cssi/SciSciGPT-SciSciNet huggingface dataset:
Network Neutrality, Search Neutrality, and the Never-ending Conflict between Efficiency and Fairness in Markets

Historical precedents suggest that the basic issues underlying the debate about network neutrality, dealing with the balance between efficiency and fairness in markets, will never be resolved. Should net neutrality dominate, attention would likely turn to other parts of the economy that might be perceived as choke points for economic activities, such as Net search. Traditionally, the balance between efficiency and fairness that was struck by policy makers depended heavily on cost considerations. When a service was expensive to provide, fairness was deemphasized. In the current discussion of network neutrality, this issue appears to be unduly neglected.
Innovation, competition, and industry structure

Abstract Why some firms die while others survive? Survival has long been recognized as a basic goal for a manufacturing firm. At least in the long term, survival should be related to various measures of performance, such as market share and profitability. Advocates of population ecology have argued that life chances of organizations are affected by population density at the time of founding. According to this argument, organizations founded during periods of intense competition will have persistently higher age-specific rates of mortality than those founded during periods with lower numbers of competitors. At least for the case of manufacturing firms, there may be more profound causes than competitive turmoil that explain a firm's survival chances. These have to do with the evolution of technology in an industry. Population density may only be a reflection of underlying driving forces based on technological change that determine the form and level of competition, the attractiveness of entry, and ultimately the structure of an industry.
Why are people more pro-trade than pro-migration?

I analyze individual attitudes towards trade and immigration in comparative terms. I find that individuals are on average more pro-trade than pro-immigration across several countries. I identify a key source of this difference: the cleavage in trade preferences, absent in immigration attitudes, between individuals working in traded as opposed to non-traded sectors.
The Implications of Visibility on the Use of Strategic Inventory in a Supply Chain

It is now widely accepted that a retailer’s use of strategic inventory can mitigate double marginalization and improve the coordination of a supply chain, potentially benefiting both the downstream...
Kennedy v. Louisiana: A Chapter of Subtle Changes in the Supreme Court's Book on the Death Penalty

This paper examines the recent decision regarding the unconstitutionality of Louisiana's death penalty punishment for certain cases of child rape. The paper explores some of the nuanced language of the opinion as it indicates sublte shifts in the Court's death penalty analysis.
OPTIMAL CAPITAL VERSUS LABOR TAXATION WITH INNOVATION-LED GROWTH

Chamley (1986) and Judd (1985) showed that, in a standard neoclassical growth model with capital accumulation and in…nitely lived agents, either taxing or subsidizing capital cannot be optimal in the steady state. In this paper, we introduce innovation-led growth into the ChamleyJudd framework, using a Schumpeterian growth model where productivity-enhancing innovations result from pro…t-motivated R&D investment. Our main result is that, for a given required trend of public expenditure, a zero tax/subsidy on capital becomes suboptimal. In particular, the higher the level of public expenditure and the income elasticity of labor supply, the less should capital income be subsidized and the more it should be taxed. Not taxing capital implies that labor must
Proof of Classwide Injury

Federal courts have recently required proof of classwide injury to certify a class action for monetary remedies. Proof of classwide injury is defined as proof, which is common to the class, that the defendant's unlawful conduct injured every member of the class. This article argues that the requirement of proof of classwide injury arises from three fallacies about the class action. The first fallacy, the "all at once" fallacy, presumes that all issues in a class action must be determined in one fell swoop. I argue that the class action is not an "all at once" trial device but a trust device that entrusts the claims to class attorney so that he or she can make optimal investments on common issues. Thus, a class action can incorporate multiple trials, or even individualized trials. The second fallacy, the "extraordinary remedy" fallacy, analogizes the class action to extraordinary remedies like the preliminary injunction. Thus, proof of classwide injury is required because it allows a court to determine the plaintiffs' likelihood of success of the merits. However, in litigation involving numerous plaintiffs, the defendant can exploit economies of scale to invest in common issues that the plaintiffs cannot utilize in the absence of the class action. Thus, class certification is required before a merits determination, not after. The third fallacy, the "individualist" fallacy, presumes that individual trials as to each plaintiff's injury are required in the absence of proof of classwide injury to avoid compensating uninjured plaintiffs. I argue that individual trials will not necessarily result in more accuracy, and, more importantly, such accuracy is of secondary importance given the deterrence function of the litigation, which only requires an accurate determination of the defendant's aggregate liability. The article concludes that class certification only requires common questions concerning liability, not common answers as to individual injury. It also suggests factors other jurisdictions should consider in adopting, designing, and implementing similar collective procedures.
Deposit Insurance Database

