Rethinking the constitutionality of ceremonial deism
The US Supreme Court's Establishment Clause jurisprudence is compromised by its acceptance of ceremonial deism practices, and the Court should find these practices unconstitutional to ensure that the government does not favor any particular religion. Practices such as prayer before legislative sessions and the Pledge of Allegiance have been found not to violate separation of church and state, and other practices have been validated because they did not advance religion any more than these practices. This strained jurisprudence will lead to a further erosion of minority religious rights if the Court does not act to preclude all endorsement of religion.
Publication Name: Columbia Law Review
Equilibrium formation of class action suits
Pure adverse selection never occurs in equilibrium. This is borne out by the findings of a study of the equilibrium incentives of individual plaintiffs to join a class action suit using a model featuring a single defendant facing multiple plaintiffs with heterogeneous claims. Adverse selection arises, wherein low-stakes plaintiffs join the class action while high-stakes plaintiffs opt out, when the defendant has complete information about each plaintiff's case. When information is incomplete, low-stakes plaintiffs may opt out for fear of sending a bad signal, which offsets the tendency for adverse selection.
Publication Name: The Journal of Public Economics
Why they deserve it: Michael Eisner is worth $200 million a year
Many of the super-rich deserve the astronomical compensations they receive for their jobs. The head of a multinational corporation may make a decision that effects the economics of billions of people worldwide. Not only do these decisions effect stock markets, but also the regular wages of many.
Publication Name: The New York Times Magazine
- Abstracts: Why the PC and the television never shall meet. Swamplands under siege
- Abstracts: Why the best doesn't always win. The ethological analysis of imitation
- Abstracts: Special education is not a scandal. Vidgame software seen soaring
- Abstracts: Why the women are fading away. Stone age kin
- Abstracts: Where the thrills of old keep coming round: in an age of plastic theme parks, Kennywood is the real thing. Mutual funds with a heart