bluuebunny/crossref_metadata_2025 huggingface dataset:
Anti-Authoritarian Revolt
Authors: Hockenos Paul
Published: November 2023

On December 1, 1966, the Federal Republic took a historic step into uncharted territory, one with enormous implications for the country. For the first time in the postwar era, the Social Democrats—after seventeen years in opposition—joined the Christian Democrats in the government, in a “grand coalition.” The last time that the SPD had shared power was during the Weimar Republic, and there were many who had begun to wonder whether the storied party would ever claw its way out of the opposition, the conservative clinch on the country simply too strong to break. But with the economic miracle running out of steam andWest Germany experiencing its first taste of recession, many inside as well as outside of the political establishment had grown exasperated with Ludwig Erhard, a more able economist than chancellor.
Continental Drift
Authors: Hockenos Paul
Published: November 2023

Even during the most placid stretches of the Bonn Republic, the U.S.– German relationship was never as smooth as it is sometimes portrayed in hindsight. The West German and American leaderships butted heads on a range of issues throughout the Cold War decades, from German participation in the VietnamWar to the treatment of Poland’s independent trade unionists in the 1980s.
Introduction
Authors: McMillen Sally G
Published: November 2023

Seneca Falls, New York, seems an unlikely site for a pivotal event in American history. Surrounded by beautiful, rolling farmland, the town sits alongside the Genesee Canal, only a few miles off the New York State Thruway. Waterloo lies three miles to the west and is about the same size as Seneca Falls. Several miles to the east sits the town of Auburn. But Seneca Falls, located in what today is called the Finger Lakes District of New York, is where in July 1848 five women initiated a social revolution and inaugurated the women’s movement. Except for tourists who visit the site today to pay homage to the origins of the women’s rights movement, the town is a quieter place now than it was in 1848. Seneca Falls underwent significant alterations in the early twentieth century with the widening of the Cayuga-Seneca Canal, which eliminated more than a hundred industrial and commercial buildings and sixty homes. A visitor may find it hard to imagine the radical movement and controversial issues that five women generated in this tranquil setting.
Variations 2 Choice of Active X
Authors: Migeon Barbara R
Published: November 2023

The concept of random inactivation is inherent in the Lyon hypothesis [37, 47] Based on her observations of cellular mosaicism in mice, Mary Lyon assumed that “the heteropyknotic (inactive) X-chromosome can be either paternal or maternal in origin, in different cells of the same animal” [37, p. 372] .” And , because inactivation occurs early in development, she said, “in adult life this leads to patches of cells some with one and some with the other X chromosome inactivated and hence to the mottled (mosaic)appearance characteristic of female mammals heterozygous for sex-linked color genes” [47, p. 145]. Certainly, the inactivation process is random in most female cells, although the proportions of active paternal or maternal X chromosomes vary from one individual to another or from one tissue to another, as expected by chance. Yet, the inactivation patterns are extremely nonrandom in all tissues of marsupials and in placental tissues of mice where the inactive X is always the paternal one. Therefore, another major variation on the theme of X inactivation has to do with the choice of active X.
Legal Responses to the Problem of Allocating Risk
Authors: Heinzerling Lisa , Tushnet Mark V
Published: November 2023

This chapter begins by presenting background material on the presence of risk in the environment and the workplace. One question you should keep in mind throughout this book is whether the “problem” of risk—whether allocated by contract or imposed without consent—is “big” or “small.” Why would answering that question—or, more precisely, developing some perspectives on how to answer it—matter? Perhaps because “doing something” about risks, in a world with limited political resources, may mean not doing something about something else. The chapter then presents two classic cases on workplace safety to con- sider the regulation of risk at common law and the constitutional restrictions on the power of legislatures to alter the allocation of risk in contracts between private parties. Those restrictions have now been abandoned, but the Supreme Court’s rationale for imposing them remains instructive.
Doctrinal Limits
Authors: Heinzerling Lisa , Tushnet Mark V
Published: November 2023

So far we have examined aspects of contract law that may be used to manage risk. We considered parts of contract doctrine —for example, ideas associated with “informed choice” as a predicate for imposing contractual liability—that affect the normative case for and against using contract law to allocate risk. In this chapter, we will examine other common law doctrines of criminal law and tort law that do so as well.
From Statutes to Rules
Authors: Heinzerling Lisa , Tushnet Mark V
Published: November 2023

Administrative agencies operate pursuant to, and sometimes interpret, their organic statutes. Chapter 7 examined how administrative agencies interpret their organic statutes in the course of adjudicating claims arising under such statutes, including claims of statutory violations. It also presented the test for determining how much deference such agency interpretations should receive when the agency brings a civil enforcement action (as occurs with respect to some environmental regulations) or when an individual seeks some benefits administered by the agency (as occurs in most workers’ compensation systems). In this chapter, we consider another purpose for which agencies interpret statutes—rule making—and examine the procedures by which agencies translate the substantive directives in their organic statutes into rules to govern conduct within the agency’s orbit of responsibility. We begin by providing you with some background on the development of modern administrative law.
Standard Setting: Feasibility, Health, Technology, and Trading
Authors: Heinzerling Lisa , Tushnet Mark V
Published: November 2023