This paper provides a comprehensive, global database of deposit insurance arrangements as of 2013. The authors extend their earlier dataset by including recent adopters of deposit insurance and information on the use of government guarantees on banks' assets and liabilities, including during the recent global financial crisis. They also create a Safety Net Index capturing the generosity of the deposit insurance scheme and government guarantees on banks' balance sheets. The data show that deposit insurance has become more widespread and more extensive in coverage since the global financial crisis, which also triggered a temporary increase in the government protection of non-deposit liabilities and bank assets. In most cases, these guarantees have since been formally removed but coverage of deposit insurance remains above pre-crisis levels, raising concerns about implicit coverage and moral hazard going forward.
Effectively Regulating E-Cigarettes and Their Advertising--And the First Amendment.

If tobacco smoking did not exist in the United States, there would be no reason, from a public health perspective, to allow addictive, nicotine-containing e-cigarettes to be marketed and sold. Because e-cigarette use, by itself, is neither beneficial nor benign to users and nonusers, the only public health justification for allowing e-cigarettes in the existing U.S. market would be if doing so would not sustain or increase existing smoking levels but would help smokers quit completely or provide addicted smokers a less harmful way to obtain the nicotine they crave. Yet e-cigarettes are now pervasive in the U.S. market, being sold with unnecessary harmful characteristics and being advertised in ways that encourage youth experimentation and use. Unless effectively regulated, e-cigarette use will be more harmful than necessary and their advertising will work to: (a) increase initiation among both youth and non-tobacco-using adults; (b) prompt former smokers to relapse back into addicted nicotine use; (c) encourage smokers to use e-cigarettes where they cannot smoke; and (d) prompt smokers to switch to e-cigarettes instead of quitting all tobacco and nicotine use. This paper proposes a viable way to regulate e-cigarettes and their advertising both to minimize the health harms they might cause and to allow e-cigarettes to fulfill their potential as cessation aids or harm-reduction products. Normally, any efforts by FDA to establish effective advertising restrictions must accommodate considerable constraints from the First Amendment’s commercial speech protections. However, because of existing text in the Tobacco Control Act, on the effective date of the final FDA deeming rule that puts e-cigarettes under FDA’s active tobacco product jurisdiction all nicotine-containing e-cigarettes will be on the U.S. market illegally until they can obtain permissive orders from FDA. That situation should reduce applicable First Amendment constraints, providing FDA with a tremendous opportunity to place the kinds of substantial restrictions and requirements on e-cigarette advertising necessary to minimize their harmful aspects and maximize their potential to produce substantial net public health benefits.
A Mind to Blame: New Views on Involuntary Acts

This article examines the legal implications linked to recent scientific research on human consciousness. The article contends that groundbreaking revelations about consciousness expose the frailties of the criminal law's traditional dual dichotomies of conscious versus unconscious thought processes and voluntary versus involuntary acts. These binary doctrines have no valid scientific foundation and clash with other key criminal law defenses, primarily insanity. As a result, courts may adjudicate like individuals very differently based upon their (often unclear) understanding of these doctrines and the science that underlies them. This article proposes a compromise approach by recommending that the criminal law's concept of voluntariness consist of three parts: (i) voluntary acts, (ii) involuntary acts, and (iii) semi-voluntary acts. The semi-voluntary acts category, which is new, incorporates modern ideas of consciousness and also advances the law. Using some actual criminal cases, this article applies this new three-part grouping and demonstrates how it enhances a more just outcome for defendants, victims, and society.
KILLINGS AT SREBRENICA, EFFECTIVE CONTROL, AND THE POWER TO PREVENT UNLAWFUL CONDUCT

This article analyses two nearly identical lawsuits regarding the actions of UN peacekeepers during the Srebrenica genocide. The decisions are of importance as a matter of international law for three reasons. First, the Court applied human rights obligations abroad, not by holding that the relevant treaties have extraterritorial effect, but by finding the ICCPR to have been incorporated into the domestic law of the host state (Bosnia and Herzegovina) and determining that the standards codified in the relevant provisions of the ICCPR and ECHR were rules of customary international law that were binding extraterritorially (whether or not the treaty obligations themselves would extend abroad). Second, in finding those obligations to have been breached, the Court relied on the Dutch battalion's eviction of the victims from its UN compound, not on any responsibility to protect those already outside the compound. Finally, on the issue of attribution, the Court of Appeal developed the doctrine of ‘effective control’ in several key respects. I argue that the Court was largely correct in its attribution analysis and that this may prove to be a landmark in the development of international law on attribution in such contexts. Most important among the issues addressed in the Court's discussion of attribution are its findings that: (i) the ‘effective control’ standard applies equally to the contributing state and the receiving international organization; (ii) ‘effective control’ includes not just giving orders, but also the capacity to prevent the wrongdoing; and (iii) troop-contributing states may sometimes hold that ‘power to prevent’ by virtue of their authority to discipline and criminally punish their troops for contravening UN orders.
Autonomous Brownian Motor Driven by Nonadiabatic Variation of Internal Parameters

