cssi/SciSciGPT-SciSciNet huggingface dataset:
Discovering Secrets: Act of State Defenses to Bribery Cases

Prosecution of white collar crime, particularly grand corruption bribery, is increasing. High-level bribery is structurally similar to illegal drug cartels and terrorist organizations. Bribe-givers are serviced by multinational networks of attorneys and bankers—the “gatekeepers.” The prosecution of New York attorney and banker, James H. Giffen, in the Southern District of New York generated a pair of landmark opinions on significant issues of first impression rejecting act of state doctrine defenses to bribery cases. Act of state doctrine defenses involve complex legal issues at obscure intersections of U.S. criminal law, constitutional law, conflicts of law, and international comity. The first opinion in the Giffen case provides helpful precedent on a central legal hurdle facing prosecutors developing cases—discovering the facts of bribery schemes where documents are ostensibly protected by foreign law. The second opinion arose in an important factual context, where the alleged U.S. bribe-giver also held official titles inside a foreign government. That the U.S. Department of Justice was apparently not undermined in the Giffen case despite the best efforts of powerful U.S. lobbyists and law firms in a case allegedly involving $105 million in bribes from major oil companies should not be worthy of a law review article under normal circumstances. The prosecution of the Giffen case, at the time the largest in the history of the Foreign Corrupt Practices Act, during one of the darkest periods in the history of the U.S. Department of Justice, demonstrates the rule of law operating even handedly, even when major oil interests are at stake.
BEYOND COMMON SENSE: A SOCIAL PSYCHOLOGICAL STUDY OF IQBAL'S EFFECT ON CLAIMS OF RACE DISCRIMINATION

This article examines the U.S. Supreme Court’s decision Ashcroft v. Iqbal, 129 S. Ct. 1937 (2009) from a social psychological perspective, and empirically studies Iqbal’s effect on claims of race discrimination. In Twombly and then Iqbal, the Court recast Rule 8 from a notice-based rule into a plausibility standard. Under Iqbal, federal judges must evaluate whether each complaint contains sufficient factual matter “to state a claim to relief that is plausible on its face.” When doing so, Iqbal requires judges to draw on their “judicial experience and common sense.” Courts apply Iqbal at the pleading stage, before evidence has been presented, when judging the plausibility of all claims, including claims of discrimination by members of stereotyped groups. Decades of social psychological research suggest that, when judges deliberate on the plausibility of discrimination claims without evidence based on “common sense,” intuitions, stereotypes and implicit bias will likely affect their judgment. This article draws on this science and performs an empirical study showing that Iqbal has significantly increased the dismissal rate for Black plaintiffs’ claims of race discrimination in the workplace.A statistical analysis of 208 cases examined judicial decision-making at the pleading stage for Black plaintiffs’ claims of race discrimination in the workplace. Three studies show that the underpinnings of Iqbal are unsound. Study 1 shows that the dismissal rate increased from 20.5% pre-Twombly to 54.6% under Iqbal for these claims. Study 2 shows that the dismissal rate increased from 32.0% to 67.35% under Iqbal for these claims when Black plaintiffs were pro se. And finally, Study 3 suggests that White and Black judges are applying Iqbal differently. White judges dismissed these claims at a higher rate (57.5%) than Black judges (33.3%). Study 3 shows a trend in which White judges, as compared to Black judges, are more likely to dismiss Black plaintiffs' claims of race discrimination. In short, Iqbal rests on an inaccurate theory of judgment and decision making. As Roscoe Pound once observed there are, “distinctions between law in the books and law in action, . . . between legal theory and judicial administration. . .” It is hoped that by introducing the science behind judgment and decision making, stereotypes, and implicit associations, and by studying human nature in law, we will broaden our knowledge of how Iqbal has affected claims of discrimination by members of stereotyped groups.
Japanese migration in contemporary Japan: economic segmentation and interprefectural migration.

Abstract This paper examines the economic segmentation model in explaining 1985–86 Japanese interregional migration. The analysis takes advantage of statistical graphic techniques to illustrate the following substantive issues of interregional migration: (1) to examine whether economic segmentation significantly influences Japanese regional migration and (2) to explain socioeconomic characteristics of prefectures for both in‐ and out‐migration. Analytic techniques include a latent structural equation (LISREL) methodology and statistical residual mapping. The residual dispersion patterns, for instance, suggest the extent to which socioeconomic and geopolitical variables explain migration differences by showing unique clusters of unexplained residuals. The analysis further points out that extraneous factors such as high residential land values, significant commuting populations, and regional‐specific cultures and traditions need to be incorporated in the economic segmentation model in order to assess the ex...
Interlocutory Injunctive Relief in Environmental Cases: A Primer for the Practitioner