The preceding chapter introduced a “market-based” regulatory technique— information provision—designed to increase the likelihood that consumers and other affected persons will know enough to demand a “price” for being subjected to risk that maximizes their self-designated welfare. This chapter turns to another regulatory technique—mandatory performance standards that re- quire risk producers to stay below specfied levels. It examines several different performance measures that are found in contemporary law and their respective advantages and disadvantages. The chapter concludes with a discussion of how regulated entities can implement and achieve performance standards.
Introduction
Authors: Tannen Deborah
Published: November 2023

This is a book about conversational style. I use this term to refer to aspects of talk that have been examined and analyzed by scholars who study the language of everyday interaction, but that are also apparent to many nonscholars who are people watchers by nature. As Erving Goffman (1959, 1967) amply documented, when people talk they communicate not only information but also images of themselves. Furthermore, as demonstrated by the work of John Gumperz (1982b) and others, many of the elements of how people talk, which seem self- evidently appropriate to the speaker, in fact differ from one person to the next and from one group to the next.
Irony and Joking
Authors: Tannen Deborah
Published: November 2023

One of the most distinctive aspects of any person’s style is the use of humor. Through intonation, pace, voice quality, and nonverbal signals, a speaker can frame an utterance or string of utterances as “not meant literally.” Such stylized usage can range from sarcasm (in which the intent is not humorous, and often hostile), to irony (which might elicit a smile or chuckle), to a joke, in which the main purpose is to entertain. Close examination of the use of irony and joking by members of the Thanksgiving group (there were few instances of sarcasm) contributes further insights into their styles.
Dual Inheritance TheoryThe Evolution of Cultural Capacities and Cultural Evolution
Authors: Henrich Natalie , Henrich Joseph
Published: November 2023

Since the rise of human sociobiology in the 1970s, culture and biology or cultural explanations and evolutionary explanations have often been opposed, and the seeming opposition between the categories has led to a great deal of unnecessary dispute and debate. This dichotomy and its associated debates are now outmoded and unproductive. A wide range of human behaviors that most people would think of as purely cultural (dress, greetings, food taboos, etc.) are actually 100 percent cultural and 100 percent genetic. Many behaviors are cultural in that they are socially learned by observation and interaction in a social group—social learning can then be understood as the foundational capacity that underpins what is typically glossed as “Culture”. All culturally acquired behaviors, beliefs, preferences, strategies, and practices (hereafter, we refer to all these collectively as “cultural traits”) are also genetic in the sense that their acquisition requires brain machinery that allows for substantial amounts of complex, high-fidelity social learning. We know that there must be “human genes ” that somehow allow for culturally acquired behavior, as chimpanzees reared (enculturated) alongside human children do not acquire anything approaching adult human behavioral patterns or social norms. Interestingly, although human-reared chimpanzees seem to acquire little from their human
Reparations Future, Realistic Reparations, and Models of Reparations
Authors: Brophy Alfred L
Published: November 2023

American democracy is a most dramatic form of social organization, and in that drama each of us enacts his role by asserting his own and his group’s values and traditions against those of his fellow citizens. Indeed, a battle-royal conflict of interests appears to be basic to our conception of freedom, and the drama of democracy proceeds through a warfare of words and symbolic actions by which we seek to advance our private interests while resolving our political differences.
Introduction
Authors: Shefrin Hersh
Published: November 2023

Wall Street Week with Louis Rukeyser panelist Frank Cappiello once explained that because of a "change in psychology," but "no change in fundamentals," he altered his stance on the market from positive to neutral. Cappiello has plenty of company. The popular financial press regularly quotes experts and gurus on market psychology. But what do these experts and gurus mean? The stock answer is, "greed and fear." Well, is that it? Is that all there is to market psychology? Hardly. Our knowledge of market psychology now extends well beyond greed and fear. Over the last twenty-five years, psychologists have discovered two important facts. First, the primary emotions that determine risk-taking behavior are not greed and fear, but hope and fear, as psychologist Lola Lopes pointed out in 1987. Second, although to err is indeed human, financial practitioners of all types, from portfolio managers to corporate executives, make the same mistakes repeatedly. The cause of these errors is documented in an important collection edited by psychologists Daniel Kahneman, Paul Slovic, and the late Amos Tversky that was published in 1982.
Heuristic-Driven Bias: The First Theme
Authors: Shefrin Hersh
Published: November 2023

The dictionary definition for the word heuristic refers to the process by which people find things out for themselves, usually by trial and error. Trial and error often leads people to develop rules of thumb, but this process often leads to other errors. One of the great advances of behavioral psychology is the identification of the principles underlying these rules of thumb and the systematic errors associated with them. In tum, these rules of thumb have themselves come to be called heuristics.
Picking Stocks to Beat the Market
Authors: Shefrin Hersh
Published: November 2023

