cssi/SciSciGPT-SciSciNet huggingface dataset:
Authority, Representation, and the Contradictions of Posttraditional Governing

The social, economic, and political transformations of the last 30 years have ushered in a "posttraditional" order in which the institutions and practices of the past are no longer authoritative guides for action and thought. Human experience increasingly is conceived as something to be constructed and decided on without reliance on the authority of tradition. This essay argues that these transformations pose grave challenges to the mechanisms of political representation and administrative legitimacy because they frustrate the coherent production of both recognition of a "We the People" and the conditions for human subjectivity. In doing so, the efficacy of the conventional mechanisms of governmental authority is eroded. An alternative model of administrative practice is outlined that rests on a nonrepresentational mode of authority and a reconceptualization of democracy.
The effects of removing barriers to equity issuance

Abstract We study the consequences of a US deregulation allowing small firms to accelerate their public equity issuance. Post-deregulation, affected firms double their reliance on public equity and transition away from private investments in public equity compared to similar untreated firms. The net effect is a 5.7 percentage point or 49% increase in the annual probability of raising equity. This is accompanied by a reduction in equity issuance costs, an increase in investment, and a decrease in leverage. Our findings provide evidence that reducing equity issuance barriers benefits issuers even in highly developed markets.
Roscoe Pound and the Future of the Good Government Movement

In this, essay I revisit Roscoe Pound’s 1906 address to the American Bar Association. I first contextualize the Pound speech with an eye toward its role in inaugurating a good government movement spanning the twentieth century that sought to regulate the judiciary with explicit reference to preserving public trust and confidence in the courts. Second, I describe more recent developments growing out of the civil liberties movement that have put the future of the good government movement in doubt, by calling into question the constitutionality of state code of judicial conduct provisions that seek to promote public confidence in the courts by prohibiting judicial speech and association that create the appearance of impropriety or partiality. Third, I discuss the disqualification regime that some reformers have proposed as an antidote, wherein judges are permitted - and perhaps even encouraged - to speak their minds freely, as long as they disqualify themselves later from hearing cases in which their prior statements call their impartiality into question. I conclude that for a disqualification regime to be effective, we must return to the roots of Roscoe Pound’s good government movement and the informal norms that have long discouraged judges from publicly venting their spleens on every hot legal topic of the day. If the judiciary succeeds in conserving the longstanding norms that encourage judges to watch what they say and with whom they associate (even if they have a “right” to do otherwise), to the end of promoting public confidence in the courts - then disqualification is a viable means to remedy isolated deviations from the norm.
Enlargement and the Value of the Euro

The EMU is in the process of expanding its membership. How will the expansion affect the equilibrium or sustainable real value of the euro? What is the explanatory power of the model used to explain the equilibrium value of a synthetic euro? We then demonstrate quantitatively the dynamic effects of enlargement upon the equilibrium value of the euro under different scenarios.
"The Evolution of Employment Discrimination Law: Changed Doctrine for Changed Social Conditions "

Times change, and when they do, the law must as well. Much of the most important employment discrimination case law was established in the 1970s during an era when discrimination was both overt and pervasive. Moving forward forty years, discrimination has receded dramatically and is no longer seen as a default explanation for workplace decisions or statistical imbalances in a workforce. At the same time, the discrimination that remains is more complex, more subtle in nature and more difficult to identify. This article explores how the Supreme Court has navigated the declining but more complex nature of employment discrimination. In a series of recent cases, including the landmark sex discrimination case of Wal-Mart v. Dukes, the Supreme Court has embarked on a judicial updating of the foundation of employment discrimination law with the Court quietly announcing that the old case law no longer fits contemporary claims of discrimination. In other words, what counted as discrimination in the 1970s no longer does today. Despite the criticism the Court has received for its decisions, I conclude that the Court was right to shed its old doctrine as the inferences of discrimination that were permissible during an earlier era fail to account for our changed social conditions. The real problem with the Court’s recent updating of the doctrine is not the shedding of the old but what it has left in its place – the Supreme Court has failed to adapt its doctrine to capture the complexities of modern discrimination, thus leaving a substantial gap between what the law defines as discrimination and what we know about the difficulties of uncovering subtle discrimination. This article also critiques the recent academic emphasis on “implicit bias” and instead offers some suggestions for moving forward in a way that might better adapt the legal doctrine to the complexities of modern discrimination. This includes the use of testers to document workplace discrimination, more emphasis on educating courts and jurors regarding the nature of subtle discrimination (not implicit bias) and the role employer self-interests might play in bringing greater diversity to the workplace.
Backlash as prelude to managing managed care.