Much environmentally related litigation involves a request for interlocutory injunctive relief, which calls for the exercise of equity powers by the judiciary. This article explores how courts have treated such requests for relief in environmental cases, and discusses the legal, strategic and practical elements involved in seeking or resisting such relief.
Punishing Children in the Criminal Law

The Article examines two intuitions which fuel widespread scholarly opposition to punishing children for crime. Part I discusses the elements of criminal responsibility and examines the bases for what I call the Culpability Thesis—the claim that children, by definition and as a class, do not possess the understanding, experience, and cognitive capacities necessary to be held criminally liable. None of these arguments mandates the conclusion that children must be categorically excluded from criminal responsibility. Part Two examines the "Redemption Thesis"—the claim that, whatever their mental state and understanding at the time of the harmful act, children's capacity for redemption should exculpate them from criminal responsibility. The Article concludes that if the capacity for redemption really is a value that should inform criminal punishment, it is a value that cuts against separating children and adults for purposes of the criminal law. * Professor of Law, College of William and Mary.
Toward a Theory of Public Ritual

Given that holidays both reflect a society's attributes and serve to modify these attributes, they are a valuable tool for a macro-sociological analysis. This paper proceeds by examining Durkheim's well-known contributions on rituals and advancing theoretical ideas on how these might be modified, seeking to develop a theory of holidays. The article concerns the role of holidays in managing tensions and recommitment to values; their role in relating communities to the society at large; their effect on gender roles, and the theoretical issues concerning holiday cycles and holiday-engineering efforts by religious authorities and states that have endeavored to adapt holidays for their own purpose. The article relies on public accounts, personal observations, and findings culled from a few studies by contemporary social scientists.
When behavior matters: Games and computation in A Behavioral Theory of the Firm

Abstract A Behavioral Theory of the Firm presents a computational model of a duopoly that is based on observations of firm behavior and that incorporates a range of behavioral constructs. Because this model is starkly different from the traditional game-theoretic analysis of duopoly, it useful to compare the performance of a game-theoretic version of this model, shorn of all behavioral constructs, with the original Cyert and March paradigm. To do this we calibrate the game-theoretic model with all the economic components of the computational model, and we assume that firms could choose either cooperative or non-cooperative strategies. We find that the pricing strategy of the computational firms is similar to that found in a non-cooperative game-theoretic outcome and that the advertising choice of the computational firms is less than what non-cooperative or cooperative game-theoretic behavior would predict. We also consider how initializing the choices of the computational firm with those of the game-theoretic firms affects their performance. Informing the computational firms in this way led to greater changes in advertising than pricing strategies; profits of the computational firms were greatest when their initial choices were those found in a non-cooperative equilibrium.
Private Debt and the Missing Lever of Corporate Governance

Traditional approaches to corporate governance focus exclusively on shareholders and neglect the large and growing role of creditors. Today’s creditors craft elaborate covenants that give them a large role in the affairs of the corporation. While they do not exercise their rights in sunny times when things are going well, these are not the times that matter most. When a business stumbles, creditors typically enjoy powers that public shareholders never have, such as the ability to replace the managers and install those more to their liking. Creditors exercise these powers even when the business is far from being insolvent and continues to pay its debts. Bankruptcy provides no sanctuary, as senior lenders ensure that their powers either go unchecked or are enhanced. The powers that modern lenders wield rival in importance the hostile takeover in disciplining poor or underperforming managers. This Essay explores these powers and begins the task of integrating this lever of corporate governance into the modern account of corporate law.
Optimal Value and Growth Tilts in Long-Horizon Portfolios

We develop an analytical solution to the dynamic portfolio choice problem of an investor with power utility defined over wealth at a finite horizon, who faces a time-varying investment opportunity set, parameterized using a flexible vector autoregression. We apply this framework to study the horizon effects in the allocations of equity-only investors, who hold a mix of value and growth indices, and a more general investor, who also has access to Treasury bills and bonds. We find that the mean allocation of equity-only investors is heavily tilted towards value stocks at short-horizons, but the magnitude of this tilt declines dramatically with the investment horizon, implying that growth is less risky than value at long horizons. Investors with access to bills and bonds exhibit similar behavior, when value and growth tilts are computed relative to the total equity allocation of the portfolio. However, after accounting for the propensity of these investors to increase their total equity allocation as the horizon increases, the mean value tilt of the optimal allocation is shown to be positive and stable across time. Copyright 2011, Oxford University Press.
Crime-Severity Distinctions and the Fourth Amendment: Reassessing Reasonableness in a Changing World