Either market efficiency is an illusion or mispricing is an illusion. In a landmark article, Eugene Fama (1970) argued that financial markets are efficient. Market efficiency holds that unexploited profit opportunities do not lie around for very long, just as a S20 bill does not lie for long on a crowded sidewalk.
The Money Management Industry: Framing Effects, Style "Diversification," and Regret
Authors: Shefrin Hersh
Published: November 2023

Racing funds with an active money manager is typically a bad bet. Yet institutions continue to hire active money managers. Why? The short answer is that the individuals who serve on institutional investment committees exhibit frame dependence and heuristic-driven bias. When it comes to framing, committee members tend to think of portfolios as a series of mental accounts, with associated reference points known as benchmarks. Therefore, committee members tend to mistake variety in manager "styles" for true diversification. In addition, reference-point thinking leads people to give opportunity costs less weight than out-of-pocket costs of the same magnitude.
IPOs: Initial Underpricing, Long-term Underperformance, and "Hot-Issue" Markets
Authors: Shefrin Hersh
Published: November 2023

Many investors have experienced an !PO-adrenaline rush on the first trading day as they search for the "next Microsoft." In the case of Internet stocks, the editor of one IPO newsletter has described investor activity as "insanity.com trading." There are three behavioral phenomena associated with initial pub lic offerings (IPOs). These have been termed (1) initial underpricing, (2) long-term underperformance,and (3) "hot-issue" market. Before explaining what each of these terms means, let me note that there are three main parties to IPOs: the issuing firm, the underwriter, and investors. Al though the role of all parties in the three phenomena is discussed, the emphasis is on the role of investors.
The Standard Model and the Original Understanding
Authors: Tushnet Mark V
Published: November 2023

George W. Bush’s victory in 2000 was also a victory for gun-rights proponents and for originalists. Bush’s attorney general John Ashcroft took office with an agenda that included changing the Department of Justice’s position on the Second Amendment. To this end, Ashcroft charged the Office of Legal Counsel (OLC), which acts as the attorney general’s lawyer, with the task of producing a comprehensive analysis of the Second Amendment. Stephen Bradbury, formerly a law clerk to Justice Clarence Thomas and later nominated to head OLC after the turmoil occasioned by the release of the so-called Torture Memos, took on the job of producing the memorandum. The 106-page document stated its conclusion on its cover: ‘‘The Second Amendment secures a right of individuals generally, not a right of State or a right restricted to persons serving in militias.’’ The OLC memorandum on the Second Amendment, which helps shape the government’s position in gun cases, can serve as our guide to the Second Amend- ment’s meaning.
The African Roots of Colonial America
Authors: Horton James Oliver , Horton Lois E
Published: November 2023

Just before dawn on a spring morning in 1806, thirteen-year-old Anta Majigeen Njaay was asleep when men on horseback, their long, braided hair flying out behind them, charged into her prosperous West African village in Senegambia, just south of the Sahara Desert. Anta awoke to the terrifying sounds of battle, and by the end of the morning, these frightening men had killed her father, several of her uncles, and many of the village’s other men. The invaders were warrior slaves, the special armed force of Amari Ngoone Ndella Kumba, king of Kajor, a coastal kingdom that had risen to power in Senegambia during the eighteenth century, carved out of the old Wolof empire of Jolof. Their job protecting Kajor and its ruler extended to raiding enemy villages and delivering valuable goods to the king. They also took prisoners to be traded to European slave dealers in return for fine fabrics, wines, and weapons. Occasionally, when too few enemies were available for slaves, they raided villages like Anta’s, villages supposedly under the king’s protection. By noon on the day of the raid, the soldiers had packed up looted goods and rounded up captives, including Anta, her mother, many of her other relatives, and the family servants. Slave traders cared little whether the captives were slaves, free artisans, or nobility like Anta, who was descended from the founder of the Jolof Empire and whose large Njaay family had provided generations of rulers.
A Hard-Won Freedom: From Civil War Contraband to Emancipation
Authors: Horton James Oliver , Horton Lois E
Published: November 2023

At 7:05 in the morning on October 17, 1859, an emergency message flashed over the telegraph lines. The passenger train traveling east out of Virginia toward Baltimore had made an unscheduled stop at Monocacy, Maryland, across the river from Harpers Ferry. The conductor sent an alarm: “My train eastbound was stopped at Harpers Ferry this morning about 1:30 by armed abolitionists—They say they have come to free the slaves.” John Brown’s raid on Harpers Ferry, Virginia, was under way. Harpers Ferry, a village of three thousand people situated at the confluence of the Potomac and Shenandoah rivers, had been home to one of two national armories since George Washington’s presidency. Brown and his raiders had come for the guns and ammunition produced and stored in this arsenal. They planned to free slaves in the area, arm them with pikes and guns, then march their gathered army toward the mountains, liberating slaves as they went. This action, Brown believed, would spearhead a general slave uprising.
Prologue
Authors: White G Edward
Published: November 2023

