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date: 14 July 2020

(p. 557) Subject Index

(p. 557) Subject Index

A. Gay Jenson Farms v Cargill (1981) 410–11
9/11 Victims’ Compensation Fund 106–7, 114
academic publication, open–access to 267–8, 270–1
accession 155, 210
accidents between strangers
bilateral care 44, 45–7
bilateral risk 44, 45
classic model: full information 44–8
liability when information about optimal behavior is costly 43, 48–57
litigation costs and settlement 58–9
risk-averse victims 57–8
wrongful death and serious permanent injury 48
activity levels 60–1, 405, 406
excessive 56, 61
optimal 41, 43, 44, 45, 49, 50, 51, 61, 62, 81
organizational 78, 79, 81
actual authority
of an agent 403, 404
in partnership 416
ad coelum rule 161
adverse interest 413
adverse possession 154
adverse selection 322–3
contract 72, 74–7
and insurance markets 482, 489, 491, 492–3
and optimal liability rule 61 n. 16
advertising 224, 252
false 221, 222
affiliated depository institutions (ADIs) 424 n. 6
affiliated mortgage companies (AMCs) 424 n. 6, 424 n. 7
affirmative asset partitioning 169, 170
Affordable Care Act of 2010, US 120, 482, 489
agency 399–401, 403–14, 420–1
apparent or ostensible 403, 408, 409
and employment relationship 400–1
inherent agency power 415
and problem of collusion,
agent-third party collusion 403, 413
principal-third party collusion 403, 413–14
transactional 400, 406
undisclosed principal problem 403–4, 408–13, 418
agency costs 170, 338, 342, 399
agency failure 426–7, 437, 442
Agent Orange 108–9
aggregation theory of corporations 344–5
Ajaxo Inc v E*Trade Grp, Inc. (2005) 24 n. 11
Alaska Packers’ Association v Domenico (1902) 8–9
alienability 149, 157, 158, 167, 210
Allen v Wal-Mart Stores, Inc. (2001) 97
America Coalition for Clean Coal Electricity 519
American International Group 484
American Tort Reform Association 129
American Trucking Associations, Inc. v Whitman (2001) 517
Amerisure Ins. Co. v Nat’l Sur. Corp. (2012) 492
Anheuser-Busch Inc. v Andy’s Sportswear Inc. (1996) 233 n. 41
anticommons 178–97
“commedy of the anticommons” 196
economics of 190–2
complements versus substitutes 191–2
full exclusion resources 189
group exclusion resources 189–90, 196
puzzles 192–4
(p. 558) antidiscrimination laws, insurance 488–9
apparent agency 408, 409
apparent authority
in agency law 403, 404, 407, 409, 413
in partnership law 415–16
arbitrage 150, 165
regulatory 426, 430
arbitration, litigation costs 59
asbestos trusts 109 n. 9
asset partitioning 169–70
asset-backed commercial paper (ABCP) conduits 424
asymmetric information see information asymmetry
Asynchronous Transmission Protocol (ATM) 264
AT&T 273–4
attention economy 251
attribution (creative works) 211–13
Australia
corporate law 392
damage caps 107–8
Babies Beat, Inc. (1990) 227 n. 17
bad faith 496–8
bailments 167
bank holding companies (BHCs) 424 n. 6
banking
regulation 423
shadow 424, 432, 436, 437, 442
bankruptcy 434, 447–80
collective debt resolution procedure 447–8
and credit market protection 449
discharge of unpaid debts 448
government 447
and mortgage default 474
priority rules 447
punishments for 448
small business 472, 473
bargaining models of household functioning 281–3
cooperative models 282
non-cooperative (separate spheres) models 282, 283
threat-point analysis 282–3
Basel I 430, 434
Basel II
market discipline 430, 431
minimum capital requirements 430
supervisory review 430, 432
Basel III 431–2
capital conservation buffer 432
countercyclical capital buffer 432
Basel Committee on Banking Supervision (BCBS) 429–30
Beck v Mason (1991) 34 n. 23
Beery v Plastridge Agency, Inc. (1962) 33
behavioral decision theory 162
behavioral economics
and environmental policy 515–16
and insurance 482, 490–1
Belgium, pain and suffering damage schedules 113
bilateral care 44, 45–7, 56
bodily injury, lost income and damages for 323–5
Botta v Brunner (1958) 99–100
brands 252
Britain see United Kingdom (UK)
British Petroleum (BP) Deepwater Horizon Oil Spill 109
BSD (Berkley Software Distribution) license 265
Budapest Open Access Initiative 268
building encroachments 160–1, 163
bundle of rights view of property 150, 151, 152, 170
Burwell v Hobby Lobby Stores Inc. (2014) 344, 351
Business Roundtable v SEC (1990) 386 n. 24
California
corporate law 380–1
environmental policy 529, 530
Global Warming Solutions Act (AB 32) (2006) 530
capital markets, distribution of information in 247
capital requirements 429–32, 436, 440–1
countercyclical 438–9
insurance companies 485–6
(p. 559) capital-adequacy ratios 429, 430, 431
care 51
bilateral 44, 45–7, 56
due 46–7, 48, 49, 51, 52, 55–6, 57, 58, 67 n. 26, 69, 79
employees’ level of 78, 79, 80, 81, 82, 83
excessive 47, 56, 57
marginal cost of 46, 80
optimal 43, 49, 50, 51, 52, 54, 55–7, 59–60, 62, 81
social marginal benefit of 46, 57, 80
caregivers, mandated benefits and antidiscrimination laws 295–302
causation, reciprocal 163
caveat emptor 13
Cement Sector Regulatory Relief Act, US 519 n. 8
centralized management, corporate entities 341–2
chameleon equity 458
Chevron v NRDC (1984) 522
childcare, gender roles and 293–4
children, contribution to household labor 290
Cincinnati Ins. Co. v Becker Warehouse, Inc. (2001) 495 n. 19
Civil Rights Act (1964) Title VII, US 295, 296, 297
Clean Air Act, US 514, 516, 517, 522, 523, 525, 526, 529, 530
amendments (1990) 518, 524
Clean Power Plan 530
Clean Water Act, US 517, 518 n. 8, 528
climate change 509–10, 512, 519–20, 528–9, 530, 531
Climate Framework for Uncertainty, Negotiation, and Distribution (FUND) model 519
Clinical Practice Guidelines (CPGs) 121, 123, 137–40, 142
club goods 257, 277
Coase Corollary 152
Coase Theorem 2, 150, 151, 152, 310
Coca-Cola Co. v Gemini Rising, Inc. (1972) 233 n. 41
collateral source rule 128, 129 n. 10, 135
collective action problems 259, 427, 428
collective goods 63, 72–3
comedy of the anticommons 196
comedy of the commons 195
Commercial Paper Funding Facility (CPFF) 436 n. 71, 442
commission-created pain-and-suffering damage schedules 100, 113–14
common law 308
of contract 4, 5, 10, 12, 13, 16, 17, 20
of property 150, 155, 260
and trademark protection 222, 237
common property regimes (CPRs) 259–60, 275, 277
common-pool resources 259–60
commons 171, 186, 187
“comedy of the commons” 195
limited (group) access 180 n. 3, 186, 188, 189
optimal use of 187–8
ordinary use 185, 187
Ostrom 257, 258–60, 275