A growing body of commentary calls for the Supreme Court to recalibrate its Fourth Amendment jurisprudence in response to technological and social changes that threaten the traditional balance between public safety and personal liberty. This Article joins the discussion, highlighting a largely overlooked consideration that should be included in any modernization of Fourth Amendment doctrine—crime severity. The Supreme Court emphasizes that “reasonableness” is the “touchstone” of Fourth Amendment analysis. Yet, in evaluating contested searches and seizures, current Fourth Amendment doctrine ignores a key determinant of reasonableness, the crime under investigation. As a result, an invasive search of a suspected murderer is, legally speaking, no more or less reasonable than the same search of a suspected jaywalker. Through the years, the primary objection raised by the Supreme Court and academics to altering this status quo is that a crime-severity variable would be unworkable. While a handful of scholars continue to argue for an increased role for crime severity in Fourth Amendment jurisprudence, this powerful objection remains unanswered. In an effort to fill this void in the debate, and introduce crime severity as a critical component of a revitalized search and seizure jurisprudence, this Article proposes a concrete framework for incorporating crime severity into Fourth Amendment doctrine. The Article then explores specific applications of the framework to highlight the constructive role crime-severity distinctions can play in defining the constitutional parameters of searches and seizures in the modern era.  Assistant Professor of Law, Southern Methodist University, Dedman School of Law. I would like to thank Orin Kerr, Fred Moss, Paul Ohm, Meghan Ryan, Bill Schroeder, Chris Slobogin, Jenia Turner, and Eugene Volokh, as well as the participants in the SMU Criminal Justice Workshop, for their comments on an earlier draft of this Article. Donna Bowman and Octavio Dominguez contributed valuable research assistance. The Article benefitted as well from the patience and support of Catherine Zoe Garrett, and the financial support of the SMU Dedman School of Law and the Fred E. Tucker Endowment for Faculty Excellence. A1 BELLIN.DOCX (DO NOT DELETE) 9/30/20112:18 PM 2 IOWA LAW REVIEW [Vol. 97:
Hired to Invent vs. Work Made For Hire: Resolving the Inconsistency Among Rights of Corporate Personhood, Authorship, and Inventorship

This Essay focuses on the interrelation of three legal doctrines that affect the allocation of ownership and attribution of products of the human mind. The first, corporate personhood, grants corporations rights of personhood similar to those of natural persons. The second, the workmade-for-hire doctrine (WMFH) under copyright law, allocates ownership and attribution for copyrightable works to the employer of the natural-person author—even where that employer is a nonnatural, legal person such as a corporation. And the third, shop rights and the hired-toinvent exception, permits courts to grant equitable licenses or assignments to employers for their employees’ inventions. These three doctrines have very different backgrounds and rationales. Yet, they are increasingly brought to bear simultaneously in innovative firms where creative works are developed that include copyrightable and patentable elements. At the same time, the three doctrines are inconsistent with regard to the result of their application to questions of allocation of ownership and attribution of creative works. As a preliminary matter, “ownership” means the right to the legal title of the creative work, whereas “attribution” means the right to claim recognition as the author or inventor of the creation. Corporate personhood accords corporations nonexclusive lists of enumerated powers, such as the power to own and convey property, together with catchall powers to do whatever is necessary or convenient
The extinction curve in the visible and the value of RV

This article discusses the interstellar extinction curve in the visible and the value of the ratio of absolute to selective extinction RV = AV/E (B – V). It is concluded that the visible extinction curve is likely to be linear in the visible and that indirect estimates of RV from tentative determinations of AV or from infrared and UV observations are questionable. There is currently no evidence of any variation of RV with direction. If RV is close to 3, as it has been inferred from mid-infrared data, starlight in the visible is extinguished by a factor F /F0 = (2.5 e–2μm/λ)E (B –V). But if the visible wavelength range alone is considered, 4 appears as its most natural and probable value and F /F0 = e–2E (B –V)/λ (© 2011 WILEY-VCH Verlag GmbH & Co. KGaA, Weinheim)
The Options Market Maker Exception to SEC Regulation SHO

Abstract Until 2008, options market makers engaged in bona fide market making were exempt from locate and certain close-out requirements for short sales (the “Exception”). This Exception applied only to short sales that qualified as bona fide hedges of options positions that were established before a stock went on the SEC Regulation SHO Threshold List. In this paper we examine the consequences of eliminating this close-out Exception. Specifically, we test the hypothesis that eliminating the Options Market Maker Exception to SEC Regulation SHO reduced the incentive to naked short sell stocks through the options market. We compare data from the second and fourth quarters of 2008. Consistent with our predictions, we find that eliminating the Exception led to fewer fails-to-deliver and higher stock borrow rates for optionable stocks as compared to non-optionable stocks. Further, removing the Exception reduced fails-to-deliver for optionable stocks when the price of borrowing stock was high. Finally, options market trading volume declined after the Exception was eliminated.
A bright side of financial constraints in cash management

