cssi/SciSciGPT-SciSciNet huggingface dataset:
An Exploration of Impact of Cognitive Elaboration on Learning in ISD Projects

Stakeholder learning has been considered crucial for effective participation and the success of information system development (ISD). However, little guidance has been offered as an operational method to facilitate learning in ISD settings. We argue that “cognitive elaboration” (CE) is a helpful strategy for developing effective learning in client–developer interactions in ISD efforts. Two types of learning are investigated: model-building (MB) and model-maintenance (MM). The current study investigated whether CE performed by stakeholders themselves in client–developer interaction led to their MB rather than MM learning. In addition, an alternative hypothesis has been explored: whether mere communication activities may induce learning. Fifty individuals in seven ongoing software development projects in four organizations were examined. For each project, two meetings in which clients and developers participated were observed. The empirical results demonstrated that stakeholders in an ISD process who have engaged in CE themselves are more likely to experience MB learning; and that mere communication does not account for MB learning. An insignificant link between CE and MM learning was found. This study deepens our understanding about IS–user interactions. Limitations of the current research and implications for future research are discussed.
The Equity Premium

We estimate the equity premium using dividend and earnings growth rates to measure the expected rate of capital gain. Our estimates for 1951 to 2000, 2.55 percent and 4.32 percent, are much lower than the equity premium produced by the average stock return, 7.43 percent. Our evidence suggests that the high average return for 1951 to 2000 is due to a decline in discount rates that produces a large unexpected capital gain. Our main conclusion is that the average stock return of the last half-century is a lot higher than expected. THE EQUITY PREMIUM—the difference between the expected return on the market portfolio of common stocks and the risk-free interest rate—is important in portfolio allocation decisions, estimates of the cost of capital, the debate about the advantages of investing Social Security funds in stocks, and many other applications. The average return on a broad portfolio of stocks is typically used to estimate the expected market return. The average real return for 1872 to 2000 on the S&P index ~a common proxy for the market portfolio, also used here! is 8.81 percent per year. The average real return on sixmonth commercial paper ~a proxy for the risk-free interest rate! is 3.24 percent. This large spread ~5.57 percent! between the average stock return and the interest rate is the source of the so-called equity premium puzzle: Stock returns seem too high given the observed volatility of consumption ~Mehra and Prescott ~1985!!. We use fundamentals ~dividends and earnings! to estimate the expected stock return. Along with other evidence, the expected return estimates from fundamentals help us judge whether the realized average return is high or low relative to the expected value. The logic of our approach is straightforward. The average stock return is the average dividend yield plus the average rate of capital gain:
Cross‐Sections Are History

Cross Sections Are History Although cross section relationships are often taken to indicate causation, and especially the important impact of economic growth on many social phenomena, they may, in fact, merely reflect historical experience, that is, similar leader-follower country patterns for variables that are causally unrelated. Consider a number of major advances (“revolutions”) in the human condition over the past four centuries – material living levels, life expectancy, universal schooling, political democracy, empowerment of women, and the like. Suppose that each has its own unique set of causes, and, as a result, a unique starting date and a unique rate of diffusion throughout the world. Suppose too that initially all countries are fairly closely bunched together on each variable in fairly similar circumstances. Suppose, finally, that the geographic pattern of diffusion is the same for each aspect of improvement in the human condition, that is, the same group of countries have a head start, and the follower countries in the various parts of the world fall in line in a similar geographic order. The result will be statistically significant international cross section relationships among the various phenomena, despite their being causally independent. The oft-reported significant crosscountry relationships of many variables to economic growth may merely demonstrate that one set of countries got an early start in virtually every “revolution”, and another set, a late start. JEL Classification: C2, O10, O57, J11, N0, I0
Pleading and Proof: The Economics of Legal Burdens