overuse of 179–81, 187, 188
privatization of 180, 181, 183, 184, 185, 188, 259
commons-based peer production 257, 265–7
Communication and Resolution Programs (CRPs) 121, 140–1
compensatory damages 42 n. 2, 323–5
complements 191–2
complete contracts 69–70
Comprehensive Environmental Response, Compensation, and Liability Act (2012), US 528 n. 16
congestible public goods 260, 261, 269, 271
Connecticut, corporate law 362
consequential damages 322–3
conservation easements 196
consumer protection 247
and insurance regulation 482, 484, 486–8
Consumer Protection Act (2010), US 485
consumption insurance, personal bankruptcy as 449, 462–6, 467–8
continent valuation 512
contingent capital debt 441
contra proferentem doctrine 493–4
(p. 560) contract law 3–19, 308, 309, 481
apparent agency in 408
“benefit of the bargain damages” 20
consequential losses 322–3
contract terms as a product attribute 15–17
and contract theory 17–18
contracting costs 25, 28, 29
damages for breach of contract 313–14, 315
expectation damages see expectation interest, damages
liquidated damages 32–7, 316, 325–7
punitive damages 24, 25
reliance damages 3, 6, 314
restitution damages 3
default terms 14–15
disclosure, duty of 13, 14
disgorgement 24, 25 n., 27, 28, 29
dual performance contracts 21, 26, 27, 28, 29–30, 31–7
efficient breach see efficient breach
expectation interest see expectation interest
fiduciary contracts 30, 31
forseeability of losses 317, 318
freedom of contract 3–4, 11, 22
gain-seeking breaches 313, 316
good faith, duty of 30 n. 18
liquidated damages clauses 32–7
loss-avoiding breaches 313–14, 316
mitigation doctrine 23, 23–4 n. 8
nonpecuniary loss 320–1
“off-the-rack terms” 12–13, 14
overreliance problem 6, 8, 316, 317
price terms 32
promises 3, 4–5, 20, 23, 24, 26, 29
pure economic loss 318–19
reliance interest 20
remedy limitations 34–5
renegotiation 7–9, 25, 28, 29, 30
restitution interest 20
specific performance 7–8, 23, 24, 25, 27, 28, 29, 32, 33, 36, 38, 313, 314, 315
supracompensatory remedies 23–4, 30, 31
warranty of merchantability 12–13, 16
contract theory 17–18
contracting over liability 70–7
contracting through standard form contracts and adverse selection 74–7
imperfect information 71
inefficient informed: incomplete contracts 72
post-contractual care and collective goods problem 72–3
pre-contractual care: renegotiation and time inconsistency 73–4
standard form contracts 71, 72
contracts 148
adverse selection 72, 74–7
bankruptcy 458–9
collective goods problem 72–3
complete 69–70
fungible goods 315
incomplete 72, 153 n. 4, 314
renegotiation of 7–9, 25, 28, 29, 73–4, 75
standard form 71, 72, 75
time inconsistency 72, 73–4
unique goods 315
contractual liability
with informed consumers and complete contracts 69–70
versus tort liability 68–9
contributory and comparative negligence 43, 45, 46–7, 50, 56–7, 77
cooperative solutions
to anticommons 190
to commons overuse 183, 185, 188
copying 245
in fashion industry 205–6
copyright 168, 201 n. 5, 204, 210, 213–14, 220, 241, 243, 245, 246, 250, 261, 270, 277
anticommons 193 n. 20
fair use doctrine 249
fashion 205
Corporate Average Fuel Economy (CAFE) Standards 518
corporate bankruptcy 447, 450–62
auctions 456–7
bankruptcy contracts 458–9
continuing to operate outside of bankruptcy 451–2, 453
empirical research
characteristics of corporations in bankruptcy and bankruptcy costs 459–60
deviations from the APR 460
(p. 561)
efficiency of Chapter 11 (reorganization procedure) 461
external effects 461–2
filtering failure 449, 451, 452, 454, 456, 459
liquidation in bankruptcy (Chapter 7) 448–9, 450, 451, 452, 455, 458–9, 461, 462
and managerial effort levels 455–6
non-bankruptcy workouts 454–5
options 457–8
priority rules
deviations from 460
and efficiency of corporate behavior 450–4
reorganization in bankruptcy 448–9, 452–4, 457, 458–9, 461
and soft versus tough bankruptcy law 455–6
strategic default 454–5
corporate governance 437
corporate law, market for 358–98
federalism and 359–60
national government as competitor in 383–6, 393
shareholder voting rights 386
state competition 360–7, 393–4
defensive competition 279, 361–3, 365, 390
evidence of 365–6
and role of bar in statutory innovation 363–5
state competition, beneficiaries of 372–83
comparative performance studies 374–7
event studies of changes in Delaware law 377–8
firms’ domicile decisions studies 379–83
reincorporation event studies 373–4
takeover statutes event studies 378–9, 380
state takeover regulation 367–72, 378–9, 380, 384
see also Delaware
corporate liability
economic justification for 81–3
agents liability governed by negligence 82
employee asset insufficiency 83
firms’ noncontractible conduct directly affects expected accident costs 82
limitations of existing
independent contractor rule 85–6
limited liability 85
optimal 83–4
corporate policing 78, 84
corporate purpose 349–55
customer welfare theory of 349–50
franchise theory of 348, 349
long-term production theory of 353–4
managerialist theory of 350
shareholder value theory of 350–1, 353
stakeholder welfare theory of 350, 351–2
team production theory of 352
corporate veil, piercing the 341
corporations
agency cost problems 338, 342
aggregate theory of 344–5
asset lock–in 339–40
delegated and professional management 339, 341–2
entity shielding 339
entity theory of 343–4
as franchise governments 348, 349
legal personality 338–9, 339–40, 351
limited liability for natural persons 339, 340–1
nexus of contracts theory of 346–7, 401
nonprofit 340, 353
ownership and control, separation of 340, 346
perpetual life 339, 342–3
political theory of 348
property (“principal/agent”) theory of 345–6, 353
publicly traded 340, 353, 358
team production theory of 347–8, 352, 354
transferable shares 339, 342
versus the firm 337–8
corrective justice 3
court-based damage pain-and-suffering schedules 100, 112–13
covenants 159
Creative Commons Attribution ShareAlike license 265–6
creativity effect 211, 212
(p. 562) credit or credit-growth ceilings 438
credit markets, and personal bankruptcy 472–4
credit rating agencies 430
credit risk 430
credit-default swaps 427, 484
Crisci v Security Ins. Co. (1967) 501 n. 25
Cross-State Air Pollution Rule (CSAPR) 518, 526
CTS Corp. v Dynamics Corp. of America (1987) 368
cultural production, open-access commons for 265–7
culture 256, 261
custom 162
customer welfare theory of corporate purpose 349–50
Daily v Gusto Records, Inc. (2000) 25 n.