We discuss an autonomous motor based on a Brownian particle driven from thermal equilibrium by periodic in time variation of the internal potential through which the particle interacts with molecules of the surrounding thermal bath. We demonstrate for such a motor the absence of a linear response regime: the average driving force and drift velocity are shown to be quadratic in both the frequency and amplitude of the variation. The adiabatic approximation (of an infinitely slow variation) and the leading correction to it (linear in the variation’s frequency) both lead to zero drift and are insufficient to describe the motor’s operation.
Effect of temporal spacing between advertising exposures: Evidence from online field experiments

This paper aims to understand the impact of temporal spacing between ad exposures on the likelihood of a consumer purchasing the advertised product. I create an individual-level data set with exogenous variation in ad exposure and its spacing by running online field experiments. Using this data set, I first show that (1) ads significantly increase the likelihood of the consumers purchasing from the advertiser and (2) this increase carries over to future purchase occasions. Importantly, I also find evidence for the spacing effect: the likelihood of a product’s purchase increases if it’s ads are spread apart rather than bunched together, even if spreading apart involves shifting some ads away from the purchase occasion. Accounting for the spacing effect is important to detect the effects of repeated advertising. Because the traditional models of advertising do not explain the data patterns, I build a new memory-based model of how advertising influences consumer behavior. Using a nested test, I reject the restrictions imposed by the canonical goodwill stock model (Nerlove and Arrow, Economica, 29(114):129–142, 1962), in favor of the memory-based model I propose. Additionally, I use the estimated parameters to simulate counterfactual scenarios and show that the advertisers’ profits might be lower if the features of the memory model are not accounted for.
Political Parties and Electoral Landscapes

We study the relationship between voters' preferences and the emergence of party platforms in two-party democratic elections with adaptive parties. In the model, preferences of voters and the opposition party's platform determine an electoral landscape on which the challenging party must adaptively search for votes. We show that changes in the underlying distribution of voters' preferences result in different electoral landscapes which can be characterized by a measure of ruggedness. We find that locally adapting parties converge to moderate platforms regardless of the landscape's ruggedness. Greater ruggedness, however, tempers a party's ability to find such platforms. Thus, we are able to establish a link between the distribution of voters' preferences and the responsiveness of adaptive parties.
Independence Threats, Litigation Risk, and the Auditor's Decision Process*

This study examines the effect of independence threats and litigation risk on auditors' evaluation of information and subsequent reporting choices. Using a Web-based experiment, I tracked auditors' information gathering and evaluation leading to a going-concern reporting decision. Specifically, 48 audit managers assessed client survival likelihood, gathered additional information, and suggested audit report choices. I found that auditors facing high independence threats (fear of losing the client) evaluated information as more indicative of a surviving client and were more likely to suggest an unmodified audit report, consistent with client preferences. In contrast, auditors facing high litigation risk evaluated information as more indicative of a failing client and were more likely to suggest a modified audit report. In addition, the association between risk and report choice was fully mediated by final information evaluation. This suggests that it is unlikely that different reporting choices resulted from a conscious choice bias, but rather that motivated reasoning during evidence evaluation plays a key role in the effect of risk in auditor decision making.
WaveGrad: Estimating Gradients for Waveform Generation

This paper introduces WaveGrad, a conditional model for waveform generation which estimates gradients of the data density. The model is built on prior work on score matching and diffusion probabilistic models. It starts from a Gaussian white noise signal and iteratively refines the signal via a gradient-based sampler conditioned on the mel-spectrogram. WaveGrad offers a natural way to trade inference speed for sample quality by adjusting the number of refinement steps, and bridges the gap between non-autoregressive and autoregressive models in terms of audio quality. We find that it can generate high fidelity audio samples using as few as six iterations. Experiments reveal WaveGrad to generate high fidelity audio, outperforming adversarial non-autoregressive baselines and matching a strong likelihood-based autoregressive baseline using fewer sequential operations. Audio samples are available at https://wavegrad-iclr2021.github.io/.
Colonialism and Constitutional Memory

