Law JournalFeeds » Economics

The regulatory anticommons of green infrastructures

admin — Thu, 02 Feb 2012 18:16:48 +0000

Abstract

Development of green infrastructures (renewable energy plants and transmission networks) is urgently needed if significant
reductions of greenhouse gas emissions are to be accomplished in the next few decades. But the huge financial investments
required by these infrastructures will not be undertaken without a well-designed regulatory framework. This paper argues that
barriers to the implementation of such a framework can best be understood by drawing analogies to the Law and Economics literature
on anticommons. Although situations of ownership anticommons (many owners with veto rights) and regulatory anticommons (many
regulators with veto rights) display some differences from the point of view of the preferences and the coordination costs,
it is submitted that this analytic framework can be employed to assess and criticize recent EU and US proposals which try
to improve planning and siting procedures for cross-border green infrastructures. The literature on anticommons also suggests
that effective remedies to suboptimal resource use are directly dependent on the design of the coordination mechanisms among
all the regulatory levels.

Content Type Journal Article
Pages 1-30
DOI 10.1007/s10657-012-9298-3
Authors
- Giuseppe Bellantuono, School of Economics, University of Trento, Via Inama 5, 38122 Trento, Italy

Journal European Journal of Law and Economics
Online ISSN 1572-9990
Print ISSN 0929-1261

Paul Lugard (ed.): The international competition network at ten. Origins, accomplishments and aspirations

admin — Tue, 31 Jan 2012 07:04:29 +0000

Paul Lugard (ed.): The international competition network at ten. Origins, accomplishments and aspirations

Content Type Journal Article
Category Book Review
Pages 1-1
DOI 10.1007/s10657-011-9290-3
Authors
- Juergen G. Backhaus, Krupp Chair in Public Finance and Fiscal Sociology, University of Erfurt, Nordhauser Strasse 63, 99089 Erfurt, Germany

Journal European Journal of Law and Economics
Online ISSN 1572-9990
Print ISSN 0929-1261

Dixit versus Williamson: the ‘fundamental transformation’ reconsidered

admin — Wed, 25 Jan 2012 18:05:18 +0000

Abstract

Comparing the literature on hold-up and strategic entry deterrence leads to a puzzling role for sunk or specific investments
in affecting investor’s incentive. In one case, non-redeployable investments decrease investor’s ex-post bargaining power.
In the other they increase it. When the entry deterrence effect is acknowledged, the threat of hold-up against investor is
largely weakened. Contrary to previous literature, in this respect, asset specificity may even constitute an endogenous enforcement
device for incomplete contracts. We conclude that the impact of asset specificity on investor’s post-contractual power, far
from being general, depends on the nature of interactions between contractual arrangements and market structure.

Content Type Journal Article
Pages 1-15
DOI 10.1007/s10657-012-9299-2
Authors
- Antonio Nicita, University of Siena, Siena, Italy
- Massimiliano Vatiero, IDUSI and IdEP, Università Svizzera italiana, Lugano, Switzerland

Journal European Journal of Law and Economics
Online ISSN 1572-9990
Print ISSN 0929-1261

Peter Michael Doralt: Rationality at work. Logics of collective action in the labour market

admin — Tue, 24 Jan 2012 06:51:58 +0000

Peter Michael Doralt: Rationality at work. Logics of collective action in the labour market

Content Type Journal Article
Category Book Review
Pages 1-1
DOI 10.1007/s10657-012-9300-0
Authors
- Juergen G. Backhaus, Krupp Chair in Public Finance and Fiscal Sociology, University of Erfurt, Nordhäuser Strasse 63, 99089 Erfurt, Germany

Journal European Journal of Law and Economics
Online ISSN 1572-9990
Print ISSN 0929-1261

Claudia Desogus: Competition and innovation in the eu regulation of pharmaceuticals, the case of parallel trade

admin — Tue, 24 Jan 2012 06:51:57 +0000

Claudia Desogus: Competition and innovation in the eu regulation of pharmaceuticals, the case of parallel trade

Content Type Journal Article
Category Book Review
Pages 1-1
DOI 10.1007/s10657-012-9302-y
Authors
- Juergen G. Backhaus, Krupp Chair in Public Finance and Fiscal Sociology, University of Erfurt, Nordhäuser Strasse 63, 99089 Erfurt, Germany