According to the conventional wisdom, the managed care backlash was interest group politics at its worst and produced bad policy. Managed care organizations (MCOs) and the private sector, so the story goes, are not perfect, but the alternative - having legislatures manage health resources and bureaucracies make health care decisions - is even worse. Over the long run, we are told, the market will ensure that MCOs deliver high quality health care. Consumers will leave poorly performing MCOs for ones that respond to their concerns. In this essay I argue that this account misses what backlash is about. Managed care is not yet as good as it gets. It will improve as it is subject to consumer pressure. Backlash is unlikely to disappear until the industry matures and thoughtful regulatory authority protects the public, and the industry from itself.
The Effect of Using the Internal Audit Function as a Management Training Ground on the External Auditor's Reliance Decision

ABSTRACT: This study examines how using the internal audit function (IAF) as a management training ground (MTG) affects external audit fees and the external auditors' perceptions of the IAF. Over half of all companies that have an IAF specifically hire internal auditors with the purpose of rotating them into management positions (or cycle current employees into the IAF for a short stint before promoting them into management positions). Using archival data, we find that external auditors charge higher fees to companies that use the IAF as a MTG. Using an experiment, we provide evidence as to why fees are higher. Specifically, we find that external auditors perceive internal auditors employed in an IAF used as a MTG to be less objective but not less competent than internal auditors employed in an IAF not used as a MTG. These results have important implications for the many companies that use their IAF as a MTG. Data Availability: Contact the authors. Data provided by the Institute of Internal Auditors Rese...
What Happens in Nevada? Self-Selecting into Lax Law

We find that Nevada, the second most popular state for out-of-state incorporations and a state with lax corporate law, attracts firms that are 30�40% more likely to report financial results that later require restatement than firms incorporated in other states, including Delaware. Our results suggest that firms favoring protections for insiders select Nevada as a corporate home, and these firms are prone to financial reporting failures. We provide some evidence that Nevada law also has a causal impact by increasing a Nevada firm's propensity to misreport financials after the firm has incorporated in Nevada.
The Impact of the NHL Lockout on County Employment

The National Hockey League (NHL) had a lockout that lasted the entire 2004-2005 season. Because this lockout cancelled the season, it provides a unique opportunity to analyze the economic impact on county employment and payroll in the sectors relevant to the sporting world. We test 3 and 4-digit NAICS codes, including Accommodation, Drinking Places, Restaurants, and Spectator Sports. Using the impact found in a county with an NHL team, relative to trends in the surrounding counties, we find no general impact on employment, but we find a decrease in payroll in some sectors.
How much does violence tax trade

Abstract We investigate the empirical effect of violence, as compared to other trade impediments, on trade flows. Our analysis is based on a panel data set with annual observations on 177 countries from 1968 to 1999, which brings together information from the Rose data set, the iterate data set for terrorist events, and data sets of external and internal conflict. We explore these data with traditional and theoretical gravity models. We calculate that, for a given country year, the presence of terrorism together with internal and external conflict is equivalent to as much as a 30% tariff on trade. This is larger than estimated tariff-equivalent costs of border and language barriers and tariff-equivalent reduction through generalized systems of preference and WTO participation.
The Effects of Length, Content, and Repetition on Television Commercial Effectiveness:

Many advertisers have argued that 15-second television commercials (:15s) should be used only to reinforce effects created by longer commercials. However, this recommendation is based on studies th...
Rater Personality, Rating Format, and Social Context: Implications for Performance Appraisal Ratings

This study investigates the effects of rater personality (Conscientiousness and Agreeableness), rating format (graphic rating scale vs. behavioral checklist), and the rating social context (face-to-face feedback vs. no face-to-face feedback) on rating elevation of performance ratings. As predicted, raters high on Agreeableness showed more elevated ratings than those low on Agreeableness when they expected to have the face-to-face feedback meeting. Furthermore, rating format moderated the relationship between Agreeableness and rating elevation, such that raters high on Agreeableness provided less elevated ratings when using the behavioral checklist than the graphic rating scale, whereas raters low on Agreeableness showed little difference in elevation across different rating formats. Results also suggest that the interactive effects of rater personality, rating format, and social context may depend on the performance level of the ratee. The implications of these findings will be discussed.
The Embarrassing Saga of New York's Derivative Right to Counsel: The Right to Counsel of Defendants Suspected of Two Unrelated Crimes

