Law and Economics Commons^™

The Gaming Industry Developing Concept In Taiwan-From The U.S. Experience, Jean Ling Lee

UNLV Theses, Dissertations, Professional Papers, and Capstones

With the recent success experience of gaming-related investments made in Macau and Singapore, it also can be a good inspiration of developing the gaming industry in Taiwan. As the passing of the new legislation from the Taiwanese government, Taiwan could be the next potential country to join the Asian casino gaming market. The purpose of this study is to determine the appropriate direction of developing the casino gaming industry in Taiwan, according to the successful experience from U.S. The findings indicated that the six factors of developing gaming business in Taiwan are geography environment, accessibility, human resource, tourism resource, tourist …

Federal Earmarks In The State Of Georgia, Jeffrey Lazarus

Georgia Journal of Public Policy

Earmarks have been controversial ever since becoming a prominent part of the congressional spending process. Critics charge that earmarks fund projects with little or no economic value (for instance Ted Stevens’ “Bridge to Nowhere,”) but instead allow Congress members to direct government spending to campaign contributors (the charge leading to a federal investigation of the now-defunct lobbying firm PMA Group). On the other side of the controversy, congressional earmarks do fund a number of community improvements which are very valuable, at least locally. In Georgia, the fiscal 2010 appropriations bills included earmarks which allocated $450,000 to update College Park’s emergency …

The Effect Of U.S. State Taxes On State Economic Prosperity, Casey Dainsberg

Political Science Theses and Capstones

Policy makers today are faced with trying to create solutions for economic troubles that become increasingly more complex and foreboding. Tax cuts and tax hikes are proposed and considered as possible solutions to various economic problems. However, the question still remains regarding which policies are most effective. The purpose of this research is to asses these competing claims. It seeks to find evidence that will shed light on one of these views. I have done this by accumulating tax and economic data from the fifty U.S. States between the years 2001-2009. Previous research has concluded that taxes do affect the …

Nonprofit Executive Compensation, Terri Lynn Helge, David M. Rosenberg

Faculty Scholarship

Excessive compensation paid to nonprofit executives and board members is one of the key issues concerning charitable organizations that garner the attention of the general public and Congress. Charitable organizations may pay reasonable compensation to their directors, executive officers and employees for their services without violating applicable federal tax law or state law. The determination of reasonable compensation depends on several factors – the budget of the organization being the most significant factor. Other factors include the number of employees of the organization, the particular sector of the charitable community served by the organization, the geographic location of the organization, …

The Dangerous Illusion Of International Financial Standards And The Legacy Of The Financial Stability Forum, Cally Jordan

San Diego International Law Journal

In the aftermath of the Asian Financial Crisis, and the criticism directed towards the International Monetary Fund, in particular, for not having seen it coming, the Financial Stability Forum (FSF) was created in 1999 under a mandate from the G7 ministers of finance and central bank governors. The Asian Financial Crisis arose suddenly, spread rapidly, and spared neither developed nor developing economies in the region, although some fared much better than others. In retrospect, the causes of the crisis were obvious and the consequences predictable. Contagion entered the financial lexicon. Thus, the role of the FSF was to promote financial …

Economic And Social Rights: The Role Of Courts In China, Randall Peerenboom

San Diego International Law Journal

This Article considers what the role of the courts could and should be in implementing ESR in China. Part II surveys recent global developments giving greater bite to economic and social rights, as well as some of the main controversies, debates, and approaches to promoting, protecting, and fulfilling ESR, with particular attention to the role of the courts. Part III provides a general introduction to the social, legal, political, and economic context in China, and contrasts the situation in China with South Africa?one of the global leaders in judicial implementation of ESR. The overall environment in China is, if not …

A Test Case In International Bankruptcy Protocols: The Lehman Brothers Insolvency, Jamie Altman

San Diego International Law Journal

Part II of this Article, explains the competing theories underlying bankruptcy systems: universalism and territorialism. Part III details various statutory solutions to international bankruptcy problems. Next, Part IV analyzes the provisions of the Lehman Protocol in depth. Part V then examines the precedent upon which the Lehman Protocol relies. Part VI assesses potential threats to the Protocol?s success. This leads to Part VII, which contains suggestions for future protocols. Finally, Part VIII concludes.

