cssi/SciSciGPT-SciSciNet huggingface dataset:
Leaving No Child Behind (Except in States That Don't Do as We Say): Connecticut's Challenge to the Federal Government's Power to Control State Education Policy Through the Spending Clause

The No Child Left Behind Act of 2001 ("NCLB") conditions the states' receipt of federal education funds on, among other things, the creation of testing schemes for elementary school students and the posting of test results. Although NCLB threatens the states' constitutional power to set education policy, two provisions of the law could potentially alleviate this threat: (1) an "unfunded mandates" provision prohibiting federal officers from requiring the states to spend funds not provided by NCLB, and (2) a provision allowing the U.S. Secretary of Education (the "Secretary") to waive provisions of NCLB at a state's request. These provisions, however, have not circumscribed the federal government's role to the satisfaction of some states, prompting Connecticut, a state whose own policies conflict with NCLB's testing requirements, to file the first state NCLB lawsuit against the federal government. This Note argues that Connecticut's claims that the Secretary's administration of these two provisions violates the Spending Clause are valid. This Note then focuses on the Spending Clause's prohibition of conditions that require a state to violate any other provision of the Constitution, arguing that NCLB, as it is currently administered by the Secretary, may force Connecticut and other states to violate the Equal Protection Clause.
Laws, Sausages, and Bailouts: Testing the Populist View of the Causes of the Economic Crisis

While the lingering economic crisis has drawn much attention to individual products and private sector villains thought to have caused the market meltdown, a pointed study of the full range of government causes (and their attendant depth) has to date proven less attractive to authors and critics. It is now axiomatic - even among the financial survivors and victors of the crisis - that Wall Street fell victim to an unprecedented myopia. It is equally accepted that regulation was flawed, but the exact degree to which any one public sector can be blamed has, like the corresponding remedies that languished for so long in Congress, been seemingly postponed until a consensus can be reached on the ultimate means of ending the downturn. Moreover, such a direct allocation of culpability may just be a condition precedent to our economy’s recovery. Mindful of the pressing need for such resolute finger-pointing, this Article seeks to provide a cross-boundary analysis of the statutes, initiatives, cases, agency decisions, and regulatory reporting lines that either paved the way or aggravated the economic crisis of 2007-2010.Accordingly, the Article seeks to test postulates of blame in four distinct categories: the enactments of the federal legislature, the decisions by the federal judiciary, the mortgage policy of the Department of Housing and Urban Development (HUD) (as steered by the White House), and the actions/omissions by the Securities and Exchange Commission. To that end, this Article identifies the popular wisdom concerning the culpability of each government sector, locates predating trends in the underlying "law," and compares the two for a variance.
The incentives leading up to the 2008 financial crisis

There are many events that led up to the financial crisis of 2008. This study looks at the political policies in place before the crisis happened. Focusing on the decade and a half prior to the crisis, the incentives in the financial industry led to risk mitigation. This response to mitigate risk explains, at least in part, a reason why there was a boom in the Collateralised Debt Obligations (CDO) and Mortgage-Backed Securities (MBS) markets in the years leading up to the crisis.
Corporate governance and dividend policy in emerging markets

Abstract In a sample of 365 firms from 19 countries, I show that firms with stronger corporate governance have higher dividend payouts, consistent with agency models of dividends. In addition, the negative relationship between dividend payouts and growth opportunities is stronger among firms with better governance. I also show that firms with stronger governance are more profitable, but that greater profitability explains only part of the higher dividend payouts. The positive relationship between corporate governance and dividend payouts is limited primarily to countries with strong investor protection, suggesting that firm-level corporate governance and country-level investor protection are complements rather than substitutes.
The influence of religiosity on charitable behavior: A COPPS investigation

Abstract We examine the role of religion in charitable giving and find that the religious preference of both the donor and the recipient organization influence giving behavior. By exploiting a panel survey of charitable giving, we demonstrate that traditional empirical analysis on charitable giving masks important differences among donor groups. Religious giving by religious individuals is least responsive to changes in price and income, while secular giving by secular individuals has the greatest sensitivity.
Ignorance is Not Bliss: Financial Illiteracy, the Mortgage Market Collapse, and the Global Economic Crisis

The global economic crisis occurred, in part, because of a long standing, far-reaching problem in America: millions of people – both young and old – are financially illiterate. While financial illiteracy was not, of course, the sole cause of the economic crisis, its role was significant, and it has received too little attention up to this point. This article examines the poor state of financial literacy in America and analyzes how the financial illiteracy of millions of homebuyers contributed to the collapse of the housing market and helped spark the economic crisis. It reviews and evaluates the ongoing efforts – by both the government and the private sector – to tackle the issue. The article concludes by providing practical recommendations to help government policy makers and private financial literacy advocates address the financial illiteracy problem.
Imposing structure on linear programming problems: an empirical analysis of expert and novice models