Courts have traditionally assigned burdens of pleading and burdens of proof by mechanically applying any of a number of meaningless "tests." Conventional doctrine assigns these burdens to the party to whose case the issue in question is "essential," or to the party who must establish the "affirmative proposition." Neither of these tests provides a coherent methodology for making such allocations. The first is circular-an issue is "essential" by virtue of the fact that the party has been assigned the burden. The latter is unworkable; it depends on accidents of syntax and may be easily manipulated.This Article attempts to fill this analytical void by employing economic analysis to provide a framework for allocating burdens of pleading and proof. The Article analyzes procedural rules on burdens of pleading and burdens of proof under a framework of cost minimization; the goal is to explain the law's allocations of burdens as attempts to minimize social costs.Part I introduces the economic framework to be employed throughout the Article. Part II utilizes the model to derive some economic justifications for the basic system of pleading under current law; it offers a rationale for the default rule that assigns the burden of pleading on most issues to plaintiffs and suggests two theories for the law's deviations from the default rule (i.e., affirmative defenses). Part III follows the same pattern in the context of burdens of proof-it first makes the economic case for the default rule and then outlines several economic justifications for affirmative defenses. Both sections illustrate the economic theory with specific applications under current law.Part IV sharpens the distinction between the different economic functions performed by burdens of pleading and burdens of proof by analyzing two areas in which the law has departed from the traditional rule that the burden of proof follows the burden of pleading. Finally, Part V attempts to synthesize the analysis developed throughout the Article by returning to the issue of "business necessity" and applying the economic model to the decision of where to allocate the burden of pleading and burden of proof in Title VII disparate impact claims.
Fail-Safe Federalism and Climate Change: The Case of U.S. and Canadian Forest Policy

Recent research demonstrates the difficulties that federal systems of government may present for international treaty formation, a prime example being legally binding treaties aimed at harnessing global forests to regulate climate change. Some federal constitutions, such as the U.S. and Canadian constitutions, grant subnational governments virtually exclusive direct forest management regulatory authority for non-federally owned forests. With subnational governments controlling sixty-five percent of forests in the United States and eighty-four percent in Canada, the U.S. and Canadian federal governments may be constrained during international negotiations and unable to legally bind subnational governments to any agreement prescribing methods of utilizing these forests to combat climate change. These constraints are especially important since these two countries control fifteen percent of the world’s forests. Decentralized forest policy in the U.S. and Canada certainly provides valuable benefits. Yet constitutional decentralization in federal systems should be more effectively balanced with global forest governance if that mechanism for addressing climate change is to be preserved in its most flexible form. Though a binding agreement has yet to materialize, and other increasingly touted mechanisms may be utilized to tackle climate change, it is imperative that world governments maintain every legal and policy tool at their disposal to address the problem. A recent comparative constitutional analysis of five federal systems controlling fifty-four percent of global forests determined that the United States and Canada lack two of the three key elements of federal constitutional structure that best facilitate a federal nation’s ability to enter into and successfully implement an international climate agreement including forests while also preserving the recognized benefits of decentralized forest policy. This Article addresses how these constitutional deficiencies might be remedied to achieve more effective climate and forest governance. In other words, the Article explores mechanisms for establishing “Fail-safe Federalism” for forest management in the United States and Canada, by first highlighting the domestic nuances of both constitutional structure and forest policy in the two countries and next assessing whether top-down, bilateral, horizontal, or transnational approaches are the most effective mechanisms for forging Fail-safe Federalism within each.
Health, inequality, and economic development

I explore the connection between health and inequality in both poor and rich countries. My primary focus is on the relationship between income inequality and mortality, but I also discuss the effects of inequalities in other, often more important, dimensions. I discuss a range of mechanisms, including nonlinear income effects, credit restrictions, nutritional traps, public goods provision, and relative deprivation. I review the evidence on the effects of income inequality on the rate of decline of mortality over time, on geographical pattens of mortality, and on individual-level mortality. Much of the literature, both theoretical and empirical, needs to be treated skeptically, if only because of the low quality of much of the data on income inequality. Although there are many remaining puzzles, I conclude that there is no direct link from income inequality to mortality; individuals are no more likely to die or to report that they are in poor health if they live in places with a more unequal distribution of income. The raw correlations that are sometimes found are likely the result of factors other than income inequality, some of which are intimately linked to broader notions of inequality and unfairness. That income inequality itself is not a health risk does not deny the importance for health of other inequalities, nor of the social environment. Whether income redistribution can improve population health does not depend on the existence of a direct link between income inequality and health and remains an open question.
The economics of terrorism

This paper treats terrorism as an economic phenomenon—as a way to understand it and to control it. It uses the tools of substitution, innovation, and cycles and concludes by noting the importance of intelligence and that the most valuable approach to defeating terrorism is that of denying resources to the terrorists rather than attempting to protect assets at risk. It notes that we are probably not any safer than before the implementation of the post–9/11 strategies and emphasizes that new initiatives must be undertaken to prevent terrorist use of weapons of mass destruction.
Audit Partner Disclosure: An Experimental Exploration of Accounting Information Contagion

