cssi/SciSciGPT-SciSciNet huggingface dataset:
Evaluating Design Solutions Using Crowds

Crowds can be used to generate and evaluate design solutions. To increase a crowdsourcing system’s effectiveness, we propose and compare two evaluation methods, one using five-point Likert scale rating and the other prediction voting. Our results indicate that although the two evaluation methods correlate, they have different goals: whereas prediction voting focuses evaluators on identifying the very best solutions, the rating focuses evaluators on the entire range of solutions. Thus, prediction voting is appropriate when there are many poor quality solutions that need to be filtered out, and rating is suited when all ideas are reasonable and distinctions need to be made across all solutions. The crowd prefers participating in prediction voting. The results have pragmatic implications, suggesting that evaluation methods should be assigned in relation to the distribution of quality present at each stage of crowdsourcing.
Gender and Job Performance: Evidence from Wall Street

This study concerns the relationship between gender and job performance among brokerage firm equity analysts. Women’s representation in analyst positions dropped from 16 percent in 1995 to 14 perce...
Conventional Wisdom: The Courtroom Trial in American Popular Culture

This article has three parts. The first establishes the ubiquitous image of the courtroom trial in popular American literature, film, and television. The second explores the core features of this common pop cultural convention. The third critiques the courtroom trial convention and comments on its ramifications. What does the convention tell us about the courts, the legal profession, and American society in general? How should we think about the courtroom trial the next time we encounter it in a novel, a movie, or a television show? How should we respond to the "conventional wisdom" of the courtroom trial in American popular culture?
Measuring legal systems

Abstract Factor-analytic models can substantially improve the measurement of comparative legal systems and thereby our understanding of how legal systems influence economic outcomes. These methods yield better estimates of latent constructs, allow us to evaluate whether institutional features are representative of a theoretical construct and whether allegedly distinct theoretical constructs can be separated empirically. We illustrate these points through a re-analysis of a 2003 study by Djankov, La Porta, Lopez-de-Silanes and Shleifer, using a factor-analytic method that combines continuous and categorical indicators. Our results strengthen these authors' findings with respect to how legal formalism relates to legal origin and the quality of the legal system. Yet, the results also show that many of the original index items are not significantly positively related to formalism. The results thus shed light on what institutional features should be prioritized for reform if we seek to make legal systems less formalistic. Moreover, we question the evidence that the formalism model better predicts the quality of the legal system than does the alternative “incentives” model. We argue, instead, that formalism and incentives may both relate to the tendency of a legal system to use bureaucratic rule-making. Our approach can readily be applied to the analysis of legal concepts other than formalism. Journal of Comparative Economics 35 (4) (2007) 711–728.
Bankruptcy behavior in the NFL: does the overtime structure change the strategy of the game?

Companies in financial distress have an incentive to take on high-risk/high-reward projects, known as ‘bankruptcy behavior.’ This paper investigates the activity of bankruptcy behavior outside of the corporate setting by analyzing the effects of the overtime structure in the NFL relative to College Football. In overtime, the first team to score in the NFL wins. In college football, however, both teams in overtime get a chance to score and the winner is decided when one team outscores the other. This structure causes different strategies for the NFL teams approaching overtime relative to college football teams. Using the variance in scoring throughout the game, I find evidence that NFL teams take on more risk late in the game to avoid overtime, or act as if they have bankruptcy behavior.
Public Investment and Economic Growth in Latin America: an Empirical Test

The paper analyzes the impact on economic growth of public investment spending and other relevant variables (such as human capital) for nine major Latin American nations over the 1983‐93 period. The results suggest that both public and private investment spending contribute to economic growth. Overall central government consumption expenditures, on the other hand, are found to have a negative effect on private investment and growth. Finally, public expenditures on education and healthcare are found to have a positive and statistically significant effect on private capital formation and long-term economic growth. From a policy standpoint, the results suggest that indiscriminate cuts in public and private investment spending are likely to be counterproductive in the long run, and more importantly, scarce public expenditures should be channeled to the promotion of new human capital (via primary and secondary education) and the maintenance of existing human capital (through healthcare expenditures).
Revisiting Youngstown: Against the View That Jackson's Concurrence Resolves the Relation Between Congress and the Commander-in-Chief

