Law and Economics Commons^™

Afterword: Antitrust And American Business Abroad Revisited, David J. Gerber

All Faculty Scholarship

No abstract provided.

The Posse Is Coming To Town…Maybe: The Role Of United States Non-Governmental Organizations In Software Anti-Piracy Initiatives As China Seeks Wto Accession, Serri E. Miller

ILSA Journal of International & Comparative Law

In 1999, worldwide financial losses to business software piracy were estimated at $12 billion.

Talisman Energy, Sudan, And Corporate Social Responsibility, Chios Carmody

Law Publications

No abstract provided.

Property Rights In John Marshall's Virginia: The Case Of Crenshaw And Crenshaw V. Slate River Company, 33 J. Marshall L. Rev. 1175 (2000), J. Gordon Hylton

UIC Law Review

No abstract provided.

"Bad For Business": Contextual Analysis, Race Discrimination, And Fast Food, 34 J. Marshall L. Rev. 207 (2000), Regina Austin

UIC Law Review

No abstract provided.

Foreward: Mergers, Market Access And The Millennium, Eleanor M. Fox

Northwestern Journal of International Law & Business

The symposium issue is a nice microcosm of the competition law issues facing the world. It presents the tensions between national control and world integration. It presents the twin, conflicting impulses to eschew internationalization, hoping to do well enough by deepened positive comity (Waller), and to embrace internationalization at least cautiously to address concerns where unharnessed operation of national interests obstructs efficient solutions and where internationalization is most likely to sidestep the political landmines (Fiebig).

Investing In China's Telecommunications Market: Reflections On The Rule Of Law And Foreign Investment In China, Leontine D. Chuang

Northwestern Journal of International Law & Business

The lack of clarity in China's investment laws has translated into an investment environment that is often uncertain, risky, and mired in red tape. In fact, there have been cases where foreign corporations have invested in joint ventures following what they thought to be all the requisite guidelines, only to find out after the money had exchanged hands that something was terribly wrong with the entire agreement. A perfect example of this is the birth, development, and eventual demise of the ill-fated China-China-Foreign (hereinafter "CCF") investment vehicles used for investment in China's telecommunications industry in the past few years. This …

Argentina And The Telecommunications Industry: The Difficult But Necessary Path Toward Liberalization, Vanessa P. Rubinstein

Northwestern Journal of International Law & Business

This article provides a synopsis of Argentina's telecommunications industry and examines the compelling reasons why Argentina must effectively liberalize the industry while eliminating its hidden protectionist policies. Part II presents a historical overview of the Argentina's telecommunications industry and analyzes Argentina's domestic laws requiring liberalization. Part III explores the main economic policy reasons for why liberalization of the Argentine telecommunications industry is essential. Part IV offers recommendations to better achieve effective development, liberalization and competition in the telecommunications industry. This article concludes that Argentina must completely liberalize its telecommunications industry for basic services, thereby abiding by its domestic legal commitments …

"Externalities And Other Parasites." Review Of The Strategic Constitution, By R. D. Cooter, And Constitutional Democracy, By D. C. Mueller, Donald J. Herzog

Reviews

I shall argue that despite the occasional and charmingly belligerent pose struck by some economists of offering a superior alternative to conventional moral and political theory, economics is covertly parasitic on that theory. I begin in Part I by describing some of the core features of economic analysis and by disclosing my own sentiments about that analysis. The description will be terse, the disclosure partial. My aim is to identify, but certainly not pretend to resolve, some thorny methodological issues that surface in these two books. As for the disclosure, well, even if full disclosure were possible, which I doubt, …

If Taxpayers Can't Be Fooled, Maybe Congress Can: A Public Choice Perspective On The Tax Transition Debate, Kyle D. Logue

Reviews

In When Rules Change: An Economic and Political Analysis of Transition Relief and Retroactivity , Shaviro takes the various strands of the existing literature on retroactivity and weaves them together, applying his unique combination of legal expertise, political pragmatism, and theoretical sophistication in public finance economics as well as political science. The result is a subtle, balanced, and scholarly treatise on transition relief and retroactivity that should serve as the starting point for all future research in the field. In its stated objectives, the book is admirably ambitious.

