the economics of contract law

... letterman may be the man of the present, but the man of the future is the man of statistics and the master of economics.’ Justice O W Holmes (1897) Trang 13One branch of the economics of law is concerned ... explained is the bedrock of the Coase Theorem and the economics of law The Coase Theorem The Coase Theorem states that in the absence of transactions costs the legal position does not affect the effi ... This branch of the economic approach to the law is often seen as synonymous with the analysis of the common law – judge-made law on contract, property and tort (the area of the common law that deals

Ngày tải lên: 07/07/2014, 18:21

... repayment, the creditor needs to audit the debtor and seize thedebtor’s remaining funds In the free cash-flow theory of Jensen (1986), debt serves to pump cash out of thefirm and out of the reach of ... bankruptcy law defines the division of the value of thebankrupted corporation between the debtor and its creditors that maximizes thevalue of the corporation before bankruptcy In the ex-ante ... in the case of bank distress that wouldallow for efficient reorganization and closure of these institutions in order to limittheir impact and protect the safety of the system Since the onset of

Ngày tải lên: 01/11/2014, 16:28

... by the contract than by any of the other mutually exclusive alternatives of conduct  The contract establishes the future behavior of the contracting parties 28 The Principles of European Contract ... on the core of Contract Law, or if one prefers, the traditional area of this field of the Law Thus, the discussion in the remainder of this book will be organized around the two main tasks of Contract ... set of issues behind this question, and the set of responses to it, are also of particular interest to Law, and Contract Law more specifically Contract Law is the most ostensible area of the Law

Ngày tải lên: 03/02/2017, 10:46

... challenge to the mainstream treatment of the subject of law and order in the field of political philosophy, they may be seen as less applicable to the parallel investigations in the field of economics ... all of the processes mentioned earlier, hence making the topic of the vol-untary, contractual provision of law and order all the more significant It is also likely that the unfolding of these ... costs for the producer, whereas in the case of non-excludable goods the social gains, including the gains of the free riders, outweigh the private gains of the producer, which undermines the incentive

Ngày tải lên: 06/01/2020, 10:13

... Allof these forces motivate parties to comply with the obligations of internationallaw, just as they provide persons who make contracts an incentive to honorthem In the field of contract law, the ... 38(1)(d) of the Statute of the International Court of Justice refers to “the teachings of the most highly qualified publicists of the various nations, as subsidiary means for the determination of rules ... institutions ofglobal governance and expanding the reach of international law Athens Declaration on the Signing of the Treaty of Accession on the Enlargement of the European Union, April 16, 2003 Recently,

Ngày tải lên: 30/03/2020, 19:50

... residents of the poor municipality, education spending for the residents of the poor municipality, other public goods for the residents of the poor municipality, and all other goods for all the other ... have examined a thesis entitled Essays in the Economics of Education Trang 7Essays in the Economics of Education A thesis presented by Nora Elizabeth Gordon to the Department of Economics in ... rightward by the amount of the Title I grant, the state spends only a fraction on aid to the poor municipality In the second panel of the figure, the poor municipality divides its budget between other

Ngày tải lên: 07/03/2014, 02:20

... '8The risk estimate for each cell is the mean risk among observations in the cell The tange of the confidence interval for the mean will vary inversely with the square root of the number of ... is the height-weight-risk surface itself, of which the contour map is but one of the many possible ways of representing it However, a diagram that shows the contour levels of the surface together ... Trang 3THE UNIVERSITY OF CHICAGO THE ECONOMICS OF NUTRITION, BODY BUILD, AND HEALTH: WAALER SURFACES AND PHYSICAL HUMAN CAPITAL A DISSERTATION SUBMITTED TO THE FACULTY OF THE DIVISION OF THE SOCIAL

Ngày tải lên: 07/03/2014, 02:20

... in the United States.’ Emst R Bemdt is professor of applied economics at the Sloan School of Management at the Massachusetts Institute of Technology Linda T Bui is assistant professor of economics ... is assistant professor of economics at Vanderbilt University Glen L Urban is professor of marketing and dean of the Sloan School of Management at the Massachusetts Institute of Technology ... and marketing behavior of the manufacturers, the sales and market shares they attained, and the data sources underlying these statistics 7.3 Overview of the Data Most of the data used in this

Ngày tải lên: 07/03/2014, 08:20

... the  time  profile  of  net  e‐float  needs,  while  maintaining the security of their operations.         18   The  commission  amounts  are  non‐linear  (and  concave)  in  the  size  of  the  ... Since the launch of M‐PESA in March 2007, wary of regulation by the Central Bank of Kenya, Safaricom  has been at pains to stress that M‐PESA is not a bank.  On the other hand, the ubiquity of the cell phone  across  both  urban  and  rural  parts  of  the  ... exception of radio) were relatively slow to diffuse through the population, whereas those introduced in  the  second  half  of  the  century  saw  generally  steeper  adoption  rates.    Nonetheless,  the  speed  of  adoption of cell‐phones, especially in the developing world, remains unprecedented. 