The China-Taiwan Ecfa, Geopolitical Dimensions And Wto Law, Pasha L. Hsieh

Research Collection Yong Pung How School Of Law

This article examines legal and geopolitical aspects of the China-Taiwan Economic Cooperation Framework Agreement (ECFA). It begins by analyzing areas in which the two governments’ measures contravene rules of the World Trade Organization (WTO). In particular, it provides the first detailed examination of the significant implications emerging from the ECFA for cross-straits trade relations and East Asian regionalism. The article also explains how the ECFA was modeled on free trade agreements (FTAs) of the Association of Southeast Asian Nations and assesses the impact of the ECFA’s early harvest program. Finally, the article discusses the ECFA’s consistency with WTO requirements for …

Will Cutting The Payroll Tax Increase Jobs In The U.S.? Empirical Evidence From The Eu Vat, Richard Thompson Ainsworth

Faculty Scholarship

Red Ink Rising, the Peterson–Pew Commission on Budget Reform’s report presents the country with a fiscal/employment dilemma – Congress must act immediately to stem the federal debt, but it must move carefully lest it harm employment in the fragile economy. In short, we must act fast and slow – we must decrease the debt and increase employment. This is a difficult task.

The Peterson-Pew dilemma (notably its jobs-creation aspect) was taken to heart by both of the reform commissions that issued reports soon thereafter (National Commission on Fiscal Responsibility and Reform, The Moment of Truth and The Debt Reduction Task …

Slides: Environmental Water In Australia, Chris Arnott

Conversation with Water Management Reps from Colorado and Australia: "Adapting to Climate Change: Lessons Learned from Australia" (February 14)

Presenter: Chris Arnott, Managing Director, Alluvium Consulting

30 slides

Slides: Adapting To Climate Change: Lessons Learnt From The Australian Water Experience, Will Fargher

Conversation with Water Management Reps from Colorado and Australia: "Adapting to Climate Change: Lessons Learned from Australia" (February 14)

Presenter: Will Fargher, National Water Commission, Australian Government

18 slides [4 have titles only and are missing images]

Promoting Democracy In Prosecution, Russell M. Gold

Washington Law Review

Voters were meant to check prosecutors’ decisions, but that check has eroded because voters lack the information necessary to cast meaningful votes in prosecutor elections. Voters’ lack of an effective political check on prosecutors causes two related problems: (1) inefficient allocation of prosecutorial resources and (2) divestment of democratic sovereignty from the people. Prosecutors currently need not consider expenditures for incarceration or public defense because voters never see these costs and thus cannot hold their prosecutors accountable for them. Accordingly, these costs become an externality in the prosecutorial decision-making process, causing prosecutors to spend resources in socially inefficient ways. To …

Promoting Democracy In Prosecution, Russell M. Gold

Washington Law Review

Voters were meant to check prosecutors’ decisions, but that check has eroded because voters lack the information necessary to cast meaningful votes in prosecutor elections. Voters’ lack of an effective political check on prosecutors causes two related problems: (1) inefficient allocation of prosecutorial resources and (2) divestment of democratic sovereignty from the people. Prosecutors currently need not consider expenditures for incarceration or public defense because voters never see these costs and thus cannot hold their prosecutors accountable for them. Accordingly, these costs become an externality in the prosecutorial decision-making process, causing prosecutors to spend resources in socially inefficient ways. To …

Slow But Sure, Africa's Path To Democracy: [Bridled] Globalization, Education, And The Middle Class, Thomas Kojo Stephens

