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Precontractual Reliance
(University of Chicago Press, 2001)
During contractual negotiation, parties often make (reliance) expenditures that would increase the surplus should a contract be made. This paper analyzes decisions to invest in pre-contractual reliance under alternative ...
A New Approach to Valuing Secured Claims in Bankruptcy
(Harvard University, Harvard Law School, 2001)
In many business bankruptcies in which the firm is to be preserved as a going concern, one of the most difficult and important problems is that of valuing the assets that serve as collateral for secured creditors. Valuing ...
The Overlooked Corporate Finance Problems of a Microsoft Breakup
(American Bar Association, 2001)
This paper identifies problems with the ordered breakup of Microsoft that seem to have been completely overlooked by the government, the judge, and the commentators. The breakup order prohibits Bill Gates and other large ...
A New Approach to Takeover Law and Regulatory Competition
(Virginia Law Review Association, 2001)
The paper puts forward a new approach to two corporate subjects that have been intensively debated in the last three decades, the regulation of takeovers and state competition in the production of corporate law. During ...
Property Rights and Liability Rules: The Ex Ante View of the Cathedral
(Michigan Law Review, 2001)
Beginning with Calabresi's and Melamed's seminal article, economic analysis of property rights and liability rules has been largely done from an ex post perspective, taking as given the presence of the parties involved and ...
Federal Intervention to Enhance Shareholder Choice
(Virginia Law Review Association, 2001)
The modern approach to corporate reorganizations begins in a curious place. Everywhere else in corporate law, we focus on those who control the firm and on when others should be able to go to court and reverse their ...