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Full-Text Articles in Other Economics

Socioeconomic Influences On Property Crime Rates: A Study In Virginia's Counties, Mary Passley Apr 2019

Socioeconomic Influences On Property Crime Rates: A Study In Virginia's Counties, Mary Passley

Student Scholar Showcase

Most research on factors and causes of crime, whether property or violent crime, focuses on individuals’ behavior or their surrounding environment. In this research, I explore the idea of socioeconomic factors correlated to property crime. I conducted a retrospective design to fully explore United States Census data and crime data gathered by the Bureau of Justice Statistics to discover statistically significant variables connected to property crime. Significant findings were shown by average people per house and retail sales per capita in all counties. Additional significant findings were percent employment change and percent with high school degree or higher in low ...


Developmental Differences: The Role Of Institutions In Oil And Gas Operations Within The State Of Colorado, John Stafford Jan 2019

Developmental Differences: The Role Of Institutions In Oil And Gas Operations Within The State Of Colorado, John Stafford

Undergraduate Honors Theses

I argue differences in institutional design choices governing western lands have demonstrable effects in the extraction of shale resources. Using GIS data on geographic characteristics and shale development data, I create a dataset which allows a spatial link between institutions, natural resource development, and other parcel metrics. This allows for a test of how institutions governing property affect shale development. Employing a border discontinuity, I indicate that Native American land experiences extensively more shale development, compared to the neighboring private, state, and federal lands containing similar potential for shale development. In sum, this study contributes to the property rights scholarship ...


A Bit Like Cash: Understanding Cash-For-Bitcoin Transactions Through Individual Vendors, Stephanie J. Robberson, Mark R. Mccoy Oct 2018

A Bit Like Cash: Understanding Cash-For-Bitcoin Transactions Through Individual Vendors, Stephanie J. Robberson, Mark R. Mccoy

Journal of Digital Forensics, Security and Law

As technology improves and economies become more globalized, the concept of currency has evolved. Bitcoin, a cryptographic digital currency, has been embraced as a secure and convenient type of money. Due to its security and privacy for the user, Bitcoin is a good tool for conducting criminal trades. The Financial Crimes Enforcement Network (FinCEN) has regulations in place to make identification information of Bitcoin purchasers accessible to law enforcement, but enforcing these rules with cash-for-Bitcoin traders is difficult. This study surveyed cash-for-Bitcoin vendors in Oklahoma, Texas, Arkansas, Missouri, Kansas, Colorado, and New Mexico to determine personal demographic information, knowledge of ...


How Corporate Governance Is Made: The Case Of The Golden Leash, Matthew D. Cain, Jill E. Fisch, Sean J. Griffith, Steven Davidoff Solomon Oct 2017

How Corporate Governance Is Made: The Case Of The Golden Leash, Matthew D. Cain, Jill E. Fisch, Sean J. Griffith, Steven Davidoff Solomon

Steven Davidoff Solomon

This Article presents a case study of a corporate governance innovation—the incentive compensation arrangement for activist-nominated director candidates colloquially known as the “golden leash.” Golden leash compensation arrangements are a potentially valuable tool for activist shareholders in election contests. In response to their use, several issuers adopted bylaw provisions banning incentive compensation arrangements. Investors, in turn, viewed director adoption of golden leash bylaws as problematic and successfully pressured issuers to repeal them. The study demonstrates how corporate governance provisions are developed and deployed, the sequential response of issuers and investors, and the central role played by governance intermediaries—activist ...


The Effects Of Employment On Recidivism Among Delinquent Juveniles, Leigh Kassem Aug 2017

The Effects Of Employment On Recidivism Among Delinquent Juveniles, Leigh Kassem

Electronic Theses and Dissertations

Current research indicates an association between intense adolescent work (twenty hours or more per week) and delinquent behavior. It has been widely speculated that this relationship is spurious, occurring only as a result of other factors which are common to both offending and intense employment. The current study attempts to fill a gap in the literature by utilizing the Pathways to Desistance dataset to examine the evolution of the relationship between work and self-reported offending in a longitudinal sample of juvenile offenders. Work intensity and consistency, social capital, and expectations for success were analyzed as potential predictors of recidivism or ...


