Law and Economics Commons^™

Tenant Stories: Obstacles And Challenges Facing Tenants Today, 40 J. Marshall L. Rev. 407 (2007), Mary Spector

UIC Law Review

No abstract provided.

Business Implications Of Divergences In Multi-Jurisdictional Merger Review By International Competition Enforcement Agencies, W. Adam Hunt

Northwestern Journal of International Law & Business

Antitrust and competition laws lie at the nexus of international law and business. Since 1890, antitrust law has expanded from its origins of regulating trusts in the United States to what is now a global body of law. However, this expansion has not come without drawbacks. As the number of worldwide competition review and enforcement agencies in both developing and developed nations continues to increase, multinational businesses contemplating mergers are faced with growing uncertainty and transaction costs. These escalating costs have led business community leaders to conclude "that greater harmonization of merger law enforcement, at both the substantive and the …

Banking The Poor: Overcoming The Financial Services Mismatch, Michael S. Barr

Book Chapters

Low-income households often lack access to bank accounts and face high costs for transacting basic financial services through check cashers and other alternative financial service providers. Twenty-two percent of low- and moderateincome American households do not have a checking or savings account. Many other "underbanked" families have bank accounts but still rely on high-cost financial services. These households find it more difficult to save and plan financially for the future. Living paycheck to paycheck leaves them vulnerable to medical or job emergencies that may endanger their financial stability, and lack of longer-term savings undermines their ability to improve skills, purchase …

Review Of Foreign Direct Investment And The Regional Economy, James R. Hines Jr.

Reviews

There is a broad consensus that foreign direct investment (FDI) confers economic advantages on local economies. Jones and Wren simply refuse to share the good feeling about FDI without first processing some numbers. In doing so, they take a detached and serious look at the consequences of foreign direct investment in one area, the northeastern region of England. They have access to excellent data on the regional operations of foreign-owned plants from 1985 to 1999, and use these data to answer important questions about FDI in the region. How large are the benefits that FDI brings, as measured by new …

Knowledge, Competition And The Innovation: Is Stronger Ipr Protection Really Needed For More And Better Innovations, Giovanni Dosi, Luigi Marengo, Corrado Pasquali

Michigan Telecommunications & Technology Law Review

The main questions addressed in this Article are thus: given that growth is a highly desirable phenomenon and that it is primarily spurred by technological innovation, how should society solve the problem of favoring a sufficient level of investments in R&D? In particular, is it necessarily true and always desirable that, independent of any other consideration, society should protect innovators from competition and shelter them in a legally protected and enforced monopoly? Is it true that the real source of economic value of new recipes is only found in the blueprints of ideas that those recipes implement? Is it necessarily …

Time To Step Up: Modeling The African American Ethnivestor For Self-Help Entrepreneurship In Urban America, Roger M. Groves

Michigan Journal of Race and Law

When the United States Congress passed legislation in late 2000 to revitalize the urban core with incentives for equity investors, African Americans were inconspicuously absent as stakeholders in the enterprise. Subsidies in the form of tax credits were instead gobbled up by investor groups who developed upscale hotel-convention centers, high priced condominiums, and symphony orchestra venues that the pre-existing poor residents could not afford. The focus of this Article is not to blame those investors who took advantage of the opportunity, though they perverted the purpose of the subsidy. Rather, this Article seeks to identify a new substrata of the …

Biomedical Ethics And The Law: A Critical Perspective, Keith N. Hylton

Faculty Scholarship

Health law, a fast growing field of scholarship, appears to consist largely of two schools. One focuses on health care antitrust, taking as its fundamental premise the notion that health care markets should be distinguished from and treated differently than other markets. This premise underlying health care antitrust is based on a few recurring features of health care markets, such as informational asymmetry, that are taken as sufficient bases for treating them differently.¹ The other school of health law is biomedical ethics, which has taken on increasing importance in view of the many tradeoffs that arise when health care …

Does Nonprofit Ownership Matter?, Jill R. Horwitz

Articles

In recent years, policymakers have increasingly questioned whether nonprofit institutions, particularly hospitals, merit tax exemption. They argue that nonprofit hospitals differ little from their for-profit counterparts in the provision of charity care and, therefore, should either lose their tax-exempt status or adhere to new, strict, and specific requirements to provide free services for the poor. In this Article, I present evidence that hospital ownership-whether it is for-profit, nonprofit, or government owned-has a significant effect on the mix of medical services it offers. Despite notoriously weak enforcement mechanisms, nonprofit hospitals act in the public interest by providing services that are unlikely …