Virtually all legal analysts believe that the tripartite framework from Justice Jackson's Youngstown concurrence provides the correct framework for resolving contests between Congress (when it regulates pursuant to its powers to make rules and regulations for the land and naval forces, for instance) and the president when he acts pursuant to his commander-in-chief powers. This Article identifies a core assumption of the tripartite framework that, up to now, has not been recognized and that consequently has not been adequately analyzed or justified. While Jackson's framework importantly recognizes that Congress's regulatory powers may overlap with the president's commander-in-chief powers, the framework assumes that, as regards this overlap, lawful congressional enactments categorically trump the commander-in-chief's contrary desires. After explaining that this assumption of "categorical congressional supremacy" (CCS) is a mechanism for sorting out conflicts that arise when two governmental institutions share overlapping power, the Article identifies five additional "conflict-sorting" rules that are found in other contexts in American law where governmental institutions have overlapping powers. With the understanding that Jackson's concurrence in effect made a choice among several candidate conflict-sorting principles, the Article then explains why his opinion did not adequately justify the particular conflict-sorting principle it adopted. To be clear, the Article does not conclude that CCS is the wrong conflict-sorting principle, but instead makes the negative argument that the case has not yet been made as to what sorting principle should resolve conflicts between Congress and the commander-in-chief. The Article closes by identifying the type of analysis that has been relied on to select conflict-sorting principles in other contexts. The Article suggests that the same institution-sensitive, context-specific analysis should be used to decide whether CCS should be formally adopted, modified, or rejected.
Optimum Currency Areas and Key Currencies: Mundell I versus Mundell II

The East Asian economies are increasingly integrated in trade and direct investment. More than 50 percent of their foreign trade is with each other. Both the high growth and level of, trade integration is similar to what the Western European economies achieved in the 1960s. So, in the new millennium, the inevitable question arises: is East Asia also an optimum currency area (OCA)? Despite the apparent success of the European Monetary Union, many writers familiar with the East Asian scene think not. Taking the seminal papers of Robert Mundell as the starting point, this paper first analyzes traditional theorizing on the pros and cons of international monetary integration and then suggests new approaches to the problem of international risk sharing in OCAs.
The End of Indeterminacy In Affirmative Action

After the Supreme Court's decision in Fisher v. UT Austin, the stage has been set for judges to demand more specificity in the articulation of the protected diversity interest. Gone are the days when institutions of higher education could rely on the abstract concept of diversity to support efforts to enroll a diverse student body. Now higher education institutions will need to give serious thought to how they define the sought after diversity interest and how racial diversity improves educational outcomes and enhances the education that is delivered.
The 800-Pound Gaijin in the Room: Strategies and Tactics for Conducting Fieldwork in Japan and Abroad

ideographs make up the Japanese word gaijin, the first meaning "outside" or "out of place" and the second meaning "person." Hence gaijin literally means an outsider or foreigner, and in polite Japanese most speakers opt for the slightly less brusque sounding gaikokujin, which places the emphasis on the foreign nation (koku) from which the alien comes. But as political scientists doing fieldwork abroad, we are all foreigners, if not because of superficial differences such as pigmentation, accent, or dress, then because of our motivations and goalsgaining information, generating and testing hypotheses, and so forth. When we speak to informants abroadwhether in Japan, India, France, or elsewhereto further our research, we may see ourselves as 800-pound gorillas who can bring conversations to a halt, generate unwanted propositions from nearby residents, and induce stares and pointing. Most graduate school training for social scientists focuses on details ranging from properly defining one's independent variable to ensuring that we have sufficient cases from which to draw broader inferences. And doctoral candidates regularly fly off to carry out fieldwork alike with two suitcases, several semesters of language training, and a recently approved prospectus. But few social scientists receive advice on what impact sex, ethnicity, and religious differences may have on interactions with our informants or how to successfully integrate fieldwork into broader research frameworks. Rarer still is
Short- and Long-Horizon Behavioral Factors

We propose a theoretically-motivated factor model based on investor psychology and assess its ability to explain the cross-section of U.S. equity returns. Our factor model augments the market factor with two factors which capture long- and short-horizon mispricing. The long-horizon factor exploits the information in managers' decisions to issue or repurchase equity in response to persistent mispricing. The short-horizon earnings surprise factor, which is motivated by investor inattention and evidence of short-horizon underreaction, captures short-horizon anomalies. This three-factor risk-and-behavioral model outperforms other proposed models in explaining a broad range of return anomalies.
Spatial targeting of agri-environmental policy using bilevel evolutionary optimization☆☆☆