New York provides criminal defendants with a constitutional right to counsel that is more expansive than its federal equivalent. One example of this is New York's derivative right to counsel, where a defendant who is represented by counsel on one offense automatically enjoys a right to counsel in regard to different, unrelated crimes. (Defendants may sometimes derive a constitutional right to counsel from a different unrelated offense under the federal constitution as well, but New York's 'derivative right to counsel' provides greater protections.) Yet, the story of New York's 'derivative right to counsel' is the story of an intellectual failure on the part of New York's highest court - a constitutional right born of recurring bungles and misinterpretations of precedent. The result is a legal regime which excludes reliable confessions from trials for no good reason, and which favors dangerous recidivists over first time arrestees or people accused of minor crimes. The Article focuses on six leading cases shaping New York's 'derivative right to counsel': it shows how the Court misinterpreted them, and how they should be re-interpreted in order to re-shape today's confusing and harmful regime.
The FDIC as Holder in Due Course: Some Law and Economics

When a federally insured bank fails, the Federal Deposit Insurance Corporation (the "FDIC") typically intervenes to protect depositors. As part of the bailout, the FDIC undertakes the role of liquidator of the bank's assets, both physical and intangible. A bank's tangible assets consist primarily on its loan portfolio, that is, its rights to receive repayment from borrowers. A failed bank's loan portfolio is packaged with "troubled" loans, which are of doubtful collectibility for a variety of reasons. In most cases, the borrower is insolvent and simply cannot repay the loan. In other cases, the bank's right to repayment is subject to offset or reduction because the borrower has a valid defense against the bank. For example, a borrower may contend that he is relieved from his obligation to repay his loan on grounds that he lacked mental capacity to contract, or that the bank defrauded him. When the FDIC acquires a loan following a bank's failure, a borrower will assert this defense against the FDIC. This Article analyzes the governing rules under which the FDIC can acquire the power to collect the loan free of the borrower's defenses.Part II of this Article describes the FDIC's role in bank failure resolution. Part III examines the law governing the FDIC's immunity from obligors' claims and defenses. Part IV then proposes an economic framework for evaluating an immunity rule's efficiency as a loss allocation device. Part V evaluates the holder in due course rule, a familiar and analogous loss allocation rule, concluding that it is efficient. Part VI of this Article proposes a rule of immunity for the FDIC that efficiently allocates loss between borrowers and the FDIC.
Stochastic Intensity Models of Wrong Way Risk: Wrong Way CVA Need Not Exceed Independent CVA

Buyers of OTC derivatives need to be concerned about both market risk from the contract’s underlying asset and credit risk of the derivatives counterparty. Taking counterparty risk into valuation leads to Credit Value Adjustment (CVA), which is now recognized as a necessary factor in the calculation of regulatory capital. Wrong way risk occurs when the counterparty’s credit quality is correlated with the value of the derivative contract, so that the counterparty’s default risk increases just when its liability under the contract goes up. Under Basel III, required capital is increased for wrong way risk. In this article, Ghamami and Goldberg question whether that treatment is appropriate. The authors show that CVA may actually be lower than independent CVA in theory, and they provide a numerical example showing that the parameter values for this to occur in practice are not unreasonable.
A Window into the Soul of International Arbitration: Arbitrator Selection, Transparency and Stakeholder Interests

New Zealand Law Foundation International Dispute Resolution Lecture 2013, delivered at Stone Lecture Theatre, University of Auckland Faculty of Law, 26 November 2013. This essay derives from that lecture, which considers the important issue of arbitrator selection, appointment and challenge standards and procedures, and introduces the Arbitrator Intelligence project - a proposed solution for informational asymmetries that can affect the fairness of arbitrator selection and appointment.
Fall from Grace: Arming America and the Bellesiles Scandal

Before there was a scandal, there was a book-Michael A. Bellesiles's Arming America: The Origins of a National Gun Culture. In this Review, I not only discuss the book, benefiting from some of the substantial published and unpublished literature on it, but review a little of the controversy-at least the controversy as I understand it at the beginning of 2002.
Equality of Power and Fair Public Decision-Making.

