cssi/SciSciGPT-SciSciNet huggingface dataset:
The United Nations Compensation Commission for Claims Arising out of the 1991 Gulf War: The Arising Prior to Decision

Boalt Hall School of Law at the University of California at Berkeley. This article is drawn in part from an address given as the inaugural Richard B. Lillich Memorial Lecture at the Florida State University College of Law on October 23, 2003. 1. I served as a Commissioner on the UNCC “Precedent Panel” which later became denominated as the “E2 Panel.” The E2 Panel was chaired by Professor Bernard Audit of France. Jose-Maria Abascal of Mexico and I served as the other two members. The Panel was deliberative and collegial in its process with all members forming the decisions reached. 2. See Veijo Heiskanen, The United Nations Compensation Commission, 296 RECUEIL DES COURS 393, 393-97 (2003), for a general bibliography. 3. See THE UNITED NATIONS COMPENSATION COMMISSION (Richard B. Lillich ed., 1995) [hereinafter UNCC]. 4. S.C. Res. 687, U.N. SCOR, 46th Sess., 2981st mtg. para. 16, U.N. Doc. S/RES/687 (1991) [hereinafter S.C.Res. 687].
American Moment[s]: When, How, and Why Did Israeli Law Faculties Come to Resemble Elite U.S. Law Schools?

Following independence in 1948, the Hebrew University of Jerusalem founded a law faculty and modeled it on the European example (Continental and British). Today, the Israeli law faculty is much more similar to the U.S. law school than to institutions of legal education in Europe. This Article traces the history of the changes in Israeli legal education. It argues that the shift began after 1967, faced resistance in the 1980s, and gained momentum in the 1990s. Presently we may be witnessing the beginning of a shift away from U.S. influence and back to Continental Europe or even Asia. The Article discusses three major educational components, which together signaled the shift to U.S. influence: a student-run law review, curricular reform, and open and lively class discussion. The Article then offers several factors to explain the shift: judicial opinions that began to rely on American decisional law, the adoption of the U.S. model of practice by the legal profession, the privatization of law schools, globalization, and Americanization and foreign affairs. Finally, the Article considers the contribution to Americanization made by active U.S. attempts to export American law to other legal systems.
When Will Race No Longer Matter in Jury Selection

We are coming upon the twenty-fifth anniversary of the Supreme Court's opinion in Batson v. Kentucky, which made clear that our Constitution does not permit prosecutors to remove prospective jurors from the jury pool because of their race. The legal question in Batson - when, if ever, can governmental race discrimination in jury selection be tolerated? - was easy. The lingering factual question, however - when will prosecutors cease to discriminate on the basis of race? - has proven far more difficult to answer. The evidence that district attorneys still exclude minorities because of their race is so compelling that it is tempting to assume that race will always factor into lawyers' decisions about whom to keep on the jury and whom to exclude. Yet, until the Supreme Court holds lower courts accountable when they fail to meaningfully enforce the protections of Batson, we cannot know if the law goes far enough, and race will continue to permeate jury selections. Only when the law is properly enforced will we be able to determine if Justice Thurgood Marshall's observation was correct:The Court's opinion also ably demonstrates the inadequacy of [requiring] "justice...sit supinely by" and be flouted in case after case before a remedy is available...The decision today will not end the racial discrimination that peremptories inject into the jury-selection process. That goal can be accomplished only by eliminating peremptory challenges entirely.
Private Provision of a Discrete Public Good: Continuous‐Strategy Equilibria in the Private‐Information Subscription Game

We reconsider Laussel and Palfrey's analysis of private provision of discrete public goods via the subscription game. We show their semi-regular equilibria do not exist, casting doubt on their efficiency analysis. Taking players' values for the public good as uniformly distributed on , we exhibit previously unrecognized continuous equilibria—those with contribution strategies strictly increasing up to their maximum values, not necessarily equal to the provision cost, c, at which point they become flat. We show piecewise-linear equilibria are not incentive efficient; and if and , then all symmetric equilibria are interim incentive inefficient.
Toward a Rule of Law Society in Iraq: Introducing Clinical Legal Education into Iraqi Law Schools

This Article details my experience introducing clinical legal education into three Iraqi law schools. I highlight some of the cultural, legal and logistical obstacles that existed, and the means my colleagues and I used to circumvent them. By and large we considered our project at least modestly successful and certainly garnered the interest of many faculty and nearly all students who participated. Nevertheless, the extent of our success depended largely on the cooperation of the faculty and administration at the law schools with which we worked, and we were able to achieve the most at those institutions where cooperation was highest. Unfortunately, however, our project was limited necessarily in both scope and duration, and further efforts must be undertaken in order for experiential legal education to gain a firmer foothold in Iraq.
Unfettered Discretion: Criminal Orders of Protection and Their Impact on Parent Defendants