Research on expert-novice differences falls into two complementary classes. The first assumes that novice skills are a subset of those of the expert, represented by the same vocabulary of concepts. The second approach emphasizes novices' misconceptions and the different meanings they tend to attribute to concepts. Our evidence, based on observations of problem solving behavior of experts and novices in the area of mathematical programming, reveals both type of differences: while novices are to some extent underdeveloped experts, they also attribute different meanings to concepts. The research suggests that experts' concepts can be characterized as being more differentiated than those of novices, where the differentiation enables experts to categorize problem descriptions accurately into standard archetypes and facilitates attribution of correct meanings to problem features. Our results are based on twenty-five protocols obtained from experts and novices attempting to structure problem descriptions into mathematical programming models. We have developed a model of knowledge in the LP domain that accommodates a continuum of expertise ranging from that of the expert who has a highly specialized vocabulary of LP concepts to that of a novice whose vocabulary might be limited to high school algebra. We discuss the normative implications of this model for pedagogical strategies employed by instructors, textbooks and intelligent tutoring systems.
Is Fertility the Unspoken Issue in the Debate Between Liberal and Conservative Family Values

In two recent books, Linda McClain, The Place of Families: Fostering Capacity, Equality, and Responsibility (2006), and James Q. Wilson, The Marriage Problem: How Our Culture Has Weakened Families (2002), lay out the respective positions in the opposing family values that divide the United States. Wilson maintains that family well-being rests on the foundation of a strong cultural commitment to marriage, while McClain articulates liberal feminist values that require equality within and among families. This article maintains that delayed childbearing, not marriage or equality, holds the key to the new middle-class morality and discusses the prospects for family law pragmatism in an era of values polarization.
A method of enhancing the detection sensitivity of transient sources in time series with Gaussian stationary noise

The Gaussian phase noise of intensity time series is demonstrated to be drastically reduced when the raw voltage data are digitally filtered through an arbitrarily large number $n$ of orthornormal bandpass profiles (eigen-filters) sharing the same intensity bandwidth, and the resulting intensity series are co-added. Specifically, the relative noise variance of the summed series at the resolution of one coherence time or less, goes down with increasing $n$ as $1/n$, although (consistent with the radiometer equation) the advantage gradually disappears when the series is bin averaged to lower resolution. Thus the algorithm is designed to enhance the sensitivity of detecting transients that are smoothed out by time averaging and too faint to be visible in the noisy unaveraged time series, as demonstrated by the simulation of a weak embedded time varying signal of either a periodic nature or a fast and unrepeated pulse. The algorithm is then applied to a 10 minute observation of the pulsar PSR 1937+21 by the VLA, where the theoretical predictions were verified by the data. Moreover, it is shown that microstructures within the time profile are better defined as the number $n$ of filters used increases, and a periodic signal of period $1.86 \times 10^{-5}$~s ($53.9$~kHz) is discovered in the pulse profile. Lastly, we apply the algorithm to the first binary black hole merger detected by LIGO, GW150914. We find the SNR of the mean peak intensity increases as $\sqrt{n}$ and cross correlation of the event between the LIGO-Hanford-Livingston detector pair increases with filter order $n$.
Timing options for a startup with early termination and competition risks

This paper analyzes the timing options embedded in a startup firm, and the associated market entry and exit timing decisions under the exogenous risks of early termination and competitor's entry. Our valuation approach leads to the analytical study of a non-standard perpetual American installment option nested with an optimal sequential stopping problem. Explicit formulas are derived for the firm's value functions. Analytically and numerically, we show that early termination risk leads to earlier voluntary entry or exit, and the threat of competition has a non-trivial effect on the firm's entry and abandonment strategies.
X-Ray Photoabsorption in KLL Resonances of O VI and Abundance Analysis

It is shown that photoabsorption via autoionizing resonances may be appreciable and used for abundance analysis. Analogous to spectral lines, the "resonance oscillator strength" r may be defined and evaluated in terms of the differential oscillator strength df/d that relates bound and continuum absorption. X-ray photoabsorption in KLL (1s2s2p) resonances of O VI is investigated using highly resolved relativistic photoionization cross sections with fine structure. It is found that r is comparable to that for UV dipole transition in O VI (2s-2p) and the X-ray (1s2 1S0-1s2p 1P) transition in O VII. The dominant O VI (KLL) components lie at 22.05 and 21.87 A. These predicted absorption features should be detectable by the Chandra X-Ray Observatory and the X-Ray Multimirror Mission. The combined UV/X-ray spectra of O VI/O VII should yield valuable information on the ionization structure and abundances in sources such as the "warm absorber" region of active galactic nuclei and the hot intergalactic medium. Some general implications of resonant photoabsorption are addressed.
Over-Disciplining Students, Racial Bias, and the School-to-Prison Pipeline