The United States shares a number of basic traits with various British settler societies in the non-white world. These include longstanding histories in which colonists and their descendants divided legal, political, and economic rights between insiders and subordinated outsiders, be they expropriated indigenous groups or racial minorities. But Americans rarely think of themselves as part of an imperial family of settler polities and instead generally conceive of the country as quintessentially anti-imperial and inclusive. What explains this fact and what are its political consequences? This essay, prepared for the Third "Law As..." Symposium, offers an initial response, arguing that a significant reason is the symbolic power of the American Federal Constitution in sustaining a particular narrative of the country as free and equal from the founding. Although this creedal narrative has played a powerful and productive role in creating a more inclusive national community, it has also, paradoxically, made it more difficult for Americans to appreciate the country’s colonial underpinnings and thus to address specific structural grievances. In developing these claims, the essay first explores how universalistic accounts of national identity and constitutional meaning began to take political hold with the country’s emergence onto the global stage following the Spanish-American War. It then analyzes the unacknowledged contemporary costs of creedal narratives by recovering a tradition of radical black critique, which viewed the dominant national identity as truncating dilemmas of race in part by deemphasizing the need for material restitution and symbolic rupture.
Chile's Trade and Regional Integration Policy: An Assessment

This paper examines the economics, politics and political economy of Chile's trade and regional integration (RI) policies, and reaches the following conclusions. First, Chile is likely to obtain static and dynamic benefits from a free trade agreement (FTA) with the US, though the benefits depend crucially on the extent to which its market access to the US improves and on the costs of implementing the intellectual property rights agreement and of enforcing the rules of origin. Second, potential benefits are more doubtful with respect to FTAs with MERCOSUR and the Andean Pact and Central American countries.Third, Chile should complement its ongoing negotiations with the EU by negotiating FTAs with key Asian countries.Fourth, Chile should bind all its tariffs at the WTO at the applied MFN uniform tariff rate. Fifth, the uniform MFN tariff should be reduced below six percent after 2003.
Costs, Institutional Mobility Barriers, and Market Structure: Advertising Agencies as Multiproduct Firms

What accounts for the diversity and limited concentration that has long characterized the organization of the advertising agency industry? This question is addressed by treating an advertising agency as a multiproduct firm. The firm's product line or service mix is defined in terms of the set of different media categories where an agency places the advertising messages that it creates on behalf of its clients. Evidence is presented indicating that the structure of demand and costs in the advertising agency industry conforms to the conditions that MacDonald and Slivinski showed were required for an industry to sustain an equilibrium with diversified firms. Building on this framework, we formulate a set of three hypotheses relating to the realization of product-specific scale and scope economies. The first two hypotheses posit that given low fixed costs and minimal entry barriers, both media-specific scale and scope economies are available and can be exploited by relatively small-size agencies. The third hypothesis suggests that large agencies may experience diseconomies of scope as a consequence of excessive diversification induced by two pervasive industry institutional phenomena: (1) “bundling” of agency services to match client demand for a mix of media advertising, and (2) “conflict policy,” which prohibits an agency from serving competing accounts and operates as a mobility constraint. Utilizing a multiproduct cost function, we estimate media-specific scale and scope economies for a cross section of 401 U.S. agencies in 1987. The results obtained support the set of three hypotheses outlined above. The paper concludes with a discussion of the implications of these findings for the restructuring currently underway in this industry.
Effects of Childcare Activities on the Duration of Self‐Employment in Europe*

This article examines the determinants of success in self–employment, with a focus on the effects of the time spent caring for children. Many public policies are designed to encourage self–employme...
Enriching the Law School Curriculum: The Rise of Transactional Legal Clinics in U.S. Law Schools

Building on the research presented in Professor Susan Jones' 1997 article, Small Business and Community Economic Development: Transactional Lawyering for Social Change and Economic Justice, one of the first scholarly articles to discuss and analyze the benefits of transactional clinics in U.S. law schools, this article discusses the surge in transactional clinics nearly two decades after Professor Jones' early work in the field. Written at a time when only a handful of business law clinics existed, Jones’ work provided a historical snapshot of the 1990s' age of welfare reform, examined how transactional clinics, like their litigation counterparts, reflect social issues and add value in promoting community economic development. Since then, transactional legal clinics have grown exponentially and today there are more than 150 transactional clinics in increasingly diverse doctrinal areas. Part I of the Article discusses the evolution of transactional clinical practice, definitions of transactional law, substantive areas of transactional clinical practice, regional distribution of these clinics and substantive legal developments in transactional law practice in the last two decades. Part II discusses skills training pedagogy and emerging scholarship in the field, along with frequently encountered ethical and practice issues such as competition with the private bar, group representation, pro bono publico services, unauthorized practice of law, multijurisdictional practice, and the proliferation of online document service providers. Part III explores the advent of new hybrid business structures such as L3Cs, benefit corporations, social purpose and flexible purpose corporations, while Part IV examines the future of clinical education, outcome design measures and assessments and program evaluation.
Technological Resources and the Direction of Corporate Diversification: Toward an Integration of the Resource-Based View and Transaction Cost Economics