Abstract In this study we describe the optimal designation of agri-environmental policy as a bilevel optimization problem and propose an integrated solution method using a hybrid genetic algorithm. The problem is characterized by a single leader, the agency, that establishes a policy with the goal of optimizing its own objectives, and multiple followers, the producers, who respond by complying with the policy in a way that maximizes their own objectives. We assume that the leader has perfect knowledge of policy outcomes for all parameterizations of agri-environmental policy. We use a hybrid genetic algorithm to simulate perfect knowledge of all policy outcomes in a bilevel optimization. Our hybrid genetic algorithm integrates a biophysical model (Soil and Water Assessment Tool; SWAT) with an economic model (profit maximization; DEA). The Soil and Water Assessment Tool (SWAT) is included to specify agency environmental objectives, and Data Envelopment Analysis (DEA) is used to model producer behavior in response to agri-environmental policy. We applied the resulting integrated modeling system to the analysis of an input tax on fertilizer in the Calapooia watershed in Oregon, USA. Application of the incentive policy at different geographical resolutions showed that bilevel optimization is effective for calculating optimal spatial targeting of agri-environmental policy. Surprisingly, the presented algorithm found multiple different policy configurations that achieved nearly identical results for the upper level (agency) objectives. This observation raises the possibility that additional objectives could incorporate equity, equality of outcome, and policy initiatives such as support for small farms at no additional cost.
The Parol Evidence Rule in Wisconsin: Status in the Law of Contract, Revisited

This Comment surveys Wisconsin parol evidence cases decided from 1980 through mid-1991. Drawing upon a 1972 New York University Law Review article for its methodology, the Comment empirically examines whether it is useful to categorize Wisconsin decisions according to the business sophistication (i.e., status) of parties to the contract. The Comment concludes that status is important in Wisconsin parol evidence cases, despite the fact that courts rarely mention it as a factor. The data indicate that the nature of the proffered parol evidence is important as well. The Comment suggests that the results of this law-in-action survey are useful to parties, attorneys, and courts alike - to parties and attorneys by improving their odds of prevailing on parol evidence issues, and to courts by giving them additional rationale with which to circumvent or uphold the rigid application of the parol evidence rule
Matching and Price Competition

We develop a model in which firms set impersonal salary levels before matching with workers. Wages fall relative to any competitive equilibrium while profits rise almost as much, implying little inefficiency. Furthermore, the best firms gain the most from the system while wages become compressed. In light of our results, we discuss the performance of alternative institutions and the recent antitrust case against the National Resident Matching Program.
Don't Say You're Sorry Unless You Mean It: Pricing Apologies to Achieve Credibility

Abstract Remorse and apologies by offenders have not been rigorously analyzed in the law and economics literature. This is perhaps because apologies are regarded as ‘cheap talk’ and are deemed to be non-informative of an individual's conscious state. In this paper, I develop a formal framework in which one can analyze remorse and apologies. I argue that legal procedures can be designed to price apologies, such that only truly remorseful individuals apologize. Hence, apologies would not be mere ‘cheap talk’ and could send correct signals regarding an offender's true conscious state, making them credible. This will lead victims, upon receiving apologies, to forgive offenders more frequently. Moreover, pricing apologies does not negatively impact the possibility of achieving optimal deterrence. An (arguably negative) effect of pricing apologies is its elimination of insincere apologies. If it is assumed that apologies, even if insincere, carry rehabilitative and/or palliative benefits, then the optimality of pricing apologies depends on a trade-off between achieving credibility and increasing such rehabilitative and palliative benefits.
AN EMPIRICAL ANALYSIS OF ALCOHOL ADDICTION: RESULTS FROM THE MONITORING THE FUTURE PANELS

In a panel of young adults, we find that alcohol consumption is addictive in the sense that increases in past or future consumption cause current consumption to rise. The positive and significant future consumption effect is consistent with the hypothesis of rational addiction. The long-run price elasticity is approximately 60% larger than the short-run price elasticity and twice as large as the elasticity that ignores addiction. Thus, a tax hike policy to curtail consumption or abuse may not have a favorable cost-benefit ratio unless it is based on the long-run price elasticity. (JEL 110)
Reframing Roe: Property over Privacy

Roe v. Wade has received much criticism from both sides of the political spectrum. These critiques diverge divisively but for one commonality. Specifically, commentators from both the proand anti-choice camps have expressed concern about the absence of an express constitutional right to privacy, upon which the Supreme Court in Roe based its finding of a “fundamental” right to abortion. This lack of express constitutional provision renders the Roe decision, and its resulting reproductive rights, vulnerable. Further, pro-choice advocates find fault with the privacy basis because it yields no positive rights to funding or governmental support for accessing abortion services. When based upon a right to privacy, the right to abortion is relegated to the land of negative rights. The negative right to privacy might provide some women with reproductive choice free from government intrusion, but for other women—those with limited resources—the so-called “choice” becomes nonexistent. This article investigates whether these two shortcomings—the absence of positive rights and the lack of express constitutional language—inherent in the right to privacy might be redressed by reframing Roe in the language of property, and specifically a woman’s property right in her uterus. Assuming arguendo the anti-choice tenet that the fetus is a person from the moment of conception, this article sets forth an argument that the fetus is an unwanted trespasser in the woman’s uterus whom the woman has a right to eject. Further, this article posits that this property-based notion of abortion might justify government funding for abortions based on a constitutional obligation to maintain a system designed to protect women’s uterine property, similar to states’ obligations to maintain a ∗ Copyright © 2011 Rebecca L. Rausch † Teaching Fellow, Seattle University School of Law; LL.M., University of California, Berkeley, School of Law, 2011; J.D., Northeastern University School of Law, 2004; B.A., Brandeis University, 2001. For their helpful and insightful comments at various stages of this article’s development, I offer thanks to Kristin Luker, Kathryn Abrams, Stephen Sugarman, Marjorie Shultz, Molly Van Houweling, Erica Goldman, Anna Lund, Elin Sigurdson, and the members of the Workshop on Teaching and Research in Reproductive Rights and Justice at the University of California, Berkeley. Special thanks to my husband, Lior Barnoon. REFRAMING ROE 2/27/2012 11:24 AM
Executive overconfidence and the slippery slope to financial misreporting