This Review will, in a broad sense, follow Shaviro's characterization of the …

Analyze This: A Law And Economics Agenda For The Patent System, Rebecca S. Eisenberg

Articles

Legal scholars and economists might enhance the value and impact of their work by making more effective use of each other's knowledge and capabilities. Legal scholars can offer a more nuanced understanding of the legal rules that underlie the patent system and the doctrinal levers that might be manipulated in furtherance of public policy goals. Economists bring to bear a set of analytical and methodological tools that could shed considerable light on what these doctrinal levers are doing and which of them we ought to be manipulating. Together, we have a better chance of asking the right questions and thinking …

Three Faces Of Private Property, Michael A. Heller

Articles

Private property is a rather elusive concept. Any kid knows what it means for something to be mine or yours, but grownup legal theorists get flustered when they try to pin down the term. Typically they, actually we, turn to a familiar analytic toolkit: including, for example, Blackstone's image of private property as "sole and despotic dominion"; Hardin's metaphor of the "tragedy of the commons"; and, more generally, the division of ownership into a trilogy of private, commons, and state forms. While each analytic tool has a distinguished pedigree and certain present usefulness, each also imposes a cost because it …

The Three Types Of Collusion: Fixing Prices, Rivals, And Rules, Robert H. Lande, Howard P. Marvel

All Faculty Scholarship

Collusion can profitably be classified into three distinct types. In our classification, "Type I" collusion is the familiar direct agreement among colluding firms (a cartel) to raise prices or, equivalently, restrict output. Alternatively, firms can collude to disadvantage rivals in ways that causes those rivals to cut output. We term this "Type II" collusion. Its indirect effect is an increase in market prices.

A number of important collusion cases neither direct manipulation of prices or output, nor direct attacks on rivals. Examples include Supreme Court cases such as National Society of Professional Engineers v. US, Bates v. State Bar of …

Introduction, To Cost-Benefit Analysis, Matthew D. Adler, Eric A. Posner

Faculty Scholarship

No abstract provided.

The Marshall Court And Property Rights: A Reappraisal, 33 J. Marshall L. Rev. 1023 (2000), James W. Ely Jr.

UIC Law Review

No abstract provided.

Causation And Forseeability, Omri Ben-Shahar

Book Chapters

This chapter begins with a survey of the implicit role of causation in the writings of the early, pathbreaking economic analysts of tort law. It then clarifies the basic distinction between retrospective (ex post) causation and prospective (ex ante) causation, a distinction that forms the core of many subsequent economic discussions of causation. Next, the explicit role of causation doctrines in inducing optimal care and activity levels is examined under the strict liability and the negligence regimes. The analysis is then extended to cover several complications often plaguing the determination of causation: uncertainty over causation, joint actions among tortfeasors and …

Reconciling The Old Theory And The New Evidence: Comments On Ronald Mann's 'The Role Of Letters Of Credit In Payment Transactions', Jacob I. Corré

Michigan Law Review

Ronald Mann's thorough research and rigorous analysis provide compelling evidence that the commercial letter of credit does not further the fundamental purpose traditionally associated with it. Equally persuasive are his hypotheses about the functions that letters of credit actually serve in the real world. The objective statistics are startling. An overwhelming majority of letter of credit seller-beneficiaries make at least initial presentations to issuing or correspondent banks that by the express terms of the letter of credit do not entitle the seller to payment. Without a waiver from its customer, the issuing bank is legally entitled to, and surely will …

Empirical Insight And Some Thoughts On Future(S) Investigation: Comments On Mark West's 'Private Ordering At The World's First Futures Exchange', A.W. Brian Simpson

Michigan Law Review

Some considerable number of years ago, when I was in Chicago, I had a plan to undertake a general study of the origins of futures markets. They fascinated me for a variety of reasons, one being their bizarre nature: traders meeting together, usually in some form of ring, in order to sell, on a huge scale, quantities of commodities which they neither possess, nor intend to possess, to other traders, who have not the least wish to receive such commodities, and nowhere to put them if they did. At first sight it appears a weird perversion of the institution of …

Exploring The Battle Of The Forms In Action, Daniel Keating

Michigan Law Review

Like many commercial law professors, I have long been fascinated with the workings of the Uniform Commercial Code's section 2-207, the "battle of the forms" provision. There are two features of that section, one internal and one external, that make it such an intriguing statute to ponder. The internal source of fascination with section 2-207 is that it provides a classic model for teaching students about the intricacies of statutory construction. There is probably no other provision within U.C.C. Article 2 that provides more confusion to law students and more challenge to the instructor than does section 2-207. There is …