A Cross-Sectional Exploration Of Household Financial Reactions And Homebuyer Awareness Of Registered Sex Offenders In A Rural, Suburban, And Urban County., John Charles Navarro Aug 2017

A Cross-Sectional Exploration Of Household Financial Reactions And Homebuyer Awareness Of Registered Sex Offenders In A Rural, Suburban, And Urban County., John Charles Navarro

Electronic Theses and Dissertations

As stigmatized persons, registered sex offenders betoken instability in communities. Depressed home sale values are associated with the presence of registered sex offenders even though the public is largely unaware of the presence of registered sex offenders. Using a spatial multilevel approach, the current study examines the role registered sex offenders influence sale values of homes sold in 2015 for three U.S. counties (rural, suburban, and urban) located in Illinois and Kentucky within the social disorganization framework. Homebuyers were surveyed to examine whether awareness of local registered sex offenders and the homebuyer’s community type operate as moderators between ...


The Law And Economics Of Proportionality In Discovery, Jonah B. Gelbach, Bruce H. Kobayashi Jan 2016

The Law And Economics Of Proportionality In Discovery, Jonah B. Gelbach, Bruce H. Kobayashi

Faculty Scholarship at Penn Law

This paper analyzes the proportionality standard in discovery. Many believe the Advisory Committee's renewed emphasis on this standard has the potential to infuse litigation practice with considerably more attention to questions related to the costs and benefits of discovery. We discuss the history and rationale of proportionality's inclusion in Rule 26, adopting an analytical framework that focuses on how costs and benefits can diverge in litigation generally, and discovery in particular. Finally, we use this framework to understand the mechanics and challenges involved in deploying the six factors included in the proportionality standard. Throughout, we emphasize that the ...


How Corporate Governance Is Made: The Case Of The Golden Leash, Matthew D. Cain, Jill E. Fisch, Sean J. Griffith, Steven Davidoff Solomon Jan 2016

How Corporate Governance Is Made: The Case Of The Golden Leash, Matthew D. Cain, Jill E. Fisch, Sean J. Griffith, Steven Davidoff Solomon

Faculty Scholarship at Penn Law

This Article presents a case study of a corporate governance innovation—the incentive compensation arrangement for activist-nominated director candidates colloquially known as the “golden leash.” Golden leash compensation arrangements are a potentially valuable tool for activist shareholders in election contests. In response to their use, several issuers adopted bylaw provisions banning incentive compensation arrangements. Investors, in turn, viewed director adoption of golden leash bylaws as problematic and successfully pressured issuers to repeal them.

The study demonstrates how corporate governance provisions are developed and deployed, the sequential response of issuers and investors, and the central role played by governance intermediaries—activist ...


Mandatory Rules And Default Rules In Insurance Contracts, Tom Baker, Kyle D. Logue Jan 2015

Mandatory Rules And Default Rules In Insurance Contracts, Tom Baker, Kyle D. Logue

Faculty Scholarship at Penn Law

The economic analysis of contract law can be organized around two general questions: (1) what are the efficient or welfare-maximizing substantive rules of contract law; and (2) once those rules have been identified, when if ever should they be made mandatory and when should they be merely “default rules” that the parties can contract around if they wish? Much of contract theory over the past twenty years has been devoted to developing answers to those two questions. The same two questions can be posed with respect to the rules of insurance law. Although previous scholars have examined particular substantive doctrines ...


Public Good Economics And Standard Essential Patents, Christopher S. Yoo Aug 2014

Public Good Economics And Standard Essential Patents, Christopher S. Yoo

Faculty Scholarship at Penn Law

Standard essential patents have emerged as a major focus in both the public policy and academic arenas. The primary concern is that once a patented technology has been incorporated into a standard, the standard can effectively insulate it from competition from substitute technologies. To guard against the appropriation of quasi-rents that are the product of the standard setting process rather than the innovation itself, standard setting organizations (SSOs) require patentholders to disclose their relevant intellectual property before the standard has been adopted and to commit to license those rights on terms that are fair, reasonable, and non-discriminatory (FRAND).

To date ...


A Psychological Account Of Consent To Fine Print, Tess Wilkinson-Ryan May 2014

A Psychological Account Of Consent To Fine Print, Tess Wilkinson-Ryan

Faculty Scholarship at Penn Law

The moral and social norms that bear on contracts of adhesion suggest a deep ambivalence. Contracts are perceived as serious moral obligations, and yet they must be taken lightly or everyday commerce would be impossible. Most people see consent to boilerplate as less meaningful than consent to negotiated terms, but they nonetheless would hold consumers strictly liable for both. This Essay aims to unpack the beliefs, preferences, assumptions, and biases that constitute our assessments of assent to boilerplate. Research suggests that misgivings about procedural defects in consumer contracting weigh heavily on judgments of contract formation, but play almost no role ...