Abstract This paper tests whether financial constraints play a disciplinary role in cash dissipation in the presence of agency problems. We hypothesize that when firms have difficulty raising external funds, empire-building managers of cash-rich firms will be less likely to spend cash on negative NPV projects as compared to unconstrained managers. Empirically, we examine firm performance after cash dissipation and associate it with the degree of financial constraints. We find that cash spending by managers in financially constrained firms is associated with higher future profitability and stock returns compared to cash spending by managers in unconstrained firms. Further tests reveal that the positive effect of financial constraints on firm performance is not driven by differences in corporate governance. Financial constraints actually substitute for good governance in disciplining managers. We find that corporate governance improves the efficiency of cash dissipation in unconstrained firms, but not in constrained firms. Likewise, financial constraints' disciplinary effect is found to be concentrated in firms that are poorly governed.
The Preference for Moderation Scale

We propose that individual differences in the value placed on the principle of moderation exist and influence many aspects of consumer decision-making. The idea that moderation is an important guiding norm of human behavior is prevalent throughout history and an explicit theme in many philosophies, religions, and cultures. Yet, moderation has not been studied as an individual-level determinant of consumer behavior. We develop a scale that measures the degree to which individuals have a Preference for Moderation (PFM). The PFM scale predicts consequential behavior in many decision contexts. We first report on scale development, including the generation and selection of items. We then report analyses that show PFM is distinct from several popular individual-difference variables. Related to cultural background, PFM reliably predicts the use of compromise (study 1) and balancing (vs. highlighting) strategies (study 2), as well as various decision-making behaviors, including reliance on the representativeness heuristic (study 3), self-reported financial habits and outcomes (studies 4-5), real-world online reviewing behavior (study 6), and split-ticket voting behavior in the 2018 U.S. midterm elections (study 7).
Chevron Lite: How Much Deference Should Courts Give to State Agency Interpretation?

Administrative law scholars and practitioners champion the Chevron doctrine as the touchstone for analyzing cases involving judicial review of a federal agency's interpretation of its federal enabling statute. 1 The facts of Chevron U.S.A., Inc. v. Natural Resources Defense Council, Inc., the 1984 United States Supreme Court case in which the iconic Two Step test was first articulated; involved a federal court review of the Environmental Protection Agency's (EPA) interpretation of the Clean Air Act (CAA).3 What this landmark case has to say about the proper standard for judicial review of a state agency's interpretation of its state law enabling legislation can be discerned in three ways: (1) through state case
Aging: Some Pleasant Fiscal Arithmetic

Projections of age-related public expenditure growth have raised widespread concerns about fiscal sustainability. This paper examines how total expenditure would develop under four policy rules on public expenditure growth. Some simple arithmetic of expenditure, GDP, and population is reviewed and applied in simulations for 19 OECD countries over 2000–50. A general and a specific conclusion arise from the results. Generally, long-term expenditure projections could benefit from revisiting common assumptions on non-age-related expenditure growth. Specifically, realistic gradual adjustment in non-age-related expenditures could go a long way towards maintaining fiscal sustainability under age-related spending pressures.
Worker Centers and Labor Law Protections: Why Aren't They Having Their Cake?

Excerpt] As private sector labor union membership in the United States dwindles, the number of worker centers continues to grow. In 1985, there were just five worker centers in the United States.' Today there are more than 200 such centers. Worker centers are often broadly defined as "community-based mediating institutions that organize, advocate, and provide direct support to low-wage workers." Given worker centers' focus on low-wage workers largely engaged in service sectors of our postindustrial economy and their relatively recent entrance into the field of United States labor relations, scholars and commentators are increasingly debating the applicability of the eighty-year-old National Labor Relations Act (NLRA) to the worker organizing activities of these emerging organizations.
The Emergence of Dominant Designs

Abstract In many product categories, technological evolution results in the emergence of a single product design that achieves market dominance. In this article, the authors examine two questions: Will a dominant design emerge in a new product category? and If it does, how long will it be before a dominant design emerges? Thus, the authors simultaneously model the probability of emergence of a dominant design and the time of that emergence, conditional on its emergence. The model incorporates the effects of several product-market characteristics on the probability and time of dominant design emergence, including appropriability of the rents associated with the product, network effects, size of the product's value net, the standards-setting process, radicalness of innovation, and research-and-development intensity. The authors use data for 63 office products and consumer durables to estimate a split-population hazard model for the probability and time of emergence of the dominant design. They find that a d...
Fama–MacBeth two-pass regressions: Improving risk premia estimates