INTRODUCTION 1446 I. THE EVOLUTION OF ORDERS OF PROTECTION 1449 A. ORDERS OF PROTECTION AS A WEAPON AGAINST DOMESTIC VIOLENCE 1450 B. THE CRIMINAL JUSTICE SYSTEM’S HISTORIC FAILURE TO PROTECT BATTERED WOMEN 1451 C. THE OMISSION OF PROCEDURAL PROTECTIONS FOR ACCUSED BATTERERS FACING PROTECTIVE ORDERS: THE NEW YORK EXPERIENCE 1453 D. THE ORDER OF PROTECTION IN CRIMINAL NEGLECT CASES 1457 E. CRIMINAL COURT ORDERS SUBJECT TO FAMILY COURT MODIFICATION 1459 II. THE INCREASING CRIMINALIZATION OF NEGLECT AND ITS DISPROPORTIONATE IMPACT ON POOR MINORITY WOMEN 1460 III. THE CONSTITUTIONAL RIGHT OF A PARENT TO CARE FOR HER CHILD 1464 A. UNFETTERED DISCRETION AND SUBSTANTIVE DUE PROCESS 1465 B. UNFETTERED DISCRETION AND PROCEDURAL DUE PROCESS 1466 IV. APPLYING THE LESSONS OF FAMILY COURT TO CRIMINAL ORDERS OF PROTECTION 1469 A. MODERATE REFORM: MIRROR THE STATE-SPECIFIC FAMILY COURT REGIME 1470 B. AMBITIOUS REFORM: ADOPT THE NAC STANDARDS FOR REMOVAL ...... 1473 CONCLUSION 1475
This Will Hurt Me More Than It Hurts You: Social and Legal Consequences of Criminalizing Delinquency

Since 1990, nearly every state has enacted new laws to expand the transfer adolescent offenders from juvenile to criminal courts for sentencing and punishment. What happens to adolescents once placed in the criminal justice system, the returns to crime control from these policies, and the potential violations of human rights that ensue, are the focus of this essay. The quick pace of change, the broad reach of the new laws, the potential for unintended negative outcomes, and the harsh conditions of adult punishment for juvenile offenders add new urgency to these questions. The first section discusses the tension between new laws and both jurisprudential theory and social science evidence on the culpability of adolescent offenders. Although waiver of juveniles to criminal court legally may signal the "end of childhood" for that offender, theory and research on adolescent development suggest that the developmental process is far from complete with respect to further antisocial behavior, the jurisprudential indicia of adult competencies and culpability, and the natural history of more generalized transitions from adolescence to adult social roles and behaviors. Next, I assess the returns to crime control from current policies that punish adolescent offenders as adults to reduce crime and increase public safety. Recent controlled studies suggest that while punishment in criminal court for adolescent offenders in more certain and severe, utilitarian goals of lowering juvenile crime rates have not been achieved. Increasing substantive punishment for adolescents may in fact elevate crime rates and heighten the same public safety risks that the legislation is intended to reduce. Next, these empirical results are contextualized in theories of adolescent development and criminology to locate the sources of iatrogenic effects within prevailing policies of retribution and deterrence. Punishment of adolescents as adults exposes them to high levels of violence, attenuates their socialization to prosocial norms by constraining critical developmental transitions to a prison setting, and mortgaging their work prospects through the stigma of felony conviction. Punishment as an adult is analogized to toxic exposure that sharply elevates disease risk. The fourth section discusses the implications of this theoretical tension for the jurisprudence of adolescent criminality, and the theory and future of the juvenile court. This conclusion revisits the human rights dimensions of these developments in law and policy.
The Sarbanes–Oxley Act and firms’ going-private decisions

Abstract We investigate going-private decisions in response to the passage of the Sarbanes–Oxley Act of 2002 (SOX). We study firms that go private from 1998 to May 2005 and find: (1) the quarterly frequency of going-private transactions has increased after the passage of SOX, and (2) abnormal returns surrounding both the passage of SOX and the going-private announcement are significantly related to proxies for the costs and benefits of SOX and the net benefits of being a public firm. Our empirical evidence is broadly consistent with the notion that SOX has affected firms’ going-private decisions.
The Reckless Pursuit of Dominion: A Situational Analysis of the NBA and Diminishing Player Autonomy

This Article examines required genetic testing of NBA players from a situational vantage point, integrating socio-psychological, legal, and ethical analyses. The core argument may be expressed as follows: required genetic testing of NBA players appears consistent with a broader and largely deleterious agenda by the NBA to control players. Since implementation of the rookie wage scale in 1995 through the recent imposition of a paternalistic player dress code, the NBA has increasingly usurped player autonomy. The NBA's capacity to do so largely rests in its adroit manipulation of the situational influences that influence fans and media. For instance, because of unappreciated cognitive biases, fans and media often embrace distorted views of player's maturity, arrest propensity, and collegiate experiences. As a result, NBA players tend to be wrongly identified as immature, out-of-control, and hopelessly uneducated. In turn, the NBA has designed policies that ostensibly remedy these feigned problems while less-detectably transferring autonomy from player to league. In short, the league sees that others often fail to see, and that enables it to surreptitiously control players.
Comment on: “Optimal taxation in the presence of bailouts”