ABSTRACT: We explore potential effects of a new Public Accounting Oversight Board (PCAOB) rule that requires disclosure of the external audit partner's identity. By manipulating the presence or absence of audit partner disclosure (APD), we examine how investors might react to APD and the mechanism behind such reaction. We find that prospective investors are less likely to invest in a peer firm linked to a restating firm via APD than when the link is only through an audit firm and industry. This effect is mediated by investors' restatement likelihood assessments. Our study makes several contributions. First, we add empirical evidence to the emerging debate on the impact of APD to U.S. markets. Second, we experimentally demonstrate investor information contagion and provide support for one mechanism (speculated by archival-based literature) through which it works. Finally, we provide evidence that investors attribute more blame to partners for a negative outcome due to APD. JEL Classifications: M42; M48.
Differentiated Bidders and Bidding Behavior in Procurement Auctions

Abstract Why do bidders in buyer-determined procurement auctions often bid above the lowest observed bid over the course of the auction? Are such bidding patterns meaningful? In this research, the authors propose that because bidders are differentiated in their value to the buyer and competition in these auctions is anonymous, bidders infer their potential quality advantage or disadvantage through their observation of competitive bids and incorporate this information into their responses and price bids. Using point-by-point bid data from two industrial procurement auctions, the authors show that bidders appear to be making inferences about their own implied quality differentials and adjust their bidding strategies and bidding aggression accordingly. Specifically, they find that high-quality bidders tend to be more aggressive in bidding against potentially higher-quality competition and less aggressive when bidding against potentially lower-quality competition. In contrast, low-quality bidders appear aggre...
Automobiles on steroids: Product attribute trade-offs and technological progress in the automobile sector

New car fleet fuel economy, weight and engine power have changed drastically since 1980. These changes represent both movements along and shifts in the fuel economy/weight/engine power production possibilities frontier . This paper estimates the technological progress that has occurred since 1980 and the trade-offs that manufacturers and consumers face when choosing between fuel economy, weight and engine power characteristics. The results suggest that if weight, horsepower and torque were held at their 1980 levels, fuel economy for both passenger cars and light trucks could have increased by nearly 50 percent from 1980 to 2006; this is in stark contrast to the 15 percent by which fuel economy actually increased. I also find that once technological progress is considered, meeting the CAFE standards adopted in 2007 will require halting the observed increases in weight and engine power characteristics, but little more; in contrast, the standards recently announced by the new administration, while certainly attainable, require non-trivial downsizing . I also investigate the relative efficiencies of manufacturers. I find that US manufacturers tend to be above the median in terms of their passenger vehicle fuel efficiency conditional on weight and engine power, and are among the top for light duty trucks; Honda is the most efficient manufacturer for both passenger cars, while Volvo is the most efficient manufacturer of light duty trucks. However, I also find that over time, US manufacturers' relative efficiency in both passenger cars and light trucks has degraded. These results may provide insight into their current financial troubles.
Violence Between Lovers, Strangers, and Friends

The conventional wisdom in criminal law is that violence between strangers is a more serious crime than violence between individuals who know one another. When asked about their crime concerns, most people respond that they fear becoming the victim of a violent crime at the hands of a stranger. Yet more violent crimes occur between people who are intimate partners, family members, friends, or acquaintances than between strangers. This Article identifies and examines arguments in favor of treating stranger violence more seriously, and it concludes that none of the arguments justifies the unequal treatment of stranger and non-stranger violence. The Article also identifies several affirmative reasons why violence in close personal relationships might be considered more serious than stranger violence. Ultimately, the Article concludes that non-stranger violence should be treated just as seriously as stranger violence, and it briefly explores a few practical challenges associated with the prevention and punishment of violence between non-strangers.
“To Remand, or Not to Remand”: Ventura’s Ordinary Remand Rule and the Evolving Jurisprudence of Futility

Presumably few federal appellate judges are confronted with the Danish prince’s existential angst: “To be, or not to be: that is the question. . . .” Nonetheless, a similar ambivalence may be present in the circumstance of judicial review of administrative agency decisions. No less eminent an authority than former Second Circuit Judge Henry Friendly expressed just such angst in the introduction to his 1969 Duke Law Journal article, in which he attempted to discern bright-line rules in the Supreme Court’s 1943 SEC v. Chenery decision: “Although when I began my labors, I had the hope of discovering a bright shaft of light that would furnish a sure guide to decision in every case, the grail has eluded me; indeed I have come to doubt that it exists. Determination when to reverse and remand a decision that an administrative agency had power to make, and sufficient evidence to support, is, I fear, perhaps more art than science.” The nature and scope of judicial review of administrative decisions has taken on increasing importance as the size of the administrative state has grown and the number of administrative adjudicators has multiplied. As one commentator has noted, “[j]udicial review of administrative agency decisions is one of the cornerstones of the modern administrative law system[,] . . . although the nature and scope of judicial review, and the authority of the courts to dispose of these matters reflect a variety of approaches. . . .” To a large degree, the question of whether and in what circumstances remand to the agency rather than a judicial decision in the first instance is required is still resolved with at least su-
Executive Pay Inefficiencies In The Financial Sector