Abstract In this paper, we provide the asymptotic theory for the widely used Fama and MacBeth (1973) two-pass risk premia estimates in the usual case of a large number of assets. We demonstrate analytically and using simulations that the standard OLS and GLS estimators can contain large bias when the time series sample size is small, but our proposed OLS and GLS estimators can reduce the bias significantly.
Prosecutorial Passion, Cognitive Bias, and Plea Bargaining

The standard account in support of plea bargaining is that it reflects both likely trial and sentencing outcomes, but a growing literature explores the ways in which plea negotiations are influenced by factors other than the likelihood of conviction and the probable post-trial sentence. For example, structural factors such as limited pre-trial discovery, attorney self-interest and incompetence, pretrial detention, and determinate sentencing can affect the parties' willingness and power to negotiate. Several scholars have also observed the ways that psychological and cognitive factors, such as overconfidence, denial, information barriers, framing, anchoring, and risk aversion, can influence plea bargaining. Previous examinations of the influence of cognitive bias on plea bargaining have focused primarily on the decision making of defendants. This Article, a contribution to Marquette Law Review's symposium on plea bargaining, seeks to contribute an additional dimension to the understanding of plea bargaining dynamics by exploring influences on the decision making of prosecutors. A central tenet of plea bargaining is that prosecutors are willing to negotiate settlements to free up trial resources for other cases. Accordingly, the first step in this Article's exploration of prosecutorial decision making in plea bargaining is an examination of the factors that drive a prosecutor's prioritization of cases. Specifically, Part I argues that prosecutors prioritize cases in part by the amount of passion they feel in each case. Prosecutorial passion - how much a prosecutor "cares" about a case - is an undefined and unexplored factor in the current literature, and reflects subjective determinations beyond the strength of a case's evidence or its likely post-conviction sentence. Part II explores the ways that prosecutorial passion might affect plea bargaining. First, passion might create a conscious aversion to plea bargaining in prosecutors. Second, even when a passionate prosecutor believes she desires settlement, passion might trigger or exaggerate cognitive biases that will make settlement less likely, such as selective information processing, loss aversion, framing, overoptimism, hindsight bias, anchoring, and the sunk cost fallacy. Part III concludes with some brief thoughts regarding the implications of prosecutorial passion for plea bargaining reform.
The Slowdown of the Economics Publishing Process

Over the last three decades there has been a dramatic slowdown of the publication process at top economics journals. A substantial part is due to journals' requiring more extensive revisions. Various explanations are considered: democratization of the review process, increases in the complexity of papers, growth of the profession, and cost and benefit arguments. Changes in the profession are examined using time‐series data. Connections between these changes and the slowdown are examined using paper‐level data. There is evidence for some explanations, but most of the slowdown remains unexplained. Changes may reflect evolving social norms.
It’s All in the Timing: Simple Active Portfolio Strategies that Outperform Naïve Diversification

DeMiguel, Garlappi, and Uppal (2009) report that naive diversification dominates mean-variance optimization in out-of-sample asset allocation tests. Our analysis suggests that this is largely due to their research design, which focuses on portfolios that are subject to high estimation risk and extreme turnover. We find that mean-variance optimization often outperforms naive diversification, but turnover can erode its advantage in the presence of transaction costs. To address this issue, we develop 2 new methods of mean-variance portfolio selection (volatility timing and reward-to-risk timing) that deliver portfolios characterized by low turnover. These timing strategies outperform naive diversification even in the presence of high transaction costs.
The hot hand and the cold hand in professional golf

Abstract Previous studies have shown that people believe in the existence of the “hot hand” effect: recent good performances make one more confident and lead to more good performances. However, economists have found little evidence that such an effect is present. Motivated by models of momentum from psychology, this study examines hole-by-hole performances of four types of professional golfers, which is perhaps the ideal environment to evaluate whether such an effect exists. The results show that evidence consistent with the existence of hot hand and cold hand can be masked by looking only at overall mean impacts because the existence and magnitude of the effects can vary with the player's experience.
BAN THE BOX, CONVICTIONS, AND PUBLIC EMPLOYMENT

Ban the Box (BTB) policies mandate deferred access to criminal history until later in the hiring process. However, these policies chiefly target public employers. The study is the first to focus on the primary goal of BTB reform, by measuring the impact of BTB policies on the probability of public employment for those with convictions. To execute the analyses, the study uses data from the National Longitudinal Survey of Youth 1997 Cohort (2005–2015) and difference‐in‐difference (DD) estimation. The study finds that BTB policies raise the probability of public employment for those with convictions by about 30% on average. Some scholars argue that BTB policies encourage statistical discrimination against young low‐skilled minority males. The study employs triple‐difference (DDD) estimation to test for statistical discrimination, but uncovers no evidence to support the hypothesis. (JEL J15, J71, J78, K4).
Governance under common ownership