Panageas' "Optimal taxation in the presence of bailouts" provides a model where labor income taxation is used to finance bailouts and bailouts are always optimal. Labor income taxes are countercyclical: they are lower in economic downturns to alleviate the stress on the financial sector and higher in upturns so a bailout can be financed. I argue that the decision to do a bailout should not be independent of the way the bailout is financed: I discuss moral hazard issues, and redistributive issues associated with taxing labor income to finance a bailout of financial services firms. I conclude discussing alternative ways to deal with the debt overhang problem in the model.
Struggling With Text and Context: A Hermeneutic Approach to Interpreting and Realizing Law School Missions

For those not familiar with hermeneutic theory, this article will first explain the basic concepts of that theory as understood by Gadamer and Ricoeur. Particular attention will be paid to the interplay between the text and the interpreter in the process of interpretation. Next, hermeneutic theory will be applied to suggest why some law schools are unable or unwilling to effectuate their written mission statements over time. Finally, this article will suggest that by understanding the role of both the text (the mission statement) and the interpreter (the law school administration, faculty, students, etcetera) in interpreting and effectuating a law school's mission statement, a law school can carry out its mission in a way that both maintains the "core values" of the mission statement and remains functional in the ever-evolving law school environment. Two things should be underscored at this juncture. First, the hermeneutic theory I am working with in this article is not a methodology for reaching objective meaning. Those familiar with the term have seen it in the context of biblical hermeneutics, historical hermeneutics, or romanticist hermeneutics, which imply the possibility of a clear methodology to reach objective interpretations. An underpinning of Gadamerian theory is that there is no absolute methodology for interpretation. Instead, interpretation is a result of the interaction between the text and the interpreter seeking to understand the text. While Ricoeur's approach differs from Gadamer's in many ways, the two approaches compliment one another in the present context and in their relation to legal thought.Second, this article might prove most relevant to schools that have had trouble realizing their missions, or have failed to do so. It should be particularly useful to those schools that have abandoned any realistic attempt to live their mission statements because those statements seem out of touch with current realities, and have thus become simply lofty goals or inspirational statements with little practical significance. There are, of course, schools that are able to effectuate their missions daily - I happen to teach at one now. It appears that these schools engage in some of the give and take that I will discuss below, at least implicitly, in order to realize their missions over time. Even for these schools, the approaches discussed below can be useful to help perpetuate this success. Of course, as will be seen, the nature of the mission statement itself plays an important role in facilitating or complicating this process.
A hydrodynamic instability drives protein droplet formation on microtubules to nucleate branches

Liquid–liquid phase separation1,2 occurs not only in bulk liquid, but also on surfaces. In physiology, the nature and function of condensates on cellular structures remain unexplored. Here we study how the condensed protein TPX2 behaves on microtubules to initiate branching microtubule nucleation3–5, which is critical for spindle assembly in eukaryotic cells6–10. Using fluorescence, electron and atomic force microscopies and hydrodynamic theory, we show that TPX2 on a microtubule reorganizes according to the Rayleigh–Plateau instability, like dew droplets patterning a spider web11,12. After uniformly coating microtubules, TPX2 forms regularly spaced droplets, from which branches nucleate. Droplet spacing increases with greater TPX2 concentration. A stochastic model shows that droplets make branching nucleation more efficient by confining the space along the microtubule where multiple necessary factors colocalize to nucleate a branch. Branching microtubule nucleation plays a major part in cellular processes driving eukaryotic cell division. A combination of microscopy approaches and hydrodynamic theory is used to show how the condensed protein TPX2 on a microtubule reorganizes according to the Rayleigh–Plateau instability.
The Hidden Bias in Diversity Jurisdiction

Commentators have repeatedly debated the continued viability of diversity jurisdiction. These debates have tended to focus on two points: the existence of local bias (which contributes to arguments favoring the retention of diversity jurisdiction) and the workload of the federal courts (which contributes to arguments favoring the abolition of diversity jurisdiction). What has been missed in this debate is that, far from being an antidote to local bias, diversity jurisdiction today embodies, and indeed promotes, a form of bias by its very existence - a bias against rural areas so pervasive as to require the abolition of diversity jurisdiction.
The Balanced Scorecard as a Strategy-Evaluation Tool: The Effects of Implementation Involvement and a Causal-Chain Focus