Dalkon Shield Trust 109–10
damage caps
consequential losses 322–3
fixed 100, 107
flexible 100, 107–8
medical malpractice 100, 120, 128, 129, 130, 131, 134, 135–6, 141
“most extreme case” rule 108
pain-and-suffering damages 100, 107–8
damage schedules (pain-and-suffering)
commission-created 100, 113–14
court-based 100, 112–13
legislated 100, 110–12
damages
accidental negligence 52–3, 54, 66, 67, 68
accidents 48
compensatory 42 n. 2, 323–5
consequential 322–3
deliberate negligence 67
economic 98, 131
excessive 47
liquidated 32–7, 316, 325–7
punitive 24, 25, 52 n. 9, 59 n. 13, 497
reliance 3, 6, 314
restitution 3, 28 n. 15
and strict liability 45, 56
undercompensatory 315, 317
versus injunctions 163–6
wrongful death and serious permanent injury 48, 52 n. 8
Dastgheib v Genentech, Inc. (2006) 25 n.
Davis v Isenstein (1913) 33
Day v Ouachita Paris School Bd. (2002) 97
death, wrongful 48, 52 n. 8
Debus v Grand Union Stores (1993) 102
DEC (Digital equipment Corp.) 264
Deepwater Horizon Oil Spill 109
Defending America’s Affordable Energy and Jobs Act 518 n. 8
defensive asset partitioning 169–70
defensive medicine 121, 122, 125–7, 130, 132, 137, 138, 330
Delaware
corporate law 358–9, 361, 362, 363, 365–6, 367, 373 n. 10, 381–2
and firm performance 374–6
limited-liability statute 378, 387, 388
and national government 383–6
price effect of statutory changes 377–8
takeover regulation 369–70, 378, 379, 381, 383, 384
pre-eminence as reincorporation state 387–93, 394
and corporate franchise taxes 388–9, 390
corporation code revision supermajority provision 389–90
credible commitments 388–90
first mover advantage 390
network effects 390–3, 394
and nonredeployable assets 389
delegated management, corporate entities 339, 341–2
Demsetz Thesis 158
Deni Assocs. of Fla. v State Farm Fire & Cas. Ins. Co. (1998) 495 n. 18
derivative suit procedure 348
deterrence, and tort liability 42 n. 2, 43, 58, 59, 63, 70, 71, 78, 79, 83, 86
directors’ and officers’ liability (D & O) insurance 363–4
(p. 563) disclosed principal 412
disclosure, duty of 13
disgorgement remedy 24, 25 n., 27, 28, 29
division of household labor 283–92
contributions of children 290
earnings and 285
economic-dependency model 284, 288–9
fairness in 290–1
gender gap 285, 286
gender-construction model 289
gender-ideology model 287–8
and marital status 289–90
and race 290
relative-resources model 284–5
time-availability model 285–7
time-use research 283–4
divorce 282, 283, 291
and bankruptcy 468, 469
Dodd-Frank Act (2010), US 370, 385, 432 n. 46, 434, 485
Dreamwerks Prod. Group, Inc. v SKG Studio (1998) 235 n. 52
drug patents 178, 192–3
Duckwall v Rees (1949) 33
due care 46–7, 48, 49, 51, 52, 55–6, 57, 58, 67 n. 26, 69, 79
duty to defend 498–500
duty to indemnify 414, 498, 499
duty to settle 500–2
Dynamic Integrated Model of Climate and the Economy (DICE) 519
earnings, and division of household labor 285
EarthInfo, Inc. v Hydrosphere Res Consultants, Inc. (1995) 25 n.
easements 153, 158, 159, 164
conservation 196
economic damages 98, 131
economic organization, and intellectual property 203–4, 207–9
economic-dependency model of household labor 284, 288–9
economic-exchange model see economic-dependency model
ecosystem services 512
Edgar v MITE, Corp. (1982) 368
education levels, male, and household labor 288
efficient breach of contract 5, 10, 20–40, 313–16
critiques of 23–5
gain-seeking breach 313, 316
loss-avoiding breach 313–14, 316
moral issues 23–4, 25, 26, 29–31
EME Homer City Generation, L. P. v EPA (2012) 528 n. 20
Emergency Planning and Community Right to Know Act, US 525
emotional distress damages 96, 481, 497
employees
care, level of 78, 79, 80, 81, 82, 83
strict liability 79, 80–1, 82
employers
negligent supervision 405
strict liability 406
vicarious liability see vicarious liability
Employers Mut. Cas. Co. v PIC Contractors, Inc. (1998) 498 n. 20
employment
and agency 400–1
and environmental regulation 514–15, 518–19
employment protections
employment discrimination litigation 296–7
mandatory benefits 295–6, 297–302
and women’s caregiving responsibilities 295–302
endowment effect theory 101, 211
energy paradox 515–16
Energy Tax Prevention Act, US 518 n. 8
Entergy Corp. v Riverkeeper, Inc. (2009) 517
enterprise liability 406
entitlements 151, 163–4, 165–6
property rules and liability rules 309–13
and transactions costs 309–10, 311–12, 312–13
entity property 149, 159, 168, 169–71
entity shielding 339
entity theory of the corporation 343–4
environmental justice 511
(p. 564) environmental policy 509–43
cost-benefit-analysis 510–20
anf changing political context 516–19
behavioral economics and the energy paradox 515–16
discounting and future generations 512–512–14
employment effects 514–15, 518–19
social cost of carbon 519–20
instrument choice 520–6
cost-effectiveness 520–1
enforcement constraints 521
grandfathering 522–3, 526
labeling and disclosure 522, 525–6
market mechanisms 523–5, 526, 529, 530
versus command and control 521–2
social norms mechanism 526
and uncertainty 521
jurisdictional allocation 526–30
jurisdictional mismatch 528
and lack of global agreement on climate change 528–9
state innovation 529–30
Environmental Protection Agency (EPA) 518, 525, 526, 530
environmental rights 511
EPA v EME Homer City Generation, L. P. (2014) 528 n. 20
equity 159–62, 167
Ethernet 257, 258
European Emissions Trading System (ETS) 524, 529
exclusion strategies, property rights 158–9, 170–1
exclusivity 259, 261, 269, 270, 275
expectation interest 20, 22–3, 24, 38
damages 3–6, 7, 8, 12, 23, 26, 27, 28, 29, 30, 31, 32, 36–7, 38, 314
and change in circumstance 9
fungible commodities 10
limits of 9–11
supercompensatory 10, 11
undercompensatory 10
liability rule protection 20, 25, 26–7 n. 13
property rule protection 25, 26 n. 13, 28
expertise see information/expertise