Over the last three decades, our nation has witnessed a dramatic change regarding how schools discipline children for disruptive behavior. Empirical evidence during this time period demonstrates that schools increasingly have relied on extreme forms of punishment such as suspensions, expulsions, referrals to law enforcement, and school-based arrests to discipline students for violations of school rules. For example, from the 1972–73 school year to the 2009–10 school year, the number of students expelled or suspended from secondary schools increased from one in thirteen to one in nine. 1 Between 1974 and 2012, the number of out-of-school suspensions increased nationally from 1.7 million to 3.45 million. 2 There is also substantial evidence that referrals to law enforcement and school-based arrests have significantly increased in recent years. 3 The U.S. Department of Education‘s Of-
Repeat Sales House Price Index Methodology

We compare four traditional repeat sales indices to a recently developed autoregressive index that makes use of the repeat sales methodology but incorporates single sales and a location effect. Qua...
Equity Issuances, Equity Mutual Fund Flows, and Noise Trader Sentiment

We examine whether equity issuances initial public offerings (IPOs) and seasoned equity offerings (SEOs) are in part driven by investor sentiment by using equity mutual fund flows to proxy for the rational and/or irrational components of aggregate demand for equity. We find that more firms issue equity when flows are higher and repurchase equity when flows are lower. More firms file with the Securities Exchange Commission when predicted flows in the expected issuance month are greater. Price revisions are positively related to contemporaneous flows and unexpected flows. Initial returns are positively related to contemporaneous flows only for IPO issuances. These results are driven by retail, and not institutional, flows. Our evidence suggests that investor sentiment partially drives equity issuances.
Lattices and Lotteries in Apportioning Risk

Although risk aversion has been used in economic models for over 275 years, the past few decades have shown how higher order risk attitudes are also quite important. A behavioural approach to defining such risk attitudes was developed by Eeckhoudt and Schlesinger, based on simple lottery preference. This article shows how the mathematics of lattice theory can be used to model these lottery preferences. In addition to modelling a simple lattice structure, I show how such lattices can be extended in order to develop a better understanding of higher order risk attitudes.
The internationalization of venture capital and private equity

This paper investigates the internationalization of venture capital (VC) and private equity (PE) investments. We derive flows between countries of VC and PE investments worldwide, relying on comprehensive firm-level data sources, covering three decades and about 100 countries. A gravity analysis indicates that distance, common language, and colonial ties are significant factors in directing these flows. Additionally, the presence of high-end human capital, a better business environment, high levels of military expenditure, and deeper financial markets are important local factors that attract international venture capital. There is also evidence of path dependency and persistence in VC and PE flows, indicating network effects and fixed costs of entry may be at work. Further analysis suggests the internalization of VC and PE is an ongoing story. Prior to the 1990s, VC was primarily a US-only phenomenon. The globalization of IT activities induced the US venture capital industry to mature, and to start exporting its unique skills as VC managers. The US is now a dominant net exporter of deals, though most cross- border deals are still either to or from the US. China has emerged as the dominant net importer, followed by Sweden, Canada, the UK, India and France. For deals outside the US, cross-border participation has been the norm, while US-located deals have been almost exclusively domestic, involving a higher percent of international participation only after 2001. In the past few years, domestic VC and PE capacity has begun to emerge in many countries where it did not exist previously.
The Suspension Theory: Hurricane Katrina Looting, Property Rights, and Personhood

In anticipation of Hurricane Gustav, Mayor C. Ray Nagin announced, “Anyone caught looting in New Orleans will go directly to the Big House...You will go directly to Angola Prison, and God bless you if you go there.” In making that announcement, Mayor Nagin undoubtedly had the events following Hurricane Katrina in mind. Three years earlier, Hurricane Katrina engulfed the city of New Orleans. When the storm passed and the waters rose, New Orleans was in chaos. Media reports of people vandalizing and looting stores portrayed the image that the city had disintegrated into a state of anarchy. Such reports depicted the looters as heartless criminals who wrongfully took advantage of the disaster-stricken city. But this negative mentality against looting in the aftermath of natural disasters is not reflected in the Louisiana criminal legislation. The penal code establishes a less harsh punishment for looting that occurs after a state of emergency, as opposed to looting that occurs in any other circumstance. These are just two examples of the broad spectrum of how the law and society view the actual criminality of looting after natural disasters. Although some people regard the looting of “luxury goods” as unconscionable, others sympathize with and excuse looters who take only “necessity goods.” Perhaps the conscious distinction has less to do with society’s moral perceptions of looting and more to do with society’s perceptions of ownership. Professors Eduardo M. Penalver and Sonia Katyal argue that society negatively views “property outlaws” because such individuals undermine the stability that property laws strive to produce. Looters, as a particular type of property outlaw, contribute to the fracturing of that stable foundation. Instead of dismissing property outlaws as rebellious, subversive characters, Penalver and Katyal suggest that society should embrace the property outlaw as an enabler of the “reevaluation of, and, at times, productive shifts in the distribution or content of property entitlements.” This Article demonstrates how, after natural disasters like Hurricane Katrina, society’s reaction to looters depends upon the extent to which the looter disrupts the pre-existing property rights under Louisiana property law. To facilitate this discussion, this Article uses a theory first articulated by renowned sociologists and group behavioral theorists Enrico Quarantelli and Russell Dynes — what this Article terms the “Suspension Theory.” This theory illuminates the causal relationship between property rights and societal reactions to looting in different situations.
Wisdom Cultivated through Dialogue

