WorldCat Identities

John M. Olin Center for Law, Economics, and Business

Overview
Works: 468 works in 647 publications in 1 language and 2,223 library holdings
Genres: Periodicals  Law reviews  History 
Classifications: HB1, 340
Publication Timeline
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Most widely held works by John M. Olin Center for Law, Economics, and Business
The journal of legal analysis by Economics, and Business John M. Olin Center for Law( )

in English and held by 424 WorldCat member libraries worldwide

Transition policy : a conceptual framework by Louis Kaplow( Book )

2 editions published in 2003 in English and held by 28 WorldCat member libraries worldwide

Discusses policies on legal transitions--the period between the enactment of a law, announcement of a regulation, change of a government rule, etc., and its implementation, which may be retroactive, effective immediately or later, and may include phase-in, grandfathering, or other special provisions
Discussion paper( )

in English and held by 17 WorldCat member libraries worldwide

Corporate ownership structures : private versus social optimality by Lucian A Bebchuk( Book )

1 edition published in 1996 in English and held by 9 WorldCat member libraries worldwide

This paper analyzes the inefficiencies that might arise in the ownership structure chosen at the initial public offering stage. We show that, contrary to what is commonly believed, the desire of initial owners to maximize their proceeds leads them to choices that, although privately optimal, may be socially inefficient. This distortion tends to be in the direction of excessive incidence of controlling shareholder structures and excessive divestment of cash flow rights. Our analysis has far-reaching policy implications for dual class stock, stock pyramiding, sale of control rules, and public offerings of minority shares. Among its positive implications, our analysis suggests reasons for the substantial differences in the incidence of control blocks across different countries
Agency law and contract formation by Eric Rasmusen( Book )

3 editions published in 2001 in English and held by 7 WorldCat member libraries worldwide

The market for federal judicial law clerks by Christopher Avery( Book )

2 editions published in 2001 in English and held by 7 WorldCat member libraries worldwide

Managerial power and rent extraction in the design of executive compensation by Lucian A Bebchuk( Book )

1 edition published in 2002 in English and held by 7 WorldCat member libraries worldwide

This paper develops an account of the role and significance of managerial power and rent extraction in executive compensation. Under the optimal contracting approach to executive compensation, which has dominated academic re-search on the subject, pay arrangements are set by a board of directors that aims to maximize shareholder value. In contrast, the managerial power approach suggests that boards do not operate at arm's length in devising executive compensation arrangements; rather, executives have power to influence their own pay, and they use that power to extract rents. Furthermore, the desire to camouflage rent extraction might lead to the use of inefficient pay arrangements that provide suboptimal incentives and thereby hurt shareholder value. The authors show that the processes that produce compensation arrangements, and the various market forces and constraints that act on these processes, leave managers with considerable power to shape their own pay arrangements. Examining the large body of empirical work on executive compensation, the authors show that managerial power and the desire to camouflage rents can explain significant features of the executive compensation landscape, including ones that have long been viewed as puzzling or problematic from the optimal contracting perspective. The authors conclude that the role managerial power plays in the design of executive compensation is significant and should be taken into account in any examination of executive pay arrangements or of corporate governance generally
Economic analysis of the general structure of the law by Steven Shavell( Book )

2 editions published in 2003 in English and held by 7 WorldCat member libraries worldwide

This paper contains a chapter on the general structure of the law from a forthcoming book, Foundations of Economic Analysis of Law (Harvard University Press, 2003). In this chapter, I consider basic features of the legal system, including whether the law directly constrains behavior or channels it by the threat of sanctions, and whether the law is brought into play by private legal action or involves public enforcement. I investigate the conditions under which one or another structure of law will be socially desirable, and I then discuss tort, contract, criminal law, and several other areas of law in the light of the analysis of the optimal structure of the law
Federal intervention to enhance shareholder choice by Lucian A Bebchuk( Book )

2 editions published in 2001 in English and held by 6 WorldCat member libraries worldwide

A response to an article, "Choice and federal intervention in corporate law," by Stephen J. Choi and Andrew T. Guzman (Virginia Law Review), which criticized an earlier article by Bebchuk and Ferrell, "A new approach to takeover law and regulatory competition" (Virginia Law Review, vol. 87, no. 1, p. 111-164)
Property rights and indigenous tradition among early 20th century Japanese firms by Yoshirō Miwa( Book )

1 edition published in 2001 in English and held by 6 WorldCat member libraries worldwide

Ex ante costs of violating absolute priority in bankruptcy by Lucian A Bebchuk( Book )

1 edition published in 2001 in English and held by 6 WorldCat member libraries worldwide

Abstract: A basic question for the design of bankruptcy law concerns whether value should be divided in accordance with absolute priority. Research done in the past decade has suggested that deviations from absolute priority have beneficial ex ante effects. In contrast, this paper shows that ex post deviations from absolute priority also have negative effects on ex ante decisions taken by shareholders. Such deviations aggravate the moral hazard problem with respect to project choice - increasing the equityholders' incentive to favor risky projects - as well as with respect to borrowing and dividend decisions
Directed credit? : capital market competition in high-growth Japan by Yoshirō Miwa( Book )

2 editions published in 2001 in English and held by 6 WorldCat member libraries worldwide

The value of a statistical life and the coefficient of relative risk aversions by Louis Kaplow( Book )

2 editions published in 2003 in English and held by 6 WorldCat member libraries worldwide

