Law and Economics Commons^™

Patentes Como Límite A La Innovación Tecnológica, Katherine Florez Pinilla, Alejandro Perez Y Soto Domínguez

KATHERINE FLOREZ PINILLA

El presente artículo pretende analizar, desde el marco de la Escuela Austriaca, la propiedad intelectual reflejada en las patentes, entendidas como un mecanismo del legislador para incentivar una conducta empresarial que propenda por la innovación y el desarrollo tecnológico. Se tomó como caso las patentes en el sector farmacéutico, obteniendo a partir de éste evidencia empírica la corroboración de las hipótesis de la escuela, por medio de un análisis teórico a la luz de los problemas identificados alrededor de la patente, tales como: discriminación de precios, investigación parcializada en ciertas enfermedades, poder de mercado ilimitado, barreras al desarrollo tecnológico nacional, …

An Economic Approach To Collective Rights And Their Means Of Supply: The Case Of Right To "The Enjoyment Of A Healthy Environment" And The Right To "Rational Management And Use Of Natural Resources" [En Español], Daniel A. Monroy

Daniel A Monroy C

This paper has two main objectives (i) Demonstrate that the defining characteristic of collective rights related to non-excludable of the benefits derived from the "means" of supply and the material "objects" of rights, is consistent with the microeconomic defining characteristic of so-called "public goods" and "commons " (together we call these as non-excludable resources). On the other hand, (ii) Demonstrate that when we analyze the collective rights as non-excludable resources this aims important omitted challenges by traditional legal doctrine related with the adequate supply of collective rights, this happens because the problems of the -Olsonian- logic of collective action. For …

How Much Is That Lawsuit In The Window; Pricing Legal Claims, Maya Steinitz

Faculty Scholarship

This article poses the question: How should parties to litigation finance agreements – third party funding or contingency fees – deal with the inherent difficulty in pricing legal claims? It answers that a practical solution would be to use staged funding. Staged funding side-step the impossibility of accurately pricing litigation ex ante by allowing re-pricing and exit that are pegged to information disclosure. Done right, staging allows all parties to minimize the effects of uncertainty, better price their bargain, optimize the distribution of the proceeds of litigation between its different investors – far beyond practices common today. Staged funding also …

Is New Governance The Ideal Architecture For Global Financial Regulation?, Annelise Riles

Cornell Law Faculty Publications

A central challenge for international financial regulatory systems today is how to manage the impact of global systemically important financial institutions (G-SIFIs) on the global economy, given the interconnected and pluralistic nature of regulatory regimes. This paper focuses on the Financial Stability Board (FSB) and proposes a new research agenda for the FSB’s emerging regulatory forms. In particular, it examines the regulatory architecture of the New Governance (NG), a variety of approaches that are supposed to be more reflexive, collaborative, and experimental than traditional forms of governance. A preliminary conclusion is that NG tools may be effective in resolving some …

Corporate And Business Law, Laurence V. Parker Jr.

University of Richmond Law Review

No abstract provided.

Penalty Defaults In Family Law: The Case Of Child Custody, Margaret F. Brinig

Margaret F Brinig

This paper considers whether an amendment to state divorce laws that strengthens its joint custody preference operates as a traditional default rule, specifying what most divorcing couples would choose or as a penalty default rule the parties will attempt to contract around.

While the Oregon statutes that frame our discussion here, like most state laws, do not state an explicit preference for joint custody, shared custody is certainly encouraged by Section 107.179, which refers cases in which the parties cannot agree on joint custody to mediation and by Section 107.105, which requires the court to consider awarding custody jointly. In …

"Money Can't Buy Me Love": A Contrast Between Damages In Family Law And Contract, Margaret F. Brinig

Margaret F Brinig

No abstract provided.

Intellectual Property Defenses, Alex Stein, Gideon Parchomovsky

Alex Stein

This Article demonstrates that all intellectual property defenses fit into three conceptual categories: general, individualized, and class defenses. A general defense challenges the validity of the plaintiff’s intellectual property right. When raised successfully, it annuls the plaintiff’s right and relieves not only the defendant, but also the entire world of the duty to comply with it. An individualized defense is much narrower in scope: Its successful showing defeats the specific infringement claim asserted by the plaintiff, but leaves the plaintiff’s right intact. Class defenses form an in-between category: They create an immunity zone for a certain group of users to …

Efficient Breach In The Common European Sales Law (Cesl), Wenqing Liao

Wenqing Liao

In the classic economic theory, it is suggested that contract law should be structured in such a way that efficient breaches (i.e. those increasing social welfare) would be promoted. The default remedy of expectation damages was justified on this cognition. Nowadays, more and more suspects and critiques are raised against the so called simple efficient breach model. The aim of this paper is to re-sketch the theory of efficient breach and to compare the consequences resulting from economic analysis with the remedy rules of the Common European Sales Law (CESL). It is proposed that the doctrine of efficient breach has …

The Commons, Capitalism, And The Constitution, George Skouras

George Skouras

Thesis Summary: the erosion of the Commons in the United States has contributed to the deterioration of community and uprooting of people in order to meet the dynamic demands of capitalism. This article suggests countervailing measures to help remedy the situation.