Abstract A detailed analysis of 49 firms subject to AAERs suggests that approximately one-quarter of the misstatements meet the legal standards of intent. In the remaining three quarters, the initial misstatement reflects an optimistic bias that is not necessarily intentional. Because of the bias, however, in subsequent periods these firms are more likely to be in a position in which they are compelled to intentionally misstate earnings. Overconfident executives are more likely to exhibit an optimistic bias and thus are more likely to start down a slippery slope of growing intentional misstatements. Evidence from a high-tech sample and a larger and more general sample support the overconfidence explanation for this path to misstatements and AAERs.
Assessing Three Sources of Misresponse to Reversed Likert Items

Abstract Data collected through multi-item Likert scales that contain reversed items often exhibit problems, such as unexpected factor structures and diminished scale reliabilities. These problems arise when respondents select responses on the same side of the scale neutral point for both reversed and nonreversed items, a phenomenon the authors call “misresponse.” Across four experiments and an exploratory study using published data, the authors find that misresponse to reversed Likert items averaged approximately 20%, twice the level identified as problematic in previous simulation studies. Counter to prevailing thought, the patterns of misresponse and response latency across manipulated items could not be attributed to respondent inattention or acquiescence. Instead, the pattern supports an item verification difficulty explanation, which holds that task complexity, and thus misresponse and response latency, increases with the number of cognitive operations required for a respondent to compare a scale it...
Advocacy in the Era of the Vanishing Trial

The vanishing trial is part of our legal landscape. Lawyers, who are clear-eyed people little given to romantic sentimentality, will inevitably accommodate their lawyering styles to this phenomenon, even if they are unhappy with this course of events. It has often been remarked ruefully that “trial lawyers” have almost all become “litigators.” I have been teaching trial skills to practicing lawyers through the National Institute for Trial Advocacy (NITA) for thirty years, and those same skills to law students for about the same time. I am definitely ambivalent about a change in the way in which our continuing legal education (CLE) organizations and law schools imagine the legal process when that change hastens the death of the trial. After all, one of the identified causes for the death of the trial—an institution which is, in my view, a significant cultural achievement—is the sharp decline in trial skills among bar members and the resulting aversion to bringing cases to trial. If lawyers increasingly view trials as deviant events, their approach to litigating cases will itself become one of the causes of the trial’s disappearance. The “new normal” will become a self-fulfilling prophecy, operating through our collective professional psychology and, derivatively, through the economics of actually getting a case to trial. What is the “vanishing trial” phenomenon? I have summarized it in the following terms:
Threats, institutions and regulation in common pool resources

Can bureaucracies respond to threats marked by both potentially high costs and fundamental uncertainty? Standard guidelines such as maximizing expected value to the society over a period of time may be ineffective; yet, state action is often most demanded for such situations. I argue that the precautionary principle of reserved rationality helps explain the ability of bureaucracies to choose appropriate actions under uncertainty. Such bureaucracies are empowered when there is sufficient informal institutional support for their expertise and the bureaucracy has the discretion to take necessary precautions. I draw historical information from the case of Singapore's regulation of the formerly common pool resource of water catchment areas. This case reveals decision making when it is not clear that the expected-value criterion would support action, as well as the importance of political and institutional support for such action.
Unintended consequences of cigarette prohibition, regulation, and taxation

