Most judges, lawyers, and scholars take it for granted that to charge a criminal defendant, the government needs only probable cause of guilt. But in fact, probable cause represents a choice, not a fixed element of our legal tradition. This Article begins with the history of the probable cause standard. It presents novel evidence that…
This Article explores the role of insurance as a substitute for direct regulation of risks posed by severe weather. In pricing the risk of human activity along the predicted path of storms, insurance can provide incentives for efficient location decisions as well as for cost-justified mitigation efforts in building construction and infrastructure. Currently, however, much…
Over the last fifteen years, numerous finance articles have examined the effect of antitakeover statutes (ATSs) on firm and managerial behavior. In this Article, we evaluate these studies from a theoretical-legal and an empirical-finance perspective. To assess the impact of an antitakeover statute from a theoretical perspective, one has to evaluate how the statute affects…
What do Russia’s incursion into Ukraine, the hacking of Sony, and democratic instability in Venezuela have in common? The U.S. response to each has been economic sanctions. In the twenty-first century, economic sanctions are perhaps the most frequently used tool in the U.S. foreign policy toolbox because they can inflict pain without having to resort…