Individuals' risk preferences are estimated and employed in a variety of settings, notably including choices in financial, labor, and product markets. Recent work, especially in financial economics, provides estimates of individuals' coefficients of relative risk aversion (CRRA's) in excess of one, and often significantly higher. However, it can be shown that high CRRA's imply equally high values for the income elasticity of the value of a statistical life. Yet estimates of this elasticity, derived from labor and product markets, are in the range of 0.5 to 0.6. Furthermore, it turns out that even a CRRA below one is difficult to reconcile with these elasticity estimates. Thus, there appears to be an important (additional) anomaly involving individuals' risk-taking behavior in different market settings
Who appoints them, what do they do? : evidence on outside directors from Japan by Yoshirō Miwa( Book )

2 editions published in 2002 in English and held by 6 WorldCat member libraries worldwide

Public goods and the distribution of income by Louis Kaplow( Book )

2 editions published in 2003 in English and held by 6 WorldCat member libraries worldwide

This article addresses conceptual issues concerning the distributive incidence of public goods. Solutions depend on the specific purposes for asking the question of distributive incidence notably, assessing the extent to which various public goods should be provided, determining how the provision of public goods affects the desirability of income redistribution, and providing a meaningful description of the distribution of well-being. In the course of the analysis, a simple and intuitive version of the benefit principle of taxation (qualitatively different from those commonly advanced in pertinent literatures) is presented, and some of the problems confronting empirical attempts to measure the distributive incidence of public goods are resolved
Toward an economic theory of pro-defendant criminal procedure by Keith N Hylton( Book )

2 editions published in 2001 in English and held by 6 WorldCat member libraries worldwide

A new approach to valuing secured claims in bankruptcy by Lucian A Bebchuk( Book )

3 editions published in 2001 in English and held by 6 WorldCat member libraries worldwide

The National Bureau of Economic Research, Inc. presents an abstract of the May 2001 working paper entitled "A New Approach to Valuing Secured Claims in Bankruptcy," written by Lucian Arye Bebchuk and Jesse M. Fried. The full text of the paper may be purchased online. This paper develops a new approach to valuing collateral that does not involve bargaining or litigation. A market-based mechanism determines the value of collateral in such a way that no participant in the bankruptcy will have a basis for complaining that secured creditors are either over- or under-compensated
The fable of the keiretsu : urban legends of the Japanese economy by Yoshirō Miwa( Book )

2 editions published in 2001 in English and held by 6 WorldCat member libraries worldwide

"For Western economists and journalists, the most distinctive facet of the postwar Japanese business world has been the keiretsu, or the insular business alliances among powerful corporations. Within keiretsu groups, argue these observers, firms preferentially trade, lend money, take and receive technical and financial assistance, and cement their ties through cross-shareholding agreements. In The Fable of the Keiretsu, Yoshiro Miwa and J. Mark Ramseyer demonstrate that all this talk is really just urban legend." "Following World War II, the United States, in an effort to hasten democracy, dissolved Japan's zaibatsu empires - a small group of enormous family-owned conglomerates - into several smaller businesses. The new businesses, the legend goes, formed into keiretsu groups to regain large components of their operations that were lost in the dismantling. The authors show that the very idea of the keiretsu was created and propagated by Marxist scholars in post-war Japan. Western scholars merely repatriated the legend to show the culturally contingent nature of modern economic analysis." "Laying waste to the notion of keiretsu, the authors debunk several related "facts" as well: that Japanese firms maintain special arrangements with a "main bank," that firms are systematically poorly managed, and that the Japanese government guided postwar growth. In demolishing these long-held assumptions, they offer one of the few reliable chronicles of the realities of Japanese business."--Jacket
Debiasing through law by Christine M Jolls( Book )

2 editions published in 2004 in English and held by 5 WorldCat member libraries worldwide

"Human beings are often boundedly rational. In the face of bounded rationality, the legal system might attempt either to?debias law,? by insulating legal outcomes from the effects of boundedly rational behavior, or instead to?debias through law,? by steering legal actors in more rational directions. Legal analysts have focused most heavily on insulating outcomes from the effects of bounded rationality. In fact, however, a large number of actual and imaginable legal strategies are efforts to engage in debiasing through law -- to help people reduce or even eliminate boundedly rational behavior. In important contexts, these efforts promise to avoid the costs and inefficiencies associated with regulatory approaches that take bounded rationality as a given and respond by attempting to insulate outcomes from its effects. This Article offers both a general theory of debiasing through law and a description of how such debiasing does or could work to address central legal questions in a large number of domains, from employment law to consumer safety law to corporate law to property law. Discussion is devoted to the risks of overshooting and manipulation that are sometimes raised when government engages in debiasing through law"--John M. Olin Center for Law, Economics, and Business web site
The real difference in corporate law between the United States and continental Europe : distribution of powers by Sofie Cools( Book )

3 editions published between 2004 and 2005 in English and held by 5 WorldCat member libraries worldwide

Discusses: (Part I) The index measuring investor protection in the paper "Law and finance" by Rafael La Porta (et al.)(1996, rev. 1998), and: (Parts II-III) compares the distribution of powers in corporations in the United States and western Europe
 
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Alternative Names

controlled identityHarvard Law School. Program in Law and Economics

Harvard Law School. Center for Law, Economics, and Business

Harvard Law School. John M. Olin Center for Law, Economics, and Business

Law School John M. Olin Center for Law, Economics, and Business

Olin Center for Law, Economics, and Business

Languages
English (44)