ABSTRACT: Using an experiment, I examine whether involvement in scorecard implementation can mitigate the effects of motivated reasoning that occur when the scorecard is framed as a causal chain rather than merely as a balanced set of measures. Psychological research on motivated reasoning suggests that managers will evaluate and interpret data in ways consistent with preferences, increasing their tendency to arrive at conclusions that are consistent with their desired conclusions (Kunda 1990). Consistent with that research, results of my study show that managers who are involved in selecting strategic initiatives perceive those initiatives as having been more successful than managers who are not involved in the initiative-selection process (holding constant actual scorecard performance). Results suggest further that simply framing the scorecard as a causal chain is not sufficient to mitigate these effects. However, framing the scorecard as a causal chain, in conjunction with involving managers in the sel...
Civilized Borders: A Study of Israel's New Crossing Administration

Abstract: At Israel's new border crossings with the West Bank, modernization has become the buzz-word: not only referring to modernized mechanical means—a Wall, newly designed crossings, and micro-mechanics such as turnstiles, signs, and fences—but also to new and sophisticated scientific technologies, such as sensor machines and scanners, and to modernized means of identification, such as advanced computer systems and biometric cards. This paper considers the transformation of the Israel–West Bank border to be a result of four major processes: reterritorialization, bureaucratization, neoliberalization, and de-humanization. I utilize in-depth interviews with top military and state officials and with human rights activists as well as a series of participatory observations to explore the on-the-ground implications of the borders’ transformation.
The Impact of ATTCS on Reduced-Thrust Takeoff Field Performance

This paper explores the interplay between the five regulations (14 CFR § 25.105, 14 CFR § 25.107, 14 CFR § 25.109, 14 CFR § 25.113, and 14 CFR § 25.121) and their interactions with two other regulations: 14 CFR § 25.149 and 14 CFR § 25.904. Together, these laws control the means by which the takeoff runway requirements of transport category aircraft are computed. Inspection of airline pilot manuals indicate the popularity of “reduced thrust” or “flex-temp” takeoff procedures that are not discussed in popular aircraft design texts. This paper documents the design and certification implementation strategies that the designer should take when including de-rated thrust takeoff procedures and alternative decision speed strategies into the aircraft conceptual design process.
Understanding the Impact of Immigration on Crime

Since the 1960s both crime rates and the share of immigrants among the American population have more than doubled. Almost three quarters of Americans believe immigration increases crime, yet existing academic research has shown no such effect. Using panel data on US counties from 1980 to 2000, this paper presents empirical evidence on a systematic and economically meaningful impact of immigration on crime. Consistent with the economic model of crime this effect is strongest for crimes motivated by financial gain, such as motor vehicle theft and robbery. Moreover, the effect is only present for those immigrants most likely to have poor labor market outcomes. Failure to account for the cost of increased crime would overstate the “immigration surplus” substantially, but would most likely not reverse its sign.
Civil Gideon and Confidence in a Just Society

What needs doing to help the courts maintain the confidence of the society and to perform the task of insuring that we are a just society operating under a rule of law? For me the answer is easy to state, but until now, difficult to achieve. In short, we need a civil Gideon that is, an expanded constitutional right to counsel in civil matters. Lawyers, and lawyers for all, are essential to the functioning of an effective justice system, whether it be to advise or to represent.
Risk, Return, and Hedging of Fixed-Rate Mortgages

This article computes the returns from dynamic hedging of the interest rate and prepayment risks of insured fixed rate mortgages. Changing durations cause dynamic hedges with futures markets. Nonparallel shifts in the yield curve are also investigated. Hedges are found to be risk-reducing, but imperfect, with significant basis risks. Dynamic hedges outperform static hedges.
Geographically and temporally weighted likelihood regression: Exploring the spatiotemporal determinants of land use change

Abstract Urban areas possess complex spatial configurations. These patterns are produced by cumulative changes in land use and land cover as human and natural environments are influenced by market forces, policy, and changes in the natural landscape. To understand the mechanisms underlying these complex patterns, it is important to develop models that can capture the complexity of the underlying economic process. This includes spatiotemporal variation in the variables as well as spatiotemporal heterogeneity or non-stationarity in the model. The objective of this paper is to build on previous work in spatial nonparametric modeling and propose a spatiotemporal technique for nonlinear panel data models. Using a series of Monte Carlo experiments, we demonstrate how extending a geographically weighted likelihood regression (GWLR) model to account for temporal heterogeneity can improve the performance of the model when heterogeneity exists in the spatial and temporal dimensions. We also show how the technique can be used in modeling real world land use changes by applying our proposed technique to a panel of historical subdivision development from an urbanizing county in the Baltimore/Towson Metropolitan Statistical Area (MSA). Our results demonstrate that the method provides better performance than a standard parametric model. We also demonstrate how the spatiotemporal marginal effects from the model can be used to conduct policy analysis at multiple spatial and temporal scales, which is not possible using the standard global parameter estimates. Our proposed technique is simple to execute and can be implemented using any statistical software package.
The EU and ASEAN: Real Integration and Lessons in Financial Cooperation