Conventional wisdom is that diversification weakens governance by spreading an investor too thinly. We show that, when an investor owns multiple firms (“common ownership”), governance through both voice and exit can strengthen – even if the firms are in unrelated industries. Under common ownership, an informed investor has flexibility over which assets to retain and which to sell. She sells low-quality firms first, thereby increasing price informativeness. In a voice model, the investor’s incentives to monitor are stronger since “cutting-and-running” is less profitable. In an exit model, the manager’s incentives to work are stronger since the price impact of investor selling is greater.
Operational Risk in Financial Services: A Review and New Research Opportunities

We present a framework to describe and analyze operational risk in financial services from an operations management perspective, focusing in particular on process design, process management and human behavior aspects. The financial services industry differs from other service industries in ways that affect the nature of the operational risks it is subject to. In recent decades, many books and papers have focused on operational risk in financial services; however, this literature has focused mainly on the conceptual and statistical aspects of operational risk management and not on its operational aspects. Operational risk in financial services has not received much attention from the operations management community. The framework presented here is based on the premise that operational risk in financial services can reap significant benefits from research done in the theory and practice of operations management in manufacturing industries as well as in other services industries. The objective of this paper is to propose particular challenges and questions raised in the practice of operational risk management that may stimulate future research in this particular area of operations management. This article is protected by copyright. All rights reserved.
The Escalating Copyright Wars

Piracy is one of the biggest problems in the United States today. In 2001 alone, the United States lost more than 9 billion dollars in copyright piracy. Although these figures seem alarming, they have yet to reveal the full extent of the damages of the existing piracy problem. In a recent music conference, the head of the International Federation of the Phonographic Industry (IFPI) indicated that music piracy had threatened 600,000 jobs in the European music industry. Given the intertwining relationship between the entertainment industries and the U.S. economy, a similar number of, or even more, U.S. jobs will likely be threatened if piracy continues at the present level.
Madagascar: An Empirical Test of the Market Relaxation‐State Compression Hypothesis

This article examines how liberalisation efforts in the 1980s affected spacial and temporal food market integration in Madagascar.
Religion and the secular state

The first amendment came into effect more than two hundred years ago. Changing emphases at different periods of time means that the flow of cases varies and the justices have different assumptions not only from each other but also from their predecessors. For a time, few cases were brought under either religion clause, making Reynolds (1878), a free exercise claim and Everson (1947), an establishment claim, stand out. Everson, however, ushered in a rich profusion of cases which has only recently exhausted itself with Zelman (2002) (the establishment clause does not prevent parents from using school vouchers at a religious school), and Locke v. Davey (2004) (the state constitution may deny religious claimants equal protection in apply ing for school funds). While the free exercise clause thus does not apply to the states, the establishment clause does! Nevertheless, it, along with the free exercise, offers many protections for religious denomina tions and governments, and not least to individuals making claims of conscience. Today we are in a secular age. Thus in 1990, Justice Scalia effectively de-constitutionalized claims under the free exercise clause of the first amendment in Smith. Recently, in his concurrence in Pleasant Grove, Justice Scalia urges the same treatment for claims under the establishment clause. De facto de-constitutionalization of both clauses perhaps can be read to suggest that religion is less rele vant to American society today. At first members of minority religions lose their protected status under the first amendment. As proportion ally fewer people are aligned with mainstream religions, more and more people will stand alone and unprotected by the first amendment.
How the War on Terror May Affect Domestic Interrogations: The 24 Effect

For the first time since Miranda was decided nearly forty years ago,1 interrogation techniques have been at the forefront of the American consciousness. The War on Terror has forced Americans to grapple with the definition of torture, whether torture is ever an appropriate interrogation technique, whether it is an effective interrogation technique, and so on. Unlike many past discussions of interrogation techniques, the current torture debate has not been limited to law enforcement and the legal academy; discussions of torture and “hard treatment” have been front page news, have permeated popular culture, and have forced the American people to examine their preconceptions of the appropriateness of coercion in obtaining information from suspects. I call the omnipresence of depictions and discussions of torture in popular culture the “24 Effect.”2 We see torture depicted in fiction,3 on the news,4 and on the internet.5 My concern is not
Spin-orbit scattering in superconducting nanoparticles

We review interaction effects in chaotic metallic nanoparticles. Their single-particle Hamiltonian is described by the proper random-matrix ensemble while the dominant interaction terms are invariants under a change of the single-particle basis. In the absence of spin-orbit scattering, the nontrivial invariants consist of a pairing interaction, which leads to superconductivity in the bulk, and a ferromagnetic exchange interaction. Spin-orbit scattering breaks spin-rotation invariance and when it is sufficiently strong, the only dominant nontrivial interaction is the pairing interaction. We discuss how the magnetic response of discrete energy levels of the nanoparticle (which can be measured in single-electron tunneling spectroscopy experiments) is affected by such pairing correlations and how it can provide a signature of pairing correlations. We also consider the spin susceptibility of the nanoparticle and discuss how spin-orbit scattering changes the signatures of pairing correlations in this observable.
Behavioral Targeting: A Case Study of Consumer Tracking on Levis.com

