteen years, the globalization of financial markets and institutions along with innovative investment strategies have caused an irreversible revolution in the world’s financial markets. Investors and managers can now use new instruments, such as derivatives, for guarding against financial risks. Derivatives are financial instruments whose returns are derived from other assets or variables, like futures and options. The growth of derivative markets has accelerated rapidly in the last ten years, which has caused financial markets in the United States and throughout the world to be more efficient, which contributes to economic welfare. However, the dramatic growth in …

Increasing Recognition Of Enterprise Principles In Determining Parent And Subsidiary Corporation Liabilities, The, Phillip Blumberg

Faculty Articles and Papers

No abstract provided.

The Implications Of The New Regime For Global Competition Policy: Intellectual Property Rights, Economic Power, And Global Technological Integration, David J. Gerber

All Faculty Scholarship

No abstract provided.

The Need For The Harmonisation Of Trade Laws In The Southern African Development Community (Sadc), Muna Ndulo

Cornell Law Faculty Publications

No abstract provided.

The Past, Present, And Future Of Law And Economics, George A. Hay

Cornell Law Faculty Publications

Any discussion about law and economics ought to begin with a definition or at least an explanation of what it is we are talking about. There is, however, a risk in starting there. Just as classics scholars may debate endlessly about who precisely should be counted as a classicist or philosophers might debate who can properly be counted as a Kantian, there is likely to be no consensus about precisely what counts as law and economics or who is doing it. Indeed, the acknowledged superstar and chief guru of the law and economics movement, Judge Richard Posner, has argued that, …

Can Families Be Efficient? A Feminist Appraisal, Ann Laquer Estin

Michigan Journal of Gender & Law

This Article examines the convergence of feminist and law and economics theory on family law questions, particularly issues of marriage and divorce. Both feminist legal theory and law and economics analysis have come to occupy a significant place in the American legal academy, demonstrated by growing numbers of conferences, journals, casebooks and monographs, and electronic mail lists in each area. Not surprisingly, as the two fields have grown, they have begun to touch, to overlap, and occasionally to come into conflict. This process has been evident in the extensive literature on sex discrimination in employment and is increasingly apparent in …

Women's Rights And Political Economy, Tamara Lothian

Tamara Lothian

No abstract provided.