false advertising 221, 222
family and household economics 280–307
caregivers, legal protections for 295–302
gender leisure gap 290, 291
gender pay gap 290, 291–2
household decision-making models,
bargaining models 281–3
nonunitary models 281
unitary model 280–1
working hours, full-time versus part-time 291–2
Family and Medical Leave Act (FMLA) (1993), US 295–6, 298, 300–1
family responsibility discrimination (FRD) 297
family-friendly workplace policies 293, 294, 299, 300
fashion industry, and intellectual property 204, 205–6, 245
Federal Communications Commission (FCC) 273
Federal Insecticide, Fungicide, And Rodenticide Act (2012), US 516
Federal Reserve Act, US 433
federalism, and corporate law 359–60
fiduciary contracts 30, 31
fiduciary duties 169, 170, 339, 348, 352, 368, 413, 419
fiduciary law 168, 169
financial crisis (2008) 424, 433, 435, 484
financial regulation 423–46, 481
capital requirements 429–32, 438–9, 440–1
and financial complexity 426, 427
macroprudential regulation 435–41
breaking transmission of systemic shocks 439–40, 442
limiting triggers of systemic shocks 435–9, 442
stabilizing systemically important firms and markets 440
microprudential regulation, correcting market failures 425–9, 442
monitoring through stress testing 434–5
ring-fencing 432–4, 440
solvency requirements 440–1
(p. 565) Financial Services (Banking Reform) Act (2102), UK 433
Financial Services Modernization Act (1999), US 433 n. 50
Finland, bankruptcy 461
firm boundaries, and intellectual property 203–4, 207–9
firms, versus the corporation 337–8
Fisher Separation Theorem 170
fishing rights 189
see also whaling
fixed amount of pain-and-suffering damages 100, 106–7
forseeability 317–18
France
bankruptcy 448, 473
environmental policy 513
franchise taxes 358, 362 n. 4, 365
Delaware 388–9, 390
franchise theory of corporate purpose 348, 349
fraud 13, 16, 161
insurance 497
vicarious liability for 403, 407–8
Free and Open Source Software (FOSS) 256, 257, 258, 264–5, 267, 271
free-riding 245, 246, 312
freedom of contract 3–4, 11, 22
fungible good contracts 315
gambling, and personal bankruptcy 470
game theory 149, 191, 259, 281, 282, 295, 298, 494 n. 17
garnishment of wages 465–6, 470, 471
Gassner v Lockett (1958) 24 n. 11
Geduling v Aiello (1974) 296
Gen. Elec. Broad. Co. (1978) 223 n. 10
gender gap
in household labor 285
in pay 290, 291–2
gender leisure gap 290, 291
gender roles, and childcare 293–4
gender-construction model of household labor 289
gender-ideology model of household labor 287–8
General Electric Co. v Gilbert (1976) 296
Georgia, corporate law 372
Germany
bankruptcy 473
damage schedules 113
Giant Food Inc. v Satterfield (1992) 102
Gilman Yacht Sales, Inc v FMB Invs, Inc. (2000) 35 n. 25
Glass-Steagall Act, US 433
Global Warming Solutions Act (AB 32) (2006), California 530
Golden Eagle Archery v Jackson (2003) 97
Golden Rule 100–2
good faith 30 n. 18, 162, 414
good will 400
GPL (General Public License) 265
Graham v John Deere Co. (1965) 220 n. 1
Gramm-Leach-Bliley Act (1999), US 433 n. 50
green growth 511
Green Open Access repositories 268
greenhouse gas emissions 509, 512, 519–20, 526
banking and/or borrowing 522
global approach to 528–9
offset mechanisms 522
state regulation of 529
tradable allowance systems 522, 524–5, 526, 529, 530
Greenhouse Gas Reporting Program (GGRP) 525–6
guaranty funds 484 n. 5, 485, 488
Hadley v. Baxendale (1854) 14
Harvard Malpractice Insurers Medical Error Prevention Study (MIMEPS) 111–12
Hawk-Dove game 154
health insurance/insurers 63, 67–8, 75–6, 122, 131, 468, 489, 490, 491
hedge funds 424, 437
hedonic damages 97
hedonic loss 101
Henderson v Atl. Pelagic Seafood (2011) 103
Hokie Spirit Memorial Fund 110
household economics see family and household economics
Hunt v. K-Mart Corp (1999) 104
IBM 264
ICQ 273
(p. 566) ideal worker paradigm 292, 293, 297
imperfect information, and contracting over liability 71
imputed knowledge 404, 413
in rem 149, 153, 166, 167
inalienability 163, 168, 210
income, loss of, and bodily injury 323–5
incomplete contracts 72, 153 n. 4, 314
increase, law of 155
indemnity, duty of 414, 498, 499
Independent Commission on Banking (Vickers Report), UK 433
independent contractor rule 85–6
induced demand medicine see offensive medicine
information 239–55, 260, 261, 400
congestion or overgrazing 249–50, 251
distribution problems 246–50
low marginal cost of production 248, 250
nonexcludability assumption 242–5, 251, 260
nonrivalrous nature of 248–9, 250, 251, 260, 269, 270
public good model of 239–42, 244, 246, 250
reward schemes for production of 246
scientist’s concept of 240
underproduction 239, 242–6, 250
underusage 250, 260
usage and value relationship 251–2
information asymmetry 61 n. 16, 239, 241, 247–8, 250, 251, 399
in financial markets 425–6, 427
and insurance law 482
information commons see open-access commons
information costs 86
injurer 50–2
and tort liability 42–3, 48–57, 59 n. 12, 60
victim 51 n. 8
information failure 425–6, 437, 442
information/expertise
injurer investment in 51–2, 53–4, 55, 56
marginal benefit of 54, 57, 65
marginal cost of 54, 57, 65
in medical care context 63, 64, 65, 66, 67
infrastructure goods 256, 257, 261–2, 270
inherent agency power 415
injunctions, versus damages 163–6
injury, serious permanent 48, 52 n. 8
innovation 256, 258, 261, 269
decentralization of 261
Institutional Analysis and Development (IAD) framework 259
insurance 77, 481–508
adverse selection 482, 489, 491, 492–3
and behavioral economics 482, 490–1
first-party 58
fraud 497
guaranty funds 484 n. 5, 485, 488
health 63, 67–8, 75–6, 122, 131, 468, 489, 490, 491
indemnity 498
moral hazard 482, 499
principal-agent problems 483, 484
shadow 486
systemic risk in 494
insurance law in the courts 491–502
bad faith 496–8
contra proferentem doctrine 493–4
