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Articles 121 - 135 of 135
Full-Text Articles in Public Law and Legal Theory
Some Implications Of Cognitive Psychology For Risk Regulation, Roger G. Noll, James E. Krier
Some Implications Of Cognitive Psychology For Risk Regulation, Roger G. Noll, James E. Krier
Articles
Beginning with a set of books and articles published in the 1950s, cognitive psychologists have developed a new descriptive theory of how people make decisions under conditions of risk and uncertainty. A dominant theme in the theory is that most people do not evaluate risky circumstances in the manner assumed by conventional decision theory-they do not, that is, seek to maximize the expected value of some function when selecting among actions with uncertain outcomes. The purpose of this article is to consider some implications of the cognitive theory for regulatory policies designed to control risks to life, health, and the …
Generalization In Interpretive Theory, Joseph Vining
Generalization In Interpretive Theory, Joseph Vining
Articles
There are arguments at large about the nature of legal interpretation, proceeding from an implicit proposition that interpretation is the same phenomenon or experience whatever its setting. An assumption that there is one phenomenon can be found in discussions among lawyers of interpretation and in discussions among nonlawyers of legal interpretation-and as often in the work of those who would deny there is any significance to theorizing about interpretation, as of those who think persuasion to a particular theory will have the utmost consequence for law and society. Proceeding from such a proposition, rather than toward it, raises the risk …
Stalking The Squeeze: Understanding Commodities Market Manipulation, Richard D. Friedman
Stalking The Squeeze: Understanding Commodities Market Manipulation, Richard D. Friedman
Articles
This article addresses the perplexing and important problem of how to distinguish valid, large-scale trading activity from a squeeze. Part I analyzes and reformulates what I will call the price-impact test, according to which manipulation is conduct motivated by its impact on price. This test, I contend, states a necessary but not sufficient condition for characterizing conduct as a squeeze. Part II offers a substantially different test, which I call the modified-sanctions approach. Under this approach, the price-impact test is used as a preliminary safe-harbor standard. The modified-sanctions approach goes further, however, recognizing that the essence of a squeeze is …
Risk And Design, James E. Krier
Risk And Design, James E. Krier
Articles
Risk springs from uncertainty,' uncertainty invites error, and, since error can be costly, we would prefer to avoid it (provided, of course, that avoidance is not more costly yet). While there is much in the Noll and Krier article2 about judgmental error under conditions of risk and uncertainty, there is little about ways to avoid it. So avoidance-more accurately, minimization-of error costs is the topic I want to address very briefly and partially here.
Risk, Courts, And Agencies, Clayton P. Gillette, James E. Krier
Risk, Courts, And Agencies, Clayton P. Gillette, James E. Krier
Articles
Public risks are precisely the risks that have recently captured the attention of the legal community and the world at large, in no small part because they give rise to such novel problems for lawyers and such grave apprehensions among lay people. Public risks have moved the legal system to relax doctrines--regarding, for example, standards of causation and culpability, burdens of proof, sharing of liability--that were designed to deal with the private risks that once dominated the landscape. And public risks have moved lay people to intensify their demands for risk control measures. These developments suggest that public risks are …
A Skeptical Look At Contemporary Republicanism, Terrance Sandalow
A Skeptical Look At Contemporary Republicanism, Terrance Sandalow
Articles
A growing number of scholars have been led by that impulse to an interest in 'the republican tradition," arguing that it offers resources for correcting the deformities they perceive in contemporary life and for which they hold liberalism responsible. Republicanism is a mansion with many rooms, and its modem interpreters emphasize varying possibilities within it, but common to all is the vision of a politics that recognizes and seeks to strengthen the social bonds within a political community. Within the limits set by that vision differences abound, just as differences exist among liberals concerning appropriate political foundations for individual freedom. …
Promise Fulfilled And Principle Betrayed, James J. White
Promise Fulfilled And Principle Betrayed, James J. White
Articles
My responsibility in this paper is to address three questions. (1) How has the legal realist body of thought affected contract law and its application? (2) How will contract law and its application be affected in the future by realist thinking? (3) If the realist viewpoint were fully accepted, what kind of system would result and how would contract law be affected? Because my focus is upon a principal legislative monument to realism, Article Two of the Uniform Commercial Code (the "U.C.C."), and upon its drafter, Karl Llewellyn, I will not answer any of the three questions explicitly. By focusing …
The Un-Easy Case For Technological Optimism, James E. Krier, Clayton P. Gillette
The Un-Easy Case For Technological Optimism, James E. Krier, Clayton P. Gillette
Articles
"Technological optimism" is a term of art, an article of faith, and a theory of politics. It is a view that pervades modem attitudes, yet gets little explicit attention. For a brief period the situation was otherwise. In the early 1970s, the optimistic outlook figured prominently in an important debate about nothing less than the future of the world. Technological optimism won. The outcome was unsurprising, given the nature of the argument. On one side of the debate was a group of self-proclaimed Malthusians who foresaw an impending period of stark scarcity unless relatively drastic remedial steps were quickly taken; …
Legal Theory And The Obligation To Obey, Philip E. Soper
Legal Theory And The Obligation To Obey, Philip E. Soper
Articles
Contributions to this symposium will undoubtedly share, with other recent discussions of the issue, the assumption that one does not need to decide what law is before deciding whether there is an obligation to obey it. More precisely, the assumption seems to be that our ordinary, pre-analytic understanding of "law" provides a completely adequate base for discussions about law's moral authority. The more refined disputes about the nature of law that dominate analytical jurisprudence can thus be ignored.