Abstract Laws that prohibit, regulate, or tax cigarettes can generate illicit markets for tobacco products. Illicit markets both reduce the efficacy of policies intended to improve public health and create harms of their own. Enforcement can reduce evasion but creates additional harms, including incarceration and violence. There is strong evidence that more enforcement in illicit drug markets can spur violence. The presence of licit substitutes, such as electronic cigarettes, has the potential to greatly reduce the size of illicit markets. We present a model demonstrating why enforcement can increase revenues in the illicit market, show that states with higher tobacco taxes have larger illicit markets, and apply the findings to discussion of public policy toward a potential ban on menthol cigarettes. The social calculus involved in determining public policy toward tobacco cigarettes should include the harms from both consumption and control. We conclude by highlighting areas where more research is needed for effective policymaking.
Macroeconomic and Distributional Effects of Personal Income Tax Reforms: A Heterogenous Agent Model Approach for the U.S

This paper assesses the macroeconomic and distributional impact of personal income tax (PIT) reforms in the U.S. drawing on a multi-sector heterogenous agents model in which consumers have non-homothetic preferences and sectors differ in terms of their relative labor and skill intensity. The model is calibrated to key characteristics of the US economy. We find that (i) PIT cuts stimulate growth but the supply side effects are never large enough to offset the revenue loss from lower marginal tax rates; (ii) PIT cuts do 'trickle-down' the income distribution: tax cuts stimulate demand for non-tradable services which raise the wages and employment prospects of low-skilled workers even if the tax cut is not directly incident on them; (iii) A revenue neutral tax plan that reduces PIT for middle-income groups, raises the consumption tax, and expands the Earned Income Tax Credit can have modestly positive effects on growth while reducing income polarization; (iv) The growth effects from lower income taxes are concentrated in non-tradable service sectors although the increased demand for tradable goods generate positive spillovers to other countries; (v) Tax cuts targeted to higher income groups have a stronger growth impact than tax cuts for middle income households but significantly worsen income polarization, even after taking into account trickle-down effects and an expansion of the Earned Income Tax Credit.
Tax management strategies with multiple risky assets

Abstract We study the consumption-portfolio problem in a setting with capital gain taxes and multiple risky stocks to understand how short selling influences portfolio choice with a shorting-the-box restriction. Our analysis uncovers a novel trading flexibility strategy whereby, to minimize future tax-induced trading costs, the investor optimally shorts one of the stocks (or equivalently, buys put options) even when no stock has an embedded gain. Alternatively, an imperfect form of shorting the box can reduce aggregate equity exposure ex post. Given these two short selling strategies, it is common for an unconstrained investor to short some equity while a constrained investor holds a positive investment in all stocks. With no shorting, the benefit of trading separately in multiple stocks is not economically significant.
Partner Capture in Public International Organizations

A sharp rise of public-private partnerships is changing the way the United Nations and other public international organizations work. Organizations eagerly embrace wealthy, experienced partners, such as major foundations and corporations, in order to fund ambitious projects. But safeguards against potential problems have not kept pace with partnership activities. Looking to fundamental principles of public choice and political economy well-known in the U.S. administrative law context, this Article develops a multifaceted notion of “partner capture” to describe the dangers of this expansion in partnership activities for the U.N. and similar organizations. The dangers include agenda distortion, intra-organizational rivalries, reputational damage, and financial liability. In light of these challenges, the Article proposes a structural solution for these problems in the form of an Office of Independent Review. Such an office would play a restrictive gatekeeper role but could also stimulate new project ideas to fulfill an organization’s goals efficiently. Leveraging the expertise and credibility built by the office would place the international organization – and not its private partners – in the role of primary agenda-setter. In the end, preventing partner capture illustrates one way in which international law can become more effective by drawing on domestic analogues and establishing new accountability structures.
The Coming Extinction of Homo Economicus and the Eclipse of the Chicago School of Antitrust: Applying Evolutionary Biology to Structural and Behavioral Antitrust Analyses

This article argues that the models and lessons learned from evolutionary biology can provide fresh and useful insights regarding structural and behavioral economic competition and antitrust policy. Using an evolutionary biology perspective, this article contends that large economic concentrations such as monopolies and oligopolies are vastly overrated in terms of their overall efficiency and positive impacts on the current economic system and that their dangerous impacts are increasingly underrated. Further, building on the critique of neoclassical economics, this article predicts that Homo economicus will become extinct, and that as Homo sapiens replaces Homo economicus in antitrust analysis, the Chicago School’s antitrust dominance will come to a timely end. Evolutionary biology refutes the Chicagoans’ attempts to justify monopolies and ongoing predatory behavior. Instead, it vindicates the antitrust laws’ framers laudable efforts to flexibly regulate human ethics and economic behavior.
Strategy-proof and fair assignment is wasteful☆

Abstract I prove there exists no assignment mechanism that is strategy-proof, non-wasteful and satisfies equal treatment of equals. When outside options may exist, this strengthens the impossibility result of Bogomolnaia and Moulin (2001) by weakening ordinal efficiency to non-wastefulness. My result solves an open question posed by Erdil (2014) and complements his results on the efficient frontier of random assignment mechanisms.
Agency and Compensation: Evidence from the Hotel Industry