duty to defend 498–500
duty to settle 500–2
insurance policy interpretation and ex post policy regulation 492–6
reasonable expectations doctrine 494–5, 496
insurance regulation 483–91
antidiscrimination laws 488–9
consumer protection regulation 482, 484, 486–8
nudging toward better insurance equilibria 490–1
solvency regulation 483–6
intellectual property 150, 168, 171, 200–19, 239, 241, 244, 245–6, 260, 261
contextualization 202–9, 213
firm boundaries, and economic organization 203–4, 207–9
negative spaces 203, 204–6
platform technologies 203, 206–7
methodological diversity 209–14
empirical studies 209–10
(p. 567)
experimental studies 211–13
models and analytics 210–1
intentional infliction of emotion distress 96 n. 1
Intergovernmental Panel on Climate Change (IPCC) 529
internal ratings-based (IRB) risk-assessment 431
International Association for the Study of the Commons 183
International Financial Stability Board 440
International Intellectual Property Protection Alliance (IIPPA) 204
International Monetary Fund 440
International News Service v Associated Press (1918) 250
International Organization for Standardization (IOS) 264
International Telecommunications Union (ITU) 264
Internet 257, 260, 261
Internet protocols 256, 271, 277
TCP/IP 257, 258, 264, 272–3
Inwood Lab. v Ives Lab. (1982) 227 n. 16
Italy, pain and suffering damage schedules 113
Jarvis v Swan Tours (1972) 320 n. 10
Jobs and Energy Permitting Act (2012), US 518 n. 8
Jobs Through Growth Act, US 519 n. 8
joint and several liability rule 128–9 n. 10, 135
judgment-proof agents 405, 406, 501
Judicial Studies Board, UK 112
Kirk v Wash. State Univ. (1987) 97
knowledge 261
Kyoto Protocol 524, 529
labor force participation
female 284, 286, 301
gender divergence in 292
and ideal worker paradigm 292, 293
land
anticommons in 193
surveying 168
Lanham Act (1946), US 222, 223, 228 n. 22, 230 n. 25, 232
legal personality, corporate entities 338–9, 339–40, 351
legislated pain-and-suffering damage schedules 100, 110–12
leisure gap, gender 290, 291
leverage ceilings 438
Lewis v Holmes (1903) 320 n. 12
liability
caps on consequential damages 322–3
forseeability of losses 317–18
limited 85, 169, 339, 340–1, 364, 365, 378, 387, 388, 437
nonpecuniary loss 320–1
pollution 495
pure economic loss 318–20
regulatory 50
waiving of 74
liability insurance 51 n. 8, 77, 491, 498–9, 500–1
directors’ and officers’ 363–4
medical malpractice 122, 126
liability rule protection 20, 25, 26–7 n. 13, 309–13, 314
versus property rule protection 159, 163, 164, 165–6
licenses, open access 168, 207, 265–6
Liggett v Lee (1933) 343
Liikanen Report 433
limited liability 85, 169, 339, 340–1, 364, 365, 378, 387, 388, 437
limited partnership 418
limited-liability companies (LLCs) 392–3
limited-liability partnerships (LLPs) 392–3, 418–19
liquidated damages 32–7, 316, 325–7
liquidation, and corporate bankruptcy 448–9, 450, 451, 452, 455, 458–9, 461, 462
liquidity 441
liquidity default 435, 437
litigation costs
arbitration 59
strict liability versus negligence 58–9
long-term production theory of corporate purpose 353
(p. 568) Longshore and Harbor Worker’s Compensation Act 110
loss
of consortium damages 96–7
of enjoyment of life (hedonic damages) 97
forseeability of 317–18
nonpecuniary 320–1
pure economic loss 318–20
Loss of Pleasure of Life (LPL) scale 100, 104
McFadden v Fuentes (1990) 35
McGarry v Horlacher (2002) 97
Major Depressive Disorder (MDD) 99
malingering 99
managerialist theory of corporate purpose 350
marital status, and division of household labor 289–90
market failures
agency failure 426–7, 437, 442
information failure 425–6, 437, 442
rationality failure 426, 437, 442
risk marginalization 428–9
market risk 430
Market Share Liability (MSL) doctrine 329
market transactions, as solution to commons tragedy 180, 183
markets, and distribution of information 247–8
Massachusetts
corporate law 380
environmental policy 529
maternity-related leave 295–6, 298, 300–2
Matos v Clarendon Nat. Ins. Co. (2002) 97
maturity transformation 435–7
medical costs as a basis for pain and suffering 100, 103–4
medical malpractice 43, 62–7, 120–47
accidental error 63, 65
Clinical Practice Guidelines (CPGs) 121, 123, 137–40, 142
Communication and Resolution Programs (CRPs) 121, 140–1
contracting over liability 70–7
custom standard 123, 124, 138
damage limitations 121, 127–36, 137, 141–2
and cardiac and obstetric care 133–6
collateral source reforms 128, 129 n. 10, 135
and healthcare utilization 130–6
joint and several liability reform 128–9 n. 10, 135
noneconomic damage caps 120, 128, 129, 130, 131, 134, 135–6, 141
and quality of care 136
and reduction in awards and claiming 128–9
defensive medicine 121, 122, 125–7, 130, 132, 137, 138, 330
detection of errors 122, 124–5, 138, 141
error in judgement rule 124
imperfectly informed producers 62–7
informed consent 127
for insured patients 67–8, 132, 136
liability insurance 122, 126
negligence liability 43, 64–7
offensive or induced demand medicine 121, 122, 127, 134, 135, 136, 138
offsetting risks principle 327, 329–31
physician investment in information/expertise 63, 64, 65, 66, 67
probabilistic recoveries 327–9
reasonableness standard 123, 138
respectable minority rule 123–4
risk-averse victims 77
standard of care 121, 122, 123–4, 141
treatment selection 64, 65, 66–8, 122, 127, 329–30
uninsured patients 64–7
men
and household labor 284, 285, 286, 287–8, 289, 291
and education levels 288
and marital status 289–90
and race 290
and ideal worker paradigm 292
mental anguish damages 96, 97
Mercury and Air Toxics Standards (MATS) 518, 526
Mining Jobs Protection Act, US 518 n. 8
Mishna, the 101 n. 3
mitigation, breach of contract 23, 23–4 n. 8
Mkt Place P’ship v Hollywood Hangar, LLC (2007) 35
(p. 569) Model Business Corporation Act, US 362, 367, 381, 392