Reinventing Copyright And Patent, Abraham Bell, Gideon Parchomovsky Jan 2014

Reinventing Copyright And Patent, Abraham Bell, Gideon Parchomovsky

Faculty Scholarship at Penn Law

Intellectual property systems all over the world are modeled on the one-size-fits-all principle. However important or unimportant, inventions and original works of authorship receive the same scope of protection, for the same period, backed by the same variety of legal remedies. Metaphorically speaking, all intellectual property is equal under the law. This equality comes at a heavy price. The equality principle gives all creators access to the same remedies, even when those remedies create perverse incentives. Moreover, society overpays for innovation by inflicting on society more monopoly losses than are strictly necessary to incentivize production.

In this Article, we propose ...


The Trouble With Basic: Price Distortion After Halliburton, Jill E. Fisch Jan 2013

The Trouble With Basic: Price Distortion After Halliburton, Jill E. Fisch

Faculty Scholarship at Penn Law

Many commentators credit the Supreme Court’s decision in Basic, Inc. v. Levinson, which allowed courts to presume reliance rather than requiring individualized proof, with spawning a vast industry of private securities fraud litigation. Today, the validity of Basic’s holding has come under attack as scholars have raised questions about the extent to which the capital markets are efficient. In truth, both these views are overstated. Basic’s adoption of the Fraud on the Market presumption reflected a retreat from prevailing lower court recognition that the application of a reliance requirement was inappropriate in the context of impersonal public ...


A Market For Justice: A First Empirical Look At Third Party Litigation Funding, David S. Abrams, Daniel L. Chen Jan 2013

A Market For Justice: A First Empirical Look At Third Party Litigation Funding, David S. Abrams, Daniel L. Chen

Faculty Scholarship at Penn Law

The alienability of legal claims holds the promise of increasing access to justice and fostering development of the law. While much theoretical work points to this possibility, no empirical work has investigated the claims, largely due to the rarity of trading in legal claims in modern systems of law. In this paper we take the first step toward empirically testing some of these theoretical claims using data from Australia. We find some evidence that third-party funding corresponds to an increase in litigation and court caseloads. Cases with third-party funders are more prominent than comparable ones. While third-party funding may have ...


Competition In Information Technologies: Standards-Essential Patents, Non-Practicing Entities And Frand Bidding, Herbert J. Hovenkamp Oct 2012

Competition In Information Technologies: Standards-Essential Patents, Non-Practicing Entities And Frand Bidding, Herbert J. Hovenkamp

Faculty Scholarship at Penn Law

Standard Setting is omnipresent in networked information technologies. Virtually every cellular phone, computer, digital camera or similar device contains technologies governed by a collaboratively developed standard. If these technologies are to perform competitively, the processes by which standards are developed and implemented must be competitive. In this case attaining competitive results requires a mixture of antitrust and non-antitrust legal tools.

FRAND refers to a firm’s ex ante commitment to make its technology available at a “fair, reasonable and nondiscriminatory royalty.” The FRAND commitment results from bidding to have one’s own technology selected as a standard. Typically the FRAND ...


The Relational Contingency Of Rights, Gideon Parchomovsky, Alex Stein Feb 2012

The Relational Contingency Of Rights, Gideon Parchomovsky, Alex Stein

Faculty Scholarship at Penn Law

In this Article, we demonstrate, contrary to conventional wisdom, that all rights are relationally contingent. Our main thesis is that rights afford their holders meaningful protection only against challengers who face higher litigation costs than the rightholder. Contrariwise, challengers who can litigate more cheaply than a rightholder can force the rightholder to forfeit the right and thereby render the right ineffective. Consequently, in the real world, rights avail only against certain challengers but not others. This result is robust and pervasive. Furthermore, it obtains irrespectively of how rights and other legal entitlements are defined by the legislator or construed by ...


La Demostración Jurídica Y Económica: Similitudes Interdisciplinarias Entre Hipótesis, Causas, Efectos Y Normas. La Norma Económica., José Manuel Martin Coronado Feb 2012

La Demostración Jurídica Y Económica: Similitudes Interdisciplinarias Entre Hipótesis, Causas, Efectos Y Normas. La Norma Económica., José Manuel Martin Coronado

José-Manuel Martin Coronado

Hace unos días leí una entrada de blog de un joven abogado de una conocida universidad y (aparentemente) funcionario público, la cual trataba de una aparente metodología para la resolución de casos. Dado el especial interés del autor por el tema metodológico, bastante ausente entre los profesionales del derecho, creí conveniente felicitar su iniciativa. No obstante, también había un elemento de crítica, el relativo a la metodología bastante antigua y poco práctica en términos modernos (actualización, adaptabilidad, amparo informático, etc.). 1.2. Al parecer la crítica fue interpretada como algo más fuerte que la felicitación, aun cuando reitero, el citado ...