This study considers how a firm's resource base affects the choice of industries into which the firm diversifies. It offers two main extensions of prior research. First, it operationalizes technological resources at a more detailed level than in prior studies, thereby enabling a more stringent analysis of the direction of diversification. This analysis shows that the predictive power of the "resource-based view of the firm" is greatly improved when resources are measured at a finer level. Second, the study integrates principles from transaction cost economics into resource-based predictions concerning diversification. In particular, it tests the common assumption that rent-generating resources are too asset specific to allow contracting. The findings point to circumstances where resources can be and are exploited through contracting rather than through diversification.
The Effect of Universal Health Insurance on Malpractice Claims: The Japanese Experience

Japanese patients file relatively few medical malpractice claims. To date, scholars have tried to explain this phenomenon by identifying "faults" in the Japanese judicial system. They look in the wrong place. Largely, the faults they identify do not exist.To explore the reasons behind Japanese malpractice claiming patterns, I instead begin by identifying all malpractice suits that generated a published district court opinion between 1995 and 2004. I then combine the resulting micro-level dataset with aggregate data published by the courts, and publicly available information on the Japanese health care industry.I locate the explanation for the dearth in claims in the patterns of Japanese medical technology, and the reason for that technology in the national health insurance program. In order to contain the cost of its universal national health insurance plan, the Japanese government has radically suppressed the price it pays for the technologically most sophisticated procedures. Predictably as a result, Japanese doctors and hospitals have focused instead on more rudimentary - and more generously compensated - care. Yet, for reasons common to many societies, Japanese patients do not sue over rudimentary care. They sue the physicians who supply the most sophisticated care. Japanese patients bring relatively few malpractice suits because the government has (for reasons of cost) suppressed the volume of the services (namely, highly sophisticated services) that would otherwise generate the most malpractice claims.
The Core Institutions that Support Strong Securities Markets

A strong securities markets rests on a complex network of supporting institutions that ensure that minority shareholders (i) receive good information about the value of a company's business, and (ii) can have confidence that a company's managers and controlling shareholders won't cheat them out of most or all of the value of their investment. A country whose laws and related institutions fail on either count cannot develop a strong stock market, forcing firms to rely on internal financing or bank financing - both of which have important shortcomings. This article explains why these two investor protection issues are critical, related, and hard to solve, and discusses which laws and institutions are most important for each. This article is an earlier and shorter version of Bernard Black, "The Legal and Institutional Preconditions for Strong Securities Markets," UCLA Law Review, vol. 48, pp. 781-855 (2001), which is available on SSRN at http://ssrn.com/abstract_id=182169
Transnational Litigation and Institutional Choice

When U.S. corporations cause harm abroad, should foreign plaintiffs be allowed to sue in the United States? Federal courts are increasingly saying no. The courts have expanded the doctrines of forum non conveniens and prudential standing to dismiss a growing number of transnational cases. This restriction of court access has sparked considerable tension in international relations, as a number of other nations view such dismissals as an attempt to insulate U.S. corporations from liability. A growing number of countries have responded by enacting retaliatory legislation that may ultimately harm U.S. interests. This Article argues that the judiciary’s restriction of access to federal courts ignores important foreign relations, trade, and regulatory considerations. The Article applies institutional choice theory to recommend a process by which the three branches of government can work together to establish a more coherent court-access policy for transnational cases.
Differential Interpretation in the Survey of Professional Forecasters

In this paper, I estimate a simple Bayesian learning model to expectations data from the Survey of Professional Forecasters. I reformulate the model in terms of forecast revisions, which allows one to abstract from differences in priors and to focus the analysis on the relationship between news and revisions. The empirical analysis shows that there is significant heterogeneity in the interpretation of news among forecasters, in particular at longer horizons, while it decreases closer to the forecast target date. The results also indicate a positive relationship between prior sentiment and interpretation of the signal, in the sense that relatively optimistic (pessimistic) forecasters are likely to believe that the signal under (over) estimates the future realization and assign it a low (high) weight in the forecast revision.
Management System Design for Sustainable Excellence: Framework, Practices, and Considerations

This paper provides new insights on the process and practices of management system design to help practitioners design custom systems. It also provides new insights for academic researchers on advancing the theory of management by design.
Land Titling: A Mode of Privatization with the Potential to Deepen Democracy