This study considers the implications of excessive non-salary-based executive pay on capital structure during the years 2005 through 2007, directly preceding the 2008 stock market crash. The hypothesis proposes that for firms in the financial sector, executives awarded generous compensation packages, compared to salary, implemented a higher use of debt in their firm’s capital structure. The study examines data on 40 firms in the financial sector and 40 firms in the manufacturing sector to empirically test for a relationship between executive pay and leverage. Cross-sectional analysis of nine models reveals that compensation is a significant determinant of a firm’s total debt-to-total assets ratio for the financial sector, especially with the existence of a one- to two- year lag between the variables, while the manufacturing sector yielded no significant relationship. These findings reveal sources of agency conflicts and behavioral biases within the financial sector during the three years preceding the financial collapse.
Is it Risk? Explaining Deviations from Uncovered Interest Parity

Abstract This paper analyzes ex ante returns to forward speculation and asks if these returns can be explained by models of a foreign exchange risk premium. After presenting evidence that both nominal and real expected speculative profits are nonzero, the paper examines if real returns to forward speculation are consistent with consumption-based models of risk premia. Estimates of the conditional covariance between real speculative returns and real consumption growth are presented and, like ex ante returns to forward speculation, they exhibit statistically significant fluctuations over time and often change sign.
Criteria for corporate venturing: Importance assigned by managers

Abstract Little is known about what really makes ventures succeed or fail and therefore, what one should consider when deciding whether or not to back a corporate venture. What is required are many more systematic studies of the venturing process. In this study we look at one small part of the process; the way in which managers go about evaluating a venture and what importance they attach to the various criteria they use to assess corporate ventures as they decide whether or not to support them. The other issue of interest is whether, with venture decision-making experience, there is a shift in the importance of criteria. Do managers inexperienced in venturing, start off with one set of weightings on criteria and then learn by experience to weigh criteria differently? Nearly every venture decision will be reviewed or have to pass some form of limited approval by, or get logistical support from, at least some managers who may be inexperienced. The degree of their support and approval will depend on the inexperienced managers' model of what constitutes an appropriate venture. Therefore, it is important to study both the novice and the experienced venture manager. This study used conjoint measurement procedures to quantify the importance of several factors to managers making go/no-go decisions as to whether they would support a series of hypothetical corporate ventures. The results indicate that there is a very high correlation between the judgements of inexperienced managers and those that have had some involvement in venture decision making. In virtually every case the direction of the preference for levels is identical. The effect of experience is not to change the model that the manager uses, but rather to crystallize the preferences and tradeoffs involved. The most interesting result was the overriding importance attached to corporate fit. The message is clear: do not expect support from any managers, inexperienced or otherwise, if there is no perceived fit between the firm and the venture. There were also relatively high levels of importance attached to seven other variables: size of investment, presence of an experienced venture champion, corporate experience with product, low threat of competition, utilization of proprietary technology, rate of return, and gross margin. For the sample in this study an optimal venture proposal can be described via the following criteria: • High corporate fit • Low initial investment • Experienced venture champion • Experience with product/service • Low competitive threat • Proprietory technology • High gross margin • High rate of return
The Appointment of General Yaron: Continuing Impunity for the Sabra and Shatilla Massacres

General Amos Yaron was appointed, in 1999, to serve as the head of Israel's Defense Ministry. Prior to his appointment, the United States name him military attache in 1986, which caused survivors of 1986 massacre of Palestinians to file a complaint, in the District of Columbia District Court, that alleged Yaron violated customary international law, U.S. treaties, and statutes incorporating international customary international law into U.S. law. Yaron’s rise through Israel's Defense Ministry allowed him to evade responsibility, which violated international law. This article, by Linda Malone, explores prohibition of such immunity under international law.
Procedures and Remedies Under Section 504 and the ADA for Public School Children with Disabilities