Ronald Dworkin's equality of resources, and the closely related concept of envy-freeness, are two of the fundamental ideas behind fair allocation of private goods. The appropriate analog to these concepts in a public decision-making environment is unclear, since all agents consume the same "bundle" of resources (though they may have different utilities for this bundle). Drawing inspiration from equality of resources and the Dworkin quote below, we propose that equality in public decision-making should allow each agent to cause equal cost to the rest of society, which we model as equal externality. We term this equality of power. The first challenge here is that the cost to the rest of society must be measured somehow, and it is generally impossible to elicit the scale of individual utilities (in the absence of monetary payments). Again drawing inspiration from foundational literature for private goods economies, we normalize each agent's utility so that every agent's marginal utility for additional power is the same. We show that for quadratic utilities, in the large market limit, there always exists an outcome that simultaneously satisfies equal power, equal marginal utility for additional power, and social welfare maximization with respect to the normalized utilities.
Stabilizing Large Financial Institutions with Contingent Capital Certificates

The 2008–2009 financial crisis clearly indicated that government regulators are reluctant to let a large financial institution fail. In order to minimize the transfer of future losses to taxpayers or to solvent banks, we need a system for assuring that large institutions continuously maintain sufficient capital. For a variety of reasons, supervisors find it difficult to require institutions to sell new shares after they have suffered losses. This paper describes and evaluates a proposed security that converts from debt to equity automatically when the issuer’s equity ratio falls too low. “Contingent capital certificates” (CCCs) can greatly reduce the probability that a large financial firm will suffer losses in excess of its common equity, and will provide market discipline by forcing shareholders to internalize more of their assets’ poor outcomes. The proposed reliance on equity’s market value to trigger conversion creates some problems, which must be compared to the shortcomings of our current applicati...
The Right to Destroy

Do you have the right to destroy that which is yours? This paper addresses that fundamental question. In contested cases, courts are becoming increasingly hostile to owners' efforts to destroy their own valuable property. This sentiment has been echoed in the legal academy, with recent scholarship calling for further restrictions on an owner's right to destroy cultural property. Yet this property right has received little systematic attention. The paper therefore examines owners' rights to destroy various forms of property, including buildings, jewelry, transplantable organs, frozen human embryos, patents, personal papers, and works of art. A systematic treatment of the subject helps support a qualified defense of the right to destroy one's own property. For example, an examination of American laws and customs regarding the disposition of cadaveric organs helps one understand and weigh the expressive interests that prompt people to try to destroy jewelry via will. Similarly, an examination of patent suppression case law points toward a form of ex ante analysis that has been de-emphasized in opinions involving the destruction of buildings and other structures. An analysis of cases involving the destruction of frozen human embryos may shed light on creators' rights to burn unpublished manuscripts or works of art. And collectivist theories of free speech may help explain why the Visual Artists Rights Act sensibly prohibits the destruction of paintings by living artists, but not Old Masters. In advocating a more unified treatment of destruction rights, the paper argues that greater deference to owners' destructive wishes often serves important welfare and expressive interests. The paper also critiques existing case law that calls for particular hostility toward will provisions that direct the destruction of a testator's valuable property. Courts and commentators have not given particularly persuasive justifications for restricting testamentary destruction, and the paper proposes a safe-harbor provision whereby sincere testators who jump through certain hoops during their lifetimes can have their destructive wishes enforced.
Spin-offs, Divestitures, and Conglomerate Investment

We examine whether spin-offs or divestitures cause improvements in conglomerate investment efficiency. At issue are endogeneity of these restructuring decisions and correct measurement of investment efficiency. Endogeneity is a problem because the factors that induce firms to spin off or divest divisions may also improve investment efficiency; measurement error is a problem because efficiency measures employ Tobin’s q as a noisy proxy for investment opportunities. We find important differences between firms that divest or spin off and a control sample. After accounting for these differences and for measurement error in q, we find no evidence of improvements in investment efficiency.
Multi-factor Dynamic Investment under Uncertainty☆☆☆

We characterize a firm's optimal factor adjustment when any number of factors face “kinked” linear adjustment costs so that all factor accumulation is costly to reverse. We first consider a general non-stationary case with a concave operating profit function, unrestricted form of uncertainty and a horizon of arbitrary length. We show that the optimal investment strategy follows a control limit policy at each point in time. The state space of the firm's problem is partitioned into various domains, including a continuation region where no adjustment should optimally be made to factor levels. We then consider two specific model classes and exploit their special structure to derive expressions for their continuation regions.Journal of Economic LiteratureClassification Numbers: D92, E22, E24.
TRANSFORM ANALYSIS FOR POINT PROCESSES AND APPLICATIONS IN CREDIT RISK

This paper develops a formula for a transform of a vector point process with totally inaccessible arrivals. The transform is expressed in terms of a Laplace transform under an equivalent probability measure of the point process compensator. The Laplace transform of the compensator can be calculated explicitly for a wide range of model specifications, because it is analogous to the value of a simple security. The transform formula extends the computational tractability offered by extant security pricing models to a point process and its applications, which include valuation and risk management problems arising in single-name and portfolio credit risk.
Price dispersion in a market with advance-purchases

This paper examines price discrimination in a market where consumers learn their preferences over time. The products are perfect substitutesex ante, but there is horizontal differentiationex post. Air travel provides one example of such a market. In equilibrium, there is more price discrimination under duopoly than under monopoly, which is consistent with recent empirical evidence from the U.S. airline industry.
The biasing effect of the "sexually violent predator" label on legal decisions.

