Law and Economics Commons^™

Psychological Impact Of Scrutiny On Contingent Fee Attorney Effort, Robert E. Thomas

West Virginia Law Review

No abstract provided.

The Political Economy Of Statutory Reach: U.S. Disclosure Rules In A Globalizing Market For Securities, Merritt B. Fox

Michigan Law Review

This Article addresses the appropriate reach of the U.S. mandatory securities disclosure regime. While disclosure obligations are imposed on issuers, they are triggered by transactions:- the public offering of, or public trading in, the issuers' shares. Share transactions are taking o n an increasingly transnational character. The barriers to a truly global market for equities continue to lessen: financial information is becoming increasingly globalized and it is becoming increasingly inexpensive and easy to effect share transactions abroad. There are approximately 41,000 issuers of publicly traded shares in the world. For an ever larger portion of these issuers, there will be …

The Growing Pains Of Behavioral Law And Economics, Thomas S. Ulen

Vanderbilt Law Review

We are at the beginning of behavioral law and economics. We now see only dimly the outlines of the elaborate theory of decision making that is to come. We are like the independent scholars who examined the various parts of a very large animal and then tried to put together their reports to describe that animal; we each have bits and pieces of the elephant but no clear image of the entire beast. But we should not despair. We must remember that this behavioralist discipline is, as scholarly developments go, young. Indeed, the conventional law and economics model, to which …

Comment: The Future Of Behavioral Economic Analysis Of Law, Jennifer Arlen

Vanderbilt Law Review

Behavioral economic analysis of law presents an important challenge to conventional law and economics, strengthened in part by the fact that conventional law and economics is itself a behavioral approach to law. Indeed, conventional law and economics can be viewed as the first widely-adopted behavioral approach to law. A central contribution of Ronald Coase's pathbreaking article was the claim that one cannot determine the effect of a law by simply looking at the law itself--at the conduct the law requires. Instead, one must determine how people will respond to the law.' Legal rules, he argued, do not dictate behavior-they simply …

Can There Be A Behavioral Law And Economics?, Samuel Issacharoff

Vanderbilt Law Review

The emergence of the modern law and economics analysis generally is dated to the early 1960s with the publication of seminal work by Ronald Coase' and subsequently by Guido Calabresi and Douglas Melamed. These articles laid the foundation for the relation between legal rules, wealth maximization, and transaction costs, which provided the pivotal application of economic analysis to legal problems. However, the current sweep of law and economics would have been inconceivable without Gary Becker's insight into the application of neoclassical comparisons of marginal utility to the stuff of everyday life. Becker's analysis of routine decision making in terms of …

Lochner In Cyberspace: The New Economic Orthodoxy Of "Rights Management", Julie E. Cohen

Michigan Law Review

Ninety-three years ago, in Lochner v. New York, the Supreme Court struck down a maximum-working-hours law for bakers as an impermissible invasion of employer-employee liberty of contract and, by implication, of the employer's property rights in his business. Lochner came to symbolize, and was vilified for, a vision of state power as rigidly circumscribed by the operation of judicially-determined laws of social ordering. By the late 1930s, the Court had changed course and accepted that the states' police power - or, in the case of Congress, the commerce power - encompassed even protective regulation of the parameters of the private …

Putting Rational Actors In Their Place: Economics And Phenomenology, Edward L. Rubin

Vanderbilt Law Review

The model of human behavior that is used in microeconomics is both normative and descriptive. As a normative model, it is an historical successor to the medieval concept of grace and the Renaissance concept of virtue. As a descriptive model, it is a theory of human psychology. Economists tend to deemphasize this point be- cause psychology is a notoriously "soft" science, and economists aspire to the "hard" sciences' precision. Nonetheless, any model that states the way human beings behave under specified circumstances is necessarily a theory of the way the human mind functions, and thus be- longs in the category …

Competition And Cooperation, Saul Levmore

Michigan Law Review

When do competitors share assets and other opportunities for mutual gain? Conversely, when do they prefer to distinguish themselves by establishing firm boundaries that produce a minimum of sharing or cooperation despite potential gains from trade? Why, for example, do competing law schools in a single city cooperate so little in offering joint programs and economizing on certain costs even as they use the same casebooks in their courses and borrow from one another's libraries? Why do two competing auto makers rarely sell one another components or use the same expert advertising agency or law firm but then quite often …

Social Rights And Economic Development: Converging Discourses?, Henry J. Steiner

Buffalo Human Rights Law Review

No abstract provided.