Many negotiation and mediation scholars have grown interested in recent years in the ways in which mindfulness practice as found in various Buddhist schools may be integrated with conflict resolution research and practice. Gregory Kramer, the author of Insight Dialogue, is a long-time teacher of Buddhism who, for more than twenty years, has trained practitioners of mindfulness meditation to practice and cultivate the qualities of mind offered within the Buddhist tradition in interpersonal settings. His perspectives on mindfulness practice are examined here in light of their potential relevance to those theorists and practitioners of negotiation and ADR who seek to transform adversarial mindsets. In this review I suggest parallels between the Buddhist framework and some key ideas in alternative dispute resolution (ADR) scholarship and theory.
The Sources and Uses of Funds for Community Development Financial Institutions: The Role of the Nonprofit Intermediary

The interorganizational connections maintained by community development financial institutions (CDFIs) are examined with data obtained from a survey of CDFI executive directors and three case studies. The network actors are observed across three dimensions: collaboration, resource dependence, and information exchange, from the perspective of an intermediary organization. The following analysis, couched in the theory of efficient network structure, illustrates that governance structures within the CDFI industry involve an identifiable cohort of public, nonprofit, and private sector actors, and these associations facilitate a system of network links across an expansive array of resource needs.
Shareholder wealth effects and bid negotiation in freeze-out deals: Are minority shareholders left out in the cold?

Abstract This paper examines the shareholder wealth effects of bids by controlling shareholders seeking to acquire the remaining minority equity stake in a firm, deals commonly referred to as minority freeze-outs. Minority claimants in freeze-out offers receive an allocation of deal surplus at the bid announcement that exceeds their pro rata claim on the firm. An analysis of bid outcomes and renegotiation indicates that minority claimants and their agents exercise significant bargaining power during freeze-out proposals. Overall, our results suggest that legal standards and economic incentives are sufficient to deter self-dealing by controllers during freeze-out bids.
Raising the Stakes in Patent Cases

II. THE FLAWS OF PATENT CHALLENGES . . . . . . . . . . . . . . . . . . . . . . . 649 A. CHALLENGES AGAINST VALID PATENTS . . . . . . . . . . . . . . . . . . . 650 1. Mistaken Challenges and Invalidation . . . . . . . . . . . . . . 650 2. Disproportionate Impacts on the Most Valuable Patents . 652 3. Disproportionate Impacts on Smaller Firms . . . . . . . . . . 653 B. CHALLENGES AGAINST INVALID PATENTS . . . . . . . . . . . . . . . . . 656 1. Insufficient Challenges and Validations . . . . . . . . . . . . . 656 2. Disproportionate Impacts . . . . . . . . . . . . . . . . . . . . . . . 657
Discounting and Criminals' Implied Risk Preferences

Conventional wisdom holds that potential offenders are more responsive to increases in the certainty than increases in the severity of punishment. In standard law enforcement models, this assumption implies that criminals are risk seeking. We add to the existing literature by showing that offenders who discount future monetary benefits can be more responsive to the certainty rather than the severity of punishment, even when they are risk averse, and even when their disutility from imprisonment rises proportionally (or more than proportionally) with the length of the sentence.
Catholic Social Teaching, the Right to Immigrate and the Right to Regulate Borders: A Proposed Solution for Comprehensive Immigration Reform Based Upon Catholic Social Principles

In the past decade, policymakers from various perspectives have discussed and debated proposals to reform America’s immigration system. This article discusses not only the history of the Catholic legal and intellectual tradition’s contribution to social teaching on the issue of immigration, but emphasizes the development of two strands of Catholic thought: the right to immigrate, and the right to regulate borders. Applying the Catholic legal and intellectual tradition, this article provides a proposal for immigration reform that incorporates key tenets of Catholic social thought.
Sandwiches for promise constraint satisfaction