The Role Of The Law In The Availability Of Public Transit And Affordable Housing In Atlanta’S West End, Elliott Lipinsky Jan 2012

The Role Of The Law In The Availability Of Public Transit And Affordable Housing In Atlanta’S West End, Elliott Lipinsky

ELLIOTT LIPINSKY

The Federal Transit Administration (FTA) is a branch of the U.S. Department of Transportation that administers federal funds and provides technical assistance for the support of locally operated public transit systems. MARTA / Atlanta metro area are part of FTA Region IV (the Southeast). FTA would be involved, for instance, in financing the federal grant monies discussed above. But actual regulation of operations (i.e., what MARTA does each day, or what MARTA will plan to do regionally) is more closely regulated by Georgia agencies.

Until recently, the Atlanta metropolitan area had no powerful central agency to coordinate regional transit ...


Harsanyi 2.0, Matthew D. Adler Aug 2011

Harsanyi 2.0, Matthew D. Adler

Faculty Scholarship at Penn Law

How should we make interpersonal comparisons of well-being levels and differences? One branch of welfare economics eschews such comparisons, which are seen as impossible or unknowable; normative evaluation is based upon criteria such as Pareto or Kaldor-Hicks efficiency that require no interpersonal comparability. A different branch of welfare economics, for example optimal tax theory, uses “social welfare functions” (SWFs) to compare social states and governmental policies. Interpersonally comparable utility numbers provide the input for SWFs. But this scholarly tradition has never adequately explained the basis for these numbers.

John Harsanyi, in his work on so-called “extended preferences,” advanced a fruitful ...


Collective Choice, Justin Schwartz Jan 2011

Collective Choice, Justin Schwartz

Justin Schwartz

This short nontechnical article reviews the Arrow Impossibility Theorem and its implications for rational democratic decisionmaking. In the 1950s, economist Kenneth J. Arrow proved that no method for producing a unique social choice involving at least three choices and three actors could satisfy four seemingly obvious constraints that are practically constitutive of democratic decisionmaking. Any such method must violate such a constraint and risks leading to disturbingly irrational results such and Condorcet cycling. I explain the theorem in plain, nonmathematical language, and discuss the history, range, and prospects of avoiding what seems like a fundamental theoretical challenge to the possibility ...


The Insignificance Of Proxy Access, Marcel Kahan, Edward B. Rock Jan 2011

The Insignificance Of Proxy Access, Marcel Kahan, Edward B. Rock

Faculty Scholarship at Penn Law

No abstract provided.


Corrupção E Judiciário: A (In)Eficácia Do Sistema Judicial No Combate À Corrupção, Ivo T. Gico Jr., Carlos H. R. De Alencar Dec 2010

Corrupção E Judiciário: A (In)Eficácia Do Sistema Judicial No Combate À Corrupção, Ivo T. Gico Jr., Carlos H. R. De Alencar

Ivo Teixeira Gico Jr.

HÁ UMA PERCEPÇÃO GENERALIZADA NO BRASIL DE QUE FUNCIONÁRIOS PÚBLICOS CORRUPTOS NÃO SÃO PUNIDOS. NÃO OBSTANTE, ATÉ O MOMENTO, NÃO HÁ EVIDÊNCIAS EMPÍRICAS QUE APÓIEM ESSA AFIRMAÇÃO E MUITOS ARGUMENTAM QUE SE TRATA DE UMA PERCEPÇÃO EQUIVOCADA DECORRENTE DO AUMENTO DE MEDIDAS ANTICORRUPÇÃO. UMA DAS PRINCIPAIS RAZÕES PARA ESSA NOTÁVEL AUSÊNCIA É A GRANDE DIFICULDADE DE SE IDENTIFICAR CASOS COMPROVADOS DE CORRUPÇÃO PARA, ENTÃO, SE AVERIGUAR SE ELES FORAM OU NÃO PUNIDOS PELO SISTEMA JUDICIAL. ESTE ARTIGO USA O SISTEMA BRASILEIRO DE RESPONSABILIDADE TRÍPLICE COMO UM EXPERIMENTO NATURAL PARA MEDIR O DESEMPENHO DO SISTEMA JUDICIAL CONTRA CORRUPÇÃO. NOSSOS RESULTADOS MOSTRAM ...


