regulation versus litigation perspectives from economics and law national bureau of economic research conference report

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Regulation Versus Litigation

Author : Daniel P. Kessler
ISBN : 9780226432182
Genre : Business & Economics
File Size : 33. 64 MB
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The efficacy of various political institutions is the subject of intense debate between proponents of broad legislative standards enforced through litigation and those who prefer regulation by administrative agencies. This book explores the trade-offs between litigation and regulation, the circumstances in which one approach may outperform the other, and the principles that affect the choice between addressing particular economic activities with one system or the other. Combining theoretical analysis with empirical investigation in a range of industries, including public health, financial markets, medical care, and workplace safety, Regulation versus Litigation sheds light on the costs and benefits of two important instruments of economic policy.

Economic Regulation And Its Reform

Author : Nancy L. Rose
ISBN : 9780226138169
Genre : Business & Economics
File Size : 83. 21 MB
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The past thirty years have witnessed a transformation of government economic intervention in broad segments of industry throughout the world. Many industries historically subject to economic price and entry controls have been largely deregulated, including natural gas, trucking, airlines, and commercial banking. However, recent concerns about market power in restructured electricity markets, airline industry instability amid chronic financial stress, and the challenges created by the repeal of the Glass-Steagall Act, which allowed commercial banks to participate in investment banking, have led to calls for renewed market intervention. Economic Regulation and Its Reform collects research by a group of distinguished scholars who explore these and other issues surrounding government economic intervention. Determining the consequences of such intervention requires a careful assessment of the costs and benefits of imperfect regulation. Moreover, government interventions may take a variety of forms, from relatively nonintrusive performance-based regulations to more aggressive antitrust and competition policies and barriers to entry. This volume introduces the key issues surrounding economic regulation, provides an assessment of the economic effects of regulatory reforms over the past three decades, and examines how these insights bear on some of today’s most significant concerns in regulatory policy.

Life Course Smoking Behavior

Author : Dean R. Lillard
ISBN : 9780199389124
Genre : Medical
File Size : 21. 84 MB
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Despite efforts to curb tobacco use, global tobacco addiction remains as strong as ever. Smoking rates are declining very slowly in advanced countries, and they are increasing in the developing world. Yet, researchers still do not fully understand what drives smoking decisions. Life-Course Smoking Behavior presents smoking trajectories of different generations of women and men from ten of the world's most visible countries, with nation-specific representative samples spanning more than eighty years of recent history. To inspire hypotheses on the determinants of smoking behavior, the authors place these data in economic, political, social, and cultural contexts, which differ greatly both across countries at a particular time and over time in a given country. Though significant research has been conducted on smoking statistics and tobacco control policies, most descriptions of smoking behavior rely on cross-sectional "snapshot" data that do not track individuals' habits throughout their lifespan. Lillard and Christopoulou's work is a unique and necessary text in its comparative life-course approach, making it a long overdue complement to the existing literature.

Law Virtue And Justice

Author : Amalia Amaya
ISBN : 9781782250333
Genre : Law
File Size : 86. 72 MB
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This book explores the relevance of virtue theory to law from a variety of perspectives. The concept of virtue is central in both contemporary ethics and epistemology. In contrast, in law, there has not been a comparable trend toward explaining normativity on the model of virtue theory. In the last few years, however, there has been an increasing interest in virtue theory among legal scholars. 'Virtue jurisprudence' has emerged as a serious candidate for a theory of law and adjudication. Advocates of virtue jurisprudence put primary emphasis on aretaic concepts rather than on duties or consequences. Aretaic concepts are, on this view, crucial for explaining law and adjudication. This book is a collection of essays examining the role of virtue in general jurisprudence as well as in specific areas of the law. Part I puts together a number of papers discussing various philosophical aspects of an approach to law and adjudication based on the virtues. Part II discusses the relationship between law, virtue and character development, with some of the essays selected analysing this relationship by combining both eastern perspectives on virtue and character with western approaches. Parts III and IV examine problems of substantive areas of law, more specifically, criminal law and evidence law, from within a virtue-based framework. Last, Part V discusses the relevance of empathy to our understanding of justice and legal morality.

Regulation Through Litigation

Author : W. Kip Viscusi
ISBN : 0815798857
Genre : Law
File Size : 35. 7 MB
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Recent high-profile lawsuits involving cigarettes, guns, breast implants, and other products have created new frictions between litigation and regulation. Increasingly, litigation is being used as a financial lever to force companies to accept negotiated regulatory policies—policies that invariably involve less public input and accountability than those arising from government regulation. The process not only usurps the traditional governmental authority for regulation, but also shifts the locus of establishing tax policy from the legislature to the parties involved in the litigation. Citizen interests are not explicitly represented and there is no mechanism to ensure that these outcomes are in society's best interests. By focusing on case studies involving the tobacco industry, guns, lead paint, breast implants, and health maintenance organizations, the contributors to this volume collectively shed light on the likely consequences of regulation through litigation for insurance markets and society at large. They analyze the ramifications of large-scale lawsuits, mass torts, and class actions for the insurance market, and advocate increased public scrutiny of attorney reimbursement and a competitive bidding process for all lawsuits involving government entities as the plaintiffs.

Handbook For Evaluating Infrastructure Regulatory Systems

Author : Ashley C. Brown
ISBN : 9780821365809
Genre : Business & Economics
File Size : 71. 83 MB
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More than 200 new infrastructure regulators have been created around the world in the last 15 years. They were established to encourage clear and sustainable long-term economic and legal commitments by governments and investors to encourage new investment to benefit existing and new customers. There is now considerable evidence that both investors and consumers-the two groups that were supposed to have benefited from these new regulatory systems-have often been disappointed with their performance. The fundamental premise of this book is that regulatory systems can be successfully reformed only if there are independent, objective and public evaluations of their performance. Just as one goes to a medical doctor for a regular health checkup, it is clear that infrastructure regulation would also benefit from periodic checkups. This book provides a general framework as well as detailed practical guidance on how to perform such "regulatory checkups."

