Abstract

http://ssrn.com/abstract=10042
 
 

Citations



 


 



Evolution and Spontaneous Uniformity: Evidence from the Evolution of the Limited Liability Company


Bruce H. Kobayashi


George Mason University - School of Law

Larry E. Ribstein (Deceased)


University of Illinois College of Law; PERC - Property and Environment Research Center


Economic Inquiry, Vol. 34, 1996.

Abstract:     
This paper examines whether the process of unguided state by state evolution of Limited Liability Company (LLC) Statutes has lead to efficient interstate uniformity. Our evidence suggests significant uniformity has been produced in cases where the net benefits of uniformity are positive, and that such uniformity has not been produced by herd behavior. Our results are consistent with Alchian's intuition about the role of market processes, and suggests that the survival of efficient rules, fostered by the rational behavior of decentralized economic actors, are produced by forces beyond the control or foresight of individual lawmakers or legislatures.

JEL Classification: K22, P10, D72

Accepted Paper Series





Not Available For Download

Date posted: July 2, 1998  

Suggested Citation

Kobayashi, Bruce H. and Ribstein (Deceased), Larry E., Evolution and Spontaneous Uniformity: Evidence from the Evolution of the Limited Liability Company. Economic Inquiry, Vol. 34, 1996.. Available at SSRN: http://ssrn.com/abstract=10042

Contact Information

Bruce H. Kobayashi (Contact Author)
George Mason University - School of Law ( email )
3301 Fairfax Drive
Arlington, VA 22201
United States
703-993-8034 (Phone)
703-993-8088 (Fax)
HOME PAGE: http://mason.gmu.edu/~bkobayas
Larry Edward Ribstein (Deceased)
University of Illinois College of Law ( email )
504 E. Pennsylvania Avenue
Champaign, IL 61820
United States
217-244-9881 (Phone)
217-244-1478 (Fax)
PERC - Property and Environment Research Center
2048 Analysis Drive
Suite A
Bozeman, MT 59718
United States

Feedback to SSRN


Paper statistics
Abstract Views: 949

© 2014 Social Science Electronic Publishing, Inc. All Rights Reserved.  FAQ   Terms of Use   Privacy Policy   Copyright   Contact Us
This page was processed by apollo1 in 0.344 seconds