Model Unfair Claims Settlement Practices Act (UCSPA), US 497
money-market mutual funds 424, 435–6
monopoly 194–5
moral hazard 61 n. 16, 436, 442, 482, 499
moral issues, efficient breach of contract 23–4, 25, 26, 29–31
mortality, and personal bankruptcy 471
mortgage default, and bankruptcy 474
mortgage-backed securities 427
Moss & Raley v Wren (1909) 33
N Am Steel Corp v Siderius (1977) 36 n. 26
N Ill gas Co v Energy Coop, Inc. (1984) 34
Nabisco, Inc. v PF Brands, Inc. (1999) 231 n. 28
National Ambient Air Quality Standards (NAAQS), US 516, 517
National Association of Insurance Commissioners 111, 112
National Practitioner Data Base 128, 129
negative spaces, intellectual property 203, 204–6
negligence 48, 49, 50, 54, 56–7, 58, 62, 81, 82, 317, 318
accidental 51–3, 54, 56, 66, 67, 68
with contributory or comparative negligence 43, 45, 46–7, 56–7, 77
deliberate 47, 52, 67
litigation costs and settlement 58–9
medical malpractice 43, 64–7
pure 45, 46
negligent infliction of emotional distress 86 n. 1
negligent supervision 405
Nemmers v United States (1988) 97
Netherlands, damage schedules 113
network theory 153–4
Nevada, corporate law 366–7, 376–7, 393, 394
New Institutional Economics 158
New State Ice Co. v Liebmann (1932) 359
nexus of contracts theory 346–7, 399, 401
Non-binding Age-Adjusted Multipliers (NBAAM) 103, 104, 111
noneconomic damage caps
medical malpractice 120, 128, 129, 130, 131, 134, 135–6, 141
pain-and-suffering
fixed caps 100, 107
flexible caps 100, 107–8
nonexcludability 269, 275
information 242–5, 250, 251, 260
nonpecuniary loss 320–1
countervailing deterrence argument 321
marginal utility of money argument 321
nonprofit corporations 340, 353
nonrivalry 269
information 248–9, 250, 251, 260, 269, 270
North Carolina v EPA (2008) 528 n. 20
nuisance 150, 152, 154, 159, 163, 164–5, 166, 319
Ocean State Physicians Health Plan, Inc. v Blue Cross & Blue Shield of R.I. (1988) 493 n. 16
offensive medicine 121, 122, 127, 134, 135, 136, 138
Office of Fair Trading, UK 490
offsetting risks principle 327, 329–313
Ohio corporate law 380
Ontario Noneconomic Loss Study (ONELS) 111–12
open-access commons 180 n. 3, 186, 188, 189, 256–79
Free and Open Source Software (FOSS) 256, 257, 258, 264–5, 267, 271
Internet protocols 257, 258, 264, 271, 272–3, 277
open-access publication 257, 267–8, 270–1
and positive externalities 269, 270–1, 277
reliance on queuing 256
symmetric use privileges 256, 269, 277
types of 275, 276
and uncertainty, freedom to operate, and exploration 269, 271–5
unlicensed wireless spectrum 256, 257, 258, 262–4, 271, 272, 273–4, 277
Wikipedia and other commons-based peer production 257, 265–7
open-access licenses 168, 207, 265–6
open-source platforms 207, 256, 257, 258, 264–5, 267, 271
operational risk 430
(p. 570) opportunism 160, 161, 165, 167
Oregon, environmental policy 529
organizational activity levels 78, 79, 81
organizations, tort liability 77–81
entity-level versus individual liability: the neutrality result 78–81
O’Shield v Lakeside Bank (2002) 33
Ostrom commons 257, 258–60
overreliance problem 6, 8, 316, 317
overuse 185
of common resources 179–81, 187, 188
ownership 157–8, 210
children’s intuitions about 212–13
co- 168
common see anticommons; commons
and control, separation of 170, 340, 346
P2PValue project 266–7
Pagliero v Wallace China Co. (1952) 228 n. 19, 228 n. 21
pain-and-suffering damages 96–9
“fair and reasonable compensation” 100
horizontal equity 97, 98, 100
intentional torts 96, 98
malingering, problem of 99
negligent torts 96
and scientific assessment of pain and suffering 98–9
vertical equity 100
and victim exaggeration of losses 97, 98
pain-and-suffering damages, estimation of 99–115
Golden Rule 100–2
Loss of Pleasure of Life (LPL) scale 100, 104
medical costs as a basis for pain and suffering 100, 103–4
per diem 100, 102–3
Quality-Adjusted Life Years (QALY) 100
routinization 100, 105–14
commission-created damage schedules 100, 113–14
court-based damage schedules 100, 112–13
fixed amount for the entire injury 100, 108–10
fixed amount of pain-and-suffering damages 100, 106–7
legislated damage schedules 100, 110–12
noneconomic damage fixed caps 100, 107
noneconomic damage flexible caps 100, 107–8
parental leave see maternity-related leave
Paris Agreement on climate change (2016) 530
partial disability 110
partnership 341, 342, 399, 401–3, 420–1
as an entity 402, 414, 419
limited 418
limited liability 392–3, 418–19
problems of shared ownership and control,
misappropriation of property and partner collusion with third parties 419–19
partner authority to contract with third parties 415–16
partner torts and vicarious partnership liability 417
vicarious partner liability for contracts and torts 417–19
passing off 221, 223
patents 194–5, 203, 204, 208, 209–10, 220, 241, 245, 246, 250, 270, 277
drug 178, 192–3
technology 193
Patient Protection and Affordable Care Act of 2010, US 120, 482, 489
pay
gender gap in 290, 291–2
see also wages
payday loans 470
pedis possessio 156
Peeveyhouse v Garland Coal & Mining Co. (1962) 14
Pennsylvania, corporate law 371, 378, 380
per diem 100, 102–3
Perfect Bayesian Separating Equilibrium (PBSE) 70, 73, 74
personal bankruptcy 447, 449, 462–74
and adverse events 468, 469
consumption insurance 449, 462–6, 467–8
and credit markets 472–4
(p. 571)
and debtors’ labor supply 471
default versus bankruptcy (informal bankruptcy) 465–6, 470
and entrepreneurial activity 472
future earnings exemption 463, 464–5, 468
and gambling 470
and mortality 471
option value of filing for 467
and payday loans 470
and portfolio composition 471
reasons for filing for 468–70
strategic/economic view of 468, 469, 470
and wage garnishment 465–6, 470, 471
waiving the right to file for 466–7
wealth exemptions 463, 464–5, 467–8, 471, 472–3