Journal European Journal of Law and Economics
Online ISSN 1572-9990
Print ISSN 0929-1261

Mohamed Cherkaoui: Morocco and the Sahara, social bonds and geopolitical issues

admin — Tue, 24 Jan 2012 06:51:56 +0000

Mohamed Cherkaoui: Morocco and the Sahara, social bonds and geopolitical issues

Content Type Journal Article
Category Book Review
Pages 1-1
DOI 10.1007/s10657-012-9304-9
Authors
- Juergen G. Backhaus, Krupp Chair in Public Finance and Fiscal Sociology, University of Erfurt, Nordhäuser Strasse 63, 99089 Erfurt, Germany

Journal European Journal of Law and Economics
Online ISSN 1572-9990
Print ISSN 0929-1261

Stefan Heinrich: Covenants als Alternative zum institutionellen Gläubigerschutz, Eine rechtsvergleichende und ökonomische Analyse; Schriften zum Wirtschaftsrecht, Band 228

admin — Tue, 24 Jan 2012 06:51:53 +0000

Stefan Heinrich: Covenants als Alternative zum institutionellen Gläubigerschutz, Eine rechtsvergleichende und ökonomische Analyse; Schriften zum Wirtschaftsrecht, Band 228

Content Type Journal Article
Category Book Review
Pages 1-1
DOI 10.1007/s10657-012-9303-x
Authors
- Juergen G. Backhaus, Krupp Chair in Public Finance and Fiscal Sociology, University of Erfurt, Nordhäuser Strasse 63, 99089 Erfurt, Germany

Journal European Journal of Law and Economics
Online ISSN 1572-9990
Print ISSN 0929-1261

Robert Nehring: Kritik des Common Sense, Gesunder Menschenverstand, reflektierende Urteilskraft und Gemeinsinn: der Sensus communis bei Kant

admin — Tue, 24 Jan 2012 06:51:52 +0000

Robert Nehring: Kritik des Common Sense, Gesunder Menschenverstand, reflektierende Urteilskraft und Gemeinsinn: der Sensus communis bei Kant

Content Type Journal Article
Category Book Review
Pages 1-1
DOI 10.1007/s10657-012-9301-z
Authors
- Juergen G. Backhaus, Krupp Chair in Public Finance and Fiscal Sociology, University of Erfurt, Nordhäuser Strasse 63, 99089 Erfurt, Germany

Journal European Journal of Law and Economics
Online ISSN 1572-9990
Print ISSN 0929-1261

Book review

admin — Tue, 24 Jan 2012 06:51:52 +0000

Book review

Content Type Journal Article
Category Book Review
Pages 1-3
DOI 10.1007/s10657-012-9306-7
Authors
- Jürgen G. Backhaus, Erfurt, Germany

Journal European Journal of Law and Economics
Online ISSN 1572-9990
Print ISSN 0929-1261

Karl Albrecht Schachtschneider: Verfassungsrecht der Europäischen Union. Teil 2: Wirtschaftsverfassung mit Welthandelsordnung

admin — Tue, 24 Jan 2012 06:51:52 +0000

Karl Albrecht Schachtschneider: Verfassungsrecht der Europäischen Union. Teil 2: Wirtschaftsverfassung mit Welthandelsordnung

Content Type Journal Article
Category Book Review
Pages 1-2
DOI 10.1007/s10657-012-9305-8
Authors
- Juergen G. Backhaus, Krupp Chair in Public Finance and Fiscal Sociology, University of Erfurt, Nordhäuser Strasse 63, 99089 Erfurt, Germany

Journal European Journal of Law and Economics
Online ISSN 1572-9990
Print ISSN 0929-1261

Konrad Walter: Rechtsfortbildung durch den EuGH, Eine rechtsmethodische Untersuchung ausgehend von der deutschen und französischen Methodenlehre

admin — Tue, 24 Jan 2012 06:51:52 +0000

Konrad Walter: Rechtsfortbildung durch den EuGH, Eine rechtsmethodische Untersuchung ausgehend von der deutschen und französischen Methodenlehre

Content Type Journal Article
Category Book Review
Pages 1-1
DOI 10.1007/s10657-012-9307-6
Authors
- Juergen G. Backhaus, Krupp Chair in Public Finance and Fiscal Sociology, University of Erfurt, Nordhäuser Strasse 63, 99089 Erfurt, Germany

Journal European Journal of Law and Economics
Online ISSN 1572-9990
Print ISSN 0929-1261

Recent Developments in EU Merger Control: 1 September 2010-31 August 2011

admin — Fri, 20 Jan 2012 09:27:39 +0000

During the period covered, there has been a marked increase in the number of Phase II investigations and a concomitant decrease in the number of Phase I clearances with commitments.