The Economics Of Crime

Author : Rafael Di Tella
ISBN : 9780226791852
Genre : Business & Economics
File Size : 70. 27 MB
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This title presents a survey of the crime problem in Latin America, which takes a very broad and appropriately reductionist approach to analyse the determinants of the high crime levels, focusing on the negative social conditions in the region, including inequality and poverty, and poor policy design, such as relatively low police presence. The chapters illustrate three channels through which crime might generate poverty, that is, by reducing investment, by introducing assets losses, and by reducing the value of assets remaining in the control of households.

Consumer Credit And The American Economy

Author : Thomas A. Durkin
ISBN : 9780195169928
Genre : Business & Economics
File Size : 21. 27 MB
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Consumer Credit and the American Economy examines the economics, behavioral science, sociology, history, institutions, law, and regulation of consumer credit in the United States. After discussing the origins and various kinds of consumer credit available in today's marketplace, this book reviews at some length the long run growth of consumer credit to explore the widely held belief that somehow consumer credit has risen "too fast for too long." It then turns to demand and supply with chapters discussing neoclassical theories of demand, new behavioral economics, and evidence on production costs and why consumer credit might seem expensive compared to some other kinds of credit like government finance. This discussion includes review of the economics of risk management and funding sources, as well discussion of the economic theory of why some people might be limited in their credit search, the phenomenon of credit rationing. This examination includes review of issues of risk management through mathematical methods of borrower screening known as credit scoring and financial market sources of funding for offerings of consumer credit. The book then discusses technological change in credit granting. It examines how modern automated information systems called credit reporting agencies, or more popularly "credit bureaus," reduce the costs of information acquisition and permit greater credit availability at less cost. This discussion is followed by examination of the logical offspring of technology, the ubiquitous credit card that permits consumers access to both payments and credit services worldwide virtually instantly. After a chapter on institutions that have arisen to supply credit to individuals for whom mainstream credit is often unavailable, including "payday loans" and other small dollar sources of loans, discussion turns to legal structure and the regulation of consumer credit. There are separate chapters on the theories behind the two main thrusts of federal regulation to this point, fairness for all and financial disclosure. Following these chapters, there is another on state regulation that has long focused on marketplace access and pricing. Before a final concluding chapter, another chapter focuses on two noncredit marketplace products that are closely related to credit. The first of them, debt protection including credit insurance and other forms of credit protection, is economically a complement. The second product, consumer leasing, is a substitute for credit use in many situations, especially involving acquisition of automobiles. This chapter is followed by a full review of consumer bankruptcy, what happens in the worst of cases when consumers find themselves unable to repay their loans. Because of the importance of consumer credit in consumers' financial affairs, the intended audience includes anyone interested in these issues, not only specialists who spend much of their time focused on them. For this reason, the authors have carefully avoided academic jargon and the mathematics that is the modern language of economics. It also examines the psychological, sociological, historical, and especially legal traditions that go into fully understanding what has led to the demand for consumer credit and to what the markets and institutions that provide these products have become today.

The Global Competitiveness Report 2004 2005

Author : Michael E. Porter
ISBN : 1403949131
Genre : Business & Economics
File Size : 49. 78 MB
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The World Economic Forum's annual Global Competitiveness Report evaluates the potential for sustained economic growth of over 100 economies and ranks them accordingly. Since it first release in 1979, the Report has become the most authoritative and comprehensive study of its type. The 2004-2005 Report Contains: *Detailed country competitiveness provides of 104 economies *Data tables for survey and hard data variable ranking profiled economies *Complementary global rankings: the Growth Competitiveness Index (GCI) and the Business Competitiveness Index (BCI), measuring growth and productivity respectively *Exclusive Data from the Executive Onion Survey, with over 8,700 responses from business leaders worldwide. Produced in collaboration with a distinguished group of international scholars and a global network of over 100 leading national research institutes and business organizations, the Report also showcases the latest thinking and research on issues of immediate relevance for business leaders and policy-makers.

A Legal And Economic Assessment Of European Takeover Regulation

Author : Christophe Clerc
ISBN : 9461382340
Genre : Business & Economics
File Size : 78. 13 MB
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"Takeovers are one-off events, altering control and strategy within an organisation. But the chances of becoming the target of a bid, even where remote, daily influence corporate decision-making. Takeover rules are therefore central to company law and the balance of power among managers, shareholders and stakeholders alike. This study analyses the corporate governance drivers underpinning takeover bid regulations and assesses the implementation of the EU Directive on takeover bids and compares it with the legal framework of nine other major jurisdictions, including the US. It finds that similar rules have different effects depending on company-level and country-level characteristics and considers the use of modular legislation and optional provisions to cater for them. This book is an abridged version, with additional policy suggestions, of the study prepared for the European Commission jointly by CEPS and the law firm Marccus Partners. The legal analysis in this book was conducted by Christophe Clerc, partner with the law firm Pinsent Masons and general manager of the Paris office and Fabrice Demarigny, Chairman of Marccus Partners and Head of Capital Market Activities within the Mazars group. The economic analysis was carried out by Diego Valiante, Research Fellow at CEPS and its in-house European Capital Markets Institute (ECMI) and by Mirzha de Manuel Aramendía, Researcher at ECMI and CEPS."--Publisher description.

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