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Courts are rarely asked to judge beauty. Such a subjective practice would normally be anathema to the ideal of objective legal standards. However, one area of federal law has a long tradition of explicitly requiring courts to make aesthetic decisions: the law of design. New designs may be...
Persistent link: https://www.econbiz.de/10014165060
When forming policy under conditions of extreme uncertainty, the optimal approach seems to be a process by which the policy decision is divided into multiple stages, or in other words, an experimental approach. The optimal legal vehicle for such policy experimentation is what I call...
Persistent link: https://www.econbiz.de/10014161381
Biotechnology has never demonstrated its benefits to society more than in 2021. The SARS-CoV-2 virus that caused the CoVID-19 pandemic met a formidable opponent in mRNA vaccines developed and supplied by Moderna and Pfizer/BioNTech. These vaccines are claimed in myriad – not Myriad – patents...
Persistent link: https://www.econbiz.de/10014255494
Cognitive biases play a fundamental part in franchisor-franchisee deal making. Ordinarily, franchisors have more power and information than do franchisees. The disparity between these parties is often exacerbated by the franchisees' psychological dispositions. Are franchisees biased or...
Persistent link: https://www.econbiz.de/10012865812
The most famous element in Bentham's theory of punishment, the Panopticon Prison, expresses his view of the two purposes of punishment, deterrence and special prevention. We investigate Bentham's intuition in a public goods lab experiment by manipulating how much information on punishment...
Persistent link: https://www.econbiz.de/10010270435
The most famous element in Bentham’s theory of punishment, the Panopticon Prison, expresses his view of the two purposes of punishment, deterrence and special prevention. We investigate Bentham’s intuition in a public goods lab experiment by manipulating how much information on punishment...
Persistent link: https://www.econbiz.de/10008633210
The most famous element in Bentham’s theory of punishment, the Panopticon Prison, expresses his view of the two purposes of punishment, deterrence and special prevention. This paper inves-tigates Bentham’s intuition in a public goods lab experiment, by manipulating how much infor-mation on...
Persistent link: https://www.econbiz.de/10014197778
Sanctions are often so weak that a money maximizing individual would not be deterred. In this paper I show that they may nonetheless serve a forward looking purpose if sufficiently many individuals are averse against advantageous inequity. Using the Fehr/Schmidt model (QJE 1999) I define three...
Persistent link: https://www.econbiz.de/10013081462
Does probation pay a double dividend? Society saves the cost of incarceration, and convicts preserve their liberty. But does probation also reduce the risk of recidivism? In a meta-study we show that the field evidence is inconclusive. Moreover it struggles with an identification problem: those...
Persistent link: https://www.econbiz.de/10003905816
The most famous element in Bentham's theory of punishment, the Panopticon Prison, expresses his view of the two purposes of punishment, deterrence and special prevention. We investigate Bentham's intuition in a public goods lab experiment by manipulating how much information on punishment...
Persistent link: https://www.econbiz.de/10003935656