Bankruptcy Reorganization: Legal Dynamics Associated With Economic Discontinuity, Young Rock Noh

LLM Theses and Essays

This thesis attempts to discover the factors leading to such failures and to propose a cure. It argues that the basic structure of Chapter 11 of the Code, the debtor in possession structure, is one of the essential factors causing such a high rate of failure. The thesis further asserts that it is possible to reduce the rate of unsuccessful reorganization if the bankruptcy court exercises its power of case management more actively and expeditiously. For example, the court can screen the debtors' filing for relief before the reorganization case proceeds too far. Chapter II of this thesis examines the …

A Judicious Solution: The Criminal Law Committee Draft Redefinition Of The Loss Concept In Economic Crime Sentencing, Frank O. Bowman Iii

Faculty Publications

In December 1999, the United States Sentencing Commission (Commission), an institution that had been in suspended animation for over a year with all seven voting seats vacant, fluttered its eyelids and came back to life. An agreement between the Senate and the White House produced seven new Commissioners: five sitting federal judges, the former General Counsel of the Commission, and a law professor. The new group began work immediately, making itself accessible in meetings with lawyers and judges around the country, exuding an air of intelligence and collegiality, and dispensing in short order with a backlog of amendments to the …

The Problem With Scorecards: How (And How Not) To Measure The Cost-Effectiveness Of Economic Sanctions, Richard Parker

Faculty Articles and Papers

No abstract provided.

On The Cost- Effectiveness Of Economic Sanctions, Richard Parker

Faculty Articles and Papers

For over one hundred years, the attraction of economic sanctions as a middle path between talk and violence has prompted the use of sanctions for a wide variety of purposes ranging from weakening adversaries, toppling governments, and promoting human rights to opening foreign markets, promoting intellectual property, and protecting the global environment.

In recent years, however, economic sanctions have been subjected to stricter scrutiny than ever before, due to a sustained media and lobbying blitz by the U.S. business community under the banner of "USA*Engage." The campaign, begun in 1997, has produced a deluge of newspaper editorials and stories, virtually …

Hidden Economy Of The Unconscious, The, Anne Dailey

Faculty Articles and Papers

No abstract provided.

The Role Of Dispute Settlement In World Trade Law: Some Lessons From The Kodak-Fuji Dispute, John Linarelli

Scholarly Works

No abstract provided.

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 …

Patching A Hole In The Jobs Act: How And Why To Rewrite The Rules That Require Firms To Make Periodic Disclosures, Michael D. Guttentag

Indiana Law Journal

Provisions in the Jumpstart Our Business Startups Act of 2012 have made it much easier for firms to avoid federal periodic disclosure obligations, but these provisions were enacted based upon a virtually nonexistent legislative record and upended rules established only after careful consideration almost fifty years earlier. Determining when firms should be required to comply with federal periodic disclosure requirements is best done in the context of a broader understanding of the history and economics of periodic disclosure regulation. This Article provides such an understanding.

The history of periodic disclosure regulation in the United States is traced back to its …

Analyzing Bank Drafted Letter Of Credit Rules, The International Standby Practice (Isp98), John F. Dolan

Law Faculty Research Publications

No abstract provided.

Copyright And The Perfect Curve, Julie E. Cohen

Georgetown Law Faculty Publications and Other Works

This essay argues that the assumption that “progress” is qualitatively independent of the underlying entitlement structure is wrong. In particular, I shall argue that a shift to a copyright rule structure based on highly granular, contractually enforced “price discrimination” would work a fundamental shift, as well, in the nature of the progress produced. The critique of the contractual price discrimination model, moreover, exposes deep defects in the use of neoclassical “law and economics” methodology to solve problems relating to the incentive structure of copyright law. What is needed, instead, is an economic model of copyright that acknowledges the central role …

United States V General Dynamics: A Reappraisal, Anthony Wylie

University Avenue Undergraduate Journal of Economics

The purpose of this paper is to examine the reasons behind Material Services’ acquisitions, the reasons why the Government contested the mergers, and how the Government erred in analyzing the case. We wish to show that the combination of the three coal firms—Material Services, Freeman Coal, and United Electric—occurred for reasons of economic efficiency and practicality, not based on any atavistic desire to monopolize and damage social welfare.