Policy debate rages over mandatory employment arbitration. Using a unique database of American Arbitration Association employment dispute awards, this article compares court-tried employment cases and arbitrated employment claims. It compares adjudicated and arbitrated outcomes in the class of...

Experience is a major source of knowledge. Could institutions be improved by eliciting the additional knowledge held by experienced individuals? I show here that in several areas of the law experienced individuals are more critical of institutional quality than inexperienced individuals....

Although federally- and state- chartered corporations function similarly, federal law privileges the former in at least one significant respect: their access to this nation’s federal courts. Pursuant to the language now codified in Section 1332 of the twenty-eighth title of the United States...

The government pension crisis is making news headlines around the country. Contributing to the crisis is a common law of public pensions that diverges from general contract and employment principles. Nowhere is this contradiction more apparent than in California and the several states that have...

Our laws have sought to promote “and enforce a sense of morality in the business community. Well-settled laws regulating fraud, undue influence, fiduciary relationships, confidential information, truth-in-advertising, fair reporting practices, etc., have their origins in moral codes and...

As of the a bankruptcy petition’s filing date (the “petition date”), § 362(a)(1) stays “the commencement or continuation ... of a judicial, administrative, or other action or proceeding against the debtor that was or could have been commenced before the commencement of the case under...

Law is the way civilized societies provide for the conduct of citizens to enhance harmony and optimize achievement of personal liberties. Our laws are an attempt to deal with many of the most horrible ways humans treat each other. Laws are also divided into many sub-specialties, each requiring...

Richterliche Leitsätze sind heute prägender Bestandteil der Rechtssetzung und Rechtsschöpfung in vielen Rechtsgebieten. Obwohl jedoch richterliche Entscheidungen unvermeidbar subjektiv und fehlbar sind, bleibt die Frage nach Leistungsfähigkeit und Grenzen dieses Richterrechts in der...

This paper analyzes competing models of dismissal regulation from a Law and Economics perspective, using the contemporary US and UK dismissal regimes as a comparative benchmark. The regulation of dismissals in the UK and US differs widely in spite of their joint common-law tradition. Whereas the...

In the context of a principal-agent model where verification of an agent’s effort is endogenously determined through strategic interactions between contracting parties, we derive a necessary and suficient condition to achieve the first best with a non-contingent or incomplete contract. These...