Promise Constraint Satisfaction Problems ( $$\mathrm{PCSP}$$ ) were proposed recently by Brakensiek and Guruswami as a framework to study approximations for Constraint Satisfaction Problems ( $$\mathrm{CSP}$$ ). Informally a $$\mathrm{PCSP}$$ asks to distinguish between whether a given instance of a $$\mathrm{CSP}$$ has a solution or not even a specified relaxation can be satisfied. All currently known tractable $$\mathrm{PCSP}$$ s can be reduced in a natural way to tractable $$\mathrm{CSP}$$ s. In 2019 Barto presented an example of a $$\mathrm{PCSP}$$ over Boolean structures for which this reduction requires solving a $$\mathrm{CSP}$$ over an infinite structure. We give a first example of a $$\mathrm{PCSP}$$ over Boolean structures which reduces to a tractable $$\mathrm{CSP}$$ over a structure of size 3 but not smaller. Further we investigate properties of $$\mathrm{PCSP}$$ s that reduce to systems of linear equations or to $$\mathrm{CSP}$$ s over structures with semilattice or majority polymorphism.
The "Federalism Five" as Supreme Court Nominees, 1971-1991

This article looks back at the Senate confirmation hearing testimonies of the Supreme Court nominees who became Chief Justice Rehnquist and Associate Justices O'Connor, Scalia, Kennedy and Thomas. As justices, they generally voted together in path-breaking federalism cases. As nominees testifying, however, they did not announce or for the most part even much hint at what came to be their consequential judicial views of national power and state sovereignty, although they did wrestle with "federalism" as much as they were asked and required to do.
Monitoring Corruption: Evidence from a Field Experiment in Indonesia

This paper presents a randomized field experiment on reducing corruption in over 600 Indonesian village road projects. I find that increasing government audits from 4 percent of projects to 100 percent reduced missing expenditures, as measured by discrepancies between official project costs and an independent engineers’ estimate of costs, by eight percentage points. By contrast, increasing grassroots participation in monitoring had little average impact, reducing missing expenditures only in situations with limited free-rider problems and limited elite capture. Overall, the results suggest that traditional topdown monitoring can play an important role in reducing corruption, even in a highly corrupt environment.
University President Compensation: Evidence from the United States

I examine whether compensation of the university president is a function of university type (i.e., top, research, master’s, bachelor’s/specialized). Using a panel dataset containing 761 private universities in the United States, I find that (i) the president’s pay is linked to the university’s performance in the previous period and (ii) the pattern of pay for performance varies across universities of different types. Specifically, top universities’ presidents are incentivized to enhance research activities and private contributions; research universities’ presidents are incentivized to increase tuition revenue but not enrollment; master’s and bachelor’s/specialized universities’ presidents are incentivized to increase tuition revenue and expand enrollment. I do not find evidence that presidents’ pay is linked to relative performance evaluation, measured by the institution’s US News & World Report ranking. I obtain these results after using a university-president pair fixed effects model that controls for unobservable university and president characteristics.
Cisco Systems: Implementing “Customized” ERP in Nine Months and within Budget

This case illustrates the importance of vendor selection, top management support, and team structuring in implementing a complex ERP system. While most organizations choose the de-facto brand as their product, Cisco and its consulting partner, KPMG, went against this perception and selected Oracle who was a newcomer in ERP business. For Oracle this was a golden opportunity to enter a market dominated by SAP and get its ERP modules litmus tested by an industry leader. Cisco on the other hand agreed to help Oracle to market its latest releases to potential customers, in lieu of the successful implementation. Oracle even allowed changing some of its modules to fit Ciscoâ€™s purposes. The implementation team comprised the best people from Cisco, KMPG and Oracle. To have the customized ERP up and running in nine months the team blended the robustness of sequential life cycle model with the flexibility of the iterative prototyping.
Altruism and Burnout: Long Hours in the Teaching Profession:

This article explores why many public school teachers work substantially more hours than required by contract, given that the elasticity of their earnings with respect to their hours is close to ze...
Toward an Understanding of Learning by Doing: Evidence from an Automobile Assembly Plant

We investigate learning by doing using detailed data from a major auto producer’s assembly plant. We focus on the acquisition, aggregation, transmission, and embodiment of the knowledge stock built through learning. We find that most knowledge was not retained by plant workers despite their importance as a learning conduit. This is consistent with the plant’s systems for productivity measurement and improvement. We further explore how learning at the hundreds of processes along the production line undergirds plantwide productivity. Our results shed light on how productivity gains accrue at the plant level and how firms apply managerial inputs to expand production.
Nil: the value of patents in a major crisis such as an influenza pandemic.

