Economic Theory Commons^™

New Dimensions In Economic Analysis Of Legal Issues: The Appropriate Regulatory Balance Of Antitrust Law In The Context Of The Technological Innovation, Jungmi Bang

Maurer Theses and Dissertations

The role of Empirical study in legal decision, even in the rule making, was increased by the economic development with the occurrence of economic realism. The incensement of economic implication of the law, without exception, impacted to the court’s ruling in the antitrust case and the antitrust law-making itself. Now it is one of the common way, court use concepts and theories developed by economists and weaves economic concepts into decisions to support their result.

The classical perspective of economic theories regarding antitrust law was start from early theorist Adam Smith in 1776, even it denied the economic implication. Through …

Transatlantic Influences On American Corporate Jurisprudence: Theorizing The Corporation In The United States, Tara Helfman

Indiana Journal of Global Legal Studies

In interpreting and evaluating the history of the Supreme Court's corporate jurisprudence, legal scholars have deployed three broad theories of corporate legal personality: the aggregate entity theory, the artificial entity theory, and the real entity theory. While these theories are powerful ways of conceptualizing the corporation, this article shows that they have not been as central to the Supreme Court's corporate jurisprudence as recent scholarship suggests. It instead argues that historic transformations in the high court's corporate jurisprudence are best understood in light of contemporary intellectual currents rather than through an expost facto application of the aggregate, artificial, and real …

Making Banks On A Global Scale: Management-Based Regulation As Agencement, Mika Viljanen

Indiana Journal of Global Legal Studies

This article seeks to provide a theoretical account of how management-based regulation (MBR), a new regulatory style used by many global regulators, affects its targets. The article centers on a case study. It introduces agencement theory as the theoretical heuristic to inform the analysis of a global, large-scale MBR scheme, the Basel Committee on Banking Supervision's Internal Capital Adequacy Assessment Program (ICAAP). In agencement theory, agency is understood in a neomaterialist frame. The core idea is that an actor's actions are determined by the material assemblage that constitutes her. The agencement heuristic allows ICAAP to be conceptualized as a regulatory …

Contesting Austerity: The Potential And Pitfalls Of Socioeconomic Rights Discourse, Joe Wills, Ben Warwick

Indiana Journal of Global Legal Studies

This article argues that, while socioeconomic rights have the potential to contribute to the contestation of austerity measures and the reimagining of a "postneoliberal" order, there are a number of features of socioeconomic rights as currently constructed under international law that limit these possibilities. We identify these limitations as falling into two categories: "contingent" and "structural". Contingent limitations are shortcomings in the current constitution of socioeconomic rights law that undermine its effectiveness for challenging austerity measures. By contrast, the structural limitations of socioeconomic rights law are those that pertain to the more basic presuppositions and axioms that provide the foundations …

The International Investment Regime After The Global Crisis Of Neoliberalism: Rupture Or Continuity?, Nicolas Perrone

Indiana Journal of Global Legal Studies

This article aims to show that the tools being used to recalibrate the international investment regime, in particular proportionality and corporate social responsibility, constitute continuity rather than rupture with neoliberalism and neoliberal legality. Neoliberalism has been discredited, and few actors suggest a return to self-regulation after the 2008 global economic crisis. This call for regulation, however, finds international economic law scholarship divided between those who claim that standards of review and corporate social responsibility can solve the crisis of neoliberalism, and those who believe that the problem is more profound. In the case of the international investment regime, this article …

Collapsing Illusions: Standards For Setting Efficient Contract And Other Defaults, Steven J. Burton

Indiana Law Journal

In this Essay, Professor Burton analyzes and evaluates four commonly used standards for setting efficient default rules and standards. Based on two theoretical insights, he shows that three of them collapse upon analysis into the fourth, a Coasian standard that turns out to be a dead end. The theoretical upshot is that the Coase Theorem often is a good reason to use defaults rather than mandatory rules or standards. But neither the theorem nor reference to a transaction-costless world sustains particular defaults. To set an efficient default, the law should guide courts toward supplying terms that parties should have adopted …

Tlos And Global Financial Markets: The Case Of Derivatives, Hannah L. Buxbaum

Articles by Maurer Faculty

No abstract provided.