E CONOMIC cooperation between the members of the Association of Southeast Asian Nations (ASEAN) started very slowly in the mid-1970s with several (highly-limited) trade and industrial cooperation programmes. Modest though they were, initial economic cooperation agreements in ASEAN were important in establishing a strong base on which to build deeper ASEAN economic integration. The most visible sign of closer integration between ASEAN countries is the ASEAN Free-Trade Area (AFTA), created in January 1992 at the Fourth ASEAN Summit. AFTA should be fully implemented by 2003. Since the Fourth Summit, ASEAN economic integration has progressed on a number of fronts, including initiatives characteristic of the most highly-developed regional integration accords. The Asian Crisis temporarily inhibited progress in these new areas, but economic recovery appears to have allowed ASEAN to move forward once again. Moreover, the memory of the Crisis has underscored the need for greater attention to economic cooperation in other areas, particularly financial and monetary affairs. The EU experience in Economic and Monetary Union (EMU) is already having an influential effect on emerging ASEAN proposals.
Optimizing Liability for Extraterritorial Torts: A Response to Professor Sykes

Professor Alan Sykes’s contribution to the Georgetown Law Journal's Centennial Symposium offers an economic analysis of corporate liability for extraterritorial torts. His analysis enables us to isolate at least three critiques of corporate liability under the Alien Tort Statute, which I label the “failed deterrence” critique, the “competitive disadvantage” critique, and the “inefficient compensation” critique. In this brief invited response, I address each of these critiques and suggest alternative conclusions that can be drawn from Professor Sykes's analysis.
DOING BUSINESS: THE MANAGEMENT OF UNCERTAINTY IN LAWYERS' WORK

Apparently naive, but in fact not; is the question: What do lawyers do? Many scholars assume the central role of the lawyer is that of the advocate, but among lawyers working in law firms advocacy consumes little of their time. Similarly, the term lawyer provides hardly any meaning in itself. The research presented here is based on a participant-observation study of a corporate law firm. The central thesis proposed, in the light of case studies of the selling of shopping mall and the arranging of a bank loan, is that business lawyers are engaged in managing uncertainty for both their clients and themselves. Managing uncertainty is accomplished through interaction rather than appeals to the law.
Educational Vouchers: Freedom to Choose?

Milton Friedman is famous for his book title: "Free to Choose." He also favors educational vouchers, which deny the freedom to choose to people who do not wish to subsidize the education of other people’s children. Thus, he is guilty of a logical contradiction. Why is it important to assess whether Friedman’s views on educational vouchers are logically consistent with his widespread reputation as an advocate of free enterprise, and, thus, freedom to chose? It is important to assess all figures in political economy, and indeed all of scholarship, for logical consistency. It is particularly important to do so in the present case, given the prestige in certain quarters accorded to this Nobel prize-winning economist. We argue in this paper that Friedman’s reputation for logical consistency, and adherence to the philosophy of laissez faire capitalism, are both overblown. Our solution to this challenge is to completely privatize education. Friedman does not advocate that vouchers be utilized for food, clothing or shelter; we see no relevant difference in the case of education.What is the justification of the undertaken topic? This topic is important because education of the next generation is crucial for the upkeep and improvement of society. What is the aim of the present study? It is to demonstrate that the solution offered by M. Friedman and R. Friedman (1990) is highly problematic. What is the methodology used in the study? We quote from this author, and criticize his analysis. What are our main results and conclusions/recommendations? We conclude that the last best hope for the educational industry is laissez faire capitalism, not the mixed economy recommended by Friedman.
NO VIRTUE IN PASSIVITY: THE SUPREME COURT AND ALI AL-MARRI

This Article discusses the case of Al-Marri v. Spagone, which the U.S. Supreme Court unjustifiably dismissed as moot on March 6, 2009. By dismissing this appeal, the Court ignored its duty to determine whether the military detention of a non-citizen residing lawfully in the United States was authorized by law. And that failure has in turn contributed significantly, and unnecessarily, to the cloud of legal uncertainty which now hovers over the preventive detention measures adopted and proposed by the Obama Administration.
International Corporate Diversification and Financial Flexibility

If the location of firm operations is relevant for financing, multinationals should have easier access to different foreign sources of funding relative to domestic firms. I document that U.S. multinationals are more likely to borrow from a foreign bank and to issue international bonds than are U.S. domestic firms. Multinationals are less affected than domestic firms by capital market dislocations because of greater funding flexibility. Using the 2007–2009 financial crisis as a capital supply shock, I find that multinationals relied more on foreign funding sources in bank loans and consequently reduced domestic investment less than did domestic firms. Received January 27, 2015; editorial decision March 20, 2017 by Editor David Denis.
Staging Exchange Partner Choices: When Do Status and Reputation Matter?

