The growth in automated trading systems has been explosive, and regulatory initiatives and analysis with respect to this new form of financial market structure quickly followed. We analyze the use of the definition of an ÒexchangeÓ for the purpose of classification and regulation of automated...

Both journalists and scholars have reported that many lawyers are acutely unhappy with their careers. Evidence from a survey of a large random sample of Chicago lawyers, however, is inconsistent with these reports. About 800 lawyers were personally interviewed in 1994-95. Only 1.6% of the...

We have all encountered situations in which people justify seemingly irrational behavior by referring to rules mandating that behavior. This paper contrasts rules that are especially likely to encourage counterproductive behavior (such as a focus on avoiding blame rather than on achieving some...

What is the relationship between economic development and environmental protection? Mirroring the negotiations field of 15 years ago, the debate over this question has polarized into the opposing perspectives of win-lose (distributive bargaining) or win-win (integrative bargaining) outcomes. We...

This paper uses the National Medical Expenditure Survey of 1987 to measure the importance of job lock as a deterrent to job mobility. I begin by using a simple difference-in-difference technique to estimate the differential effect of family sickness on the job mobility of individuals with and...

This paper examines whether youth understand what is required to attain their college plans. An analysis of a survey of 2000 high school seniors finds that many youth believe they can attain their plans even if they do poorly in high school, and these beliefs strongly predict lower effort in...

This paper challenges conventional social scientific assessments of the postive features of community mobilization in Niagara Falls, New York, around toxic wastes being emitted from the Love Canal. In contrast, I argue that this form of local activism (1) created a new focus on human health...

If we can identify the kinds of people who are connected to persons in positions of authority (and those who are not), then we will know something reasonably concrete about at least the potential for influence. This study analyzes networks of relationships among urban lawyersÑin particular, by...

The automation of trading markets has given rise to a variety of regulatory concerns. We briefly review the regulatory approach used by the U.S. Securities and Exchange Commission in dealing with automation of equity markets and the growth of proprietary trade execution systems in these markets....

This paper examines the framing of social welfare programs in the opinion pages of two major elite newspapers that research shows are widely read by U.S. policymakers. In particular, it focuses on level of attention (salience) and level of support. The data consist of all editorials, op-ed...