The Effect Of Allowing Pollution Offsets With Imperfect Enforcement, Hilary A. Sigman, Howard F. Chang Sep 2010

The Effect Of Allowing Pollution Offsets With Imperfect Enforcement, Hilary A. Sigman, Howard F. Chang

Faculty Scholarship at Penn Law

Several pollution control regimes, including climate change policies, allow polluters in one sector subject to an emissions cap to offset excessive emissions in that sector with pollution abatement in another sector. The government may often find it more costly to verify offset claims than to verify compliance with emissions caps, and concerns about difficulties in enforcement may lead regulators to restrict the use of offsets. In this paper, we demonstrate that allowing offsets may increase pollution abatement and reduce illegal pollution, even if the government has a fixed enforcement budget. We explore the circumstances that may make it preferable to ...


Testing For Adverse Selection In Insurance Markets, Alma Cohen, Peter Siegelman Dec 2009

Testing For Adverse Selection In Insurance Markets, Alma Cohen, Peter Siegelman

Peter Siegelman

This paper reviews and evaluates the empirical literature on adverse selection in insurance markets. We focus on empirical work that seeks to test the basic coverage–risk prediction of adverse selection theory—that is, that policyholders who purchase more insurance coverage tend to be riskier. The analysis of this body of work, we argue, indicates that whether such a correlation exists varies across insurance markets and pools of insurance policies. We discuss various reasons why a coverage–risk correlation may not be found in some pools of insurance policies. The presence of a coverage-risk correlation can be explained either by ...


Future Generations: A Prioritarian View, Matthew D. Adler Sep 2009

Future Generations: A Prioritarian View, Matthew D. Adler

Faculty Scholarship at Penn Law

Should we remain neutral between our interests and those of future generations? Or are we ethically permitted or even required to depart from neutrality and engage in some measure of intergenerational discounting? This Article addresses the problem of intergenerational discounting by drawing on two different intellectual traditions: the social welfare function (“SWF”) tradition in welfare economics, and scholarship on “prioritarianism” in moral philosophy. Unlike utilitarians, prioritarians are sensitive to the distribution of well-being. They give greater weight to well-being changes affecting worse-off individuals. Prioritarianism can be captured, formally, through an SWF which sums a concave transformation of individual utility, rather ...


Nonrivalry And Price Discrimination In Copyright Economics, John P. Conley, Christopher S. Yoo May 2009

Nonrivalry And Price Discrimination In Copyright Economics, John P. Conley, Christopher S. Yoo

Faculty Scholarship at Penn Law

The literature on the economics of copyright proceeds from the premise that copyrightable works constitute pure public goods, which is generally modeled by assuming that such works are nonexcludable and that the marginal cost of making additional copies is essentially zero. A close examination of the foundational literature on public goods theory reveals that the defining characteristic of public goods is instead the optimality criterion known as the “Samuelson condition,” which implies that the systematic bias toward underproduction is the result of the inability to induce consumers to reveal their preferences rather than the inability to exclude or price at ...


Reconceptualizing Trespass, Gideon Parchomovsky, Alex Stein Jan 2009

Reconceptualizing Trespass, Gideon Parchomovsky, Alex Stein

Faculty Scholarship at Penn Law

This Essay addresses an anomaly in trespass law. Trespass law is generally understood as the paradigmatic example of property-rule protection: an owner can obtain an injunction against the trespasser and have him removed from her land. The property-rule protection enjoyed by the owner protects her right to exclude others and to set the price for the use of her property. However, the property-rule protection only exists ex ante: it avails only against imminent or ongoing trespasses. Ex post, after a trespass ends, the owner can only recover compensation measured by the market value of the unauthorized use, i.e., the ...


Network Neutrality, Consumers, And Innovation, Christopher S. Yoo Aug 2008

Network Neutrality, Consumers, And Innovation, Christopher S. Yoo

Faculty Scholarship at Penn Law

In this Article, Professor Christopher Yoo directly engages claims that mandating network neutrality is essential to protect consumers and to promote innovation on the Internet. It begins by analyzing the forces that are placing pressure on the basic network architecture to evolve, such as the emergence of Internet video and peer-to-peer architectures and the increasing heterogeneity in business relationships and transmission technologies. It then draws on the insights of demand-side price discrimination (such as Ramsey pricing) and the two-sided markets, as well as the economics of product differentiation and congestion, to show how deviating from network neutrality can benefit consumers ...


Healthy Competition: What’S Holding Back Health Care And How To Free It, Michael F. Cannon Jan 2007

Healthy Competition: What’S Holding Back Health Care And How To Free It, Michael F. Cannon

Michael F. Cannon

No abstract provided.


Keeping The Internet Neutral?: Tim Wu And Christopher Yoo Debate, Tim Wu, Christopher S. Yoo Jan 2007

Keeping The Internet Neutral?: Tim Wu And Christopher Yoo Debate, Tim Wu, Christopher S. Yoo

Faculty Scholarship at Penn Law

No abstract provided.