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Samuel Issacharoff

Bio: Samuel Issacharoff is an academic researcher from New York University. The author has contributed to research in topics: Politics & Democracy. The author has an hindex of 8, co-authored 24 publications receiving 190 citations.

Papers
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Journal Article
TL;DR: For example, this article argued that human behavior is rational when it conforms to the model of rational choice, whatever the state of mind of the chooser, and that departures from this model would be random and would therefore not affect the overall power of the economic analysis.
Abstract: I. INTRODUCTION The emergence of the modern law and economics analysis generally is dated to the early 1960s with the publication of seminal work by Ronald Coase1 and subsequently by Guido Calabresi and Douglas Melamed.2 These articles laid the foundation for the relation between legal rules, wealth maximization, and transaction costs, which provided the pivotal application of economic analysis to legal problems.3 However, the current sweep of law and economics would have been inconceivable without Gary Becker's insight into the application of neoclassical comparisons of marginal utility to the stuff of everyday life.4 Becker's analysis of routine decision making in terms of the likely returns from marginal choices allowed for the expansion of law and economic analyses into virtually every area of law. This approach is the keystone for Richard Posner's introduction of the law and economics methodology: [E]conomics is the science of rational choice in a world-our world-in which resources are limited in relation to human wants. The task of economics, so defined, is to explore the implications of assuming that man is a rational maximizer of his ends in life, his satisfactions-what we shall call his "self-interest.' Rational maximization should not be confused with conscious calculation. Economics is not a theory about consciousness. Behavior is rational when it conforms to the model of rational choice, whatever the state of mind of the chooser.5 Clearly, the conception of rational utility calculations is key to this law and economics approach. But this conception is impossible without further simplifying assumptions. The most apparent assumptions are that, first, behavior could be presumed rational only when it conformed to the model of utility maximization, and second, that departures from this model would be random and would therefore not affect the overall power of the economic analysis. The combined effect of these initial assumptions in turn allows law and economics to operationalize its insights. Since virtually all law and economics scholarship exists at the theoretical plane, turning on formal models rather than observed behavior, the presumption of behavior conforming (in the aggregate) to the economic predictions was an indispensable move. To the extent that this economic model tried to understand individual patterns of thought, it relied on a highly reductionist view of the human psyche: [T]he economic approach does not assume that decision units are necessarily conscious of their own efforts to maximize or can verbalize or otherwise describe in an informative way reasons for the systematic patterns in their behavior. Thus it is consistent with the emphasis on the subconscious in modern psychology.6 Such attribution of microeconomic strategies to the human subconscious is not only extremely suspect; it serves to highlight the reductionist assumptions necessary for translating this first generation of applied economic insights into models of individual behavior. This reductionism invited a second-generation inquiry into the extent to which the law and economics methodology could survive outside the hermetically sealed environment of formal models. What if it were possible to relax the assumptions about human behavior and actually observe how individuals behave? What if in turn it were possible to use the resulting psychological insights to refine both legal analysis and legal rules to anticipate departures from presumed rational responses? The result could be, to quote a truly felicitous phrase, "economics with a higher 'R^sup 2^"7 Or, put more aggressively, "The future of economic analysis of law lies in new and better understandings of decision and choice."8 While I share the enthusiasm for a richer understanding of the behavioral dynamics of market actors, I wish to issue some cautions prior to the declaration of victory over more established economic analyses of the law. …

36 citations

Book
11 Jun 2015
TL;DR: In this paper, the authors argue that the most significant antidote to authoritarianism is the presence of strong constitutional courts, which serve as a bulwark against vulnerability to external threats as well as internal consolidation of power.
Abstract: Twenty-five years after the fall of the Berlin Wall, the democratic ascendency of the post-Soviet era is under severe challenge. While fragile democracies in Eastern Europe, Africa, and East Asia face renewed threats, the world has witnessed the failed democratic promises of the Arab Spring. What lessons can be drawn from these struggles? What conditions or institutions are needed to prevent the collapse of democracy? This book argues that the most significant antidote to authoritarianism is the presence of strong constitutional courts. Distinct in the third wave of democratization, these courts serve as a bulwark against vulnerability to external threats as well as internal consolidation of power. Particular attention is given to societies riven by deep divisions of race, religion, or national background, for which the courts have become pivotal actors in allowing democracy to take root.

