Social and Behavioral Sciences Commons^™

In Israeli-Palestinian Conflict, Could Commerce Foster Trust, Tolerance, And Peace?, Nathan B. Oman

Nathan B. Oman

No abstract provided.

Gop Tax Policy Should Ditch Keynes For Hayek, Nathan B. Oman

Nathan B. Oman

No abstract provided.

Price Theory And Vertical Restraints: A Misunderstood Relation, Alan J. Meese

Alan J. Meese

The Chicago School of antitrust analysis has exerted a strong influence over the law of vertical restraints in the past two decades, leading the Supreme Court to abandon much of its traditional hostility toward such agreements. Chicago's success has provoked a vigorous response from Populists, who support the traditional approach. Chicago, Populists claim, has improperly relied upon neoclassical price theory to inform the normative and descriptive assumptions that drive its analysis of trade restraints generally and of vertical restraints in particular. This reliance is misplaced, Populists assert, because the real world departs from that portrayed by price-theoretic models and, at …

Economic Theory, Trader Freedom And Consumer Welfare: State Oil Co. V. Khan And The Continuing Incoherence Of Antitrust Doctrine, Alan J. Meese

Alan J. Meese

No abstract provided.

When Y2k Causes "Economic Loss" To "Other Property", Peter A. Alces, Aaron S. Book

Peter A. Alces

No abstract provided.

Avoiding Takings “Accidents”: A Torts Perspective On Takings Law, Eric Kades

Eric A. Kades

Viewing the Takings Clause of the Fifth Amendment as a form of insurance appeals to our intuition. The government, like fire, does not often "take" property, but when faced with extraordinary risk property owners naturally desire compensation. Recent scholarship, however, has dissolved the attractiveness of this perspective. This literature, through economic analysis, claims that the Takings Clause should be repealed and replaced with private takings insurance. This is the "no-compensation" result. This article argues that the insurance-based understanding of the just compensation requirement can be preserved without reaching the surprising no-compensation result. The intuitive appeal of understanding the Takings Clause …

Will Marriage Promotion Work?, Vivian E. Hamilton

Vivian E. Hamilton

No abstract provided.

Endowment Effects In Chimpanzees, Owen D. Jones, Sarah F. Brosnan, Susan P. Lambeth, Mary Catherine Mareno, Amanda S. Richardson, Steven Schapiro

Owen Jones

Human behavior is not always consistent with standard rational choice predictions. The much-investigated variety of apparent deviations from rational choice predictions provides a promising arena for the merger of economics and biology. Although little is known about the extent to which other species also exhibit these seemingly irrational patterns of human decision-making and choice behavior, similarities across species would suggest a common evolutionary root to the phenomena.

The present study investigated whether chimpanzees exhibit an endowment effect, a seemingly paradoxical behavior in which humans tend to value a good they have just come to possess more than they would have …

Law, Biology, And Property: A New Theory Of The Endowment Effect, Owen D. Jones, Sarah F. Brosnan

Owen Jones

Recent work at the intersection of law and behavioral biology has suggested numerous contexts in which legal thinking could benefit by integrating knowledge from behavioral biology. In one of those contexts, behavioral biology may help to provide theoretical foundation for, and potentially increased predictive power concerning, various psychological traits relevant to law. This Article describes an experiment that explores that context.

The paradoxical psychological bias known as the endowment effect puzzles economists, skews market behavior, impedes efficient exchange of goods and rights, and thereby poses important problems for law. Although the effect is known to vary widely, there are at …

Inequality, Boom, And Bust: From Billionaire Capitalism To Equality And Full Employment, Howard J. Sherman, Paul Sherman

HOWARD J SHERMAN

Inequality, Boom, And Bust: From Billionaire Capitalism To Equality And Full Employment, Howard J. Sherman, Paul Sherman

HOWARD J SHERMAN

Do Deterrents Prevent Undeclared Work? An Evaluation Of The Rational Economic Actor Approach, Ioana Horodnic, Colin C. Williams

Colin C Williams

The Impact Of Separating Fed From Nonfed Beef In An Econometric Simulation , Dyaa Kamal Adbou Ahmed Kamal-Abdou

Ahmed Kamal

No abstract provided.

Tackling Undeclared Work In Croatia: Knowledge-Informed Policy Responses, Colin C. Williams, Peter Rodgers, Ruslan Stefanov

Colin C Williams

KEY POINTS

Preventative Policy Measures To Tackle Undeclared Work In Croatia, Colin C. Williams

Colin C Williams

Malaysian Development Planning, David Lim

Prof. David Lim

Development planning has been described as "a deliberate governmental attempt to coordinate economic decision-making over the long-run and to influence, direct and, in some cases, even control the level and growth of a nation's principal economic variables (income, comsumption, employment, investment, saving, exports, imports, etc.) in order to achieve a pre-determined set of development objectives." One set of reasons for planning centres round the operation of the market system. Thus, market prices are often distorted and can result in a misallocation of scarce resources. Another set revolves round the need to have a rallying point for local and foreign interests …

On The Measurement Of Capital Utilisation In Less Developed Countries, David Lim

Prof. David Lim

The shortage of physical capital is often seen as the crucial constraint to growth in less developed countries (LDCs). Thus many development plans are based on the aggregate Harrod-Domar model where the growth of the economy is seen to depand only on the availability and the productivity of capital. A corollary of such a capital-centred approach to development is that the capital plant and machinery installed are utilized to the full. However, recent studies claim that capital under-utilization exists on a massive scale in manufacturing in LDCs and raise the possibility of a parabox in capital usage in capital-scarce LDCs. …