The ninetieth-birthday address the old man sat in his favorite chair in his study. he had a shock of white hair, a long white mustache that flared up at the ends, and piercing eyes that gave him a fierce expression. The year was 1931, and most men favored collars with the ends folded down, hut he wore an old-fashioned type with the ends turned up and the tie visible, wrapped around his neck. He also wore an outmoded long coat with a vest. He had gotten dressed up to speak on the radio.
The of Practical Struggle Life: Becoming a Lawyer and a Judge
Authors: White G Edward
Published: November 2023

“If i survive the war,” holmes had written in his autobio graphical sketch for the 1861 Harvard class album, “I expect to study law as my profession or at least for a starting point.”1 The phrase reflected more than a young person’s uncertainty about the future. In 1861 many of Holmes’s contemporaries simply studied law as “a starting point” to something else. It was common in the eighteenth and nineteenth centuries for men-not womento study law as part of their general education. Law was an established profession by the time Wendell Holmes entered Harvard Law School in 1864, hut it was also a gentlemanly pursuit.
A More More Important and Visible Court
Authors: White G Edward
Published: November 2023

In 1901, as holmes turned sixty and anticipated his third year as chief justice of the SupremeJudicial Court of Massachusetts, a series of events began to unfold that resulted in his appointment to the Supreme Court of the United States. During the previous year Justice Horace Gray of the Supreme Court, the half-brother of Holmes’s friend]ohn Gray, had developed an illness that made his retirement from the Court at the end of its term that June a possibility. For most of the years of the Supreme Court’s existence, geography has played an important part in appointments. For the first two-thirds of the nineteenth century the Court met only briefly in Washington, D.C., and for the rest of the year the justices traveled on “circuits” around the country-each circuit consisting of several states-and decided appeals from the federal district courts that were assigned to their circuit.
The Yan Kee From Olympus
Authors: White G Edward
Published: November 2023

When felix frankfurter first made contact with holmes, he had been living in Washington for a year. His residence was a large house on 19th Street owned by Robert Grosvenor Valentine, the commissioner oflndian affairs during the presidency of William Howard Taft. Valentine’s house, known as the House of Truth by its residents, became a political and intellectual gathering place for progressive thinkers in the years before and during World War I. Frankfurter and his associates were involved in and keenly concerned with Washington politics and larger issues of policymaking, and they thought of themselves as political reformers. They invited public officials and other dignitaries, including Holmes, to the House of Truth. Holmes, in turn, invited Frankfurter to visit him at his home, and the two began to correspond. On March 8, 1912, Holmes turned seventy-one, and Frankfurter wrote him a birthday note.
Introduction
Authors: Novak Barbara
Published: November 2023

As Ciaran Benson has observed, the idea of self is of course an artificial construct, and definitions of self, however sophisticated, are varied, depending on the perimeters of the disciplines that seek to engage them, be they philosophy, psychology, sociology, religion, anthropology, or areas of literary or visual history. Just as I would hesitate to attempt a single paragraph defining art, I am reluctant to attempt a single definition of self, which clearly also involves matters of identity and consciousness. Yet the word is common enough even in everyday usage for a cultural community to agree, to some extent, on a kind of consensus. There is something within every human being that we commonly call a “self.” Loss of that self is generally considered a grievous wound. Its willing surrender, on the other hand, can be considered, in religious and philosophical terms, a blessed arrival at another state of being. In some instances the idea of self is conflated with the idea of soul.
Emerson and Lane: Luminist Time and the Transcendental Aboriginal Self
Authors: Novak Barbara
Published: November 2023

We cannot consider the self in America without Emerson. He made himself, in so many ways, the American self incarnate. Yet as Perry Miller long ago suggested, “To take Emerson literally is often hazardous.” The man who wrote “a foolish consistency is the hobgoblin of little minds “ gives each of us the opportunity to see whatever we wish to see in him. Sacvan Bercovitch also rightly noted that the public Emerson does not reveal the struggles with self that we find in the Journals: “The Emersonian night of the soul rarely occurs in the open, and never involves the struggle with an external foe. Publicly, the dawn is forever radiant with hope. The struggle takes place in private, in journals, in notebooks, sometimes in letters andmarginalia.”
Homer and James: The Pragmatic Self Made Concrete
Authors: Novak Barbara
Published: November 2023