Beyond Justiciability: Challenges Of Implementing/Enforcing Socio-Economic Rights In South Africa, Shadrack B. O. Gutto

Buffalo Human Rights Law Review

No abstract provided.

The Effect Of Free Trade, Privatization And Democracy On The Human Rights Conditions For Minorities In Eastern Europe: A Case Study Of The Gypsies In The Czech Republic And Hungary, Marc W. Brown

Buffalo Human Rights Law Review

No abstract provided.

Public Choice Revisited, Daniel A. Farber, Philip P. Frickey

Michigan Law Review

Although not the first book on public choice_ for a legal audience, Max Stearns's Public Choice and Public Law is the first full-scale textbook for law school use. An ambitious undertaking by a rising young scholar, the book provides law students with a comprehensive introduction to public choice. Public choice - essentially, the application of economic reasoning to political institutions - has become a significant aspect of public law scholarship. Indeed, in his Foreword, Saul Levmore hails public choice as "[t]he most exciting intellectual development in law schools in the last decade" (p. xi). Be that as it may, the …

The Future Of Enterprise Organizations, Eric W. Orts

Michigan Law Review

Both the law and business schools at the University of Michigan offer a basic course in Enterprise Organization. This tradition owes to the influence of Professor Alfred Conard, one of the leading scholars of his generation, who taught during most of his career at the University of Michigan Law School. The tradition persists in part because Enterprise Organization suggests an appropriately broad view of its topic, unlike more common course titles such as Corporations or Business Associations. We live in a world populated not only by people but also the organized legal entities we create. Business firms and nonprofit organizations …

Public Choice Theory And The Fragmented Web Of The Contemporary Administrative State, Jim Rossi

Michigan Law Review

Since World War II, public choice theory - defined broadly as the application of the assumptions and methodology of microeconomics to describe or predict the way public officials exercise power - has grown from a fledgling movement, gaining mainstream acceptance and respect for its insights into voting behavior, judicial decisionmaking, and other public actions. Although a theory first explored by economists and political scientists, public choice's normative insights have earned credibility in recent years in academic legal literature. Public choice's acceptance in the law school curriculum is demonstrated by the recent publication of course material on the topic. However, despite …

Focus On Fairness, Efficiency, And The Law: Response. Efficiency And Equity: What Else Can Be Gained By Combining Coase And Rawls, Russell B. Korobkin, Thomas S. Ulen

Washington Law Review

Professors Swygert and Yanes seek to bring efficiency and equity to bear explicitly on the economic analysis of law by merging Rawlsean social contract philosophy into law and economics' basic premise, the Coase Theorem. We are in complete agreement with Swygert and Yanes that good legal policy should be concerned with both efficiency and equity, and we welcome their attempt to merge the two as a useful step in an important debate. Ultimately, though, we are unconvinced by their argument as it currently stands for two reasons. First, by focusing only on the way in which their approach might affect …

Focus On Fairness, Efficiency, And The Law: Response. An Integration Of Equity And Efficiency, Richard O. Zerbe Jr.

Washington Law Review

Swygert and Yanes, in an article in this issue of the Washington Law Review, suggest a means to achieve this integration. In this Article, I first discuss the shortcomings of the approach suggested by Swygert and Yanes. Next, I suggest a more practical approach for integrating efficiency and equity that relies on benefit cost analysis. Finally, I consider some of the cases to which Swygert and Yanes apply their analysis. The fundamental shortcoming of the Swygert and Yanes approach is that it offers little for deciding practical cases. The authors combine two abstract and heuristic proposals and quite naturally …

Focus On Fairness, Efficiency, And The Law. A Unified Theory Of Justice: The Integration Of Fairness Into Efficiency, Michael I. Swygert, Katherine Earle Yanes

Washington Law Review

An idea generally shared by both economists and philosophers is that a legal rule may either achieve distributive fairness or bring about an efficient outcome, but not both. In this Article, the authors argue that justice requires that legal rules consider both fairness and efficiency. The Article discusses the Coase Theorem, as a tool for determining the most efficient allocation of rights and duties, and the ideas of John Rawls for deriving a fair social contract. The authors then combine aspects of these two hypothetical consensus models into a unified theory of justice that considers the question of what agreements …

The Political Economy Of Cooperative Federalism: Why State Autonomy Makes Sense And "Dual Sovereignty" Doesn't, Roderick M. Hills Jr.

