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Full-Text Articles in Legal Remedies
Now, Later, Or Never: Applying Asymmetric Discount Rates In Nuisance Remedies And Federal Regulations, Yang Wang
Michigan Law Review
Part I of this Note reviews recent literature on the need for asymmetric discount rates in cost-benefit analysis. It observes that even though scholars disagree on the precise value of the appropriate discount rate, many agree that future costs and benefits must be discounted at different rates. Part II then constructs a simple model, consisting of two activities competing for the same resource, and analyzes the consequences of asymmetric discounting under this model. This Part proposes that, to maximize the joint social utility, the resource should be time divided between the competing activities rather than permanently allocated to one or …
Reflections On Fuller And Perdue's The Reliance Interest In Contract Damages: A Positive Economic Framework, Avery Katz
Reflections On Fuller And Perdue's The Reliance Interest In Contract Damages: A Positive Economic Framework, Avery Katz
University of Michigan Journal of Law Reform
Fuller and Perdue's classic article, The Reliance Interest in Contract Damages, is regarded by many contemporary contracts scholars as the single most influential law review article in the field. For those of us who teach and think about contracts from the perspective of law and economics, the consensus would probably be close to unanimous. The article displays an approach highly congenial to an economic perspective. The connection goes beyond Fuller and Perdue's explicitly functional approach to law (which law and economics shares with other schools of thought descended from the legal realists) and beyond Fuller and Perdue's focus on …
Mutuality Of Estoppel: A Question, Stephen Millman, David Gruber
Mutuality Of Estoppel: A Question, Stephen Millman, David Gruber
Michigan Law Review
A recent Note, "A Probabilistic Analysis of the Doctrine of Mutuality of Collateral Estoppel, " made excellent use of elementary probability theory to demonstrate the extent to which relaxation of the mutuality requirement will increase the damages suffered by a defendant subject to multiple suits in which there is common issue (or correspondingly, will decrease the total recovery of a plaintiff who has several suits litigating a common issue against different defendants). Although the author made a number of useful points concerning the case law and the arguments advanced by proponents on each side of the controversy, the central thesis …