Cornell Law School J.D. Student Research Papers

Africa! The word has been associated with poverty, greed, brutality and gangsterism. Why is Africa, particularly sub-Saharan Africa, still wallowing in poverty while the great mass of nations are moving forward, some taking strides while others making gargantuan leaps? Is there any hope that African countries will in large part become democratic? How do they get there? In this paper, I give a short historical background of how Africa has evolved over the years into modern day Africa in order to understand how Africa has come to be what, and where it is today. I make the argument that the …

An Economic Analysis Of Fact Witness Payment, Eugene Kontorovich, Ezra Friedman

Faculty Working Papers

In this paper we discuss the disparate treatment of perceptual (''fact'') witnesses and expert witnesses in the legal system. We highlight the distinction between the perceptual act of witnessing and the act of testifying, and argue that although there might be good reasons to regulate payments to fact witnesses, the customary prohibition on paying them for their services is not justified by reference to economic theory. We propose considering a court mediated system for compensating fact witnesses so as to encourage witnessing of legally important events.We construct a simple model of witness incentives, and simulate the effects of several possible …

Antitrust Review Of The At&T/T-Mobile Transaction, Maurice E. Stucke, Allen Grunes

College of Law Faculty Scholarship

In this Essay, we review AT&T Inc.’s proposed $39 billion acquisition of T-Mobile USA, Inc., under federal merger law, under the U.S. Department of Justice and Federal Trade Commission’s 2010 Horizontal Merger Guidelines, and with a focus on possible remedies. We find, under a rule of law approach, that the proposed acquisition is presumptively anticompetitive, and the merging parties in their public disclosures have failed to overcome this presumption. Next we find that under the Merger Guidelines, there is reason to believe that the transaction may result in higher prices to consumers under several different plausible theories. Finally, we turn …

The Wider Context: The Future Of Capital Markets Regulation In Developed Markets, Cally Jordan

Faculty Papers & Publications

At a time of such great turbulence, looking to the future directions of capital markets and their regulation in developed economies is a particularly risky business. We are in the midst of a great sea change. Nevertheless, there are several current, and readily observable, phenomena which are likely to shape capital markets regulation in the near future. First of all, the blurring of the distinctions between developed and developing markets themselves, as well as that between domestic and international markets, has put into question the adequacy of existing regulatory frameworks. Also, the transatlantic dialogue, London – New York, has given …

The Risks Of Reward: The Role Of Executive Compensation In Financial Crisis, Erica Beecher-Monas

Law Faculty Research Publications

This Article examines the role of unbridled executive pay in exacerbating what Keynes called the "animal spirits" of the market. It analyzes the ways in which theoretical bases of executive pay structures diverge from reality, and the stakes for the firm and society in skyrocketing pay practices unlinked to performance. Various regulatory efforts, including the executive pay provisions of the Dodd-Frank Act, are intended to better align pay with performance. This article discusses these provisions and analyzes them in light of behavioral economics. Curbing executive pay is vital to controlling risk and preventing economic collapse, but the dynamics of group …

Letter Of Credit Litigation Under Ucc Article 5: A Case Of Statutory Preemption, John F. Dolan

Law Faculty Research Publications

In this article, Professor Dolan maintains that UCC Article 5 fashions a comprehensive remedy scheme for recurring damages claims in letter of credit litigation. That scheme, he contends, is upset by the introduction of most common law causes of action in Article 5 litigation. He concludes, therefore, that courts should not entertain those common law claims, which he sees as destructive of letter of credit law and of the unique commercial nature of letters of credit. Using the economic loss doctrine and similar theories, he urges courts to dismiss actions brought in addition to or in lieu of the remedies …

Keeping Republics Republican, Rob Atkinson

Scholarly Publications

No abstract provided.