28 citations

Journal ArticleDOI
TL;DR: In this paper, the authors proposed a new approach to the 12(b)(6) motion to dismiss by using cost shifting in the initial process of factual claiming and denials to create incentives for parties to acquire or reveal information germane to the motion, by forcing them to absorb the costs of either producing the information or denying its existence.
Abstract: This article proposes a new approach to the 12(b)(6) motion to dismiss. We propose the use of cost shifting in the initial process of factual claiming and denials to create incentives for parties to acquire or reveal information germane to the motion to dismiss by forcing them to absorb the costs of either producing the information or denying its existence. Our proposal would incentivize both parties to reveal information pertinent to the court’s decision. It promises to improve the operation of the motion to dismiss regardless of the substantive standard used to evaluate the sufficiency of the claims for relief.

22 citations

Journal ArticleDOI
TL;DR: In this paper, the authors explore various modes of judicial deferral, including suspended declarations of invalidity, prospective overruling and progressive implementation, and more implicit or forms of delay involving narrow rulings paired with broad dicta.
Abstract: Even many years after Marbury v. Madison, and even in the face of the spread of aggressive constitutional court review in democracies around the world, the ability of courts to assert their authority against the political branches continues to demand explanation. Especially in newly minted democracies, and most so in countries emerging from authoritarian rule, how courts can engage the misuse of state power remains a bit of a mystery. This Article examines the hitherto under-studied phenomenon of judicial deferral as providing some insight into how courts acquire the institutional capacity to engage in robust judicial review and, in particular, how the deferral of implementation avoids direct political confrontations for the judiciary. Unlike in the US, constitutional court decisions around the world frequently delay the practical effect of their decisions. The Article explores various modes of judicial deferral, including suspended declarations of invalidity, doctrines of prospective overruling and progressive implementation, and more implicit or forms of delay involving narrow rulings paired with broad dicta. It also considers different functions served by judicial deferral, including practical concerns about smooth transition from one legal regime to another, democratic legitimacy and dialogue, and more political concerns about ensuring the legal and political preconditions necessary for effective judicial review; and the connections between these various 'first' and 'second' order modes and functions of deferral.Once examined in this light, it turns out that various deferral-based strategies have been by courts in some of the most successful systems of constitutional review in recent years, including in Germany, India, Colombia and Indonesia. Finally, the Article turns to both the preconditions necessary for successful deferral and the corresponding risks when delay simply postpones an inevitable conflict.

15 citations

Posted Content
TL;DR: The role of equity financing of contingent litigation is now well rooted in Australia and establishing itself in Canada and the United Kingdom as well as also in the United States, as discussed in this article.
Abstract: Alternative sources of litigation funding are complicating the already difficult world of complex litigation. While still in its infancy in the United States, the role of equity financing of contingent litigation is now well rooted in Australia, and establishing itself in Canada and the United Kingdom as well. This Article examines the market gaps filled by litigation funders in Australia and then the potential role to be played in the United States. In particular, the Article looks to litigation funding as a way to potentially protect absent class members in class actions and other representative proceedings.

10 citations


Cited by
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Journal ArticleDOI
TL;DR: In this paper, the authors propose four bases of successor commitment to a family firm based on the organizational commitment literature: desire, normative, sense of obligation, calculative, and imperative.
Abstract: Although successor commitment toward family business has been identified as a key desirable attribute, commitment has been treated as a unidimensional construct in family business research. Drawing on the organizational commitment literature, we propose four bases of successor commitment to family firm—affective (based on perceived desire), normative (based on perceived sense of obligation), calculative (based on perceived opportunity costs involved), and imperative (based on perceived need). A model of antecedents and expected behavioral outcomes of each of these bases of commitment is developed. Related propositions are presented, as are the contributions to the literature, research and practical implications.