This study models the choice of exchange partners as a staged process in which a firm first uses status to screen potential partners and then uses reputation to choose a specific firm within the ch...
Could a monetary base rule have prevented the great depression

Abstract This paper continues an ongoing investigation of the properties of a policy rule that specifies settings of the monetary base that are designed to keep nominal GNP growing smoothly at a noninflationary rate. Counterfactual historical simulations for 1923–1941 are conducted with the rule and a small model of nominal GNP determination, estimated with U.S. quarterly data, with residuals fed in as estimates of the behavioral shocks that occurred. The simulation results indicate that nominal GNP would have been kept reasonably close to a steady three percent path over 1923–1941 if the rule had been in effect.
Price elasticities, joint products, and international trade

This paper extends the basic results of Houck’s insight for derived demand elasticities for the case of joint products by allowing for the possibility of the joint and raw products being traded. Theoretical relationships between individual demands for a set of jointly-produced commodities that are traded and composite demand for the raw product from which the joint products originate are derived. It is shown that while the derived price elasticity of domestic demand retains the same form as Houck’s original formula, the relevant price elasticities of demand to include in the formula are elasticities of total demand instead of domestic demand elasticities. Using the USA soybean industry as an example, this generalised formula that takes into account trade is implemented to calculate the elasticity of total demand for USA soybeans. The usefulness of this formula for policy-makers to trace out the impacts of changes in market conditions and trade policy in the joint-products, and how it will impact the price elasticity of domestic and total demand for the raw product, is demonstrated.
Teacher quality and dropout outcomes in a large, urban school district

Abstract Recent research shows that variation in teacher quality has large effects on student performance. However, this research is based entirely on student test scores. Focusing on high-school math teachers, this paper evaluates teacher quality in terms of another educational outcome of great interest—graduation. I use a unique instrumental variables approach to identify teacher effects and find that differences in teacher quality have large effects on graduation outcomes. Because teacher effects on graduation outcomes will be more pronounced for students who are on the graduation margin, the results imply an avenue through which high-quality teachers are more productive with disadvantaged students.
An Augmented q-Factor Model with Expected Growth

In the investment theory, firms with high expected investment growth earn higher expected returns than firms with low expected investment growth, holding investment and expected profitability constant. Building on cross-sectional growth forecasts with Tobin’s q, operating cash flows, and change in return on equity as predictors, an expected growth factor earns an average premium of 0.84% per month (t = 10.27) in the 1967–2018 sample. The q5 model, which augments the Hou-Xue-Zhang (2015) q-factor model with the expected growth factor, shows strong explanatory power in the cross section and outperforms the Fama-French (2018) 6-factor model.
Too Clever by Half: Reflections on Perception, Legitimacy, and Choice of Law Under Revised Article 1 of the Uniform Commercial Code

The overwhelmingly successful 2001 rewrite of Article 1 of the Uniform Commercial Code was accompanied by an overwhelming failure: proposed section 1-301 on contractual choice of law. As originally sent to the states, section 1-301 would have allowed non-consumer parties to a contract to select a governing law that bore no relation to their transaction. Proponents justifiably contended that such autonomy was consistent with emerging international norms and with the nature of contracts creating voluntary private obligations. Despite such arguments, the original version of section 1-301 was resoundingly rejected, gaining zero adoptions by the states before its withdrawal in 2008. This Article contends that this political failure within the simultaneous overall success of Revised Article 1 was due in significant part to proposed section 1-301 invoking a negative visceral reaction from its American audience. This reaction occurred not because of state or national parochialism, but because the concept of unbounded choice of law violated cultural symbols and myths about the nature of law. The American social and legal culture aspires to the ideal that “no one is above the law” and the related ideal of maintaining “a government of laws, and not of men.” Proposed section 1-301 transgressed those ideals by taking something labeled as “law” and turning on its head the expected norm of general applicability. Future proponents of law reform arising from internationalization would do well to consider the role of symbolic ideals in their targeted jurisdictions. While proposed section 1-301 made much practical sense, it failed in part because it did not—to an American audience—make sense in theory. * Associate Professor of Law, Texas A&M University School of Law. Special thanks to William Henning, Andrew Morriss, Jay Westbrook, Paul George, and Frank Snyder, all of whom provided valuable comments and insights on earlier drafts of this Article, particularly on areas of disagreement. I am also grateful for legislative history research assistance during the course of this project provided by Assistant Director of the Dee J. Kelly Law Library, Patrick Flanagan, and by student research assistants Michael Doyle and Hannah Bell. Any errors and opinions in this Article are, of course, the sole responsibility of the author. 358 WILLIAM & MARY BUSINESS LAW REVIEW [Vol. 6:357
From Paradox to Judgment: towards a metaphysics of expression

The Liar sentence is a singularly important piece of philosophical evidence. It is an instrument for investigating the metaphysics of expressing truths and falsehoods. And an instrument too for investigating the varieties of conflict that can give rise to paradox. It shall serve as perhaps the most important clue to the shape of human judgment, as well as to the nature of the dependence of judgment upon language use.
Revelations from the Blackmun Papers on the Development of Death Penalty Law