Significant issues such as parallel mergers, minority shareholdings, and warehousing were debated vigorously—and will have to be clarified in the years ahead.

Flaws have appeared in the cooperation between the Commission and NCAs in relation to upward referrals to the Commission with no guarantee of improvement as a result of the soon to be adopted Guidelines on Best Practices for communication between these authorities.

The Application of EU Competition Law in the Energy Sector

admin — Fri, 20 Jan 2012 08:07:08 +0000

The centre of gravity of EU competition law enforcement in the energy sector has shifted from the European Commission towards national competition authorities, which are following the lead set by the Commission over the last couple of years while also setting their own priorities.

The Commission is instead focusing on achieving the internal market for energy by regulatory means, by trying to ensure implementation of the third energy package and by facilitating the convergence of market rules in cooperation with ACER.

Perceived regulatory gaps in the regulation of wholesale energy trade have been addressed with a new transparency regulation, which is supposed to enhance regulatory oversight by imposing far-reaching reporting obligations on undertakings and prohibiting insider trading.

Economics behind the law: why number of divorce cases grows when families become wealthier?

admin — Tue, 17 Jan 2012 07:10:48 +0000

Abstract

In this paper we study the effects of increasing family wealth on the number of divorce cases in a society. We assume that,
when one party of a married couple seeks for divorce, the physical family wealth is equally divided between the homemaker
and the breadwinner according to the Law. Through some simple mathematical analysis we discover that the number of divorce
cases will increase when the amounts of family wealth increase. Our theoretical result is well-justified by the observation
from the Chinese society after the Reforms.

Content Type Journal Article
Pages 1-7
DOI 10.1007/s10657-011-9297-9
Authors
- Shuntian Yao, Department of Economics, Nanyang Technological University, Singapore, Singapore
- Euston Quah, Department of Economics, Nanyang Technological University, Singapore, Singapore

Journal European Journal of Law and Economics
Online ISSN 1572-9990
Print ISSN 0929-1261

June–September 2011

admin — Tue, 17 Jan 2012 06:45:29 +0000

Editorial of the New SGEI Package

admin — Thu, 12 Jan 2012 07:31:35 +0000

Protecting the Environment Without Distorting Competition

admin — Thu, 12 Jan 2012 07:31:35 +0000

Distortion of competition is often at the core of environmental regulation. In some cases, this is a necessary price to pay, since regulation has to favor certain industries or production techniques at the expense of others. However, stressing environmental protection should not let us forget that competition is no less important for EU objectives. The internal market has contributed to the European political, economic and social welfare as much as any other policy. Therefore, environmental regulation has to avoid or, at least, reduce the distortion of competition as much as possible. For the same reason, Competition policy cannot take into account environmental goals to the extent that it will not be able to fulfill its own purpose.

Competition Law in Regulated Industries: On the Case and Scope for Intervention

admin — Tue, 10 Jan 2012 09:54:00 +0000

In recent years, competition authorities have applied general competition rules in regulated industries, in addition to or instead of the regulation there in force.

This raises issues as the two sets of rules are not necessarily identical and the authorities in charge of applying them do not always pursue the same objectives.

This article proposes criteria helping to distinguish cases in which competition law is likely to be a more or less useful complement to regulation.

As for cases in which competition law may, in principle, be useful, the authors argue for an intervention that accounts for the objectives set by regulation.