Abstract Public fear has driven legislation designed to identify and exclude sexual offenders from society, culminating in sexually violent predator (SVP) statutes, in which a sex offender who has served his prison sentence is hospitalized indefinitely if a jury determines that he is likely to reoffend as a result of a mental disorder. Jurors rarely vote not to commit a previously-convicted sex offender as an SVP. This study tests whether the mere label of “sexually violent predator” affects these legal decisions. Venire jurors (n = 161) were asked to decide whether an individual who had been incarcerated for 16 years should be released on parole. The individual was either labeled as a.) a sexually violent predator or b.) a convicted felon, and all other information was identical between the conditions. Jurors were over twice as likely to deny parole to the SVP compared to the felon, even though they did not consider him any more dangerous or any more likely to reoffend. Demographic variables did not moderate this finding. However, jurors' desire to ‘get revenge’ and to ‘make the offender pay’, as measured by Gerber and Jackson's (2013) Just Deserts Scale, did significantly relate to decisions to deny parole. These findings suggest that jurors' decisions in SVP hearings are driven by legally impermissible considerations, and that the mere label of “sexually violent predator” induces bias into the decision making process.
Practical Insights From an Empirical Study of Cooperative Lawyers in Wisconsin

This article reports on a study of members of the Divorce Cooperation Institute (DCI), a group of Wisconsin lawyers who use a "Cooperative" process to provide a constructive and efficient negotiation process in divorce cases. The study involved in-depth telephone interviews and several surveys of DCI members. Although DCI members use this process only in divorce cases, it can be readily adapted for other types of cases.DCI's approach generally involves an explicit process agreement at the outset, based on principles of: (1) acting civilly, (2) responding promptly to reasonable requests for information, (3) disclosing all relevant financial information, (4) obtaining joint expert opinions before obtaining individual expert opinions, (5) obtaining expert input before requesting a custody study or appointment of a guardian ad litem, and (5) good-faith negotiation sessions, including four-way sessions where appropriate, to reach fair compromises based on valid information. The study describes how Cooperative Practice differs from traditional litigation-oriented process as well as Collaborative process. DCI members report that Cooperative Practice provides greater predictability and confidence than negotiation in litigation. Unlike Collaborative Practice, in Cooperative Practice, there is no "disqualification agreement" and thus Cooperative lawyers are not disqualified from representing clients in litigation if needed. Although Cooperative lawyers use many of the same procedures as in Collaborative Practice, they report using them selectively which they believe generally produces good outcomes as efficiently as possible.The article offers recommendations for lawyers who want to incorporate Cooperative Practice into their "ADR toolbox," as well as for Cooperative and Collaborative Practitioners and ADR teachers and policymakers.
Casting and Caste-ing: Reconciling Artistic Freedom and Antidiscrimination Norms

This article examines the legality of race and sex classifications in casting announcements for actors, which are common in the film industry and have profound social consequences, yet have been entirely overlooked by legal scholars. Such announcements or breakdowns are used to channel people of color and women to low-paying, marginal roles. Title VII provides no categorical exception for this highly unusual practice - it makes no exception for race and contains only a narrow bona fide occupational qualification (BFOQ) defense with respect to sex. Divergent strands within Title VII and First Amendment law point in contradictory directions on the legality of discriminatory breakdowns. With respect to Title VII, the EEOC Guidelines opine that sex discrimination in casting may constitute a BFOQ for authenticity purposes, but this conclusion is at war with core Title VII principles. With respect to the First Amendment, the Supreme Court has held that generally applicable laws, such as Title VII, may be applied to expressive organizations without triggering heightened free speech scrutiny. Recent cases, however, created exceptions to antidiscrimination laws for the Boy Scouts and a parade group notwithstanding the aforementioned contrary precedent. I conclude that the First Amendment requires treating casting decisions with a degree of deference that Title VII would not ordinarily afford employers. But our constitutional commitment to free speech does not exact a wholesale abandonment of antidiscrimination law in this context. It can accommodate the goal of reducing the uncritical use of race/sex classifications and reserving such classifications to a subset of casting decisions in which they would demonstrably advance the narrative. Alternatively, a court might ban race/sex classifications in all breakdowns and yet recognize that the ultimate casting decision is protected by the First Amendment. This examination of casting discrimination also provides a reminder that society's tastes for certain gender conventions, such as makeup on women and the routine requirement that female actors appear in nude scenes, temper Title VII's capacious language and confine its impact. In short, there is a gap between Title VII's broad promise of equal employment opportunity and the reality of continuing differential treatment that has become naturalized and goes largely unchallenged.
BEYOND DICHOTOMY: THE CURVILINEAR RELATIONSHIP BETWEEN SOCIAL RESPONSIBILITY AND FINANCIAL PERFORMANCE