Classified Boards And Firm Value, Michael D. Frakes

Faculty Scholarship

Classified boards constitute one of the most potent takeover defenses for U.S. firms today. However, as with takeover defenses more generally, economic theory offers an ambiguous prediction as to the effect that classified boards have on bottom-line firm value. A resolution of this ambiguity will require sound and convincing empirical methodology. In an effort to address limitations in the existing empirical literature, this article approaches the relationship between corporate governance and firm value while taking various measures to account for unobserved sources of heterogeneity across firms. Using the instrumental variables model developed by Hausman and Taylor, I find evidence of …

Copyright Under Siege: An Economic Analysis Of The Essential Facilities Doctrine And The Compulsory Licensing Of Copyrighted Works, Daryl Lim

Faculty Scholarly Works

No abstract provided.

Why Do Landlords Still Discriminate (And What Can Be Done About It)?, 40 J. Marshall L. Rev. 455 (2007), Robert G. Schwemm

UIC Law Review

No abstract provided.

Boxing Out The Big Box Retailers: The Legal And Social Impact Of Big Box Living Wage Legislation, 40 J. Marshall L. Rev. 1339 (2007), Christine Niemczyk

UIC Law Review

No abstract provided.

Conflicts Of Interest, Ellen Y. Suni

Faculty Works

No abstract provided.

Messages From The Front: Hard Earned Lessons On Information Security From The Ip Wars, 16 Mich. St. J. Int'l L. 71 (2007), Doris E. Long

UIC Law Open Access Faculty Scholarship

Cyberspace is often a battlefield with a wide array of armies posed to challenge one another across the increasing array of rhetoric and technology that has made it such a potent arena for global digital commerce. Perry Barlow's infamous demand that cyberspace be left to its own devices because of its unique unregulated nature may have been answered by Larry Lessig's reply that code may in fact be used to regulate cyberspace, but the reality is that social norming demands, the evanescence of technological controls, and the perceived utility of illicit conduct utilizing the internet make any regulation problematic at …

Vertical Flip, 13 Tex. Wesleyan L. Rev. 729 (2007), Allen R. Kamp

UIC Law Open Access Faculty Scholarship

No abstract provided.

Copyright Under Siege: An Economic Analysis Of The Essential Facilities Doctrine And The Compulsory Licensing Of Copyrighted Works, 17 Alb. L.J. Sci. & Tech. 481 (2007), Daryl Lim

UIC Law Open Access Faculty Scholarship

No abstract provided.

When Fragile Become Friable: Endemic Control Fraud As A Cause Of Economic Stagnation And Collapse, William K. Black

Book Chapters

Individual “control frauds” cause greater losses than all other property crime combined. They are financial super-predators. Control frauds are crimes by the head of state or CEO that use the nation or company as a “weapon.” Waves of “control fraud” can cause economic collapses, discredit institutions vital to governance, and erode trust. Fraud’s defining element is deceit – the criminal creates and then betrays trust. Fraud erodes trust. Endemic control fraud causes institutions and trust to crumble and produces economic stagnation.

Economic theory about fraud is underdeveloped, economists are not taught about fraud mechanisms, and economists minimize the incidence and …

Market Definition: An Analytical Overview, Jonathan Baker

Scholarly Articles in Law Reviews & Journals

This essay surveys important issues in antitrust market definition. It identifies settings in which market definition is useful, and evaluates methods of defining markets. It considers whether markets should be defined with respect to demand substitution only or whether supply substitution also should count. It addresses practical issues in defining markets, including the probative value of various types of evidence, how much buyer substitution is too much, application of the market definition algorithm of the Horizontal Merger Guidelines, the Cellophane fallacy, and the advantages and disadvantages of defining submarkets. It also evaluates several controversial approaches to market definition, including price …

Making America Work: Alfred P. Murrah Professorship Inaugural Lecture, Jonathan B. Forman

Oklahoma Law Review

No abstract provided.