Classic patent theory relies on an incentive model to justify the grant of exclusionary patent rights. 1 Under the model, potential patent rights provide an incentive to those who would set about the task of innovating. In constitutional language, this incentive operates to “promote the progress” in the “useful arts.” Patents are only one tool of innovation policy, and we regularly find innovation even in the absence of any direct governmental sponsorship or activity. 3 In this essay, I focus on the role of patents in relation to a potential global crisis such as an influenza pandemic or other public health crisis. Part II considers the reality that patent rights will be largely ignored during an epidemic and that any post-crisis compensation would likely be low when compared to traditional patent rewards or settlements entered under threat of injunctive relief. In some situations, such as use of a patented invention by a state or local government, a patentee may have no recourse. 4 Part III raises a separate issue that stems from the relatively long time frame for obtaining
Who is Still Haunted by the Specter of Communism? Explaining Relative Output Contractions Under Transition

This paper analyzes the initial output decline in transition economies by estimating a cross-sectional model stressing two major factors: conflicts and the legacies of the Soviet period. We link the Soviet legacies in place at the outset of transition to the subsequent path for the development of market-related institutions. Institutional development, as proxied by measures of corruption, is used as an intermediate variable. An instrumental variable approach is followed to derive estimates that are not biased by the possible endogeneity of corruption with respect to output developments. Assuming that the extent of Soviet legacies was positively correlated with the length of communist rule allows us to use years under the Soviet regime as an instrument.
A Restatement of Copyright Law as More Independent and Stable Treatise

This article maps the problematic consequences of over reliance by judges, lawyers and policy makers on copyright law treatises, with a particular focus on the negative effects Nimmer on Copyright has had on the evolution of various copyright law doctrines. It proposes that an ALI Restatement of Copyright Law is needed to create a reference tool that is transparently authored and edited.
The Causes and Consequences of Internal Control Problems in Nonprofit Organizations

ABSTRACT: This study examines the causes and consequences of internal control deficiencies in the nonprofit sector using a sample of 27,495 public charities from 1999 to 2007. We first document that the likelihood of reporting an internal control problem increases for nonprofit organizations that are in poor financial health, growing, more complex, and/or smaller. We then present evidence that the disclosure of weak internal controls over financial reporting is negatively associated with subsequent donor support received after controlling for the current level of donor support and other factors influencing donations. We likewise report a negative association between internal control problems and subsequent government grants. Our results suggest that donors and government agencies, important sources of capital for nonprofit organizations, react either directly or indirectly to internal control information.
The cross-atlantic law and economics divide: a dissent

While law and economics has become an established mode of analysis within the United States, it is generally asserted that law and economics "barely exists" in European countries. In order to support this claim, scholars have looked to various metrics, such as hiring of economists by law schools, publications in major journals, and law and economics conference participation, all of which suggest the United States as being significantly more advanced than Europe in its development of law and economics. This Article states that the gap between the United States and Europe regarding the development of law and economics is greatly exaggerated. We argue that, due to the failure to control for institutional differences between academics in the United States and Europe, existing metrics fail to adequately capture the rate at which law and economics has developed in Europe. In order to appreciate the contribution of law and economics in Europe, we emphasize the distinction between fundamental and applied domestic contributions to a field of scholarship. We suggest that a significant body of European law and economics scholarship fits in the applied group. Moreover, given the institutional obstacles to interdisciplinary research at European law schools, specifically the lack of incentives to produce such scholarship, the more puzzling question is why law and economics is practiced at European law schools as much as it is today. We find that the field of economic analysis of law has inspired impressive entrepreneurial efforts in Europe. The accomplishments of the law and economics movement in Europe are unfairly neglected when measuring scholarly productivity without accounting for institutional differences in educational markets.
When Time Has a Will of Its Own, the Powerless Don't Have the Will to Wait: Anthropomorphism of Time Can Decrease Patience

This article introduces time anthropomorphism: a tendency to imbue time with humanlike mental states (e.g., time has a will of its own). This tendency, which varies across individuals and may also be induced, changes patience (e.g., for standard over expedited shipping). Specifically, time anthropomorphism reduces patience for low-power (but not high-power) individuals because anthropomorphism makes the aversive force of wait time seem more potent (i.e., more aversive) to those who feel less potent themselves (i.e., low-power individuals). In a field study with real money at stake and four experiments, the authors verify the effect on patience and confirm the process via both mediation (i.e., the effect is mediated by how aversively time is perceived) and moderation (i.e., the effect reverses when time is made to seem beneficent). Thus, they introduce time as a consequential anthropomorphic entity, present novel effects on intertemporal preferences, and delineate a potency process for power.
360 Degrees of Segregation: A Historical Perspective Of Segregation-era School Equalization Programs In the Southern United States