A central and contentious debate in many literatures concerns the relationship between financial and social performance. We advance this debate by measuring the financial–social performance link mutual funds that practice socially responsible investing (SRI). SRI fund managers have an array of social screening strategies from which to choose. Prior studies have not addressed this heterogeneity within SRI funds. Combining modern portfolio and stakeholder theories, we hypothesize that the financial loss borne by an SRI fund due to poor diversification is offset as social screening intensifies because better-managed and more stable firms are selected into its portfolio. We find support for this hypothesis through an empirical test on a panel of 61 SRI funds from 1972 to 2000. The results show that as the number of social screens used by an SRI fund increases, financial returns decline at first, but then rebound as the number of screens reaches a maximum. That is, we find a curvilinear relationship, suggesting that two long-competing viewpoints may be complementary. Furthermore, we find that financial performance varies with the types of social screens used. Community relations screening increased financial performance, but environmental and labor relations screening decreased financial performance. Based on our results, we suggest that literatures addressing the link between financial and social performance move toward in-depth examination of the merits of different social screening strategies, and away from the continuing debate on the financial merits of either being socially responsible or not.
Banks, Bears, and the Financial Crisis

We test whether short selling is destabilizing comparing distressed financial firms to other firms using NYSE transactions records covering 4 years including the recent financial crisis. Aggressive short-selling is sometimes destabilizing by some measures, but its impact is small, vanishes quickly, is not necessarily larger for distressed firms or during the crisis, and is accompanied by other stabilizing effects. The evidence does not validate theoretical predictions from models of destabilizing speculative or predatory trading. Aggregate short-selling is largely unrelated to market-wide investor sentiment, credit risk, and ex ante volatility. Aggressive liquidation of long positions typically has more impact than short selling. Thus, the data cannot justify the restrictions on short sales of financial stocks imposed in September 2008.
Accumulating a Portfolio of Experience: The Effect of Focal and Related Experience on Surgeon Performance

One key driver of improvement in surgical outcomes is a surgeon's prior experience. However, research notes that not all experience provides equal value for performance. How, then, should surgeons accumulate experience to improve quality outcomes? In this paper, we investigate the differential effects of focal and related (i.e., tasks similar to, but not identical to, the focal task) experience. We open up the black box of the volume-outcome relationship by going beyond just dividing experience into focal and related categories, but also considering how subtasks and context (i.e., the organization in which the work takes place) affect performance. To understand these issues, we assemble a novel data set on 71 cardiothoracic surgeons who performed more than 6,500 procedures during a period of 10 years after the introduction of a breakthrough surgical procedure. We find that, as compared to related experience, surgeon focal experience has a greater effect on surgeon performance. We also demonstrate that subtask experience has different, nonlinear performance relationships for focal and related experience. Finally, we find that focal experience is more firm specific than related experience and that nonfirm experience reduces the learning rate for both focal and related experience. We discuss implications of our findings for healthcare delivery and operations management.
Dependency and the Liberal Polity: On Martha Fineman's The Autonomy Myth

This review essay considers Martha Fineman's provocative new book, The Autonomy Myth (2004). In it, Fineman argues that popular ideology in the United States has become fixated on the myth that citizens are and should be autonomous. Yet the fact that dependency is unavoidable in any society and must be dealt with to sustain the polity, Fineman contends, gives the state the responsibility to support caretaking. Fineman surveys a range of public policies and argues that the autonomy myth has caused the United States to fail woefully in this task. She also criticizes proposals to shore up and subsidize marriage and the marital family as misguided attempts to cabin dependency issues within families. This review essay discusses the contributions that The Autonomy Myth makes, as well as assesses Fineman's normative proposals. I argue that Fineman carries her point that dependency is a condition for which a good and just polity should assume responsibility. Fineman's conceptualizing this responsibility in terms of a debt that society owes to caregivers, however, raises particular conceptual difficulties that weaken her claim for state support. In place of Fineman's framing of this issue, I suggest that the state's responsibility should be conceived as grounded in its obligation to protect its most vulnerable citizens. This alternative conceptualization, I contend, not only provides a firmer ground for the state's duty to support caretaking, it also more clearly delineates the limits of that support in a liberal society that seeks to pursue multiple goods. The essay also situates Fineman's proposal in context with competing feminist proposals for dealing with the issue of caretaking, and argues that the state should seek to support caretaking in a manner that encourages citizens to integrate these responsibilities with work in the labor market. Finally, this essay asserts that while Fineman is correct that the fact of dependency should cause the state to redirect much of its support toward caretaker-dependent relationships, this does not require the state to abandon civil recognition of relationships between adults, as Fineman would have it. Instead I argue that according legal status to relationships between adults can be one of the ways through which the state takes account of dependency.
Private Ordering In Light of the Law: Achieving Consumer Protection Through Payment Card Security Measures