Globalization Of Law Firms: A Survey Of The Literature And A Research Agenda For Further Study, D. Daniel Sokol

UF Law Faculty Publications

The international expansion of law firms plays a critical role in understanding the business of law and the nature of globalization. This article responds to two articles on law firm expansion in the Indiana University - Bloomington Law School symposium on the Globalization of the Legal Profession. The article utilizes management studies' theoretical work on internationalization and applies it to law firm expansion to explain law firm strategic decision-making. The author creates a six part taxonomy for types of law firm expansion and provides a snapshot of the increasing U.S./U.K. dominance of capital markets, corporate and mergers and acquisitions legal …

Tax And Economic Policy Responses To The Medicaid Long-Term Care Financing Crisis: A Behavioral Economics Approach, Diane Lourdes Dick

Cardozo Public Law, Policy & Ethics Journal

The article examines the escalating strain on Medicaid due to rising long-term care costs and an aging population, emphasizing the ineffectiveness of current policies promoting private insurance. It critiques traditional economic models for neglecting behavioral factors like emotional resistance to planning for aging and underestimating future care needs. The analysis concludes that voluntary measures, such as tax incentives and partnership programs, are insufficient and advocates for a universal compulsory program to ensure adequate preparation for long-term care, thereby reducing Medicaid reliance.

Why Electricity Matters, Developing Nations Matter, And Asia Matters Most Of All, Steven Ferrey

Suffolk University Law School Faculty Works

There are several common conceptions about global warming that deserve greater scrutiny than they have received. First, is it true that we must resolve the legal and policy responses regarding global warming? Second, does the U.S. matter most of all to affect global warming? Third, are developing nations really bit players in the global warming equation? Finally, is there no blueprint for turning back global warming with renewable power in developing nations? Despite common wisdom, the answer to each is negative. Electricity matters, and it matters most of all in international venues.

In Part II of this article, I explain …

Winning The Battle, But Perhaps Losing The War: Endorsing Deregulation Of Emergency Contraception At The Expense Of Derogating Abortion, Melissa Bond

Cardozo Journal of International and Comparative Law

No abstract provided.

A Proposed Solution To The Scholarly Communication Crisis, Chad J. Schatzle

Scholarly Works

After reviewing the history and parameters of the scholarly communications crisis, particularly in regard to skyrocketing prices for journals in the natural sciences, the author reviews and rejects previously attempted solutions. He then employs the principles of game theory in proposing a new solution to the crisis.

Gendered Risks Of Retirement: The Legal Governance Of Defined Contribution Pensions In Canada, Mary G. Condon

Articles & Book Chapters

This paper examines how the governance of new employer-sponsored pension arrangements in Canada mediates the relationship between gender and discourses of economic risk. It considers the role played by these pension regimes in maintaining gendered forms of financial self-governance and economic insecurity. It asks whether evolving precepts of pension regulation assist or hinder women who wish to resist the disciplinary reach of policy restructurings in the employer-based pension sector.

Law And Economics After Behavioral Economics, Stephen E. Ellis, Grant M. Hayden

Faculty Journal Articles and Book Chapters

No abstract provided.

Law, Social Justice, Economic Development, And Modern Banking Sector Legal Reform: Taking In The 'Excluded', Joseph J. Norton

Faculty Journal Articles and Book Chapters

This chapter examines a critical banking reform issue in developing countries – the equitable inclusion of individuals effectively excluded from mainstream banking/financial sectors of their respective countries. The author sets forth the proposition that the equitable and accessible provision of banking services has never been considered a core component to modern banking sector legal reform and assessment in the developing world. After more than two decades of study and practical involvement with financial sector reform in developing, transitioning and emerging economies, the author has the general view that the future banking/financial sector legal policy and infrastructure reform process for International …

Sec Enforcement And Examinations Concerning Hedge Funds, Barry W. Rashkover, Laurin Blumenthal Kleiman

NYLS Law Review

No abstract provided.

Laws Against Bubbles: An Experimental-Asset-Market Approach To Analyzing Financial Regulation, Erik F. Gerding

Publications

This article analyzes the effectiveness of proposed and actual securities, financial, and tax laws designed to prevent, or dampen the severity of asset price bubbles, including laws designed to mitigate excessive speculation. The article employs experimental asset market research to measure the effectiveness of these anti-bubble laws in correcting mispricings. Experimental asset markets represent complex simulations of stock markets in which subjects trade securities over a computer network. These markets allow scholars to test causal links between legal policies and market effects in ways that empirical research alone cannot. With these virtual markets, researchers can identify asset price bubbles - …

Should Property Or Liability Rules Govern Information?, Mark A. Lemley, Philip J. Weiser

Publications

This Article focuses on an unappreciated and significant aspect of the debate over property rules in the technology law context. In particular, it argues that the classic justification for legal entitlements protected by a property rule - i.e., a right to injunctive relief - depends on the ability to define and enforce property rights effectively. In the case of many technology markets, the inability to tailor injunctive relief so that it protects only the underlying right rather than also enjoining noninfringing conduct provides a powerful basis for using a liability rule (i.e., awarding the relevant damages to the plaintiff) instead …