Land titling is a form of privatization in that public assets are transferred to private families and individuals. This is unlike other forms of privatization, however, because there is a systematic diffusion of economic and decision making power down to indigent populations rather than out of the country or up to its local elites. In light of this uniqueness, the question I will grapple with in this Article is, can property ownership, achieved through land titling programs, bolster democracy? First, using Peru as an example, I explain the context that necessitated the creation of land titling and the process by which informal holdings are legally recognized. Second, I argue that there are four primary ways that land titling strengthens democracy. By creating a property owning society, land titling: 1. Gives indigent populations a buffer between themselves and the State, which allows them to make the independent electoral decisions vital to a functioning democracy; 2. Makes poor people stakeholders in democratic institutions; 3. Gives people an incentive to secure greater liberties; and 4. Provides a space where individual autonomy is respected and minority viewpoints, critical to a healthy democracy, can thrive.
Victim or Vamp? Images of Violent Women in the Criminal Justice System

This article investigates elements of sex-role stereotyping and gender bias in capital punishment, and how these play themselves out in broader societal understandings and practices surrounding the use of violence by women. Part I describes the violent acts and criminal trials of the four women who were on Florida's death row in August 2000. A survey of the trial transcripts, appellate opinions, and media reports in these cases illustrates the ways in which stereotypes of appropriate female behavior are used by lawyers, judges, and journalists to portray violence by women as particularly threatening to the social order, and thus particularly deserving of censure. Part II draws out the implications of these observations. First, it addresses the contention that women receive more lenient treatment at the hands of the criminal justice system than men, and suggests that this so-called "chivalry thesis" exemplifies a societal preoccupation with controlling women. Second, it examines the battered women's defense as a contemporary manifestation of chivalry, exploring the broader societal implications of excusing women by denying their moral agency. Part III hypothesizes a connection between social attitudes towards violence by women and the subordination of women through the internalization of fear. The refusal to empower women as equal participants in the legitimate use of force to protect the state, the construction of self-defense laws that fail to recognize the circumstances and types of force that women are likely to use to protect themselves, and the persistent and pervasive contrast between female helplessness and male aggression in popular imagery and rhetoric, all have profound and disturbing implications for a society that envisages itself as moving towards gender equality. In the longer term, normalizing some uses of violence by women might be one way to help reduce the incidence of violence against us.
SL(2, Z) action on AdS/BCFT and Hall conductivities

We study the response of a conserved current to external electromagnetic fields in a holographic system with boundaries using the recently proposed AdS/BCFT (boundary conformal field theory) framework. This, in particular, allows us to extract the Hall current, the Hall conductivity, plus some potentially novel transport coefficients, and relations among them. We also analyze the action of SL(2, $\mathbb{Z}$ ) duality in the gravity bulk, which acts non-trivially on the conductivity of the BCFT. Finally we consider a type IIA string theory embedding of our setup.
Algebraicity of the metric tangent cones and equivariant k-stability

We prove two new results on the K-polystability of Q-Fano varieties based on purely algebro-geometric arguments. The first one says that any K-semistable log Fano cone has a special degeneration to a uniquely determined K-polystable log Fano cone. As a corollary, we combine it with the differential-geometric results to complete the proof of Donaldson-Sun's Conjecture which says that the metric tangent cone of any close point appearing on a Gromov-Hausdorff limit of Kahler-Einstein Fano manifolds only depends on the algebraic structure of the singularity. The second result says that for any log Fano variety with a torus action, the K-polystability is equivalent to the equivariant K-polystability, that is, to check K-polystability, it is sufficient to check special test configurations which are equivariant under the torus action.
CREDIT CONSTRAINTS, LEARNING, AND AGGREGATE CONSUMPTION VOLATILITY

This paper documents three facts. First, the volatility of consumption growth relative to income growth rose from 1947 to 1960 and then fell dramatically by 50% from the 1960s to the 1990s. Second, the correlation between consumption growth and personal income growth fell by about 50% over the same time period. Finally, the absolute deviation of consumption growth from its mean exhibits one break in U.S. data, and the mean of the absolute deviations has fallen by about 30%. A standard dynamic stochastic general equilibrium model is unable to explain these facts. I examine ability of two hypotheses to account for these facts: a fall in credit constraints and changing beliefs about the permanence of income shocks. I find evidence for both explanations. The beliefs explanation is more consistent with the data.
The effects of welfare reform on the academic performance of children in low‐income households