It’S Critical: Legal Participatory Action Research, Emily Houh, Kristin (Brandser) Kalsem

Faculty Articles and Other Publications

The ongoing community-based research project that we describe in this article will contribute, we hope, to an understanding of the fringe economy by offering insights into what remains “unexplained” in the current existing literature, namely the gender and race disparities relating to who uses “alternative financial service” (AFS) products. This article likewise contributes to a growing body of literature within Critical Race Theory and Critical Race Feminism that deals with economic inequalities and how they are inextricably and structurally linked to race and gender subordination. By explicitly incorporating “participatory action research” (PAR) values and methods into our work as critical …

Moral Economy And The Upper Peasant: The Dynamics Of Land Privatization In The Mekong Delta, Timothy Gorman

Department of Sociology Faculty Scholarship and Creative Works

This paper examines how people mobilize around notions of distributive justice, or ‘moral economies’, to make claims to resources, using the process of post‐socialist land privatization in the Mekong Delta region of southern Vietnam as a case study. First, I argue that the region's history of settlement, production, and political struggle helped to entrench certain normative beliefs around landownership, most notably in its population of semi‐commercial upper peasants. I then detail the ways in which these upper peasants mobilized around notions of distributive justice to successfully press demands for land restitution in the late 1980s, drawing on Vietnamese newspapers and …

Innovation, Ip Rights, And Anticompetitive Exclusion, Herbert J. Hovenkamp

All Faculty Scholarship

This book of CASES AND MATERIALS ON INNOVATION AND COMPETITION POLICY is intended for educational use. The book is free for all to use subject to an open source license agreement. It considers numerous sources of competition policy in addition to antitrust, including those that emanate from the intellectual property laws themselves, and also related issues such as the relationship between market structure and innovation, the competitive consequences of regulatory rules governing technology competition such as net neutrality and interconnection, misuse, the first sale doctrine, and the Digital Millennium Copyright Act (DMCA). Chapters will be updated frequently. The author uses …

Resource Movement And The Legal System, Herbert J. Hovenkamp

All Faculty Scholarship

In "The Problem of Social Cost" Ronald Coase considered several common law disputes among neighbors whose economic activities conflicted with one another. For example, Sturges v. Bridgman was a nineteenth century nuisance case involving a pediatrician whose practice was hindered by his neighbor, a confectioner whose operation required a noisy mechanical mortar & pestle. Coase showed that if high transaction costs did not interfere, private bargaining would provide a solution which he characterized as efficient -- namely, that the right to continue would be given to the person who valued it most. For example, if the pediatrician valued the right …

How To Avoid Another Shutdown, David Gamage, David Louk

David Gamage

No abstract provided.

Transfer Pricing: Un Guidelines -- Brazil, Richard Thompson Ainsworth

Faculty Scholarship

The UN Practical Manual on Transfer Pricing for Developing Countries endeavors to provide “clearer guidance on the policy and administrative aspects of applying transfer pricing analysis.” Chapter 10 is particularly noteworthy. It sets out specific country practices. The rules in Brazil, China, India and South Africa are offered as templates for developing countries to follow.

This article considers the Brazilian contribution to Chapter 10. Although some writers believe that developing countries should adopt the Brazilian model this article suggests otherwise. Even though it is a theoretically simple system, some aspects of the Brazilian model consistently work to the fiscal disadvantage …

Should The Commercial Landlord Have A Duty To Mitigate Damages After The Tenant Abandons?: A Legal And Economic Analysis, David Crump

David Crump

When a commercial tenant abandons the premises, the landlord’s costs continue. Does the landlord, then, have the burden of mitigating damages for a suit against the tenant? Two different rules apply in different states. Some states, including Pennsylvania, put the burden of mitigation on the breaching party: the commercial tenant. Other states, however, put the burden entirely on the non-breaching party: the landlord. Texas follows this latter approach, placing the burden solely on the innocent party and not on the breaching party. The Texas rule, which puts the burden of mitigation on the non-breaching commercial landlord, has serious disadvantages. First, …

The Limitations Of An Economic Agency Cost Theory Of Trust Law, Lee-Ford Tritt

Lee-ford Tritt

Should the donor's specific interests or potentially conflicting theoretical economic principles control the creation and administration of trusts? In a highly influential article advancing an agency cost framework for trust law, Harvard Law Professor Robert Sitkoff suggests retooling trust law to focus on wealth maximization and to minimize costs stemming from an assumed misalignment of the interests between deemed "principals" and "agents" within the trust setting. An agency cost theory of trust law, however, reduces the complex, highly idiosyncratic, and emotionally charged nature of trust law into a simple business relationship. Given the special nature of trust law and practice-where …

Defying Conventional Wisdom: The Case For Private Antitrust Enforcement, Joshua P. Davis, Robert H. Lande

All Faculty Scholarship

The conventional wisdom is that private antitrust enforcement lacks any value. Indeed, skepticism of private enforcement has been so great that its critics make contradictory claims. The first major line of criticism is that private enforcement achieves too little — it does not even minimally compensate the actual victims of antitrust violations and does not significantly deter those violations. A second line of criticism contends that private enforcement achieves too much — providing excessive compensation, often to the wrong parties, and producing overdeterrence. This article undertakes the first ever systematic evaluation of these claims. Building upon original empirical work and …

Public Debt In The United States And Germany: A Constitutional Perspective, Stephen Utz

Faculty Articles and Papers

No abstract provided.