The modern school finance litigation movement in the United States is largely based on the presumption that school funding is correlative to the academic success of poor and minority children. Although the start of this movement is generally recognized as beginning in 1971 , its more notable precursors are the southern school equalization programs of the 1940s and 50s. This article explores the impact of a historic attempt to preserve de jure segregation through an equalized school funding program to black and white schools; it then compares that program and its effects to current levels of funding and achievement in the South’s mostly de facto segregated schools.
Neighborhoods in the Wake of the Debacle: Intrametropolitan Patterns of Foreclosed Properties

A key aspect of the U.S. subprime crisis was the accumulation of vacant, foreclosed properties in many neighborhoods and localities. This article describes zip-code-level patterns of foreclosed homes, or what are typically called “real estate owned” (REO) properties, at the peak of the subprime crisis in late 2008 and estimates a model of REO accumulation from 2006 to 2008. Three key findings emerge. First, during the peak of the subprime foreclosure crisis in late 2008, large central cities, on average, experienced higher levels of REO per mortgageable property than suburban areas. This contradicts some suggestions that the crisis was primarily centered in suburban or exurban communities. Second, the suburbanization of REO varied across two key types of metropolitan areas, with boom—bust regions experiencing more suburbanization than weak- or mixed-market metros. Finally, determinants of zip-code-level REO accumulation included high-risk lending activity and the age of housing stock. After controlling fo...
Impact of Employment Agglomeration on Patented Innovation in U.S. Manufacturing Industries from 1986 to 2008

This paper examines impact of employment agglomeration in fifteen U.S. manufacturing industries on their innovation activities measured by patent count. A count data model is employed in regressing patent count on employment agglomeration measures, measure of scale, and some control variables. Measures of employment agglomeration and market concentration are found to have negative impacts on innovation in U.S. manufacturing industries. Two agglomeration proxies -Gini index and Ellison-Glaeser index have a negative influence on U.S. patented innovation for the study period. This result implies that the external benefit of spatial agglomeration of similar firms has waned down. The impact of market concentration is also found to be a negative factor for innovation. This result implies that firms with larger plant size are less innovative than those with smaller plant size. Impact of ‘share of workers with post graduate degrees’ on innovation was found to be a positive but statistically not significant factor for innovation. The ‘goods pooling’ determinant displayed negative influence on innovation. These results are mostly consistent across fifteen manufacturing subsectors. Rising energy cost is found to be one of the most significant deterrents of innovation whereas, ethnic diversity is found to be a significant facilitator of it. Results of this research lend support in favor of regional economic development policies that promote coagglomeration of various interdependent and complementary industries and small scale industries, and supports ethnic diversity to spur innovation in U.S. manufacturing industries.
Plurality Rule, Proportional Representation, and the German Bundestag: How Incentives to Pork-Barrel Differ Across Electoral Systems

This paper examines the importance of electoral rules for legislators’ behavior. The German electoral system includes a mechanism which assigns whether legislators are elected under the “first-past-the-post” (FPTP), or the proportional representation (PR) electoral rule. Using this institution, we identify the effect of electoral rules on legislators’ behavior and disentangle whether so-called pork barrel politics are due to political climate in a country or due to the electoral rule employed. We find significant differences in committee membership, depending whether the legislator is elected though FPTP or PR. legislators elected through FPTP system are members of committees that allows them to service their geographically based constituency. Legislators elected through PR are members of committees that service the party constituencies, which are not necessarily geographically based. JEL Classification: D 72. Thomas Stratmann Center for the Study of Public Choice George Mason University 1D3 – Carow Hall 4400 University Drive Fairfax, VA 22030-4444 U.S.A. tstratma@gmu.edu Martin Baur Department of Economics University of Vienna BWZ-Brunner Strase 72 1210 Wien Austria
Making Room for Consumers under the DMCA

