I show that an introduction of a liability on firms, proportional to the difference between consumers' beliefs and the effective terms of purchase/contract, can improve both social welfare and consumer surplus, depending on the relative magnitudes of: 1) decrease in the gap between the beliefs...

This amicus brief was filed before the United States Supreme Court in United States v. Quality Stores, Inc., No. 12-1408, to discuss whether Chevron or Skidmore provides the appropriate standard for judicial review of IRS revenue rulings. The brief summarizes and expands upon arguments made in...

This amicus brief was filed before the United States Supreme Court in United States Home Concrete & Supply, LLC, No. 11-139, to discuss two issues raised by the procedures used by the Treasury Department in adopting Treas. Reg. 301.6501(e)-1, at issue in the case: (1) whether Treas. Reg....

International investment agreements (IIAs) almost universally define their temporal validity and thus set conditions for States’ exit from these treaties. This study presents the results of the survey of language that determines the temporal validity of 2,061 bilateral investment agreements...

Investor-State dispute settlement mechanisms (ISDS) are an important component of most International Investment Agreements (IIAs) and have significant influence on how disputes between States and investors are resolved. This statistical survey of a large sample of 1,660 bilateral investment...

The Chinese exchange rate policy is a hotly debated topic. Comments are heard from politicians, economists and lawyers alike, with fingers pointed at the Renminbi (RMB) undervaluation blaming it for job loss in the United States or for causing the credit crisis by creating global imbalances and...

Investor-State dispute settlement mechanisms (ISDS) are an important component of most International Investment Agreements (IIAs) and have significant influence on how disputes between States and investors are resolved.This statistical survey of a large sample of 1,660 bilateral investment...

Modern practice of international business requires companies to structure their corporate form into one which would be advantageous and safe for the management, growth and sustainability of business. However, when corporate structuring is used to avoid obligations of the company, the latter may...

What is the role of economic evidence and arguments in WTO and investor-state dispute settlement? Both regimes epitomize the search for an international rule of law and legal stability. At the same time, both trade and investment agreements are economic contracts. Economics provides insights not...