The Garnaut Report: An Overview, David Lim

Prof. David Lim

The Gaunaut Report analyses the process of economic change in Northeast Asia and assesses the implication of this on Australia. It is an important report because of what it says, when it is said, and how it is said. Its findings are neither new nor surprising for those who have been studying Northeast Asian economic development and Australia-Asia relations. But they are nevertheless important findings and presented as they are now and in a report to the Prime Minister and the Minister for Foreign Affairs and Trade by someone who was the former's trusted chief economic adviser and the latter's …

Explaining The Growth Performances Of Asian Developing Economies, David Lim

Prof. David Lim

No matter how it is measured, the growth performance of the newly industrializing economies (NIEs) stands out. That of the Southeast Asian group, with the exception of the Philippines, and that of China is also impressive. The South Asian countries have done much less well, with countries in sub-Saharan Africa, the Caribbean, and Latin America even further behind...

Export Instability And Economic Development : The Example Of West Malaysia, David Lim

Prof. David Lim

No abstract provided.

Actual, Desired And Full Levels Of Capital Utilisation In Malaysian Manufacturing, David Lim

Prof. David Lim

This paper shows that capital utilisation in West Malaysian manufacturing, though higher than that in other less developed countries, still leaves capital plant idle for a considerable proportion of the total available time. These findings, based on a modified McGraw‐Hill measure and on the Winston time‐measure of capital utilisation, therefore calls into question the wisdom of an industrial investment incentive programme which aims primarily at maximising the volume of capital expenditure, and which pays no attention at all to the level of utilisation of the existing stock of capital.

Europe 1992: Economic Implications For Asia, David Lim

Prof. David Lim

The European Economic Community (EEC) was formed in 1957 with the signing of the Treaty of Rome. This brought together six countries (Belgium, France, West Germany, Italy, Luxemberg and the Netherlands) which were involved in the conflict of the Second World War. The Impetus for the establishment of the EEC was political but the economic gains from the operation of the scheme, popularly known as the Common Market, were so significant that eventually the original membership of six was doubled to include Denmark, Greece, Ireland, Portugal, Spain and the United Kingdom. The so-called Europe 1992 Project aims to bring about …

Export Instability, Investment And Economic Growth In Developing Countries, David Lim

Prof. David Lim

Export instability is often seen to be detrimental to the economic growth of those developing countries which have a large export sector and which depend on a few primary products for this export. One of the arguments against export instability is that it produces instability in government revenue which leads to instability in government expenditure. This instability in government expenditure is then seen to affect economic growth adversely in two ways...

Another Look At Growth And Defense In Less Developed Countries, David Lim

Prof. David Lim

Using an estimating equation that was devised systematically within an explicit conceptual framework, it shows that defence spending was detrimental to economic growth. Finds regional differences in that the adverse effects were marked in Africa and the Western hemisphere, but absent in Asia, the Middle East, and Southern Europe.

Export Instability And Economic Growth: A Return To Fundamentals, David Lim

Prof. David Lim

No abstract provided.

Merger Simulation: A Simplified Approach With New Applications, Roy J. Epstein, Daniel L. Rubinfeld

Daniel L. Rubinfeld

Merger simulation is growing in importance as a tool to evaluate the unilateral competitive effects of mergers. This paper offers a relatively non-technical description of the principles of merger simulation. In addition, it introduces PCAIDS, a new and highly flexible "calibrated-demand" merger simulation methodology that is based on a simplified version of AIDS. PCAIDS can be implemented using market shares and two price elasticities; scanner or transaction-level data are not required. The paper offers some applications of merger simulation with PCAIDS that include comparisons with other simulation models. It also shows how PCAIDS can be applied to the analysis of …

Antitrust Enforcement In Dynamic Network Industries, Daniel L. Rubinfeld

Daniel L. Rubinfeld

No abstract provided.

Delayed Planting, Prevented Planting And Replanting Crop Insurance Coverage, Steven D. Johnson, William M. Edwards

William Edwards

The frequent rains that have soaked Iowa this year have left many corn and soybean fields unplanted or with flooded areas. Many producers are wondering what options they have under their multiple peril crop insurance (MPCI) policies. In Iowa, the crop insurance “late planting period” for corn begins on June 1. Corn can still be planted after this date, but the insurance guarantee on those acres is reduced by 1 percent per day until the acres are planted. Corn acres planted after June 25 will receive insurance coverage equal to 60 percent of their original guarantee. Producers should keep accurate …

Ag Decision Maker: Combine Ownership Or Custom Hire, William M. Edwards, H. Mark Hanna

William Edwards

Includes advantages and disadvantages of custom hiring and information on estimating costs; includes worksheets.

Compensation Of Farm Employees, William M. Edwards

William Edwards

Iowa farm operators were surveyed to learn what type and level of compensation they paid to full-time employees in 1997. The average total compensation paid was $26, 914, of which 79 percent consisted of cash wages.Benefits accounted for 18 percent of the compensation, and bonuses and wages in kind amounted to 3 percent.Housing and insurance plans were the most significant benefits provided