Open Access. Powered by Scholars. Published by Universities.®
Social and Behavioral Sciences Commons™
Open Access. Powered by Scholars. Published by Universities.®
- Keyword
-
- Juries (2)
- Law and economics (2)
- Paternalism (2)
- Behavioral (1)
- Behavioral economics (1)
-
- Behavioral law and economics (1)
- Common Law and Securities Fraud (1)
- Cost benefit analysis (1)
- Criminal law (1)
- Disclosure (1)
- Duties (1)
- Empirical Projects (1)
- Fairness (1)
- Gender (1)
- Jury behavior (1)
- Jury nullification (1)
- Kaldor-Hicks (1)
- Legal theory (1)
- Materiality (1)
- Pareto (1)
- Preferences (1)
- Punitive damages (1)
- Race (1)
- Rationality (1)
- Reasonable person (1)
- Rule of law (1)
- Securities law (1)
- Utilitarianism (1)
Articles 1 - 3 of 3
Full-Text Articles in Social and Behavioral Sciences
The "Duty" To Be A Rational Shareholder, David A. Hoffman
The "Duty" To Be A Rational Shareholder, David A. Hoffman
David A Hoffman
How and when do courts determine that corporate disclosures are actionable under the federal securities laws? The applicable standard is materiality: would a (mythical) reasonable investor have considered a given disclosure important. As I establish through empirical and statistical testing of approximately 500 cases analyzing the materiality standard, judicial findings of immateriality are remarkably common, and have been stable over time. Materiality's scope results in the dismissal of a large number of claims, and creates a set of cases in which courts attempt to explain and defend their vision of who is, and is not, a reasonable investor. Thus, materiality …
Nullificatory Juries, David A. Hoffman, Kaimipono D. Wenger
Nullificatory Juries, David A. Hoffman, Kaimipono D. Wenger
David A Hoffman
In this Article, we argue that current debates on the legitimacy of punitive damages would benefit from a comparison with jury nullification in criminal trials. We discuss critiques of punitive damages and of jury nullification, noting the surprising similarities in the arguments scholars use to attack these (superficially) distinct outcomes of the jury guarantee. Not only are the criticisms alike, the institutions of punitive damages and jury nullification also turn out to have many similarities: both are, we suggest, examples of what we call "nullificatory juries." We discuss the features of such juries, and consider recent behavioral data relating to …
Can Law And Economics Be Both Practical And Principled?, David A. Hoffman, Michael P. O'Shea
Can Law And Economics Be Both Practical And Principled?, David A. Hoffman, Michael P. O'Shea
David A Hoffman
This article describes important recent developments in normative law and economics, and the difficulties they create for the project of efficiency-based legal reform. After long proceeding without a well articulated moral justification for using economic decision procedures to choose legal rules, scholars have lately begun to devote serious attention to developing a philosophically attractive definition of well-being. At the same time, the empirical side of law and economics is also being enriched with an improved understanding of the complexities of individuals' decision-making behavior. That is where the problems begin. Scholars may have better, more plausible conceptions of well-being in hand, …