Ngày tải lên: 08/03/2014, 06:20

... examines the evidence on the economic impacts of climate change itself, and explores the economics of stabilising greenhouse gases in the atmosphere The second half of the Review considers the complex ... Chancellor of the Exchequer, reporting to both the Chancellor and to the Prime Minister, as a contribution to assessing the evidence and building understanding of the economics of climate change The ... effect on the climate over the next 40 or 50 years On the other hand what we do in the next 10 or 20 years can have a profound effect on the climate in the second half of this century and in the next

Ngày tải lên: 08/03/2014, 06:20

... (following the Modigliani-Miller theorem) Because the value of the claims that belong to the initial debt holders is unchanged, the value of the equity of the initial shareholders remains the same ... fact, the pie is bigger because of the proceeds of the new equity issue—but because the debt holders receive more of the pie To make the restructuring acceptable to shareholders, the value of the ... basis The remaining debt is a fraction (1 – α) of the initial debt The gains of the remaining debt holders are (1 – α) of the gains of all the initial debt holders Thus, the transfer by the government

Ngày tải lên: 15/03/2014, 10:20

... a wide range of issues, including the reasons for the growinguse of IPRs; the impact of the strengthening of IPRs on innovation; the role of IPRs in develop-ing countries; whether there is a need ... Policy, the Economics of Innovation and New Technology, the Cambridge Journal of Economics, the Journal of Evolutionary Economics and Structural Change and Economic Dynamics, the Journal of Technology ... Professor of Economics at the University of Canterbury, NewZealand With an interest in all aspects of applied micro-economic theory, he has concen-trated particularly on the economic theory of

Ngày tải lên: 17/03/2014, 06:20

... firms; the profits of other firms are taxed as part of the personal income of their owners The computation of the corporate income tax liability of a firm follows a number of rules ... sales of cars The political effects of. .. transition from one equilibrium to the other 16 Part I The Effects of Taxation The theory of tax incidence aims at characterizing the ... the last thirty years While these taxes were the main resource of governments until the nineteenth century, they now constitute only 12 percent of the tax revenue in the OECD The

Ngày tải lên: 23/03/2014, 11:20

... a means ofsaving money A Strategy Va c u u m ? Yet, given the harsh reality of ‘the politics of HE’ and the voting power ofthe better-off, the White Paper proposals may yet run into the sand,leaving ... for the Economics of Education http://cee.lse.ac.uk/publications.htm) goes further and answers in the mative the question posed in the title of the study: ‘It seems that thehuman capital of graduates ... cap of £3K pa, there will bescope to offer bursaries/book-grants/etc to some of the HEI’s poorer stu-dents: this seems nạve in the context of the economics of US HE, and notleast allowing for the

Ngày tải lên: 23/03/2014, 20:20

... is professor of economics at the University of Mannheim and a research associate of the National Bureau of Economic Research Vassilis Hajivassiliou is an associate professor of economics in the ... Department of Economics and a member of the Cowles Foundation for Economic Research, Yale University Laurence J Kotlikoff is professor of economics at Bos- ton University and a research associate of the ... remarkable is the decreasing but still very high proportion of the el- derly living independently in spite of the very old age of most of the elderly in the sample Approximately one out of every six

Ngày tải lên: 28/03/2014, 16:20

... Commercial Uses of the Internet The size of the market, judged by the number of agents or domain names, is growing rapidly on the Internet. The growth rate in the number of Internet hosts ... All these mechanisms depend on the neutrality and trustworthiness of the parties who provide the supposedly objective information. The neutrality of these parties is often in doubt, or otherwise ... Science Foundation and the program managers, Drs. Su Shing Chen and Les Gasser, and the support from the Information Technology Program of the State of Texas. The Economics of Electronic Commerce...

Ngày tải lên: 18/10/2013, 11:15

... and the Economics of Security presents the latest research on the economics driving both the risks and the solutions. These chapters represent some of the best, cutting-edge research within the ... than 20 percent of the number of payments processed in the EU), the focus of the analysis is mainly on the euro area: the above-mentioned 10 euro area countries in the survey together process ... Third, in the majority of the 15 countries, the role of nonbanks for payment cards is high or prevalent in many of the activities considered. This is probably due to the high automation of the pre-transaction...

Ngày tải lên: 18/10/2013, 17:15

... of analogical reasoning, the court compares the relative strength of two sets of facts – the facts of the precedent case and the facts of a new case now under consideration. If the facts of the ... that the ratio sets out the factors that ground the reason(s) in favor of the result: the later court must determine the strength of the reason in favor of the result in the precedent on the basis ... precedents can be seen as the reverse of expansion of precedents on the basis of similarity: here, the court limits the effect of precedents on the basis of dissimilarity. The process of distinguishing precedents...

Ngày tải lên: 01/11/2013, 08:20

... feature of the 1994 reference to the aim of ‘optimal use of the world’s resources’ as opposed to the 1947 objective for the use of the ‘full resources of the world’. References to human rights and the ... historic importance of the ending of the division of the European continent and the need to create firm bases for the construction of the future Europe 50 The passionate sources of personal moral ... models of law and norms are characteristic of what people often mean when they use the word ‘globalisation’. 251 The return of universalist law 172 See Rajagopal, International Law, ch. 4, on the...

Ngày tải lên: 01/11/2013, 08:20

... on the - How does it influence on the economics of Viet Nam? economics of Viet Nam? 1. Positive influence 1. Positive influence : : - To give the government opportunities to mobilize the ... fears of inflation is rising. The economists forecast CPI will continue to increase in the last months. It is more accelerating inflation. 3. The situation of Viet Nam ‘s 3. The situation of ... in Viet Nam -> Finally, the real investors are the disadvantaged. Part 02: How does it influence on the economics of Viet Nam? Part 01: Talk about the state of trading shares on Viet...

Ngày tải lên: 07/01/2014, 11:13