Behavioral targeting is an online marketing method that collects data on the browsing activities of consumers, in order to „target‟ more relevant online advertising. It places digital tags in the browsers of web site visitors, using these tags to track and aggregate consumer behavior. The vast majority of data is collected anonymously, i.e., not linked to a person‟s name. However, behavioral targeting does create digital dossiers on consumers with the aim of connecting browsing activity to a tagged individual. This tagging is largely invisible to consumers, who are not asked to explicitly give consent for this practice. By using data collected clandestinely, behavioral targeting undermines the autonomy of consumers in their online shopping and purchase decisions. In order to illustrate the nature of consumer tracking, a case study was conducted that examined behavioral targeting within Levis.com, the e-commerce site for the Levis clothing line. The results show the Levis web site loads a total of nine tracking tags that link to eight third party companies, none of which are acknowledged in the Levis privacy policy. Behavioral targeting, by camouflaging the tracking of consumers, can damage the perceived trustworthiness of an e-commerce site or the actor it represents. The risks behavioral targeting presents to trust within ecommerce are discussed, leading to recommendations to reestablish consumer control over behavioral targeting methods.
Quantum Wall Crossing in N=2 Gauge Theories

We study refined and motivic wall-crossing formulas in N = 2 supersymmetric gauge theories with SU(2) gauge group and N _f < 4 matter hypermultiplets in the fundamental representation. Such gauge theories provide an excellent testing ground for the conjecture that “refined = motivic.”
When Institutions Fail: The Case of Underage Marriage in India

When do we know that the rule of law has failed or been corrupted? Who can we point to as corrupting legal order or the rule of law when most of the parties appear to be one-shotters? One shot players lack the ability to quickly master and more importantly conquer sophisticated legal labyrinths made less an enigma to repeat players-the legal elites. In India, the lines that divide the elite from the less sophisticated, or the one-shotters from the repeat players are as thick as the social customs that once divided its nation into castes. This Essay takes up the case of child marriage in India to demonstrate why the “haves” come out ahead in India’s marriage markets.
The Role of History and Culture in Developing Bankruptcy and Insolvency Systems: The Perils of Legal Transplantation

In this Article, Professor Nathalie Martin examines societal attitudes toward debt and finan- cial failure in the context of two global trends, the liberalization of bankruptcy and insolvency laws, and the increased availability of consumer credit around the world. The Article begins with a description of the his- tory of the U.S. economy, its risk-oriented capitalist ethos, its consumer culture, and its resulting consumer and business bankruptcy laws. The Article next briefly addresses the personal bankruptcy systems of Conti- nental Europe, noting that in some places, U.S.-style bankruptcy systems have been enacted but not necessar- ily accepted. Professor Martin then discusses Japanese and Chinese cultural attitudes toward debt, and briefly discusses new laws being proposed or passed in Japan, Hong Kong, and mainland China, some of which are based in part upon U.S. laws. Based on this and other examples, she concludes that cultural attitudes play a tremendous role in the efficacy of bankruptcy and insolvency systems. She further concludes that, as more and more consumer and business credit becomes available around the world, the countries affected will need to enact effective and accepted discharge and fresh start principles, but that these systems cannot simply be transplanted from the United States. Such transplantation is likely to be ineffective and thus gradual education and changes in laws and credit availability will be needed in order to avoid the extensive social costs that could result from too much credit in systems that do not accept financial failure.
Product differentiation and film-programming choice: do first-run movie theatres show the same films?

We present an empirical analysis of product differentiation using a new panel data set on film-programming choice in a major U.S. metropolitan motion-pictures exhibition market. Using these data, we compute two measures of product similarity, which allow us to investigate the determinants of strategic product differentiation in a multi-characteristics space. Our evidence is consistent with the idea that the degree of product differentiation between theatre pairs reflects a balance between strategic concerns and contractual constraints. Similarity in one dimension is offset by differentiation in others. Our results further suggest that the degree of product differentiation is negatively related to market size. Finally, we find that ownership matters: theatres under common ownership make more similar programming choices than theatres with different owners.
Cyclicality of Credit Supply: Firm Level Evidence

Abstract We quantify fluctuations in bank-loan supply in the time-series by studying firms' substitution between loans and bonds using firm-level data. Any firm that raises new debt must have a positive demand for external funds. Conditional on the issuance of new debt, we interpret firms' switching from loans to bonds as a contraction in bank-credit supply. We find strong evidence of this substitution at times that are characterized by tight lending standards, depressed aggregate lending, poor bank performance, and tight monetary policy. We show that this substitution behavior has strong predictive power for bank borrowing and investments by small firms.
People, Bodies and Biospheres: Nexus and the Toxic Tort

