Monthly Archives: July, 2015

Schwartz and Scott, ‘Third-Party Beneficiaries and Contractual Networks’

Abstract: An increasing trend of economic agents is to form productive associations such as networks, platforms, and other hybrids. Subsets of these agents contract with each other to further their network project and these contracts can create benefits for, or impose costs on, agents who are not contract parties. Contract law regulates third party claims […]

Emily Sherwin, ‘Formal Elements of Contract and Fiduciary Law’

Abstract: Contract law, with its history in the dual systems of law and equity, has resources that allow courts to announce determinate, seemingly absolute, rules but make exceptions at the enforcement stage when the outcome of the rules seems particularly harsh. For better or worse, fiduciary law does not support a comparable type of compromise […]

Alan Rau, ‘Punitive, Exemplary, “Vindictive”, or Edifying Damages of Whatever Nature’

Abstract: One critical arena for the clash of competing visions of arbitration – viewed from one angle as an exercise in adjudication, and yet from another as an exercise in private self-government – is the subject of the present paper – the ability of arbitral tribunals to grant or to withhold awards of punitive damages. […]

‘Impairing State Contractual Commitments – How Sacred Should Contracts Be?’

“In early May, the Illinois Supreme Court unanimously struck down a 2013 state pension reform law. That statute reduced various public pension benefits in an effort to reduce overwhelming debt in the public pension system. The Court affirmed a lower court ruling that the bill violated the pension protection clause in the Illinois state constitution, […]

Christopher Hodges, ‘US class actions: promise and reality’

Abstract: The US class action is the best-known tool of civil procedure for enforcement of mass private rights. It is intended to achieve judicial and procedural economy in civil procedure, and to exert significant pressure on corporate defendants to observe the law. This piece summarises the major empirical evidence on how the mechanism works. It […]

Peter Yu, ‘The Copy in Copyright’

Abstract: Since their inception, copyright and proto-copyright laws have been developed around the concept of ‘copy’, which primarily referred to printed book manuscripts in the reign of Queen Anne. Although copyright began mostly as a right vested in copies, and therefore a right to prevent others from multiplying copies, the emphasis has now been dramatically […]

Giesela Ruhl, ‘The Role of Economic Efficiency in European Private International Law’

Abstract: In recent years, a growing number of contributions have devoted attention to the ‘general part’ of European private international law: in a number of articles academics have either examined how legal concepts traditionally categorized as ‘general’ (eg characterization, choice of law, preliminary questions, ordre public, renvoi) are designed in the Regulations thus far enacted […]

Call for Papers: Italian Society of Law and Economics, 11th annual conference, in Napoli 18-19 December 2015

The Italian Society of Law and Economics (ISLE – SIDE) welcomes submissions of papers on any topic regarding the Economic Analysis of Law for its 11th annual conference to be held in Napoli (Italy) on December 18-19, 2015, at the Department of Economic Science of the University of Naples – Federico II. ISLE invites contributions […]

Paul Heaton, ‘How Does Tort Law Affect Consumer Auto Insurance Costs?’

Abstract: Although proponents of tort reform argue that it will benefit consumers through lowered insurance premiums and increased insurance availability, to date there is limited empirical evidence linking tort law to consumer outlays. Using data from the Consumer Expenditure Survey and a differences-in-differences research design, this article examines whether any of several common state-level modifications […]

‘A Pluralistic Vision of Incentivizing Innovation’

Daniel J Hemel and Lisa Larrimore Ouellette, Beyond the Patents-Prizes Debate, 92 Texas Law Review 303 (2013). In the 19th century, legal scholarship focused on legal doctrine. In the 20th century, legal scholars began to examine the policy effects of legal doctrine, paying particular attention to how changes in doctrine could yield better policies. Now, […]