During the 1990s, U.S. welfare policy underwent dramatic reforms aimed at promoting employment and reducing dependence. Although the immediate effects on adult labor supply and family income have been studied extensively, this paper is the first to evaluate the long-run effects on children's well-being. Using a decade of national math achievement data and controlling for contemporaneous changes in education policy and environment, we associate welfare reform with relative test score improvements for low-income students. Greater gains occur in states with larger initial welfare caseloads and larger caseload reductions.© 2009 by the Association for Public Policy Analysis and Management.
The consumption benefits of investment in infrastructure: The evaluation of sites-and-services programs in underdeveloped countries

Abstract The justifications for housing subsidy programs in developing countries often rely upon substantial indirect benefits accruing to program participants (in the form of improved health, earning capacity or employment, or non-market activity). The empirical analysis in this paper suggests that such programs may often be justified solely on the basis of direct impacts. The paper presents a methodology for deriving rigorously the direct Hicksian benefits of housing subsidy programs such as ‘sites-and-services’ and ‘slum upgrading’ projects in developing countries. The methodology is used to evaluate the net benefits of a sites and services project typical of recent urban shelter programs sponsored by the World Bank. The results suggest that the direct benefits of such programs may be substantial. In the particular case analyzed, the rate of return approaches 40 percent.
When 'Good' Corporate Governance Makes 'Bad' (Financial) Firms: The Global Crisis and the Limits of Private Law

In the aftermath of the Global Financial Crisis, legislators, regulators and journalists have focused on "bad" corporate governance as one root of the evil visited on the global financial system, and "good" or "improved" corporate governance as one of the remedies for repair. This short writing - using BNP Paribas and AIG as examples - makes the perhaps counter-intuitive argument that, insofar as "good" corporate governance made directors and managers responsive to the shareholders' interest, it may have caused those same directors and managers to take on unsustainable risk so as to increase current profits and support the public stock price valuation. This means that "good" corporate governance is not really a solution to remedying or protecting against the next Crisis, and indicates why long-term, systemic risk-regarding, prudential regulation is.
Scholarship Amok: Excesses in the Pursuit of Truth and Tenure

In 1937, when Fred Rodell issued his once-famous diatribe, some 150 law-related journals were being published (not to mention thousands of local newspapers and countless full-color comic books). Now there are over eight hundred legal periodicals (not to mention a drastically dwindled number of daily papers, and precious few comics). Both Solomon and Rodell have been all but forgotten. What, indeed, have we wrought? Although Rodell predicted his original panning would have no effect, could he have anticipated the sheer dimensions of this worst-case scenario - that his "professional purveyors of pretentious poppycock" would have spawned so furiously, that the contemporary law reviews he collectively called "spinach" would have mushroomed into such a gargantuan souffle of airy irrelevance?Lo, the voices are heard once again in the wilderness, from the bewildered among us innocent (or ignorant) enough to try writing the wrongs perpetrated in the name of Scholarship.
Unbundling the Relationship between Authoritarian Legislatures and Political Risk

A strong statistical association between legislative opposition in authoritarian regimes and investment has been interpreted as evidence that authoritarian legislatures constrain executive decisions and reduce the threat of expropriation. Although the empirical relationship is robust, scholars have not provided systematic evidence that authoritarian parliaments are able to restrain the actions of state leaders, reverse activities they disagree with, or remove authoritarian leaders who violate the implied power-sharing arrangement. This article shows that authoritarian legislatures, by providing a forum for horse trading between private actors, are better at generating corporate governance legislation that protects investors from corporate insiders than they are at preventing expropriation by governments. The statistical analysis reveals that the strength of authoritarian legislatures is associated with corporate governance rules and not expropriation risk.
Two-Hadron Correlations in the Color Glass Condensate Formalism

Two-hadron correlations are a sensitive probe of the dynamics of gluon saturation and the Color Glass Condensate formalism where the degrees of freedom are Wilson lines of the gluon field. It is shown that unlike structure functions in DIS and single hadron production in proton-nucleus collisions, higher point functions of Wilson lines appear in two-hadron production cross section. We investigate the energy (x) evolution of these higher point functions using the JIMWLK evolution equations and show that dipole approximation, employed commonly in the literature to fit the di-hadron data measured by the STAR collaboration in the forward rapidity region, breaks down. This necessitates an investigation of the full hierarchy of the JIMWLK evolution equations for these higher point functions and their solutions. This can then be used to make a quantitative analysis of the di-hadron correlations in the forward rapidity region in deuteron-gold collisions at RHIC and in the long range rapidity correlations observed in proton-proton collisions at the LHC.
A World of Choices

In this keynote address, David Wirth identifies fundamental and dynamic attributes of globalisation, examines the need to confront institutional failures and systemic challenges of multilateral governance, and offers some preliminary observations on directions in which global governance might evolve to achieve salutary outcomes that are good for all.
American Religious Liberty in International Perspective