Pierce v N.Y. Cent.R.R.Co. (1969) 97
Pigovian taxes 6, 511
Plasticolor Molded Prods. v Ford Motor Co. (1989) 288 n. 19
platform technologies, and intellectual property 203, 206–7
PLoS (Public Library of Science) journals 268
Policy Analysis of the Greenhouse Effect (PAGE) model 519
Political Economy Research Institute 519
political theory of corporations 348
pollution
liability 495
possession 148–9, 155, 156–7
adverse 154
title rules on 157, 158
Post-Traumatic Stress Disorder (PTSD) 99
precautions 49–50
optimal 41, 42, 49, 50–2, 53–4, 55, 82
Pregnancy Discrimination Act (PDA), US 296
price terms, contract law 32
principal-agent collusion 403–13
collusion to mislead the third party about an agent’s solvency 409–12
collusion to mislead the third party about the principal’s intention to contract 404–5
collusion to mislead the third party about the principal’s solvency 412
collusion to mislead the third party about the transaction 407–8
collusion to mislead the third party into thinking an agency relationship does not exist 408–9
collusion to mislead the third party into thinking that an agency relationship exists 408
collusion to shield the principal from harmful information 413
collusion to shield principal from tort liability 405–6
principal-agent problems 426–7
insurance 483, 484
principal-agent relationship 338, 345–6, 399–400
private ordering 41, 42
private property 171, 172, 180, 182, 183, 184, 186, 187, 277
privatization 187
of commons 180, 181, 183, 184, 185, 188, 259
probabilistic recoveries 327–9
products liability 43, 59–77, 481, 495
contracting over liability 70–7
contractual liability with informed consumers and complete contracts 69–70
contractual liability versus tort liability 68–9
risk-averse victims 77
when all parties are perfectly informed 60–1
when consumers cannot observe quality 61–2
promises, contractual 3, 4–5, 20, 23, 24, 26, 29
property 148–77
bundle of rights view 150, 151, 152, 170
common see anticommons; commons
entitlements 151, 163–4, 165–6
entity property 149, 159, 168, 169–71
full property benchmark 150–2
incompleteness 153
intellectual see intellectual property
ontology for 154–8
ownership 157–8, 168, 210
(p. 572)
possession 148–9, 154, 155, 156–7
private 171, 172, 180, 182, 183, 184, 186, 187
public 171, 172
salience and convention 154–6
separation 149, 150, 166, 167, 168, 169, 170, 171, 172
spillovers or externalities 149–50, 158–9, 171
standardization 167, 168
state 186–7
strategic behavior problems 149, 150, 159, 165, 166, 167, 168, 169, 170, 171
as a system 150, 151, 152–4
property rights 150, 210–11, 245–6, 258
extended 168–72
interconnection problem 168
mixed regimes 171–2
property rights, delineation of 158–66
damages versus injunctions 163–6
exclusion versus governance 158–9, 170–1
law versus equity 159–62
property rule protection 25, 26 n. 13, 28, 309–13, 314
versus liability rule protection 159, 163, 164, 165–6
property theory of the corporation 345–6, 353
proprietorships 341, 342
Protect America’s Energy and Manufacturing Jobs Act (2011) 518 n. 8
Pruitt v Allied Chemical Corp. (1981) 319 n. 9
psychic damages 97
public choice theory 259, 522–3
public corporations 340, 353, 358
public good(s) 220, 234–5, 244 n. 9, 257, 261
congestible 260, 261, 269, 271
information as 239–42, 244, 246, 250
public property 171, 172
publication, open–access 257, 267–8, 270–1
publication (creative works) 211, 212
Publ’ns Int’l, Ltd. v Landoll, Inc. (1998) 228 n. 19
punitive damages 24, 25, 52 n. 9, 59 n. 13, 497
pure economic loss 318–20
Qualitax Co. v Jacobson Products Co. (1995) 223 n. 10, 227 n. 15, 228 n. 20
Quality-Adjusted Life Years (QALY) 100, 104–5
Quora 266
race, and division of household labor 290
rationality failure 426, 437, 442
Ray Farmers Union Elevator Co v Weyrauch (1975) 34
reasonable expectations doctrine 494–5, 496
reciprocal causation 163
Recycling Coal Combustion Residuals Accessibility Act (2011), US 518 n. 8
Reducing Regulatory Burdens Act (2011), US 518 n. 8
Regional Greenhouse Gas Initiative (RGGI) 530
regulation 41, 42
anticommons 190
commons 180, 183, 185
Regulation Q, US 424
regulatory arbitrage 426, 430
Regulatory Freeze for Jobs Act (2012), US 519 n. 9
regulatory liability 50
relative-resources model of household labor 284–5
reliance damages 3, 6, 314
reliance interest 20
remedies 308–33
disgorgement 24, 25 n., 27, 28, 29
measure of recovery 323–7
partial recoveries 327–31
promisee’s incentives 316–17
property rules and liability rules 309–13
scope of liability 317–23
specific performance 7–8, 23, 24, 25, 27, 28, 29, 32, 33, 36, 38, 313, 314, 315
see also damages
renegotiation of contracts 7–9, 25, 28, 29, 73–4, 75
renewable energy subsidies 529–30
respondeat superior 83, 84, 85
Restatement (Second) of Agency 410
Restatement (Second) of Torts 123
Restatement (Third) of Unfair Competition 221 n. 4, 229
(p. 573) restitution damages 3, 28 n. 15
restitution interest 20
reverse passing off 221
Rhoades v Walsh (2009) 103
ring-fencing 432–4, 440
risk
credit 430
market 430
operational 430
risk marginalization 428, 437
risk neutrality 57
risk-averse victims 57–8, 77
Risk-Based Capital (RBC) rules 485
Safe Drinking Water Act (2012), US 516
Sarbanes-Oxley Act (2002) 367
satisficing 354
savings and loan (S&L) industry 439
Schreiber v Burlington Northern, Inc. (1985) 367
scientific publication, open-access to 267–8, 270–1
securities 426, 427
Securities and Exchange Commission (SEC) 370, 371, 384, 385 n. 23, 386
securitization 424, 430, 434
Seffert v Los Angeles Transit Lines (1961) 98, 110
semicommons 171
separation of ownership and control 170, 340, 346
shadow banking 424, 432, 436, 437, 442
shadow insurance 486
shareholder value theory of corporate purpose 350–1, 353
Skype 273
small business bankruptcy 472, 473
Smith v Van Gorkam (1985) 363, 364