Suicide And The Failure Of Modern Moral Theory, Donald H. Regan
Suicide And The Failure Of Modern Moral Theory, Donald H. Regan
Articles
The question I want to address is when and why suicide is morally wrong. There is something peculiar in my writing on this question at all. It will soon become apparent that although I think suicide involves genuine moral issues. I also think that the moral problem of suicide is a problem which most people answer correctly. That is, I think that in the vast majority of cases where people ought not to commit suicide, they do not. They are not even tempted. Conversely, most people who do commit suicide, or who want to, are either justified or at least …
Justice And The Bureaucratization Of Appellate Courts, Joseph Vining
Justice And The Bureaucratization Of Appellate Courts, Joseph Vining
Articles
The author notes the growing bureaucratization of appellate justice in the United States and, in particular, the drafting of opinions by law clerks rather than by judges. Taking the Supreme Court of the United States as an example, and comparing its internal procedure with that of large administrative agencies, he questions whether the method of analysis familiarly used by lawyers to arrive at an authoritative statement of law is applicable to legal texts bureaucratically produced. He suggests that legal method and its presuppositions are ultimately associated with the authority of law, and concludes that there may be critical losses not …
Constitutional Interpretation, Terrance Sandalow
Constitutional Interpretation, Terrance Sandalow
Articles
"[We] must never forget," Chief Justice Marshall admonished us in a statement pregnant with more than one meaning, "that it is a constitution we are expounding."' Marshall meant that the Constitution should be read as a document "intended to endure for ages.to come, and, consequently, to be adapted to the various crises of human affairs."'2 But he meant also that the construction placed upon the document must have regard for its "great outlines" and "important objects."'3 Limits are implied by the very nature of the task. There is not the same freedom in construing the Constitution as in constructing a …
How To Use, Abuse—And Fight Back With—Crime Statistics, Yale Kamisar
How To Use, Abuse—And Fight Back With—Crime Statistics, Yale Kamisar
Articles
Statistics have an almost magical appeal in a "fact"-minded culture such as ours, among a people conditioned and accustomed to watch for-and attach great significance to-even the smallest fluctuations in say, the unemployment rate. Hence, as Darrell Huff graphically demonstrated in his famous little book, How to Lie with Statistics (1954), they can be-and have been-manipulated to terrorize or calm, inflate or depreciate, and above all, to sensationalize and over simplify. As Harvard criminologist Lloyd Ohlin noted recently, statistics are especially potent when "they give a sense of solid reality (usually false) to something people vaguely apprehend and when they …
The Problem Of Social Cost Revisited, Donald H. Regan
The Problem Of Social Cost Revisited, Donald H. Regan
Articles
SOME years ago, in a paper entitled "The Problem of Social Cost," Professor Ronald Coase asserted and argued for a proposition which has since acquired the convenient sobriquet "the Coase Theorem." The proposition is: That in a world of perfect competition, perfect information, and zero transaction costs, the allocation of resources in the economy will be efficient and will be unaffected by legal rules regarding the initial impact of costs resulting from externalities. Note that there are two claims being made, which it is well to separate for purposes of discussion. The first claim is that, under the conditions described, …
Cooperation Between The Bar And The Public In Improving The Administration Of Justice, Edson R. Sunderland
Cooperation Between The Bar And The Public In Improving The Administration Of Justice, Edson R. Sunderland
Articles
Professor Sunderland compares public participation in the legal systems of the United States and Great Britain. "There must be a partnership between the profession and the laity for improving the administration of justice. Law must become a matter of public concern, and not treated as a mere perquisite of a professional class."