This Article compares United States religious freedom jurisprudence with prevailing international human rights norms. I distill these international religious freedom norms and evaluate how selected US Supreme Court cases both follow and depart from these norms. Part I identifies six principles of religious freedom defended by the American framers who crafted the First Amendment in 1791: liberty of conscience; free exercise of religion; religious pluralism; religious equality; separation of church and state; and no establishment of religion. Part II summarizes the mostly parallel norms of religious freedom in the 1966 International Covenant on Civil and Political Rights, the 1981 UN Declaration on the Elimination of All Forms of Intolerance and Discrimination Based on Religion or Belief, and the 1989 Vienna Concluding Document. Part III shows how the US Court’s cases on freedom of conscience, free exercise, and religious equality compare favorably to international standards, although some religious minorities have often not fared well. Some of the Court’s cases defending the principle of separation of church and state mesh well with international concerns for religious autonomy. But the Court’s establishment clause cases have gone well beyond international norms in expunging religion from public schools and removing state aid for religious groups and services. The Article concludes that religious freedom remains a strong constitutional value in American law and culture, but it needs to be better integrated; international religious freedom norms offer valuable lessons to that end.
How To Sell a Pickup Truck: "Beat-or-Pay" Advertisements as Facilitating Devices

Abstract This paper examines the profitability of running an advertisement that promises to pay damages to customers who can find a (serious) price offer that the firm will not undercut. We show that such an advertisement can support a collusive price, and furthermore, that no other firm has an incentive to duplicate the advertisement. The results are shown to be relevant in areas that span several topics in the literature, including models of sales, brand loyalty, and the literature on price matching mechanisms.
Coming to Terms with Dred Scott: A Response to Daniel A. Farber

When thinking about Dred Scott, the issue is not how do we “rehabilitate” the opinion. The goal of scholarship here is to understand the opinion, place it in the context of its own time, and explain its enduring significance. After that, we may praise or damn it, and rehabilitate it or condemn it. No one today likes the Dred Scott opinion or the result. But, this article argues that Professor Daniel A. Farber is so incensed by the opinion that he vastly overstates its historical significance including incorrectly blaming Chief Justice Taney for causing the Civil War. This article rejects such an analysis. However, despite Farber’s claims, the author of this article has not tried to “rehabilitate” Chief Justice Taney and his opinion. This article does not endorse Taney’s opinion or attempt to rehabilitate his reputation. There is a huge difference between “rehabilitating” the opinion of the Chief Justice, and suggesting, as the author of this article did in a recent article, that some aspects of the opinion were at least reasonable and that the outcome — that Scott remained a slave and could not sue in diversity — was probably legally correct. Farber argues that Dred Scott was illegitimately decided and that Taney overreached in his attempt to solve the problem of slavery in the territories in a single opinion. Tied to this we must also interrogate the claim implied by Farber, and made by others, that somehow Dred Scott caused the Civil War. The answers to these questions will not be found in a law professor’s narrow analysis of the structure of the opinion, but rather in a more thorough understand of the historical context of the decision as set out in this article.
Alcohol advertising bans, consumption and control policies in seventeen OECD countries, 1975–2000

This article uses cross-country panel data to study the effects of advertising bans and other control policies on alcohol demand. The null hypothesis is that advertising bans do not decrease alcohol consumption. The study addresses several shortcomings in four previous cross-country studies. First, an explanatory variable is included for other alcohol control policies. Second, the study examines the history of advertising bans in OECD countries. Third, the study also examines differences in cross-country trends that characterize developed countries, including aging of the population, increased tourism, higher unemployment rates and increased consumption of wine. The Mediterranean wine-drinking countries are shown to be categorically distinct from the beer-drinking countries and Nordic spirits-drinking countries. Fourth, the study examines the panel data for unit roots and employs model specifications that correct for nonstationary data. The empirical results indicate a significantly negative effect for th...
Business Creation in the United States: Panel Study of Entrepreneurial Dynamics II Initial Assessment

Business Creation in the United States: Panel Study of Entrepreneurial Dynamics II Initial Assessment
Corporate Law Professors as Gatekeepers

This paper is a written version of brief remarks prepared for a conference on “Restoring Trust in the Private Sector” held at the University of St. Thomas School of Law in March, 2009. The key point is that corporate law professors are “gatekeepers” into a corporate law practice. Highlighting just a couple of facets of this role, the paper argues that we who teach corporate law must make sure we are doing all we can to instill right thinking and right conduct in those who eventually will counsel key decision-makers in the corporate setting. We should probe a broad range of issues with our students, including societal expectations of business.