The Great American Housing Bubble : The Road To Collapse, Robert M. Hardaway

Sturm College of Law: Faculty Scholarship

In the aftermath of the American housing collapse in 2008, many ask why. The Great American Housing Bubble: The Road to Collapse asks a different and more fundamental question - how the bubble was created in the first place. To answer that question, it examines the causes, both political and economic, of the American housing bubble created between 1940 and 2007. Those causes encompass everything from federal income tax subsidies for housing to local exclusionary policies, banking, accounting, real estate appraisal, and credit agency rating practices and policies. The book also takes into account the impact of greed, government regulation, …

The Flawed Probabilistic Foundation Of Law & Economics, Alex Stein

Faculty Scholarship

No abstract provided.

The Functionalism Of Legal Origins, Ralf Michaels

Faculty Scholarship

This article, written on request for the centennial issue of Ius Commune Europaeum, connects the economic literature on legal origins (La Porta et al) and the World Bank's Doing Business reports with discussions in comparative law about the functional method. It finds that a number of parallels and similarities exist, and that much of the criticism that has been voiced against functionalism should apply, mutates mutants, also to these more recent projects. The attraction that these projects have derive not, it is argued, from their methodological sophistication, but instead from "the strange lure of economics" and from the ostentatious objectivity …

Economics, Behavioral Biology, And Law, Jeffrey E. Stake, Owen D. Jones, Erin O'Hara O'Connor

Articles by Maurer Faculty

This article compares the relevance to law of two unexpectedly similar fields: economics and behavioral biology. It first examines the assumptions, core concepts, methodological tenets, and emphases of the two fields. It then compares the interdisciplinary fields of law and economics, on one hand, with law and behavioral biology, on the other-highlighting not only important similarities but also important differences. The article subsequently explores ways that biological perspectives on human behavior may, among other things, improve economic models and the behavioral insights they generate. The article concludes that although there are important differences between the two fields, the overlaps between …

Small-Donor Public Financing In The Post-Citizens United Era, 44 J. Marshall L. Rev. 619 (2011), Monica Youn

UIC Law Review

No abstract provided.

Russia's Lack Of American-Style Agency Priciples: A Primary Cause Of Corporate Governance Problems Today, C. Keith Marshall Jr.

South Carolina Journal of International Law and Business

No abstract provided.

Review Of Seeds Of Destruction: Why The Path To Economic Ruin Runs Through Washington, And How To Reclaim American Prosperity, Michael S. Barr

Reviews

The United States has just gone through the worst financial crisis since the Great Depression. Our financial system came to brink of collapse, saved only by a massive intervention by the federal government. Although officially the Great Recession is now over, high unemployment and slow growth persist. Deficits that were ballooning in the 2000s with the weight of tax cuts, increased health care expenditures, and defense spending related to Iraq and Afghanistan, even before the financial crisis, have continued to climb, as lower tax receipts, automatic stabilizers, and fiscal stimulus kicked into gear.

Controlling Health Care Costs Through Public, Transparent Processes: The Conflict Between The Morally Right And The Socially Feasible, David Orentlicher

Scholarly Works

No abstract provided.

Consumer Protection Initiatives In The Eu Mortgage Market: A Behavioral Economics Based Critique And Proposal, 25 Temp. Int'l & Comp. L.J. 1 (2011), Debra Pogrund Stark, Jessica M. Choplin

UIC Law Open Access Faculty Scholarship

No abstract provided.

Can Joe The Plumber Support Redistribution? Law, Social Preferences, And Sustainable Policy Design, Gillian Lester

Faculty Scholarship

How does one win popular support for laws designed specifically to redistribute economic wealth? One can hardly gainsay that this is a – perhaps the – defining issue for domestic policy in the age of President Obama. Even as the recent financial crisis has exposed the need for a reliable social safety net, attempts to respond through the political and legislative arenas have triggered increasingly hostile responses among conservatives, populists, Massachusetts voters, and incipient tea partiers. The puzzle of how to attract and preserve public support for law reform aimed at redistribution – of both income and risk – is …