Beyond Finality: How Making Criminal Judgments Less Final Can Further The Interests Of Finality, Andrew Chongseh Kim

Andrew Chongseh Kim

Courts and scholars commonly assume that granting convicted defendants more liberal rights to challenge their judgments would harm society’s interests in “finality.” According to conventional wisdom, finality in criminal judgments is necessary to conserve resources, encourage efficient behavior by defense counsel, and deter crime. Thus, under the common analysis, the extent to which convicted defendants should be allowed to challenge their judgments depends on how much society is willing to sacrifice to validate defendants’ rights. This Article argues that expanding defendants’ rights on post-conviction review does not always harm these interests. Rather, more liberal review can often conserve state resources, …

The Death Penalty, John J. Donohue

John Donohue

A system of punishment involving the execution of individuals convicted of a capital crime.

The issue of the death penalty has been an area of enormous academic and political ferment in the United States over the last forty years, with the country flirting with abolition in the 1970s, followed by a period of renewed use of the death penalty, and then a period of retrenchment, reflected in a declining number of death sentences and executions and a recent trend leading six states to abolish the death penalty in the last six years. Internationally, there is a steady movement away from …

Comentarios En Torno Al Ámbito Subjetivo Del Nuevo Estatuto Del Consumidor En Colombia, Entre La Técnica Y La Idoneidad (Comments About The Subjective Scope Of The New Consumer Protection Act In Colombia, Between The Technique And The Suitability), Jesús A. Soto

Jesús Alfonso Soto Pineda

El artículo analiza la intencionalidad adherida al acto de consumo y el elemento subjetivo de la relación, con el objetivo de determinar el ámbito de aplicabilidad del Estatuto del consumidor en Colombia, Ley 1480 de 2011. Identificando un compendio de caracteres que reducen la aplicación de la norma de acuerdo al objetivo privado perseguido por las partes con la celebración de un acto. Evaluando igualmente la relación que ahora parece existir, –gracias al texto adherido al Estatuto– entre las normas de consumo y el ejercicio de profesiones liberales.

The article analyses the motives attached to the act of consumption and …

Reverse Payments, Perverse Incentives, Murat C. Mungan

Scholarly Publications

No abstract provided.

The Political Economy Of International Financial Regulation, Pierre-Hugues Verdier

Indiana Law Journal

No abstract provided.

On Duopoly And Compensation Games In The Credit Rating Industry, Robert J. Rhee

UF Law Faculty Publications

Credit rating agencies are important institutions of the global capital markets. If they had performed properly, the financial crisis of 2008-2009 would not have occurred, and the course of world history would have been different. There is a near universal consensus that reform is needed, but none as to the best approach. The problem has not been solved. This Article offers the simplest fix proposed thus far, and it is contrarian. This Article accepts the central role of rating agencies in the regulation of bond investments, the realities of a duopoly, and the issuer-pay model of compensation. The status quo …

Injunctive And Reverse Settlements In Competition-Blocking Litigation, Keith N. Hylton, Sungjoon Cho

Faculty Scholarship

We distinguish standard settlements, in which the status quo is preserved, and injunctive settlements, which prohibit the defendant's activity. The reverse (payment) settlement is a special type of injunctive settlement. We examine the divergence between private and social incentives to settle and policies that would minimize socially undesirable injunctive and reverse settlements (e.g., banning reverse settlements). The results are applied to competition-blocking litigation, such as patent infringement and antidumping.

Los Daños Punitivos En El Proyecto De Reformas (Punitive Damages In The Ammendment Bill), Leonardo A. Urruti

Leonardo Abel Urruti

Réplica, Jose Luis Sardon

Jose Luis Sardon

Respuesta a Alfredo Bullard.

Rwanda -- Cutting-Edge Vat Compliance, Richard Thompson Ainsworth, Goran Todorov

Faculty Scholarship

On August 26, 2013 the Ministerial Order on Modalities of Use of Certified Electronic Billing Machine, No. 002/23/10TC of 31/07/2013, was published in the Official Gazette of Rwanda. This Order has set loose a technology revolution in VAT compliance that promises business efficiencies, and revenue enhancements that are only imagined in more developed countries. To open the door to technology Rwanda has taken the traditional digital invoice security model, and connected it to a central security portal at the Rwanda Revenue Authority (RRA). Rwanda will now be able to securely monitor transactions in close to real-time (oversight is on-demand).