This special issue on toxic torts and environmental justice is, broadly stated, a multi-vocal discussion of reform in those areas of tort law that bear on toxins, property, and bodies.
Revolution in Latin American Criminal Procedure: Diffusion of Legal Ideas from the Periphery

Over the last 15 years, 14 Latin American countries and a substantial number of Latin American provinces and states have introduced new criminal procedure codes. These reforms are, arguably, the deepest transformation that Latin American criminal procedures have undergone in nearly two centuries. This article shows how a network of Latin American lawyers who worked on the drafting and implementation of the new codes played a crucial role in this wave of reforms. This network of Latin American legal entrepreneurs--that this article characterizes as a Southern activist expert network--proposed the new criminal procedure codes to solve problems such as lack of due process and transparency and inefficiency, and framed the reforms as a conversion from inquisitorial to accusatorial criminal procedures. The key to the success of these legal entrepreneurs was their ability to convince both international and domestic actors that adopting the new criminal codes would work toward meeting the goals of the many actors. As more Latin American countries adopted new criminal procedure codes, the legal entrepreneurs' reference to a regional trend also contributed to the spread of the reforms, as it generated a kind of peer pressure on actors in countries that had not yet introduced reforms, contributing to a code cascade effect. A detailed history of this wave of Latin American criminal procedure reforms has not been told and this Article aims at filling this void. In addition, this Article aims to contribute to the literature on legal transplants and the diffusion of legal rules, norms, and policies throughout the world in general, and Latin America in particular. An original feature of this wave of criminal procedure reforms is that its model of the diffusion of ideas differs from the models presented in existing literature. This literature has analyzed how rules, norms and policies normally diffuse either from the center to the periphery--i.e., from developed to developing countries, from the north to the south or from the west to the east; or as a result of the domestic dynamics of the adopting countries. In contrast, in the case of what this Article calls diffusion from the periphery--rules, norms and policies diffuse from peripheral countries to either central countries or to other peripheral countries. In this sense, the wave of Latin American criminal procedure reforms is not merely a counter example to the existing models but forms the basis for a new theoretical model that this Article introduces.
Aggregate Spending and the Terms of Trade: Is There a Laursen-Metzler Effect?

This paper investigates the spending and current-account effects of terms-of-trade shifts in a model where households maximize utility over an infinite planning period. In the framework developed here, an economy specialized in production must experience a fall in aggregate spending and a current surplus as a result of an unanticipated, permanent worsening in its terms of trade. The paper's model thus provides a setting in which the current-account deficit predicted by Laursen and Metzier, Harberger, and others fails to materialize.
Universal Anti-Bribery Legislation Can Save International Business: A Comparison of the FCPA and the UKBA in an Attempt to Create Universal Legislation to Combat Bribery around the Globe

A study of the the FCPA and the UKBA, comparing the differences and the potential pitfalls the discrepancy causes to global corporations. It discusses how universal anti-bribery legislation could change international business for the better.
Research Analysis and Planning: The Undervalued Skill in Legal Research Instruction

This article describes a method of research analysis and planning for legal problems. It introduces the framework of research plan, log, and product and provides a detailed research plan and log that students can use as a template for learning research. The article suggests how to teach the method in legal research classes, shares some of the author's experiences in teaching the method, and addresses some possible criticisms of this approach.
Forecasting with factor-augmented regression: A frequentist model averaging approach

Abstract This paper considers forecast combination with factor-augmented regression. In this framework, a large number of forecasting models are available, varying by the choice of factors and the number of lags. We investigate forecast combination across models using weights that minimize the Mallows and the leave- h -out cross validation criteria. The unobserved factor regressors are estimated by principle components of a large panel with N predictors over T periods. With these generated regressors, we show that the Mallows and leave- h -out cross validation criteria are asymptotically unbiased estimators of the one-step-ahead and multi-step-ahead mean squared forecast errors, respectively, provided that N , T → ∞ . (However, the paper does not establish any optimality properties for the methods.) In contrast to well-known results in the literature, this result suggests that the generated-regressor issue can be ignored for forecast combination, without restrictions on the relation between N and T . Simulations show that the Mallows model averaging and leave- h -out cross-validation averaging methods yield lower mean squared forecast errors than alternative model selection and averaging methods such as AIC, BIC, cross validation, and Bayesian model averaging. We apply the proposed methods to the US macroeconomic data set in Stock and Watson (2012) and find that they compare favorably to many popular shrinkage-type forecasting methods.