A private ordering regime has developed within the payment card industry to define appropriate security practices and to monitor compliance by network participants. Market demands for trustworthy systems upon which consumers and merchants could rely provide incentives for security, which the card brands supplement by privately designed fines and sanctions imposed through contract. Although private ordering has functioned sufficiently well to make payment cards a trusted payment method, the system is not completely secure, as data security breaches continue to occur. This is not surprising, as complete security is not a feasible goal. Nevertheless, some have questioned whether additional government regulation is necessary to protect consumers. This Article explores the effects of legal intervention, including disclosure laws, on this private ordering system. It questions whether additional government intervention would enhance consumer welfare, particularly when consumers will likely bear the ultimate costs of such regulation. It recommends modifications in breach disclosure laws to eliminate individual notice requirements in favor of public notices, which may reduce costs and enhance consumer welfare. It challenges "bounty" enforcement regimes, such as FACTA, which offer little marginal benefit to consumers while substantially raising costs. It identifies practical and political problems presented by the different capacities of large and small firms to bear security costs, which are not easily solved under either private ordering or legislative approaches. Finally, it offers a set of policy issues as a possible agenda for consideration by policy makers and researchers in this domain. * Professor of Law, McGrath North Mullin & Kratz Endowed Chair in Business Law, Creighton University School of Law. ** Professor of Accounting, Creighton University College of Business Administration. The authors are grateful for comments and insights on an earlier version of this paper from participants at Economic Governance and Competition: The Pros and Cons of Private Ordering in the Shadow of the Law, held at Tilburg University, The Netherlands.
Entrenchment, governance, and the stock price reaction to sudden executive deaths

Abstract To study managerial entrenchment, I use the stock price reaction to unexpected senior executive deaths. If a highly effective manager dies unexpectedly, the stock price reaction should be negative. If, however, death removes an entrenched manager when the board would or could not, the stock price reaction should be positive. While, individually, age and tenure only weakly correlate with the stock price reaction to a sudden death, the reaction is strongly positive (6.8%) if: (1) the executive’s tenure exceeds 10 years, and (2) abnormal stock returns over the last three years are negative.
THE INFORMATION SYSTEMS PROFESSION: MYTH OR REALITY?

Much of the prior research into information systems (IS) workers has assumed that they are professionals. In this paper we examine the characteristics of IS workers, IS work and the IS workplace, and suggest that this perspective is mistaken. Drawing on the sociological theory of professions as a reference discipline we contend that IS professionalism is an inappropriate categorization, and that such a portrayal limits our understanding of IS workers and their work. We argue in this paper that a more faithful and potentially useful characterization is to view IS workers as members of an occupational group. Within this perspective, an understanding of the occupational culture, context and history of IS workers is essential to an understanding of the IS occupation. We examine and challenge some common myths regarding IS work, technology and the IS workplace. We conclude by making some recommendations for future research, which should enhance our understanding of IS workers as members of an occupation.
Social Comparisons and Life Satisfaction Across Racial and Ethnic Groups: The Effects of Status, Information and Solidarity

This paper explores the role of within group social comparisons on the life satisfaction of different racial and ethnic groups in the US. For Whites, we find that higher group income levels are associated with lower levels of life satisfaction, a result that is consistent with a preference for within group status. In contrast, life satisfaction is increasing in group income for Blacks. This result is consistent with the existence of social norms that emphasize Black solidarity. It is also consistent with an information effect in which Blacks rely on peer income levels to form expectations regarding their future prospects. We introduce a theoretical framework to help to distinguish between solidarity and information effects. Our empirical results provide strong support for the hypothesis that solidarity rather than information accounts for the positive relationship between average Black income and the subjective wellbeing of US Blacks. Finally, we consider two theories of social solidarity and find support for social salience but not social density in determining the strength of solidarity effects.
Constructions and creativity

