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There is an enormous literature analyzing the choice between rules and standards in drafting legal directives. This literature typically focuses on public government-made legal directives such as statutes, regulations, and judicial opinions; it has devoted less attention to privately-drafted...
Persistent link: https://www.econbiz.de/10013217819
In a criminal trial, a jury may observe characteristics about the defendant (or victim) and use them to form a belief on the likelihood of guilt. Many evidentiary rules attempt to limit this inference. If jury beliefs are rational, such rules may be counterproductive. Any prohibition on the use...
Persistent link: https://www.econbiz.de/10012834692
China's revised Anti-Monopoly Law (AML) went into effect in August 2022. In November, the Supreme People's Court (SPC) requested comments on its draft provisions for applying the AML in civil disputes. The Global Antitrust Institute's comment discusses the importance of the AML's newly expressed...
Persistent link: https://www.econbiz.de/10014264078
Conventional wisdom suggests that allowing offenders to choose alternative sanctions to a previously existing punishment cannot enhance deterrence, because offenders can simply select the least costly option available. We experimentally test whether people may perceive punishment menus as more...
Persistent link: https://www.econbiz.de/10014080883
The Biden Administration has signaled an interest in ensuring that regulations appropriately benefit vulnerable and disadvantaged communities. Prior presidential administrations since at least the Reagan Administration have focused on ensuring that regulations are efficient, maximizing the net...
Persistent link: https://www.econbiz.de/10014079850
The overruling of prior case law is one of the most dramatic events in a common-law system, and the rate of overrulings is often considered an important measure of legal change. To measure this process more precisely, and thereby elucidate the relationship between legal doctrines of stare...
Persistent link: https://www.econbiz.de/10014049789
U.S. law requires federal regulators to perform cost-benefit analysis of new rules proposed to correct market failure. As Coase convincingly showed decades ago, the inefficiencies of market failure can be usefully attributed to the costs of transacting. This essay proposes a novel and relatively...
Persistent link: https://www.econbiz.de/10012899533
This article is part of a symposium on the work of Gordon Tullock, to be held in connection with the presentation to Tullock of the Lifetime Achievement Award of the Fund for the Study of Spontaneous Orders at the Atlas Research Foundation, for his contributions to the study of spontaneous...
Persistent link: https://www.econbiz.de/10012730815
This article explores trends towards increased local government land use regulation to spur economic development and towards partnering with private redevelopers. It notes that while Kelo v. City of New London has intensified these trends, the use of condemnation for retransfer for private...
Persistent link: https://www.econbiz.de/10014218978
Exclusive dealing is the last vestige of the pre-economic era of antitrust. And it shows. The Supreme Court's decision in GTE Sylvania nearly 40 years ago was the turning point for the evolution of modern antitrust law in the United States because it made clear “that the analysis of economic...
Persistent link: https://www.econbiz.de/10013002533