Justice Blackmun’s legacy is strongly linked to two issues – abortion and capital punishment. Blackmun’s opinions in these controversial areas account for much of the notion that his ideology changed while on the Court. Participants in this Symposium have reflected on these and other areas where Justice Blackmun left his mark on American law. Professor Deason explores the arbitrability cases and shows that the Court struggled – and Justices changed their minds – even in connection with relatively technical legal issues arising in non-controversial commercial contexts. One reason the Court struggles with some issues is that legal standards are (or become) inherently contradictory or confusing over time. As the law evolves, it moves in directions the Justices may not have anticipated and cannot continue to support. As a result, both the Court and individual Justices change direction. In the arbitrability cases, Justice Blackmun was one of several Justices whose approach changed as the law developed, largely through opinions authored by others.
Measuring Contagion in the Diffusion of Consumer Packaged Goods

Abstract This study measures the degree of contagion or interpersonal influence in the diffusion of new consumer packaged goods (CPGs). The authors demonstrate that when an individual-level trial hazard model is properly specified to account for potential sources of biases, substantial contagion effects may be detected in the diffusion of many CPGs. Using longitudinal panel data on individual-level trial and repeat purchases of 67 newly introduced CPGs, they show that standard diffusion models fail to detect contagion. However, after extending the model to allow for spatial and temporal heterogeneity in contagion and controlling for various cross-sectional and temporal confounds, they find statistically significant contagion effects in 33 to 40 of the 67 sample products. The empirical evidence of contagion in the diffusion of many CPGs has important implications because most new product trial models for CPGs have assumed a priori that there is no contagion in the diffusion of these products. Moreover, the...
Reflecting on current challenges and future directions in psychotherapy: what can be learned from dialogues between clinicians, researchers, and policy makers?

The challenges that confront contemporary psychotherapy and that have been highlighted in the previous series of articles rest on many competing interests. Unless genuine dialogues and serious efforts of conciliation are launched to address these challenges, irreconcilable factions may result between clinicians, researchers, and policy makers. A number of therapists certainly have deep concerns about the influence of empirically supported therapy research. On the other hand, many applied researchers are worried about private practitioners’ limited use of empirical findings. At the same time, those who make decisions about federal funding for psychotherapy research are concerned about monetary allocation. Nonetheless, the previous four panel discussions demonstrates that although there are some differences of opinion as to the optimal directions that should guide the future of psychotherapy, there are also many points of agreement. Further, researchers, clinicians, and federal policy makers in these panels have converging ideas as to how to address some of the challenges and unresolved issues that are salient to contemporary psychotherapy. When attempting to identify and address current challenges and issues, a central focus of each of the panel discussions deals with the empirical standards of randomized controlled trials. Influenced (if not regimented) by federal funding policies, these standards focus on maximizing internal validity at the expense of external clinical validity. As a result, most clinical trials have abided by a number of rules that have stirred serious controversies in the field. These rules include the reliance on DSM-IV diagnoses and the adherence to treatment manuals. For many, controlled trials have also failed to be informed sufficiently by theory. Moreover, debates over the merits of clinical trials have been fueled by the expectation that research findings soon may play a pivotal role in the reimbursement policies of HMOs and other third party payers.
Banking deregulation and corporate tax avoidance

Abstract We investigate whether tax avoidance substitutes for external financing. We exploit interstate banking deregulation as a quasi-external shock to examine whether firms engage in less tax avoidance after banking deregulation, because of cheaper and easier access to credit from banks. We find no empirical evidence to support this substitutive relation, even for firms with higher financial constraints or firms with higher external financing dependence.
Cain and Abel? Trade and Competition Laws in the Global Economy

Since the mid-twentieth century, international accords, political upheavals and the rise of the trans-national corporation have fomented a truly global business environment. Given this shift, it was predictable that corporate malpractice familiar at the domestic level would prove equally prevalent on the international plane. International collusion has resulted in the division of geographic markets, the collective management of output levels, and the setting of super-competitive prices to the benefit of producers and the detriment of consumers worldwide; export cartels have extorted unfair premiums from foreign buyers, and import cartels, cross-border abuse of dominance, vertical mergers and vertical restraints have precluded foreign competitors from entering and contesting national markets.1 Perhaps it is not surprising that much of this traditional focus of domestic competition regulation has come into the frame of international trade discussions. In their pursuit of markedly similar objects, competition and trade are sibling policies. Both aim to reduce or eliminate obstacles to free trade in open markets and to provide companies with the equal opportunity to entice customers solely through the relative merits of their respective products. At least at first glance, it would seem that an inclusive multilateral body such as the World Trade Organisation (WTO) might offer a suitable forum for the development of norms of common interest to the trade and competition constituencies.2
Contractibility and Asset Ownership: On-Board Computers and Governance in U. S. Trucking