Much has been written about procedures and remedies under the Individuals with Disabilities Education Act, but few scholars have explored procedural rights and corresponding mechanisms of administrative and judicial relief for victims of public schools’ violations of children’s rights under section 504 of the Rehabilitation Act of 1973 and title II of the Americans with Disabilities Act. This paper will discuss the administrative procedures that must be followed in hearings regarding complaints of violations of those laws by public school districts and the relief that hearing officers and courts may provide. It will begin with an update on developments regarding eligibility and substantive protections under section 504 and title II, then take up administrative process matters, including hearing officer impartiality, demands to examine and cross-examine witnesses, and judicial review of administrative decisions. Finally, it will consider remedies that may be ordered by hearing officers and courts. This paper builds on the earlier research of the author and of other writers, who have developed theories about how section 504 and title II should be applied to students in public elementary and secondary schools. Recent developments, most significantly the ADA Amendments Act and the Mark H. litigation in the Ninth Circuit, will have a major effect on section 504 and title II cases. However, the Amendments Act and the Mark H. decisions are merely the starting point for a new area of legal development that may have great significance for the administrative law judiciary.
Paradoxes, Gedanken Experiments and the Burden of Proof: A Response to Dr. Cohen's Reply

This article responds to L. Jonathan Cohen's critique of the author's position regarding the problem of naked statistical evidence. Cohen argues that the kind of probability at work in litigation does not conform to the axioms of mathematical probability. The author responds by suggesting that the familiar theory of probability needs no revision to account for the reluctance of a few courts to permit plaintiffs to prevail on the strength of background statistics alone. One need not adopt Dr. Cohen's esoteric mathematical structure to explain the burden of proof in civil cases. The article shows that whether or not one accepts the subjective interpretation of probability, nothing in Cohen's most recent paper establishes that forensic probabilities are incommensurable with the usual mathematical axioms. It also considers Cohen's claim that the subjective interpretation is a dangerously inappropriate paradigm for the courts.
Efficient contracting and the choice of accounting method in the oil and gas industry

Abstract This paper's results are consistent with the choice of accounting method in the oil and gas industry being dominated by measurable characteristics of firms and guided by the principles of efficient contracting. The results are inconsistent with an alternative hypothesis, opportunistic behavior by managers. The efficient contracting explanation is also consistent with the empirical findings from earlier studies; [e.g., Lilien and Pastena (1982) and Deakin 1979)].
Protection for Sale and Trade Liberalization: an Empirical Investigation

The paper uses Grossman and Helpman's "protection for sale" model (1994) to analyze the process of trade liberalization that has occurred in Australia. First, this paper verifies that the predictions of the "protection for sale" model are consistent with the data. Then, it analyzes the endogenous dimension of the Australian experience of trade liberalization. The estimated structural parameters imply that the process of trade liberalization has been driven by increases in both the fraction of the voting population represented by lobbies, and the government's relative valuation of welfare (the former playing the more prominent role). © Blackwell Publishing Ltd 2004.
Is Fairness in the Eye of the Beholder? An Impartial Spectator Analysis of Justice

A popular sentiment is that fairness is inexorably subjective and incapable of being determined by objective standards. This study, on the other hand, seeks to establish evidence on unbiased justice and to propose and demonstrate a general approach for measuring impartial views empirically. Most normative justice theories associate impartiality with limited information and with consensus, i.e., a high level of agreement about what is right. In both the normative and positive literature, information is usually seen as the raw material for self-serving bias and disagreement. In contrast, this paper proposes a type of impartiality that is associated with a high level of information. The crucial distinction is the emphasis here on the views of impartial spectators, rather than implicated stakeholders. I describe the quasi-spectator method, i.e., an empirical means to approximate the views of impartial spectators that is based on a direct relationship between information and consensus, whereby consensus refers to the level of agreement among actual evaluators of real world situations. Results of surveys provide evidence on quasi-spectator views and support this approach as a means to elicit moral preferences. By establishing a relationship between consensus and impartiality, this paper seeks to help lay an empirical foundation for welfare analysis, social choice theory and practical policy applications.
Innocence, Privacy, and Targeting in Fourth Amendment Jurisprudence

