Abstract

http://ssrn.com/abstract=1745141
 
 

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Exit and the American Illness


Erin A. O'Hara O'Connor


Vanderbilt University - Law School; Gruter Institute for Law and Behavioral Research

Larry E. Ribstein (Deceased)


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

January 21, 2011

Illinois Program in Law, Behavior and Social Science Paper No. LBSS11-08
Vanderbilt Public Law Research Paper No. 11-5
Vanderbilt Law and Economics Research Paper No. 11-9

Abstract:     
This essay, prepared for a book on the effect of regulatory, liability, and litigation inefficiencies on the global competitive position of the U.S., focuses on the role of the US federal system. We show that, although multiple US states offer significant potential for jurisdictional choice to address misguided or inappropriate law, this system is only a partial solution to these problems and can itself be a source of bad law and excessive litigiousness. Federal law and enforcement of contractual choice-of-law, choice-of-court, and arbitration clauses provide some, but only partial, relief. As a result, choice of law and jurisdiction rules potentially expose firms that do business nationally or internationally to oppressive law in any of the US states. Without reform of the rules regarding jurisdictional choice the US is losing an opportunity to exploit the edge in international competition it might get from its federal system.

Number of Pages in PDF File: 33

JEL Classification: K12, K13, K22, K41

working papers series





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Date posted: January 23, 2011  

Suggested Citation

O'Hara O'Connor, Erin A. and Ribstein (Deceased), Larry E., Exit and the American Illness (January 21, 2011). Illinois Program in Law, Behavior and Social Science Paper No. LBSS11-08; Vanderbilt Public Law Research Paper No. 11-5; Vanderbilt Law and Economics Research Paper No. 11-9. Available at SSRN: http://ssrn.com/abstract=1745141 or http://dx.doi.org/10.2139/ssrn.1745141

Contact Information

Erin A. O'Hara O'Connor
Vanderbilt University - Law School ( email )
131 21st Avenue South
Nashville, TN 37203-1181
United States
615-322-3025 (Phone)
615-322-6631 (Fax)
Gruter Institute for Law and Behavioral Research
158 Goya Road
Portola Valley, CA 94028
United States
Larry Edward Ribstein (Deceased) (Contact Author)
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

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