An End To End-To-End? A Review Essay Of Barbara Van Schewick’S Internet Architecture And Innovation, Adam Candeub

Federal Communications Law Journal

Amidst much controversy, the FCC released its landmark "network neutrality" order in December 2010. This regulation prohibits Internet service providers, such as Verizon or Comcast, from discriminating in favor of traffic or content that they own or with which they are affiliated. Professor Barbara van Schewick's recently published book, Internet Architecture and Innovation, could not be timelier. Employing a variety of economic and technical arguments, van Schewick defends the type of regulation the FCC passed as necessary to preserve the Internet's potential for innovation. My central critique of Internet Architecture is its deployment of economic theories on one side of …

Adaptive Policymaking: Evolving And Applying Emergent Solutions For U.S. Communications Policy, Richard S. Whitt

Federal Communications Law Journal

This Article presents some specific ways that U.S. policymakers should use teachings from the latest thinking in economics to create a conceptual framework in order to grapple with current controversies in communications law and regulation. First, it provides a brief overview of Emergence Economics, with an emphasis on the "rough formula" of emergence and the unique role of technological change in creating and furthering innovation and economic growth. Second, this paper explicates the general concept of "Adaptive Policymaking" by governments and includes some proposed guiding principles, an outline of the public policy design space, and an adaptive toolkit to be …

On Game Theory And The Law, Kenneth G. Dau-Schmidt, Jeffrey E. Stake, Robert H. Heidt, Eric Rasmusen, Michael Alexeev

Articles by Maurer Faculty

No abstract provided.

Relaxing Traditional Economic Assumptions And Values: Toward A New Disciplinary Discourse On Law, Kenneth G. Dau-Schmidt

Articles by Maurer Faculty

Economics has been viewed traditionally as a discipline removed from other, "softer", fields of social analysis. Professor R. Malloy has fought to remove these barriers and encourage interdisciplinary dialogue. In a field previously dominated by normative values of majority power holders, a multidisciplinary approach allows for a more extensive examination of social trends and the question of innate human "rights". By relaxing the assumptions of traditional neoclassical economic analysis, one can gain a theoretical perspective that includes insights from multiple disciplines. This article reinforces Malloy's conceptualization of new social analysis, hoping to further this new interdisciplinary cooperation.

The Politics Of The Coase Theorem And Its Relationship To Modern Legal Thought, Donald H. Gjerdingen

Articles by Maurer Faculty

No abstract provided.

The Coase Theorem And The Psychology Of Common-Law Thought, Donald H. Gjerdingen

Articles by Maurer Faculty

The Coase Theorem is a simple proposition-in the absence of transaction costs, a Pareto optimal result will occur regardless of the initial placement of legal liability. Despite this apparent simplicity, however, Coase's economic parable has provoked intense debate in the legal community. Why does the theorem grate on the hardened intuitions of so many lawyers? The thesis of this Article is that a connection exists between the adoption or rejection of a given school of legal thought and the use of certain psychological constructs. Specifically, this Article argues that the constructs underlying the Coase Theorem are incompatible with those underlying …

Potential Competition Mergers: A Structural Synthesis, Joseph F. Brodley

Articles by Maurer Faculty

No abstract provided.

Private Markets And Social Control, Lloyd D. Orr

IUSTITIA

The continuing failure of society to deal adequately with its problems has led to criticism that goes beyond the imperfections of a fundamentally sound social organization. Individual economic incentive and private markets, the basics of our economic organization, are condemned as inherently destructive of desirable social goals. It may be that such criticism is naive with respect to the basic history of economic organization and the prospects for meaningful alternatives. It also may be that the "solutions" offered are frequently more authoritarian than the critics allege the present system to be. We are still left to ponder the vital, long-standing, …

Book Review. Massive Industrial Size, Classical Economics, And The Search For Humanistic Value, Joseph F. Brodley

Articles by Maurer Faculty

No abstract provided.

The Generality Of Neutral Principles: A Game-Theoretic Perspective, Robert L. Birmingham

Articles by Maurer Faculty

Eleven years ago Professor Wechsler first argued that constitutional adjudication should be based on neutral principles of general applicability that transcend the factual contexts of the cases in which they are announced. Since that time, legal scholars have been engaged in a continuing debate over both the meaning and the validity of Wechsler's thesis. Professor Birmingham adds a new perspective to this debate by analyzing neutrality and generality in terms of game theory.

The Theory Of Economic Policy And The Law Of Torts, Robert L. Birmingham

Articles by Maurer Faculty

No abstract provided.

Breach Of Contract, Damage Measures, And Economic Efficiency, Robert L. Birmingham

Articles by Maurer Faculty

No abstract provided.

A Second Look At The Suez Canal Cases: Excuse For Nonperformance Of Contractual Obligations In The Light Of Economic Theory, Robert L. Birmingham

Articles by Maurer Faculty

No abstract provided.

Oligopoly Power Under The Sherman And Clayton Acts -- From Economic Theory To Legal Policy, Joseph F. Brodley

Articles by Maurer Faculty

No abstract provided.

Our Economic Problem: The Concentration Of Wealth, Hugh Evander Willis

Articles by Maurer Faculty

No abstract provided.