Innocence, Privacy, and Targeting in Fourth Amendment Jurisprudence offers a theory of the Fourth Amendment that incorporates valuable elements of two diametrically opposed approaches to the right against unreasonable searches. One approach says that only the innocent should benefit from this right, and the other says that innocence is completely irrelevant to the right. Colb proposes that innocence is highly relevant to one’s entitlement to privacy, the right against unreasonable searches, but that the guilty are entitled by the Fourth Amendment to be free of targeted intrusions that are unsupported by facts known to law enforcement, ex ante. When police search culpably – in the absence of a legitimate ex ante evidentiary basis for doing so – they thus inflict a “targeting harm,” a type of procedural harm that occurs regardless of the target’s guilt or innocence. At the same time, innocent people uniquely suffer a “privacy harm” when their innocent privacy is invaded, regardless of police officers’ ex ante reasonableness and the corresponding lack of any governmental culpability. Colb’s “Innocence Plus Targeting” account of the Fourth Amendment accommodates powerful intuitions about police misconduct as well as about the injustice that many perceive in the suppression of incriminating evidence turned up during an unreasonable search. The Article concludes with implications of this model for Fourth Amendment law, remedies, and areas of doctrine outside the Fourth Amendment as well.
An economic rationale for public education: The value of commitment

Abstract This paper offers an explanation for the widespread phenomenon of uniform public schooling, which is viewed here as a way for the government to precommit itself to restraints on future income redistribution. Such precommitment is likely to enhance accumulation of human capital, to bolster economic growth, and, under certain circumstances, to constitute a preferred choice for a majority of voters.
The development of the Dutch national accounts as a tool for analysis and policy

Since the start of modern national accounting in the 1930s, the Netherlands has played a dominant role in the development of the national accounts. This paper discusses the origins and development of the Dutch national accounts. This includes the surprisingly slow start of political arithmetic in the Netherlands, the views of van Cleeff and Tinbergen on planning and national accounting, the role of Derksen and Oomens as fathers of the Dutch national accounts, the Dutch school of national accounting, the interaction with national statistics and the role of the international guidelines and the European Union. The paper takes also a look into the future. The major challenges are to bridge the gap with data users and to increase relevance by e.g. extended accounts, long term time series on government finance and modules on education, health care and social security.
Inflation Persistence Before and After Inflation Targeting: A Fractional Integration Approach

We investigate the persistence in the inflation series for 13 OECD countries that explicitly adopted an inflation targeting (IT) regime before 1992. Mean reversion and stationarity as well as mean reversion and non-stationarity exist in the pre-IT period, while mean reversion and stationarity characterize the post-IT period. Inflation exhibits fractional integration behavior over the entire sample period, the pre-IT period, and, in most cases, also in the post-IT period. The adoption of IT coincides with a structural break in all inflation series and marks a decrease in the point estimates of inflation persistence in most countries.
The Great Transformation. Administrative and Judicial Enforcement in Consumer Protection: A Remedial Perspective

Consumer protection and its enforcement have become an important part of both market design and regulation. Increasing levels of world trade call for integrated policies with the adoption of framework, bilateral and trilateral, agreements between the European Community, the U.S. and Asia, particularly India and China. But how different are still the regional institutional frameworks? How is the evolution of each region dependent upon the developments of other areas? Are we observing a coevolutionary pattern of growth, or is regulatory competition the dominant feature of the relationship between different regional legal systems of consumer protection enforcement? In order to answer these questions one needs to examine the important legislative changes occurring both in Europe and in the U.S. Both ‘regions’ are reshaping their global policies, redefining the balance between private and public enforcement. Changes are made looking not only inside their legal systems but also at the global level. Existing differences presumably require complex solutions, integrating regional and global regulatory frameworks for consumer protection in a new multilevel system. The relationship between public and private enforcement has changed in different ways. Relevant transformations have taken place in the domain of public enforcement, rethinking the regulatory strategies concerning consumer enforcement. Private enforcement in aggregate forms has only recently entered the scene in Europe. Its evolution has not always been entirely consistent. While it is clear that aggregate litigation will complement administrative enforcement in consumer protection, the rationales for its use may differ across sectors.
THE SPECIES PROBLEM AND ITS LOGIC:Inescapable Ambiguity and Framework-relativity

For more than fifty years, taxonomists have proposed numerous alternative definitions of species while they searched for a unique, comprehensive, and persuasive definition. This monograph shows that these efforts have been unnecessary, and indeed have provably been a pursuit of a will o' the wisp because they have failed to recognize the theoretical impossibility of what they seek to accomplish. A clear and rigorous understanding of the logic underlying species definition leads both to a recognition of the inescapable ambiguity that affects the definition of species, and to a framework-relative approach to species definition that is logically compelling, i.e., cannot not be accepted without inconsistency. An appendix reflects upon the conclusions reached, applying them in an intellectually whimsical taxonomic thought experiment that conjectures the possibility of an emerging new human species.
Revisiting “The Fallacy of Free Trade”