Winslow Homer and William James were practitioners of the pragmatic self, which, as James formulated it, stressed the immediate experience and looked for concrete results. Both New Englanders came to adulthood in a post-Darwinian moment that had fundamentally changed the world they encountered. Though vastly different in temperament, their interests coincided briefly when James was starting out. James had an early urge to become a painter (fig. 5.1), studying with William Morris Hunt in Newport around 1860. Five years later he was on a biological expedition with Louis Agassiz, Darwin’s main American antagonist. He must have known several members of Agassiz’s wide circle, which included the painter Albert Bierstadt and Agassiz’s friend and colleague in The Saturday Club, the ubiquitous Emerson—a friend also of William’s father, Henry James Senior. William, as we know, went on to formulate Pragmatism into a leading American philosophy, though his Varieties of Religious Experience and his later interest in spiritual and psychic phenomena left room for a sense of spirit sadly diminished by Darwin’s advent.
The Problem with Politics
Authors: Bouton Terry
Published: November 2023

It was one thing to lay out an agenda for reform; it was quite another to make meaningful change happen. Reform-minded Pennsylvanians would soon discover that there was a big difference between dreaming up ideas like the Plan and getting politicians to enact them into law. Along the way, they discovered a gulf between “the people” as an abstraction and a majority mobilized to take power. In short, they found out that, even in a democracy, just because the majority of the public shared common ideals did not mean those beliefs would become the law of the land.
The Molecular Basis of Oral-Facial-Digital Type I (OFDI) Syndrome
Authors: Franco Brunella
Published: November 2023

Oral-facial-digital type I (OFDI) syndrome is an X-linked dominant male-lethal disorder and belongs to the heterogeneous group of developmental disorders known as oral-facial-digital syndromes (OFDS). OFDI displays malformations of the face, oral cavity, and digits, which are also found in other forms of OFDS. Additional features are represented by central nervous system (CNS) abnormalities and cystic kidney that are specific to OFDI. After the cloning of the responsible gene, named OFDI, diagnostic tools are available thus allowing molecular diagnosis for this disorder. Functional studies have recently demonstrated that OFD1 is required for primary cilia formation and left–right asymmetry, thus ascribing OFDI to the growing number of genetic disorders due to primary ciliary dysfunction.
The Act of State Doctrine
Authors: Mccaffrey Stephen C , Main Thomas O
Published: November 2023

This chapter introduces a doctrine developed chiefly by courts in the United States (although less robust versions of it have been applied in other common law countries, as well). The act of state doctrine precludes the courts of one country from examining the validity of acts of the governments of other countries taken in their own territories. The doctrine is consistent with the themes introduced in the previous chapter because it demonstrates a respect for sovereign acts and promotes international comity. However, the act of state doctrine leads neither to abstention nor immunity. Rather, the doctrine provides a binding rule of decision, precluding the parties from challenging the validity of certain acts of a foreign sovereign.
Service of Process
Authors: Mccaffrey Stephen C , Main Thomas O
Published: November 2023

Service of process is among the most fundamental litigation procedures. In one form or another, every legal system in the world has some method of notifying the defendant of the filling of the suit:
Choice of Law
Authors: Mccaffrey Stephen C , Main Thomas O
Published: November 2023

Choice of law is a discipline that seeks to determine the application of law when the administration of justice requires a choice between two or more systems of law. European lawyers tend to use the term “Private International Law” to refer to this field, whereas American lawyers are more familiar with the term “Conflict of Laws.” Ironically, the common American term was coined by seventeenth-century Dutch scholars and Joseph Story, an American, is often credited for the European term.
Emergencies, Tradeoffs, and Deference
Authors: Posner Eric A , vermeule Adrian
Published: November 2023

In this chapter, we lay out two basic views of the relationship between constitutional law and emergencies: a civil libertarian view, which typically advocates robust judicial review of governmental decision making in times of emergency, and our view, which advocates strong judicial and legislative deference to government decision making in times of emergency.We articulate a tradeoff thesis about security and liberty; defend the tradeoff thesis against critiques; and articulate the deference thesis, which complements the tradeoff thesis by claiming that judges and legislators should defer to government’s balancing of security and liberty during emergencies. For the most part, we focus on judicial deference, although we bring in legislators later in the chapter and elsewhere. Our larger aims are to clarify our premises and the limits of our project and to indicate the line of argument we will take in later chapters.
The Democratic Failure Theory
Authors: Posner Eric A , vermeule Adrian
Published: November 2023

In this chapter, we consider a central theme of the civil libertarian view of emergencies. The argument is that malfunctions in the political system will cause emergency policies to systematically harm the interests of political, ethnic, or ideological minorities. Of course, in a partially majoritarian democracy, minorities will often lose. Yet those who advance this argument have something more specific in mind. Self-interested majorities will cause government policy to provide too much security, relative to an impartial baseline somehow defined, because those majorities do not bear the full costs of increased security. Rather, democratic majorities partially externalize the costs of increased security onto minorities. “[A]s almost always happens, the individuals whose rights are sacrificed are not those who make the laws, but minorities, dissidents and noncitizens. In those circumstances,’we’ are making a decision to sacrifice ‘their’ rights—not a very prudent way to balance the competing interests.” We dub this view and its variants the democratic failure theory.
How Big Is the Angel Capital Market?
Authors: Shane Scott A
Published: November 2023