The Conundrum of Shifting Orthodoxies: FTAs And Korea’s Currency Controls

admin — Fri, 06 Jan 2012 07:15:23 +0000

The financial services regime, comprising the General Agreement on Trade in Services and bilateral free trade and investment agreements, reflects the ‘orthodoxy’ of highly liberalized and lightly regulated financial markets that has supported the ascendancy of financialization. That orthodoxy has fractured as the post-2007 global financial crisis exposed systemic instability in the financialization model and the failings of the associated regulatory regime. Yet, binding and enforceable financial services and investment agreements tie governments to that regime. Although international institutions and commentators increasingly advocate alternative strategies, such as the imposition of currency controls, governments that adopt them risk legal challenges for breaching their trade obligations. This risk is illustrated by assessing South Korea’s capital controls of June 2010 against the market access, national treatment and transfers obligations, investment protections and prudential exceptions in Korea’s free trade agreements with the USA and the European Union. To date, states whose firms dominate global finance have resisted high-profile calls within and outside the World Trade Organization to revisit the financial services regime. If they maintain that position, these embryonic tensions seem likely to intensify. Placing unacceptable constraints on national governments could propel the trade in financial services regime towards a crisis of legitimacy.

Mineral Export Restraints and Sustainable Development–Are Rare Earths Testing the WTO’s Loopholes?

admin — Fri, 06 Jan 2012 07:15:23 +0000

China’s actions in limiting the export of rare earths have drawn the world’s attention. The USA, Japan, and the European Union (EU) have been frustrated with China’s measures, even threatening to bring the case to the WTO. These rare earth trade disputes are but the tip of the iceberg. Forms of export restraints on minerals have been increasingly practiced by developing countries, reflecting developing countries’ determination to upgrade their own economic condition against a broader backdrop of international economic transition in a mineral-hungry world. Such issues of mineral export restraints are deeply rooted in the traditional international trade structure, and in turn serve as a historic move to break it. The WTO’s consensus-based approach, with developing countries comprising more than two-thirds of WTO membership, has to accommodate this changing situation in both its judicial and negotiation scenarios. Accused of being trade-distorting and inconsistent with the WTO Agreement on the part of mineral export restraints, developing countries expect to defend themselves by reasons of environmental protection and conservation of exhaustible natural resources. This article anticipates that, in the next round of multilateral negotiation, the developed world will attempt to bring the issue of export restraints under multilateral mandates.

Certificates of Free Sale: Who is Being Protected from Whom?

admin — Fri, 06 Jan 2012 07:15:23 +0000

Certificates of Free Sale (CFS) are little known but widely used instruments in international trade. A CFS states that a product meets the regulatory requirements of the exporting country and can be sold freely in that country. Many developing countries require a CFS as a condition of importation in sensitive sectors, such as medical devices, pharmaceuticals, pesticides, cosmetics, and food products. This paper is the first major work to explore the legal implications of certificates of free sale. It describes various CFS requirements and examines the WTO-legality of trade restrictions imposed by importing countries based on the failure of exported goods to meet the domestic standards of the exporting country. The authors conclude that most CFS schemes are likely to violate WTO obligations. They suggest WTO-consistent ways of protecting legitimate developing country interests that eliminate the need for CFS schemes.

China’s Anti-Monopoly Law and its Merger Enforcement: Convergence and Flexibility

admin — Fri, 06 Jan 2012 07:15:23 +0000

As the world’s second largest economy and the world’s fastest growing economy, China is a late but significant entrant into the competition law club with the implementation of the Anti-Monopoly Law (AML) on 1 August 2008. This article provides a review of the enactment of the AML and a detailed discussion of the merger provisions and application of those provisions by the competition enforcement agency. Despite the short history of application of the AML, empirical findings on merger enforcement illustrate that China is making efforts to realize a soft convergence with international norms. Meanwhile, China’s gradual approach to convergence gives it the flexibility to stop, to adjust, and to make an exception whenever necessary to accommodate its transitional and growing economy.

EC – Fasteners: Opening the Pandora’s Box of Non-Market Economy Treatment

admin — Fri, 06 Jan 2012 07:15:23 +0000

On 15 July 2010, the Appellate Body of the WTO circulated its report in EC – Fasteners. In its report, the Appellate Body, for the first time, adjudicated the issue of non-market economy (NME) treatment towards imports from China and provided plausible interpretations of China’s special commitments under the Accession Protocol and certain articles of the Anti-Dumping Agreement. However, a number of NME-related questions remain unanswered owing to the scope of claims submitted by the applicants. Insofar as the enforcement of WTO rulings is concerned, legislation amendments, as required in the report, are imperative during the implementation process of the European Union. Furthermore, there is also the chance that the European Court will award duty repayment to importers that have been subject to NME country-wide duties.

Lomas v Firth Rixson: a curate’s egg?