The paper examines results presented by Batra in an article entitled “The Fallacy of Free Trade” (Review of International Economics 1(1) (1992): 19–31). Batra contends that technical change in Japanese manufacturing necessarily reduces US real wages in the confines of a two-good, two-country Ricardo-Viner model. A parsimonious empirical Ricardo-Viner model is constructed to analyze the same issue. It is found that the impact on US real wages is very small. Systematic sensitivity analysis shows that increases in the ral wage are as likely as decreases. It is concluded that Batra’s assertions are empirically unlikely.
Learning in Sequential Auctions

of informational effects. It is shown that bidders who are aware of informational effects place lower bids on average and hence have higher payoffs. Properties of the equilibrium price path are studied. Regardless of the outcome of the first auction, the second price is expected to be equal to the first price. Despite this, the probability of a decreasing price sequence depends on the information generated in the first auction. Finally, it is shown that a simultaneous auction, in which informational effects are absent, yields the same expected final allocation as the equilibrium.
Create Your Own Constitutional Theory

Critics of constitutional pragmatism, such as Professor Fallon, argue that courts should not decide constitutional cases simply by asking what outcome is best, all things considered. Such an approach, the critics contend, does not permit constitutional adjudication to advance values associated with democracy, the rule of law, and individual rights. This Reply to Professor Fallon's article in this issue argues that the critics are right to reject pure adjudicatory instrumentalism, but that a different conception of pragmatism should inform constitutional interpretation. Early twentiethcentury American philosophers used the term pragmatism to mean understanding a practice by participating in it rather than theorizing about it. Applied to constitutional law, this notion of pragmatism-as-contextualism makes instrumentalism safe for interpretation, for it allows instrumental considerations to be weighed within the felt-but-difficult-to-define constraints imposed by constitutional practice. In endorsing constitutional pragmatism-as-contextualism, this Reply challenges Professor Fallon's suggestion that judges and constitutional scholars should "choose" constitutional theories that they then use to resolve concrete disputes. Instead, this Reply argues that theories of constitutional interpretation emerge from considered, contextual judgments about particular cases.
Unpacking functional alliance portfolios: How signals of viability affect young firms' outcomes

This article investigates how alliance portfolio composition affects young firms' outcomes. Drawing on signaling theory, we propose how alliance portfolio composition�number, functional domains (R&D, manufacturing, and marketing), and single-purpose or multi-purpose nature of alliances within the portfolio�may affect a firm's likelihood of achieving a liquidity event (IPO or acquisition). We study 8,600 U.S.-based, VC-backed firms during the period of 1990 to 2002 from 10 industry sectors. We find that alliance portfolios (to a certain extent) increase a firm's liquidity event likelihood. Further, firms with heterogeneous alliance portfolios, including portfolios emitting greater efficiency signals versus endorsement signals, are more likely to experience an IPO versus acquisition. Our findings lend support to the value of multi-function alliances within portfolios.
Some Realism About the Free-Speech Critique of Copyright

ion, but that tactic would boil down to this blunter version, which makes it easier to see that it is part ad hominem and part non sequitur. Nevertheless, I can see the appeal of part of the argument. A rights holder who does not try to control the meaning of a work, but instead agrees to any use so long as the money is right, seems less interested in contributing a distinct message to public debate than do the trustees of the Mitchell estate. I could imagine arguments along this line for 131. Professor Tushnet makes pretty much this accusation. Tushnet, supra note 16, at
Chipping Away at the Glass Ceiling: Gender Spillovers in Corporate Leadership

This paper examines the role of women helping women in corporate America. Using a merged panel of directors and executives for large U.S. corporations between 1997 and 2009, we find a positive association between the female share of the board of directors in the previous year and the female share among current top executives. The relationship’s timing suggests that causality runs from boards to managers and not the reverse. This pattern of women helping women at the highest levels of firm leadership highlights the continued importance of a demand-side “glass ceiling” in explaining the slow progress of women in business.
Overriding consumer preferences with energy regulations

The recent wave of enacted and proposed U.S. energy regulations imposes energy efficiency standards on light bulbs, appliances, and motor vehicles based on the unsupported assumption that consumers and firms are irrational and that energy efficiency should be the paramount concern. The regulatory analyses do not document these purported failures in consumer choices or firms’ energy utilization decisions with any empirical evidence. The preponderance of the benefits that agencies claim for the regulations is derived from private benefits to consumers and firms attributable to lower energy costs. Without these benefits, the regulatory costs would greatly exceed the benefits. The regulatory analyses consider only mandates as a means of achieving energy-efficiency improvements and ignore other policy options.
Product quality, firm heterogeneity and trade liberalization