473 citations

Journal ArticleDOI
TL;DR: Scholarshave et al. as discussed by the authors found that congressional polarization is primarily a function of the differences in how Democrats and Republicans represent the same districts rather than a function on which districts each party represents or the distribution of constituency preferences.
Abstract: Both pundits and scholars have blamed increasing levels of partisan conflict and polarization in Congress on the effects of partisan gerrymandering. We assess whether there is a strong causal relationship between congressional districting and polarization. We find very little evidence for such a link. First, we show that congressional polarization is primarily a function of the differences in how Democrats and Republicans represent the same districts rather than a function of which districts each party represents or the distribution of constituency preferences. Second, we conduct simulations to gauge the level of polarization under various “neutral” districting procedures. We find that the actual levels of polarization are not much higher than those produced by the simulations. We do find that gerrymandering has increased the Republican seat share in the House; however, this increase is not an important source of polarization. C ontemporary politics in the United States is historically distinctive in at least two respects. The first is the ever-increasing polarization of political elites. As McCarty, Poole, and Rosenthal (2006) have documented, partisan differences in congressional voting behavior have grown dramatically to levels not seen since the early twentieth century. The second distinction is the historically low levels of competition in congressional elections. This is especially true of the House of Representatives, where 99% of incumbents standing for reelection were successful in the 2002 and 2004 elections. In the swing to the Democrats in 2006, no individual Democrats were defeated and even 89% of standing Republicans were reelected. Given the conjunction of these two patterns, it seems natural to draw a link; namely, the increased polarization of Congress is a direct result of the increasing ease of reelection. Presumably in an era of declining competition politicians no longer feel the need to reach out to moderate and independent voters. Instead politicians are free to pander to their base. Politicians who do not pander may face primary challenges by ideologically purer candidates. Istherealinkbetweenincreasedpolarizationanddecliningcompetition?Scholarshaveyettoestablishacom

236 citations

Journal ArticleDOI
TL;DR: This paper examined the perception of potential family business leaders from a behavioral economics theory perspective, and found that high financial and behavioral sunk costs, as well as high social and behavioral costs, affect the perceptions of potential business leaders.
Abstract: This article examines the perception of potential family business leaders from a behavioral economics theory perspective. The findings suggest that high financial and behavioral sunk costs, as well...

193 citations

Journal ArticleDOI
TL;DR: This article reviewed the literature on financial reporting misconduct from the perspectives of law, accounting, and finance, and established a common language for researchers interested in this line of research, described the main findings and challenges in these literatures, and provided directions for future research.
Abstract: Financial reporting fraud and other forms of financial reporting misconduct are a significant threat to the existence and efficiency of capital markets. This study reviews the literature on financial reporting misconduct from the perspectives of law, accounting, and finance. Our goals are to establish a common language for researchers interested in this line of research, describe the main findings and challenges in these literatures, and provide directions for future research. Although research on financial reporting misconduct faces challenges, those challenges provide significant opportunities to advance the literature, as the answers to many questions on financial reporting misconduct remain unsettled.

174 citations

Journal ArticleDOI
TL;DR: This article examined the antecedents of different bases of organizational commitment and intention to stay of later-generation family members who are currently working in their family firm and found that when these individuals' identity and career interests are aligned with their family enterprise, they experience affective commitment.
Abstract: This study examines the antecedents of different bases of organizational commitment and intention to stay of later-generation family members who are currently working in their family firm. Evidence from 199 Canadian and Swiss firms indicates that when these individuals' identity and career interests are aligned with their family enterprise, they experience affective commitment. Family expectations are associated with normative commitment. Individuals who are concerned about losing inherited financial wealth or who perceive a lack of alternative career paths stay with the family enterprise because of continuance commitment. Finally, individuals driven by desire or obligation exhibit low turnover intentions.

79 citations