The first principle of cognitive linguistics is to look for the origins of linguistic powers in robust mental operations not specific to language. For millennia, language science has assumed that human beings possess mental operations for unifying, combining, and merging patterns to create expressions, and that, conversely, they can analyze expressions they encounter to recognize patterns that were combined to produce them. The third section of this article reviews some of the literature concerned with these powers to combine patterns into expressions and to analyze expressions into patterns that were blended to create them. Any assumption about such a linguistic power takes out a loan on theory that must be cashed out with a non-language-specific explanation if the theory is to count as cognitive. One can stipulate to the existence of some unexplained power that is needed for linguistic performance, but that stipulation is insubstantial until it is grounded in a demonstrated non-language-specific operation. An assumption or stipulation about a linguistic power is cashed out when we locate and model the non-language-specific cognitive operations that make that linguistic power possible. The first section of this article presents the proposition that the non-language-specific mental operation that ac-counts for these linguistic powers is blending, otherwise known as conceptual integration. The second section provides a topical review of blending in specific communicative form-meaning pairs and their combination. Blending is the foundation of creativity in communication, or, more specifically, in the creation and combining of form-meaning pairs, also called “constructions.”
From Antislavery Lawyer to Chief Justice: The Remarkable but Forgotten Career of Salmon P. Chase

The name Salmon P. Chase is barely known and his career is largely forgotten. In this Article, I seek to revive his memory by tracing the arc of his career from antislavery lawyer, to antislavery politician, to Chief Justice of the United States. In addition to explaining why his is a career worth both remembering and honoring, I offer some possible reasons why his remarkable achievements have largely been forgotten.
How do shop-floor supervisors allocate their time?

Abstract A shop-floor supervisor or team leader can raise productivity either directly, by contributing on the line, or indirectly, by helping other team members via training and problem-solving. In this paper, we address the issue of how supervisors allocate their discretionary time between these two responsibilities. We model a simple sequential game under perfect information, designed to capture salient incentives of worker and supervisor. The degree of productivity increase depends on complementary inputs; in addition to the time a first-line supervisor contributes to indirect effort by helping the worker, the effort of the worker is also required. Implications of the model are tested using data on time allocations of supervisors from a Japanese automobile plant in the US. We find that the supervisory time allocations have a significant effect on productivity in this just-in-time production environment of a capital-intensive auto assembly plant. Empirical results provide evidence consistent with both selected premises and implications of the model.
Trade Liberalization and Growth: New Evidence

A new data set of on openness indicators and trade liberalization dates allows the 1995 Sachs and Warner study on the relationship between trade openness and economic growth to be extended to the 1990s. New evidence on the time paths of economic growth, physical capital investment, and openness around episodes of trade policy liberalization is also presented. Analysis based on the new data set suggests that over the 1950-98 period, countries that liberalized their trade regimes experienced average annual growth rates that were about 1.5 percentage points higher than before liberalization. Post liberalization investment rates rose 1.5-2.0 percentage points, confirming past findings that liberalization foster growth in part through its effect on physical capital accumulation. Liberalization raised the average trade to gross domestic product (GDP) ratio by roughly 5 percentage points, suggesting that trade policy liberalization did indeed raise the actual level of openness of liberalizers. However, these average effects mask large differences across countries.
Power Markets: Transferring Systematic Risk to Lottery Players

This article shows how a state could design a lottery that absorbs some of the financial market's systematic risk. Under this lottery, prizes would be positively correlated with the stock market. This lottery could be a profitable complement to existing state lotteries.
Speaker-Independent Speech Separation With Deep Attractor Network

Despite the recent success of deep learning for many speech processing tasks, single-microphone, speaker-independent speech separation remains challenging for two main reasons. The first reason is the arbitrary order of the target and masker speakers in the mixture (permutation problem), and the second is the unknown number of speakers in the mixture (output dimension problem). We propose a novel deep learning framework for speech separation that addresses both of these issues. We use a neural network to project the time-frequency representation of the mixture signal into a high-dimensional embedding space. A reference point (attractor) is created in the embedding space to represent each speaker which is defined as the centroid of the speaker in the embedding space. The time-frequency embeddings of each speaker are then forced to cluster around the corresponding attractor point which is used to determine the time-frequency assignment of the speaker. We propose three methods for finding the attractors for each source in the embedding space and compare their advantages and limitations. The objective function for the network is standard signal reconstruction error which enables end-to-end operation during both training and test phases. We evaluated our system using the Wall Street Journal dataset (WSJ0) on two and three speaker mixtures and report comparable or better performance than other state-of-the-art deep learning methods for speech separation.