Security interests, misbehavior, and common pools
Article Abstract:
A game-theoretic analysis shows that secured credit contributes to efficient allocation of capital by eliminating monitoring for creditor misbehavior. The analysis also suggests that the focus on bankruptcy law as a solution to the common pool problem overlooks the fact that the unsecured common pool can be avoided by the initial capital structure of the firm. This example also indicates that when using game theoretic models for legal analysis, it is important to know when the smaller game is embedded in a larger one.
Publication Name: University of Chicago Law Review
Subject: Law
ISSN: 0041-9494
Year: 1992
User Contributions:
Comment about this article or add new information about this topic:
Survival of the common law abuse of process tort in the face of a Noerr-Pennington defense
Article Abstract:
The common law tort of abuse of process is independent of the US Supreme Court Noerr-Pennington doctrine which otherwise would override the state tort. The doctrine is statutorily based and not rooted in the Constitution. Application of the doctrine is not required, but analogical use may be beneficial in some cases. The value of the abuse of process tort should not be lost due to misinterpretation and misapplication of the doctrine.
Publication Name: University of Chicago Law Review
Subject: Law
ISSN: 0041-9494
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Assigning common law claims for fraud
Article Abstract:
States should allow victims of fraud to assign their interests between suitable individuals so that common law tort claims will be more vigorously pursued. Assigning claims will not manufacture a tort-trading market that further harms fraud victims with undervalued purchase offers. Laws allowing parties to assign their claims would create, instead, a greater deterrence to crimes that are usually difficult to prove.
Publication Name: University of Chicago Law Review
Subject: Law
ISSN: 0041-9494
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Insecurity interests: where intellectual property and commercial law collide. part 2 Draft
- Abstracts: On misusing "revolution" and "reform": procedural due process and the new welfare act. Congressional oversight of the Clinton Administration and congressional procedure
- Abstracts: Deceit: the loss and the profits, the recovery of expected profits in an action for fraudulent misrepresentation
- Abstracts: Checkpoints on the conversion highway: some trouble spots in the conversion of nonprofit health care organizations to for-profit status
- Abstracts: The Securities and Exchange Commission's use of cease and desist authority: a preliminary appraisal. Section 12(2) of the Securities Act of 1933: a remedy for fraudulent postdistribution trading?