We examine how agency problems in the workplace interact with compensation policies by taking advantage of the structure of the hotel industry, in which many chains have both company-managed and franchised properties. As residual claimants on their properties’ profits, franchisees have stronger incentives to monitor employees than managers in company-managed hotels. Exploiting this variation and using rich, longitudinal data on the hotel industry, we estimate differences in wages and human resource practices across company-managed and franchised hotels within chains as well as within individual hotels as they change organizational form. Our results suggest that the timing of pay and the propensity to use performance-based incentives relate to the extent of agency problems within establishments. (JEL J31, J41, L23, L83)
Privacy and Telecommunications

This article explores the differences in privacy protection between the European Union and the United States, and examines the emerging conflict over data protection. Professor Cate analyzes the European data protection Directive, with particular emphasis on the Directive's extraterritorial provisions. He then examines privacy protection under United States laws and the extent to which that protection satisfies the requirements of the Directive. Finally, Professor Cate focuses on privacy issues involved in telecommunications, an area significantly regulated by United States and European laws, and therefore one area in which some commonality among privacy protection might be anticipated. Even in this highly regulated area, Professor Cate concludes, United States privacy protection for telecommunications-related information fails to meet the standard required by the Directive. However, he argues, the most effective protections for privacy are not legal regulations, but rather individual responsibility, limited governmental oversight, and competition among telecommunication service providers.
How the pretrial process contributes to wrongful convictions

Wrongful convictions have attracted a great deal of scholarly interest in recent years, with most of the attention focused on bad forensics, flawed eyewitness identification, witness perjury, and other deviations from legal norms. This article argues that there is another, less obvious contributor to erroneous decisionmaking: the federal pretrial procedural rules. Current doctrine on pretrial release, venue, pretrial delay, joinder and severance, discovery, and guilty pleas are designed to accommodate a variety of interests, only one of which is the factual accuracy of the proceeding. As a result, the rules often implicitly, and at times explicitly, tolerate modest amounts of prejudice to the defendant's case in order to serve these other interests. Thus, for example, pretrial release decisions will closely consider the risks of flight and the dangers to the community, but rarely consider how the defense can be hampered if the accused remains in jail. Joinder and severance decisions place great weight on the efficiency of combined trials, while simultaneously recognizing the prejudicial impact that joinder can have on the defense. Other pretrial rules create comparable risks and are similarly tolerated. Relying on both case law and government data, the article contends that none of the pretrial processes, in isolation, creates a serious risk of skewing the outcome of criminal cases, but that collectively the current rules are cause for concern. The article evaluates the impact of the procedures, both individually and collectively, and tries to assess how they contribute to the risk of wrongful convictions.
Theory of self-learning $Q$-matrix

Cognitive assessment is a growing area in psychological and educational measurement, where tests are given to assess mastery/deficiency of attributes or skills. A key issue is the correct identification of attributes associated with items in a test. In this paper, we set up a mathematical framework under which theoretical properties may be discussed. We establish sufficient conditions to ensure that the attributes required by each item are learnable from the data.
The Significance of Private Burdens and Lost Benefits for a Fair-Play Analysis of Punishment

This article considers the relevance of several kinds of post-offense events for the justice of punishment under a fair-play account of retributivism. If the justice of punishment depends on something like an offender-centered tally of benefits and burdens, it may be difficult to explain why offenders should be punished by a criminal justice system in situations where they have been punished privately or have lost the relevant benefits they may have received from their offenses.
Delegated trade and the pricing of public and private information

Abstract We extend a standard, rational expectation model of trade to incorporate the possibility of individual investors delegating their trades to an informed financial intermediary. In the presence of delegated trade, we show that a firm׳s risk premium is a function of both the firm׳s exposure to a common risk factor and idiosyncratic characteristics of the firm׳s information environment. We show that even in a large economy, priced risks can manifest in the form of both idiosyncratic firm characteristics and common risk factors; as a consequence, factor-based asset pricing tests cannot rule out that a particular risk is priced.
The Commander-in-Chief and the Necessities of War: A Conceptual Framework

While the current Administration has largely abandoned claims of plenary presidential authority to fight the nation’s wars, courts, scholars, and policy makers continue to debate the nature and scope of the powers conferred by the September 18, 2001 Authorization for Use of Military Force. This Article examines primarily Supreme Court precedent to distill the general scope and limits of the President’s powers to fight the nation’s international and non-international armed conflicts. It concludes that the Supreme Court has expressly endorsed and consistently observed (although inconsistently applied) two concepts of necessity attributable to the Commander-inChief power. The first is military necessity: the power to employ all military measures not prohibited by applicable law and reasonably calculated to defeat a national enemy. The case law is reasonably clear that “applicable law” in this context includes all domestic and international law specifically applicable to armed conflict. Military necessity also encompasses a second type of necessity: public necessity. Analogous to the common law tort doctrine, precedent reveals that, in armed conflict, public necessity permits the abrogation of private, statutory, and even certain constitutional
Trends in Occupational Segregation by Gender 1970–2009: Adjusting for the Impact of Changes in the Occupational Coding System