Snepp v United States (1980) 24 n. 11
social cost of carbon 519–20
social goods 261
social welfare 41, 44, 45, 51, 53, 58, 65, 66, 77, 80, 308, 314
solidarity goods 251–2
solvency regulation, in insurance markets 483–6
solvency requirements 440–1
Sony Corp. of America v Universal City Studio, Inc. (1984) 249
special damages 103
specific performance remedy 7–8, 23, 24, 25, 27, 28, 29, 32, 33, 36, 38, 313, 314, 315
specificatio 155
Specified Medical Conditions Matrix 109
Spur Industries, Inc. v Del E. Webb Development Co. (1972) 164–5, 311 n. 3
Stack Overflow 266
stakeholder welfare theory of corporate purpose 350, 351–1
standard form contracts 71, 72, 75
strict liability 47, 52, 53, 55, 57–8, 61 n. 16, 501
with contributory negligence 43, 45, 47, 50, 57, 77
and damages 45, 56
employees 79, 80–1, 82
employers 406
litigation costs and settlement 58, 59
pure 46
structured investment vehicles (SICs) 424
subsidies, renewable energy 529–30
Sullivan v O’Connor (1973) 320 n. 11
sustainable development 511–12
Sweden
bankruptcy 461
pain-and-suffering damage schedules 113–14
systemically important financial institutions (SIFIs) 440, 441
takeover regulation 367–72, 378–9, 380, 381, 383, 384
Talmud, the 101 n. 3
TCP/IP 257, 258, 264, 272–3
team production theory of the corporation 347–8, 352, 354
technology patents 193
telecomms anticommons 193
Tennessee, corporate law 372
thing definition 155, 170
thinghood 149
things, possessory 156–7
(p. 574) “three times specials” approach 103
time inconsistency of contracts 72, 73–4
time-availability model of household labor 285–7
title, rules of 157, 158
tort 308–9, 481
apparent agency in 408
standard of care 323–5
tort liability 41–95
and compensation 42 n. 2, 323–5
and deterrence 42 n. 2, 43, 58, 59, 63, 70, 71, 78, 79, 83, 86
foreseeability of losses 317–18
and information costs 42–3, 48–57, 59 n. 12, 60
in market settings 43–4, 59–77
nonpecuniary loss 320–1
pure economic loss 319–20
and transactions costs 42, 49, 60
versus contractual liability 68–9
total disability 110
Toxic Release Inventory (TRI) 525
Toxic Substance Control Act (2012), US 516
trade dress 222, 226–8, 230
trademark protection 201 n. 6, 201 n. 7, 203 n. 13, 205, 220–38, 249
benefits of trademarks 223–4
boundaries of 224–9
continuum of protection for word marks 225–6
likelihood of confusion standard 221, 222, 228–9, 234, 236
trade dress and functionality 226–8
classic trademark law 222–31, 232
common law foundation of 222, 237
costs of 229–31
avoidance costs 229–30
barrier to entry 229
failure to register 230–1
dilution law 221, 222, 231–6, 237, 249
blurring and tarnishment 232–3, 235–6, 249, 252
boundaries on 233–4
costs and benefits of 234–6
and producer goodwill 222, 232–4, 235–6
experience goods 224
inspection goods 224
reliance goods 224
tragedy of the anticommons 178, 179, 181–2, 184, 188–90, 194, 195, 196–7
cooperative solutions to 189, 190
game theory approaches to 191
regulatory solutions to 190
tragedy of the commons 150, 155, 171, 178, 180, 182–3, 190, 245, 258, 263, 277
solutions to
cooperation 183, 185
market transactions 180, 183
privatization 180, 181, 183, 184, 185
regulation 180, 183, 185
state coercion 184
transaction costs 42, 49, 60, 150, 151, 152, 153, 163, 164, 170, 267, 399, 400, 511
asymmetric 312–13
and efficient breach argument 315
and entitlements 309–10, 311–12, 312–13
transactional agency 400, 406
transparency regulation 241
trespass 153, 154, 156, 158, 161, 166, 167
Trustees of Dartmouth College v Woodward (1819) 343
trusts 149, 167, 169, 170
Two Pesos, Inc. v Taco Caban, Inc. (1992) 223 n. 10
Ty Inc. v Perryman (2002) 233 n. 38, 233 n. 43
unconscionability, theory of 161
underuse 185, 187
of common resources see anticommons
undisclosed principal 403–4, 412–13, 418
liability of agent of 408–9
liability of 409–12
unfair competition 220–1, 222, 237
Uniform Commercial Code (UCC) 20, 21 n. 2, 24, 27 n. 14
liquidated damages clauses 34, 35–6, 325
remedy limitations 34, 35
Uniform Partnership Act, US 415, 416
(p. 575) unique good contracts 315
unitary model of household functioning 280–1
“rotten kid” theorem 281
United Kingdom (UK)
bankruptcy 448, 473
environmental policy 513
financial regulation 433
limited shareholder liability 341
personal injury damage schedules 112–13
United Nations Framework Convention on Climate Change (UNFCCC) 528–9
Univ of Colo Found v Am Cyanamid Co (2003) 25 n.
Valu Engineering, Inc. v Rexnord Corp. (2002) 227 n. 18
VaR (value–at–risk) model 427
Varnell v Louisiana Tech University (1998) 97
veil piercing, doctrine of 341, 419
Velocity Express Mid–Atl., Inc. v Hugen (2003) 102
vicarious liability 401, 405–6
by estoppel 403, 408
for fraud 403, 407–8
partnership law 417–19
for physical torts 403, 407
Vickers Report, UK 433
Vioxx 109 n. 10
Volcker Rule 433
W. Bend Mut. Ins. Co. v Arbor Homes LLC (2013) 492
wage garnishment 465–6, 470, 471
wages
women’s 297–8, 300–2
see also pay
warranty of authority 412
warranty of merchantability 12–13, 16
Watteau v Fenwick (1893) 411–12
welfare economics 510–11
whaling 156–7, 162, 189
Wikipedia 257, 265–7
Williams Act (2010), US 367, 368, 371
willingness to accept (WTA) 101
willingness to pay (WTP) 101–2
wireless communications 260, 261
unlicensed spectrum 256, 257, 258, 262–4, 271, 272, 273–4, 277
women
caregiving responsibilities 293
and employment protections see employment protections
and household labor 284–5, 286–7, 289
and ideal worker paradigm 292, 297
labor force participation 284, 286, 301
and work-life balance 293, 294–5
see also gender
work-life/family balance 290, 292–5
and gender leisure gap 291
preference theory 293, 294–5
Worker’s Compensation system 100, 105, 110–11
working hours, full–time versus part–time 291–2
wrongful death 48, 52 n. 8
X–It Prods, LLC v Walter Kidde Portable Equip, Inc. (2001) 24 n. 11