This paper develops a framework for studying the general equilibrium effects of endogenous quality upgrading, a new margin of trade, on the welfare impact of trade liberalization. The theoretical model introduces product quality differentiation amongst heterogeneous firms and focuses on supply-side determinants of international trade. Among other results, in general equilibrium, trade liberalization decreases the share of high-quality varieties in exports and the average productivity of exporters. These changes affect average export price in opposite ways. Nevertheless, trade liberalization in the quality-extended model increases consumers’ welfare by more than in the benchmark model.
Building Bond Repayment Capacity in Developing Countries: A Study on Property Tax Collections and Debt Affordability in Mexico

This article uses a multinomial regression model to analyze the bond repayment capacity of issuers of municipal bonds in Mexico. The study emphasizes the role that property and land-based taxes have in the enhancement of repayment capacity, as these are highly underutilized levies with important revenue raising potential. The findings show that there is no statistically significant link between these taxes and the chosen proxy for repayment capacity. This follows from an institutional and legal framework that creates an artificial environment of fiscal solvency. The Mexican case is instructive on how not to create a subnational bond market.
Are Marine National Monuments Better Than National Marine Sanctuaries? U.S Ocean Policy, Marine Protected Areas, and the Northwest Hawaiian Islands

Since at least the 1996 Sustainable Fisheries Act amendments to the Magnuson-Stevens Fisheries Conservation and Management Act, the United States has, at least nominally, been pursuing a policy of sustainable management of fisheries. Nevertheless, concerns about the status of marine fisheries remain, and both the Pew Oceans Commission (2003) and the U.S. Commission on Ocean Policy (2004) recommended that the United States use more marine protected areas and marine reserves to restore these fisheries and better maintain sustainable harvests. A variety of legal mechanisms exist in federal law to establish marine protected areas. This article provides an initial instrument choice analysis of these various legal vehicles for establishing marine protected areas and marine reserves in the United States, using the history of the protection of Northwestern Hawaiian Islands coral reef ecosystem as an illustration of the advantages and disadvantages of each. The article concludes that, if the United States decides to establish a national system of marine protected areas to enhance the sustainability of its marine fisheries, legislation that incorporates some of the advantages of the Antiquities Act may be an appropriate choice.
Psychiatric Restraint and Seclusion: Resisting Legislative Solution

The use of restraint and seclusion in the American psychiatric setting has a rich history - rich in medical, ethical, legal, and social controversy. For centuries, mental health care providers used movement restrictions and solitary confinement to manage psychiatric patients. Superintendents of eighteenth and early nineteenth century insane asylums and other institutions of confinement believed that strait-waistcoats, "tranquilizer chairs," "maniac beds," chains, shackles, and "quiet rooms" deescalated agitation and promoted self-control. Reforms beginning in the nineteenth century helped make some psychiatric institutions more humane, in part because staff members were trained to find ways to calm potentially violent patients without imposing holds or isolation. With the advent of Freud’s psychoanalysis, advances in microbiology in the late nineteenth and early twentieth centuries, as well as the explosion of psychotropic drugs in the latter half of the twentieth century, many traditional uses of restraint and seclusion became unnecessary. Federal and state legislatures and administrative agencies responded to these philosophical, scientific, and medical developments by restricting restraint and seclusion to emergency situations and forbidding their imposition as a means of coercion, discipline, or convenience.Although restraint and seclusion are used less frequently in the twenty-first century, they persist as methods of behavior management. A number of recent injuries and deaths associated with these interventions have refueled the dialogue regarding their appropriate use, bringing centuries old questions to the fore. Some stakeholders, who believe that the use of restraint and seclusion are evidence of patient warehousing, institutional abuse and neglect, and human rights violations, support legislation that would further reduce restraint and seclusion use or eliminate it altogether. Other stakeholders, who believe that restraint and seclusion can be used to prevent violent or assaultive patients from harming themselves and others, are questioning the scientific basis, cost, and feasibility of restraint-and-seclusion-free initiatives. In recent legislative sessions, federal and state lawmakers have attempted to respond to these seemingly irreconcilable concerns. Many commentators believe that heightened awareness of inappropriate restraint and seclusion practices and more intense education and regulation will resolve these concerns. I argue instead that the psychiatric restraint and seclusion controversy resists legislative solution because it is a function of more fundamental problems relating to mental health care access and finance. The controversy persists because of these practical problems, and because the use of restraint and seclusion implicate seemingly competing goals of patient safety and individual autonomy and, more broadly, the philosophical doctrines of legalism and medicalism.