Michigan Law Review

It is commonplace to observe that "dual federalism" is dead, replaced by something variously called "cooperative federalism," "intergovernmental relations," or "marble-cake federalism." According to this conventional wisdom, state and local officials do not enforce merely their own laws in their distinct policymaking sphere. Rather, as analyzed in a voluminous literature, state and local governments also cooperate with the federal government in many policymaking areas, ranging from unemployment insurance to historic preservation. These nonfederal governments help implement federal policy in a variety of ways: by submitting implementation plans to federal agencies, by promulgating regulations, and by bringing administrative actions to enforce …

Time Passage And The Economics Of Coming To The Nuisance: Reassessing The Coasean Perspective, Roy E. Cordato

Campbell Law Review

No abstract provided.

U.S. Income Taxation Of Foreign Parties: A Primer, Ernest R. Larkins

Syracuse Journal of International Law and Commerce

Over the last five years for which data are available, the number of foreign corporations showing net income on Form 1120F, U.S. Income Tax Return of a Foreign Corporation, has increased 36.5 percent. [1] In addition, the number of individuals granted temporary stays in the United States as non-immigrants has steadily increased from 9.5 million in 1985 to 24.8 million in 1996, an average annual increase of 9.1 percent. [2] These increases evidence growing opportunities to serve international clients and suggest that tax professionals must have a fundamental working knowledge of the way the U.S. tax system treats foreign parties. …

Front Matter

Syracuse Journal of International Law and Commerce

No abstract provided.

Economic Espionage: The Front Line Of A New World Economic War

Syracuse Journal of International Law and Commerce

No abstract provided.

The Sps Agreement Of The World Trade Organization And International Organizations: The Roles Of The Codex Alimentarius Commission, The International Plant Protection Convention, And The International Office Of Epizootics, Terence P. Stewart, David S. Johanson

Syracuse Journal of International Law and Commerce

The proper fanctioning of the Agreement on the Application of Sanitary and Phytosanitary Measures (SPS Agreement) of the World Trade Organization (WTO) depends in part upon three international organizations, the Codex Alimentarius Commission (Codex), the International Plant Protection Convention (IPPC), and the International Office of Epizootics (OIE). The SPS Agreement states that the sanitary and phytosanitary (SPS) standards of these organizations are the benchmark international standards for WTO members, and recent WTO decisions demonstrate the importance of international standards in the settlement of WTO disputes involving SPS measures. The Codex, IPPC, and OIE also provide valuable services that benefit the …

1997-1998 Survey Of International Law In The Second Circuit

Syracuse Journal of International Law and Commerce

This survey reviews significant case law from the United States Court of Appeals for the Second Circuit, the Federal District Courts in New York, and the New York Court of Appeals decided from Aug. 1, 1997 through Aug. 1, 1998. Only those cases which overturned old law and/or broke new ground were included in this survey. Consequently, cases that simply reaffirmed previous decisions were not reported.

Table of Contents I. Foreign Sovereign Immunity Act II. Forum Non-Conveniens III. Immigration and Nationality Act IV. Quasi-In-Rem Jurisdiction and the Question of Due Process for Foreign Entities V. Warsaw Convention

Syracuse Journal Of International Law And Commerce - Vol. 26, No. 1 (Complete)

Syracuse Journal of International Law and Commerce

No abstract provided.

A Dynasty Weaned From Biotechnology: The Emerging Face Of China

Syracuse Journal of International Law and Commerce

No abstract provided.

Saddam Hussein As Hostes Humani Generis? Should The U.S. Intervene?, Edieth Y. Wu

Syracuse Journal of International Law and Commerce

This article discusses several jurisdictional principles which may assist the United States in its efforts to acquire jurisdiction in certain situations that are declared, by the United States, egregious enough to warrant intervention. The United States has long used the "effects doctrine" 1 to assert extraterritorial jurisdiction. This article concentrates on developing and employing the Hostes Humani Generis Theory 2 and its past and possible future use. The central focus is to determine whether the possibility exists that the United States may use the theory in an effort to acquire physical jurisdiction over Saddam Hussein.

A survey, though not comprehensive, …

Book Review, Henry H. Perritt Jr.

Syracuse Journal of International Law and Commerce

Book Review: Richard Haas, The Reluctant Sheriff: The United States After the Cold War, New York, Council on Foreign Relations (1997)

Synergy And Friction--The Cra, Bhcs, The Sba, And Community Development Lending, Cassandra Jones Havard

Kentucky Law Journal

No abstract provided.