This Article seeks to articulate the interests of information consumers in the era of Digital Rights Management Systems ("DRMs"). The impetus for this inquiry is the growing threat to the interests of information consumers in the digital age. Digital copies protected by DRMs enable rightholders to exercise unparalleled control over the use of copies after purchase by consumers. Recent years have seen a growing number of instances where DRMs were used in ways that threaten consumer rights, such as invading privacy, disabling interoperability, causing security breaches, and limiting the ability of users to annotate or use copies in the time and space of their choice. While many concerns raised by the use of DRMs - such as price and consumer friendliness - are relevant to all types of commodities, other concerns are closely connected to information policy. The ability to exercise physical control over the use of copyrighted works may threaten intellectual freedom and fundamental liberties. It is precisely this dimension, of consuming cultural goods, on which this Article focuses. I offer a view of information consumers that is based on the theoretical framework of copyright law. Developing a notion of consumer protection in cultural markets involves expanding the focus on economic-consumers (consumers-as-shoppers) to incorporate an understanding of consumers as citizens and participants in creative processes. To make room for consumers under copyright law it is necessary to re-conceptualize the notion of 'information consumer' and acknowledge the participatory role of consumers under copyright theory. The perception of consumer-as-participant adds a new dimension to standard copyright analysis, which is particularly significant in the environment of user-generated content. The inspiration for incorporating consumer discourse within copyright analysis originated from two U.S. decisions, Lexmark and Chamberlain, which addressed the interests of consumers in tangible articles of commerce (a printer cartridge and a garage door opener). The Court of Appeals in those cases concluded that consumer rights call for a narrow construction of the DMCA. I argue that the same rationale that convinced the courts to limit the scope of the anti-circumvention rules in Lexmark and Chamberlain should be applied in other contexts involving more conventional copyrighted works such as video games, music, video clips, and artistic images.
Entrepreneurship, and the entrepreneurial market process: Israel M. Kirzner and the two levels of analysis in spontaneous order studies

The science of economics is born out of the puzzle that the coordination of economic activities presents to our imagination. The solution to that puzzle is the entrepreneurial market process. Israel Kirzner has argued that the market economy operates with ruthless efficiency to coordinate economic activities and realize the gains from social cooperation under the division of labor because of the institutional framework within which it operates, namely private property rights. Kirzner, however, is suspicious of economic analysis that doesn't limit its analysis to an examination of processes within that framework, but instead attempts to apply that analysis to the evolution of the framework itself. These are the two-levels of analysis in spontaneous order studies. This paper presents Kirzner's arguments for maintaining a strict dichotomy between the levels of analysis, and then challenges his argument with a discussion of the positive political economy of endogenous rule formation.
•The Pedagogy of Domestic Violence Law: Situating Domestic Violence Work in Law Schools, Adding the Lenses of Race and Class

Introduction 310 I. The Pedagogy of Domestic Violence Law 313 A. Inspiring Law Students to be Champions in Eradicating Domestic Violence 313 B. Addressing Philosophical, Ethical and Political Domestic Violence Matters 317 C. Ensuring Thorough Integration of Race and Class Issues .... 318 D. Assimilating Domestic Violence Law into Existing Courses .. 325 E. Specialized Courses 328 F. Clinics 331 1. Pennsylvania’s Use of IOLTA to Fund Law School Clinics 334 2. The University of Texas School of Law Domestic Violence Clinic 334 G. Independent Study 339 II. Student-Run Legal Advocacy Programs 339 III. Colloquia, Symposia and Conferences 340 IV. Institutionalizing an Ethical Model of Practice 343 A. Ethical Mandates to Teach Domestic Violence Law 343 B. Permanent Funding vs. “Soft” Monies 345 C. Implementing Systems Change with Gentle, Relentless Pressure 348
One Hundred Years Later: Wrongful Convictions after a Century of Research

In this Article, the authors analyze a century of research on the causes and consequences of wrongful convictions in the American criminal justice system while explaining the many lessons of this body of work. This Article chronicles the range of research that has been conducted on wrongful convictions; examines the common sources of error in the criminal justice system and their effects; suggests where additional research and attention are needed; and discusses methodological strategies for improving the quality of research on wrongful convictions. The authors argue that traditional sources of error (eyewitness misidentification, false confessions, perjured testimony, forensic error, tunnel vision, prosecutorial misconduct, ineffective assistance of counsel, etc.) are contributing sources, not exclusive causes, of wrongful convictions. They also argue that the research on wrongful convictions has uncovered a great deal about how these sources operate and what might prevent their effects. Finally, the authors urge criminal justice professionals and policymakers to take this research more seriously and apply the lessons learned from a century of research into wrongful convictions.
Implications for GAAP from an analysis of positive research in accounting

Based on extant literature, we review the positive theory of GAAP. The theory predicts that GAAP’s principal focus is on control (performance measurement and stewardship) and that verifiability and conservatism are critical features of a GAAP shaped by market forces. We recognize the advantage of using fair values in circumstances where these are based on observable prices in liquid secondary markets, but caution against expanding fair values to financial reporting more generally. We conclude that rather than converging U.S. GAAP with IFRS, competition between the FASB and the IASB would allow GAAP to better respond to market forces.
Using Game Theory and the Bible to Build Critical Thinking Skills.

The author describes a course designed to build the critical thinking skills of undergraduate economics students. The course introduces and uses game theory to study the Bible. Students gain experience using game theory to formal- ize events and, by drawing parallels between the Bible and common economic concepts, illustrate the pervasiveness of game-theoretic reasoning across topics within economics as well as various fields of study.