How many angels are there? How much do they invest? How many companies get angel capital? These are important questions to entrepreneurs seeking capital, the angels providing it, and the policy makers hoping to marry the two. The good news is that we have answers to these questions. The bad news is that there’s no shortage of answers to them, and the answers don’t come close to agreeing. For example, estimates of numbers of companies receiving angel investments every year are as low as 15,000 and as high 700,000; estimates of the number of people who make angel investments are as low as 100,000 and as high as 3 million; and estimates of the amount of money that angels invest every year are as low as $20 billion and as high as $150 billion. Therefore, many of the reported statistics on angel investing—whether they are on the number of ﬁrms receiving angel investments, the number of angel investors, or the amount that angels invest—are incorrect by a very large order of magnitude. The question is: which ones are correct?
How Many Companies Need Angels?
Authors: Shane Scott A
Published: November 2023

A common story about angel investing goes something like this. Angels are a special breed of investor who provides the risk capital that start-up companies use to transition between founder and friends-and-family money, and venture capital funds. The role of angels in ﬁlling this capital gap is crucial to economic growth because no other source of capital is available to companies making this transition, and the companies making this transition are vital contributors to the economic development of our country. Because many more companies need angel capital than can get it, the shortfall of angel capital holds back economic growth and hurts society.
How Does the Angel Investment Process Work?
Authors: Shane Scott A
Published: November 2023

Business angels ﬁnance only some of the companies they could potentially invest in. So understanding how angels learn about deals and why and how they select some for further investigation and funding is important for entrepreneurs, angels, and policy makers. Knowing the patterns in the angel investment process helps entrepreneurs to raise money, angels to make investment decisions efﬁciently and effectively, and policy makers to make good policy. While many authors have provided descriptions of the angel investment process, the standard discussion is airbrushed to show that angel investors are careful decision makers who make wise choices about which companies are worthy of their investment of time and money. Unfortunately, this description doesn’t reﬂect the reality of how the angel investment process actually works. This chapter describes the angel investment process like it really is. Rather than recounting the stories told by the angels and the experts who often rationalize a very messy process, it relies on the evidence. And the picture it presents is very different from what you may have read elsewhere. To see what I mean, take a look at the data.
How Do the Best Angels Invest?
Authors: Shane Scott A
Published: November 2023

As with most types of investing, performance at angel investing is highly skewed—a few people make almost all the money. And this pattern is what makes most discussions of angel investing uninformative. The standard approach is so focused on glorifying business angels that it misses this essential point and draws its advice and conclusions without differentiating the best investors from the average. Of course, as you by now realize, the typical angel is not a good role model. Just like most investors in the stock market, most angels are ill informed, and they pay the price for that ignorance in terms of inferior ﬁnancial returns. So following what the typical angel does will lead you down the road to poor performance. However, once you accept the fact that most business angels are nothing special and do nothing special, you can learn what it takes to be a successful angel investor. By paying attention to the differences between the professional investors and the fools, you can identify the key parameters for ﬁnancially successful angel investing.
What Makes a Place Good for Angel Investing?
Authors: Shane Scott A
Published: November 2023

If you’re an entrepreneur looking for someone to make an angel investment in your new company, or you’re an angel looking to make those investments yourself, or you’re a policy maker seeking to use angel investing to drive the growth of your local economy, you need to know if the characteristics of the local environment affect the odds that companies will receive these investments. Some places might be better suited than others for companies to raise external equity and you need to know whether your locale is favorable or unfavorable to this type of ﬁnance.
Conclusions
Authors: Shane Scott A
Published: November 2023

If you have read this far in the book, you realize that only a small portion of angels make money investing in private companies and that the typical angel is far from the wise investor in the next generation of superstar companies that many observers make him out to be. Unfortunately, you’d never know that from reading the multitude of cheerleading books and articles on angel investing. These sources overstate the amount of angel investing that occurs, the sophistication of that activity, the performance of investors at it, and its impact on the economy. While this cheerleading effort is uplifting—it makes angels feel good, leads entrepreneurs to respect and admire angels, and causes policy makers to view angel investors as a valuable resource for transforming economies into entrepreneurial powerhouses—it isn’t very useful.
Introduction
Authors: Michaud Richard O , Michaud Robert O
Published: November 2023

Markowitz (1959) mean-variance (MV) efficiency is the classic paradigm of modern finance for efficiently allocating capital among risky assets. Given estimates of expected return, standard deviation or variance, and correlation of return for a set of assets, MV efficiency provides the investor with an exact prescription for optimal allocation of capital. The Markowitz efficient frontier (Exhibit 1.1) represents all efficient portfolios in the sense that all other portfolios have less expected return for a given level of risk or, equivalently, more risk for a given level of expected return. In this framework, the variance or standard deviation of return denes portfolio risk. MV efficiency considers not only the risk and return of securities, but also their interrelationships.
The Resampled Efficient Frontier™
Authors: Michaud Richard O , Michaud Robert O
Published: November 2023