In this article, we develop a gender-specific crosswalk based on dual-coded Current Population Survey data to bridge the change in the census occupational coding system that occurred in 2000 and use it to provide the first analysis of the trends in occupational segregation by sex for the 1970–2009 period based on a consistent set of occupational codes and data sources. We show that our gender-specific crosswalk more accurately captures the trends in occupational segregation that are masked using the aggregate crosswalk (based on combined male and female employment) provided by the U.S. Census Bureau. Using the 2000 occupational codes, we find that segregation by sex declined substantially over the period but at a diminished pace over the decades, falling by only 1.1 percentage points (on a decadal basis) in the 2000s. A primary mechanism by which segregation was reduced was through the entry of new cohorts of women, presumably better prepared than their predecessors and/or encountering less labor market discrimination; during the 1970s and 1980s, however, occupational segregation also decreased within cohorts. Reductions in segregation were correlated with education, with the largest decrease among college graduates and very little change in segregation among high school dropouts.
Competition Between Networks: A Study of the Market for Yellow Pages

This paper estimates the importance of network effects in the market for Yellow Pages. I estimate three simultaneous equations: consumer demand for usage of a directory, advertiser demand for advertising and a publisher's first-order condition (derived from profit-maximizing behaviour). Estimation shows that advertisers value consumer usage and that consumers value advertising, implying a network effect. I find that internalizing network effects would significantly increase surplus. As an application, I consider whether the market benefits from monopoly (which takes advantage of network effects) or oligopoly (which reduces market power). I find that a more competitive market is preferable. Copyright 2004, Wiley-Blackwell.
People accounting: Social category-based choice

Abstract This paper presents people accounting —a hypothesis that describes how a simple numerical imbalance in representation along nominal social category lines can affect people’s choice of candidates in highly competitive situations (e.g., awards, jobs, etc.). For example, two scholarship finalists from California and New York may be equally qualified, but the award-winning chance for the California candidate will drop precipitously if 8 of the past 10 winners were from California. Studies 1–3 illustrate this effect. Study 4 links people accounting to intergroup fairness concerns and suggests that people accounting is more likely to occur when the category dimension is meaningful (e.g., Stanford/Princeton) than when it is not (e.g., left/right-handedness). Study 5 shows that candidates from overrepresented categories (e.g., “Californians”) must achieve higher minimum standards in order to be selected. The implication is that highly competitive decisions are often influenced by headcounts along mundane social category lines.
It's a Trap: Emperor Palpatine's Poison Pill

In this paper we study the financial repercussions of the destruction of two fully armed and operational moon-sized battle stations (“Death Stars”) in a 4-year period and the dissolution of the galactic government in Star Wars. The emphasis of this work is to calibrate and simulate a model of the banking and financial systems within the galaxy. Along these lines, we measure the level of systemic risk that may have been generated by the death of Emperor Palpatine and the destruction of the second Death Star. We conclude by finding the economic resources the Rebel Alliance would need to have in reserve in order to prevent a financial crisis from gripping the galaxy through an optimally allocated banking bailout. 2
Having a Say and Acting: Assessing the effectiveness of the European Employment Strategy as an intra-governmental coordinative instrument

As the European Union (EU) has strengthened, scholars have emphasized the development of multilevel governance structures and the salience of subnational actors. With the launch of the Open Method of Coordination and the increasing development of nonbinding regulations, we must re-consider the potential of this type of governance instrument to serve as an intergovernmental and intra-governmental coordinative mechanism; thus contributing to the development of multilevel governance structures. This paper addresses this issue by focusing on the implementation of the European Employment Strategy and its potential to serve as an intra-governmental coordinative instrument. I argue that this nonbinding instrument does informally (de facto) influence intra-governmental relations in member states. In addition, subnational actors have transferred many of these soft principles to lower levels of government. These propositions are explored using data gathered in the EU, Spain, Belgium, and Sweden at both the national and the sub national levels
Law or Politics? Hans Kelsen and the Post‐War International Order