We investigate how contractual incompleteness affects asset ownership in trucking by examining cross-sectional patterns in truck ownership and how truck ownership has changed with the diffusion of on-board computers (OBCs). We find that driver ownership of trucks is greater for long than short hauls, and when hauls require equipment for which demands are unidirectional rather than bidirectional. We then find that driver ownership decreases with OBC adoption, particularly for longer hauls. These results are consistent with the hypothesis that truck ownership reflects trade-offs between driving incentives and bargaining costs, and indicate that improvements in the contracting environment have led to less independent contracting and larger firms.
The Information Content of Calls of Convertible Preferreds: The Evidence from Earnings Forecasts:

This paper examines the impact of the announcement of convertible preferred calls on earnings forecasts by financial analysts. Our results show that in-the-money calls are associated with no change in either forecasted earnings or forecasted long-term earnings growth. In addition, we find that the abnormal return around the announcement of the call is uncorrected with changes in earnings or long-term growth rates. Similar results are obtained from the analysis of earnings changes around out-of-the-money calls. Out-of-the-money calls, however, are associated with marginally significant increases in forecasts of long-term growth, but these increases are not correlated with the announcement period abnormal returns. These results suggest that any information inherent in convertible preferred calls is not associated with future earnings. Therefore, they are more consistent with the Jensen free-cash-flow hypothesis than the Harris-Raviv signaling hypothesis.
Institutional demand pressure and the cost of corporate loans

Between 2001 and 2007, annual institutional funding in highly leveraged loans went up from $32 billion to $426 billion, accounting for nearly 70% of the jump in total syndicated loan issuance over the same period. Did the inflow of institutional funding in the syndicated loan market lead to mispricing of credit? To understand this relation, we look at the institutional demand pressure defined as the number of days a loan remains in syndication. Using market-level and cross-sectional variation in time-on-the-market, we find that a shorter syndication period is associated with a lower final interest rate. The relation is robust to the use of institutional fund flow as an instrument. Furthermore, we find significant price differences between institutional investors’ tranches and banks’ tranches of the same loans, even though they share the same underlying fundamentals. Increasing demand pressure causes the interest rate on institutional tranches to fall below the interest rate on bank tranches. Overall, a one-standard-deviation reduction in average time-on-the-market decreases the interest rate for institutional loans by over 30 basis points per annum. While this effect is significantly larger for loan tranches bought by structured investment vehicles (CDOs), it is not fully explained by their role.
Has pharmaceutical innovation reduced Social Security Disability growth

Abstract This paper analyzes longitudinal state-level data during the period 1995–2004 to investigate whether use of newer prescription drugs has reduced the ratio of the number of workers receiving Social Security Disability Insurance benefits to the working-age population (the “DI recipiency rate”). All of the estimates indicate that there is a significant inverse relationship between disability recipiency and a good indicator of pharmaceutical innovation use: the mean vintage (FDA approval year) of Medicaid prescriptions. From 1995 to 2004, the actual disability rate increased 30%, from 2.62% to 3.42%. The estimates imply that in the absence of any post-1995 increase in drug vintage, the increase in the disability rate would have been 30% larger: the disability rate would have increased 39%, from 2.62% to 3.65%. This means that in the absence of any post-1995 increase in drug vintage, about 418,000 more working-age Americans would have been DI recipients.
A theoretical perspective on managed rangelands and irreversible states

Abstract In spite of a manager's best attempts, a managed rangeland may hit an irreversible state in which it provides neither consumptive nor nonconsumptive services to humans. Therefore, given a particular time-based management regime, it is useful to know how long it takes for a rangeland to hit the irreversible state. The purpose of this paper is to conduct a theoretical analysis of this and related questions. In particular, we first provide a stochastic characterization of a time-based range management regime. Second, we ascertain the expected amount of time it takes for our managed rangeland to hit the irreversible state. Third, we discuss the properties of the above mathematical expectation. Finally, we pose and discuss a simple optimization problem for our range manager.
Some Observations About Jewish Law in Israel's Supreme Court

This Article considers whether the Israeli Supreme Court‟s effort to incorporate the parts of Jewish law that deal with secular subjects is internally flawed. The use of Jewish law differs from the use of the law of other jurisdictions. Typically courts rely on other jurisdictions‟ precedents to show that a rule is practical, that the court is not overstepping its authority, and that adoption of the rule will lead to interstate or international uniformity. The use of Jewish law does not satisfy these goals. There is concern that the religious elements of Jewish law are pervasive and that much of Jewish law is not well suited for a modern society. This Article considers the approach of looking to Jewish law, not for specific rules that will be applied, but as a storehouse from which one can seek enlightenment. Even under this approach, this Article finds that some Israeli Supreme Court cases have misapplied Jewish law either by taking Jewish law out of context or by reading modern legal concepts into Jewish law. This Article suggests ways that some of these cases could have better employed Jewish law and also describes cases that have properly done so. It concludes that, when used properly, Jewish law can help to link Israeli law to a rich cultural heritage.