This chapter introduces Resampled Efficient Frontier (REF) optimization, a generalization of linear constrained Markowitz MV portfolio optimization that includes uncertainty in investment information in the optimization process.1 Monte Carlo resampling methods are used to more realistically condition investment information in the optimization. REF optimality avoids the literal use of investment information characteristic of classical MV and other portfolio optimization methods. Under practical assumptions, REF optimization is provably effective at improving linear constrained risk-adjusted portfolio return on average.2 REF optimality typically leads to a more effective level of diversification and risk management than previously available. The resampling process also allows customization of the optimization process relative to investment mandates, objectives, strategies, and information character.
Toxic Tactics and Terrors
Authors: Lockwood Jeffrey A
Published: November 2023

Stinging insects proved decisive in ending many sieges and battles, but few military historians know that a war was started by a bee.1 In 637 ce, a ran-corous fellow named Congal, heir to the throne of Ulster, was paying a state visit to the king of Ireland and his family. Domnall, the Irish king, was a gracious host, except for one small oversight: he failed to put adequate distance between his beehives and his guests. As fate would have it, Congal was stung in the eye by an errant bee. If it had just been painful perhaps the offense could have been forgiven, but Congal was blinded. To add insult to injury, he was given the nickname “Caech,” meaning “one-eye,” after the incident. Enraged by their patriarch’s being blinded and called a cyclops, Congal’s kin demanded retribution. In keeping with the notion of “an eye for an eye,” they demanded that one of Domnall’s sons be blinded. Domnall was not keen on this solution and tried a less drastic punishment in hope of appeasing Congal. The king ordered the destruction of the entire colony of bees to ensure that the guilty insect would be killed.
Insects as Tools of Torture
Authors: Lockwood Jeffrey A
Published: November 2023

The ancient Persians were perhaps the earliest people to use insects as torture devices. The gruesome practice of subjecting a condemned man to “the boats” was given the technical term scaphism (based on the Greek skaphe, from which we get the word “skiff,” meaning a small, flat-bottomed boat).1 The victim was initially force-fed milk and honey to induce severe diarrhea. Then the poor soul was stripped, lashed to a skiff (or hollowed out tree trunk) so that his head, hands, and feet protruded over the sides, smeared with honey, and set adrift on a stagnant pond or simply left in the sun. Wasps attracted to the honey delivered excruciating stings, but the coup de grâce came with the insects drawn to the feces accumulating in the boat. Flies would breed in the filth and then begin laying eggs in the victim’s anus and increasingly gangrenous flesh. Although the misery could be prolonged by providing the victim with continuing allotments of milk and honey, the condemned would eventually succumb to septic shock associated with being infested with maggots.
The Big Itch
Authors: Lockwood Jeffrey A
Published: November 2023

Better dead than Red. The western mantra of the 1950s. And people meant it. With this sort of sociopolitical view, it is little wonder that the U.S. military pursued every conceivable means of defeating the soulless communists—even conscripting insects as unwitting patriots. After all, if entomological weapons based on bungled Japanese science had killed nearly half a million people, just think what an advanced nation might be able to do with these creatures. Or imagine what a technologically sophisticated foe might accomplish. With the Soviet Union detonating an atomic bomb in 1949, Cold War anxiety paved the way for a series of incredible experiments in the name of protecting democracy.
Distributive Justice: Equality, Entitlement, and Merit
Authors: Sandel Michael J
Published: November 2023

John Rawls and Robert Nozick both reject utilitarianism. Both believe that certain individual rights are so fundamental that utilitarian considerations should not override them. But they disagree about what rights are fundamental. For Nozick and other libertarians, people have a right to the money they earn in a free market; it is unjust to tax their earnings to help those who have less. Rawls disagrees. He does not believe that the results of a free market are necessarily fair.
Very Long Text the Reality of the EULA
Authors: Phillips Douglas E
Published: November 2023

an article in uncyclopedia (“the content-free encyclopedia that anyone can edit”) provides the best practical description of the software license.1 The article defines “license” as “a synonym for very long text.” It adds, “Another synonym for license is legalese or lawyer-readable code.” Although rarely considered in legal analysis, the sheer impenetrability of license text is highly pertinent.

Defenders of the proprietary end user license agreement argue that the EULA promotes—and indeed is essential for—efficiency.2 According to this argument, the transaction costs to software providers would be far too high if separate licenses were negotiated with every user. The argument assumes, however, that any kind of license is required. As discussed in Chapter 2, software is not “intangible,” and the software, not the license, is the product. Licenses remain an option, but there is reason to believe that EULAs as they exist today actually reduce efficiency. They do this by creating a legal regime that is known to and understood (more or less) by the software provider but that is effectively hidden from the user. In other words, the license is the problem.