In the aftermath of the founding of the United Nations, Hans Kelsen, who had not been involved in the process of drafting the U.N. Charter, quickly produced a nearly 1000-page critique of the Charter. This essay describes Kelsen’s critique and the reception of that work, at least within the United States. The essay then proceeds to lay out the main elements of Kelsen’s plan for securing international peace in the post-war era, focusing on the elements that distinguish Kelsen’s plan for international organization from others. One especially surprising feature of Kelsen’s approach is his idea that the movement towards a mature international law must proceed through the establishment of an international court of compulsory jurisdiction. This essay supplements Kelsen’s reasoning by arguing that courts, because of their discursive advantages over political and legislative processes, should play a larger role in the development of a comprehensive international legal order.
EZFF: Python library for multi-objective parameterization and uncertainty quantification of interatomic forcefields for molecular dynamics

Abstract Parameterization of interatomic forcefields is a necessary first step in performing molecular dynamics simulations. This is a non-trivial global optimization problem involving quantification of multiple empirical variables against one or more properties. We present EZFF, a lightweight Python library for parameterization of several types of interatomic forcefields implemented in several molecular dynamics engines against multiple objectives using genetic-algorithm-based global optimization methods. The EZFF scheme provides unique functionality such as the parameterization of hybrid forcefields composed of multiple forcefield interactions as well as built-in quantification of uncertainty in forcefield parameters and can be easily extended to other forcefield functional forms as well as MD engines.
The Disappearing Delaware Effect

Refining and extending the methodology introduced by Daines (2001), I present evidence that small Delaware firms were worth more than small non-Delaware firms during the period 1991--1996 but not afterwards. I also present evidence that larger firms, which comprise 98% of my sample by size, exhibit no Delaware effect for any year during the period 1991--2002. Thus the Delaware effect "disappears" when examined over time and when examined for firms that are economically meaningful. These new contours of the Delaware effect suggest that the benefit associated with Delaware incorporation was an order of magnitude smaller than estimated by Daines (2001) during the early 1990s, and nonexistent by the late 1990s. The trajectory of the Delaware effect further suggests that it cannot provide support for the "race to the top" view of regulatory competition, as some commentators have argued, and may in fact provide support for the "race to the bottom" view. Finally, the findings presented here identify two puzzles: (1) Why did small Delaware firms exhibit a positive Delaware effect during the early 1990s but larger firms did not? (2) Why did this effect disappear in the late 1990s? I identify doctrinal changes in Delaware corporate law in the mid-1990s, increased managerial incentives to sell during this period, and a cohort selection effect during the 1980s as potential explanations. Copyright 2004, Oxford University Press.
Pricing American interest rate options under the jump-extended constant-elasticity-of-variance short rate models

Abstract This paper demonstrates how to value American interest rate options under the jump-extended constant-elasticity-of-variance (CEV) models. We consider both exponential jumps (see Duffie et al., 2000 ) and lognormal jumps (see Johannes, 2004 ) in the short rate process. We show how to superimpose recombining multinomial jump trees on the diffusion trees, creating mixed jump-diffusion trees for the CEV models of short rate extended with exponential and lognormal jumps. Our simulations for the special case of jump-extended Cox, Ingersoll, and Ross (CIR) square root model show a significant computational advantage over the Longstaff and Schwartz’s (2001) least-squares regression method (LSM) for pricing American options on zero-coupon bonds.
Property Rights and Contract Form in Medieval Europe

Throughout western Europe, beginning about 1200, leasing of lords' estates became more common relative to direct management. In England, however, direct management increased beginning around the same time and until the fourteenth century, and leasing increased thereafter. This article models contract choice as a trade-off between incentives and insurance. Leasing increases as living standards improve. In England, the increase in direct management can be explained by improved security of freehold tenure, and the increase in leasing can be explained not only by living standards but also by improved security of leasehold tenure.
Theoretical Models of Inequality Transmission across Multiple Generations

Abstract Existing theoretical models of intergenerational transmission of socioeconomic status have strong implications for the association of outcomes across multiple generations of a family. These models, however, are highly stylized and do not encompass many plausible avenues for transmission across multiple generations. This paper extends existing models to encompass some of these avenues and draws out empirical implications for the multigenerational persistence of socioeconomic status.
THE INFLUENCE OF EXPERT REVIEWS ON CONSUMER DEMAND FOR EXPERIENCE GOODS: A CASE STUDY OF MOVIE CRITICS

An inherent problem in measuring the influence of expert reviews on the demand for experience goods is that a correlation between good reviews and high demand may be spurious, induced by an underlying correlation with unobservable quality signals. Using the timing of the reviews by two popular movie critics, Siskel and Ebert, relative to opening weekend box office revenue, we apply a difference-in-differences approach to circumvent the problem of spurious correlation. After purging the spurious correlation, the measured influence effect is smaller though still detectable. Positive reviews have a particularly large influence on the demand for dramas and narrowly-released movies.