It is widely believed today that the free market is the best mechanism ever invented to efficiently allocate resources in society. Just as fundamental is the belief that government has a legitimate and competent role in policing and punishing. The result, in this country, has been an incendiary combination of laissez faire and mass incarceration.
What is a tiebreaker? Are some tiebreakers better than others? Does law have tiebreakers? Are ties so terrible that we need to break them? In this CBI, Professor Samaha offers answers to these questions. Using various examples from life and law, he will explain how tiebreakers can be thought of as a peculiar sort of lexically inferior decision rule.
Institutional investors, because of their relatively larger ownership stakes, have more incentive than retail investors to monitor the companies in which they invest, particularly if it is costly to exit.
Institutional investors, because of their relatively larger ownership stakes, have more incentive than retail investors to monitor the companies in which they invest, particularly if it is costly to exit.
Patents encourage innovation by granting inventors exclusive rights to sell their inventions. The resulting monopoly profits are a reward for innovation. It is commonly thought, however, that these monopoly profits price some consumers of inventions out of the market. This loss of consumption is an “efficiency” cost of patents.
Reasonably secure property rights are widely understood as important for economic growth, though it is also understood that interest groups and politicians can benefit from particular configurations of rights. What might change in a world where intellectual property dominates? How should we expect innovators to be motivated in the next century?
Institutional investors, because of their relatively larger ownership stakes, have more incentive than retail investors to monitor the companies in which they invest, particularly if it is costly to exit.