Contract law imposes a “duty to read” in the sense that not having read a contract is not a defense to its enforcement.3 And standard-form contracts are nothing new. An official comment to the Restatement (Second) of Contracts, issued nearly thirty years ago, frankly acknowledges that “[a] party who makes regular use of a standardized form of agreement does not ordinarily expect his customers to understand or even to read the standard terms.”4 Vendors use standard-form agreements “to eliminate bargaining over details of individual transactions, and that purpose would not be served.
GPL A Private Copyleft Act
Authors: Phillips Douglas E
Published: November 2023

Compared to the complexity and variability of EULAs, the Copyright Act is a model of simplicity and uniformity. If the software provider instead wishes to permit the use of an unlimited number of copies and the unrestricted transfer of copies, copyright law proides an even simpler concept. This concept is dedication of works to the public domain.
Follies with Girlfriends
Authors: Frankel Noralee
Published: November 2023

During the Follies run ain Chicago in early 1937, Gypsy appeared eleven times in the show, not because of her extraordinary ability, Gypsy maintained, but because fewer performers were cheaper. Gypsy performed in five comedic sketches with Bobby Clark. In his sketches, Clark played the lecher, with oversized glasses that he drew on his face. In a satire on the New Deal, Gypsy acted as Clark’s secretary at the Federal Spending Administration. She also played a sexy nurse and an older woman in a skit in a satire on a popular show, Major Bowes’ Amateur Hour. In a Baby Snooks scene, Gypsy acted as Fanny Brice’s mother. Before the first act’s finale, Gypsy performed a striptease. Those “appearances, along with both finales, kept me moving,” Gypsy complained wearily.

While starring in the Follies, Gypsy cemented two deep friendships, with Fanny Brice, an older star, and June Havoc, her younger sister. Gypsy cherished her close women friends. She rebelled against her mother, who discouraged her daughter’s friendships and even set up a virulent competition between Louise and June.
Finding the Body
Authors: Frankel Noralee
Published: November 2023

Finding dead bodies scattered all over a burlesque theater isn’t the sort of thing you’re likely to forget. Not quickly, anyway,” begins The G-String Murders. “It’s the little things, incidents that don’t seem important when they happen, that slip your mind. With me, for instance. As long as I live, I’ll remember seeing that bloated bluish face, the twisted, naked body, and the glitter of a G-string, hanging like an earring from the swollen neck.”

After returning to New York City in 1939, Gypsy decided to write a mystery novel, The G-String Murders. “People think that just because you’re a stripper you don’t have much else except a body. They don’t credit you with intelligence,” she later complained. “Maybe that’s why I write.” Gypsy worked as hard on her writing as her stripping, and The G-String Murders became a best seller.
Do Bits Benefit Developing Countries?
Authors: Rose-Ackerman Susan , Tobin Jennifer L
Published: November 2023

Bilateral Investment Treaties (BITs) are instruments of growing importance as emerging economies seek to attract foreign investment. BITs offer protection to foreign direct investment (FDI), and many observers claim that this protection helps attract investment flows to developing countries, which in turn leads to economic development. Developing countries hope that the treaties signal to foreign investors either a strong protective investment environment or a commitment that foreign investment will be protected through international enforcement of the treaty in spite of weaknesses in domestic law.
Fact-Finding in the Fog: Determining the Facts of Upheavals and Wars in Inter-State Disputes
Authors: Crook John R
Published: November 2023

Should they pause to reflect, most international lawyers would likely accept the thought that the science and art of deciding legal disputes involves at least three inter-related components. The first two involve determining the relevant law and the relevant facts. Then comes stage three—applying the law to the facts. The first two steps are iterative in nature. The relevant law will depend on the facts, and the relevant facts will depend on the relevant law. As Hardy Dillard observed, “in important cases, the problem is not merely one of ferreting out facts but of identifying those that are both relevant and significant—a process entailing value-laden assumptions which determine criteria of discrimination.” But lawyers are familiar with this iterative process and generally work through it without difficulty.
Our Choice
Authors: O’Neill Philip D
Published: November 2023

Benjamin Franklin observed that “they that can give up essential liberty to obtain a little temporary safety deserve neither liberty nor safety.” Today, citizens may question that simple judgment when millions of their voices can be forever silenced instantly in a nuclear flash. The legal struggle was and remains that of balancing rights and accountability. In fact, the intrusive surveillance of the Executive Branch has worked to produce timely intelligence. Our safety has been enhanced. At the same time, that surveillance has been conducted with little or no accountability. To the public, the lack of oversight has been at best disquieting and at worst unlawful. Our representatives belatedly seek to restore checks and balances in this domain. The task of assuring adequate intelligence to guarantee a people’s security, while preserving fundamental rights to privacy, speech, and association, as well as other basic freedoms of our society, is one of ongoing difficulty. Striking the proper balance between effectiveness and oversight is a critical legal challenge in this Age of Insecurity.