Analytical methods for lawyers / Howell E. Jackson [and others].
2011
K212 .A53 2011 (Map It)
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Details
Title
Analytical methods for lawyers / Howell E. Jackson [and others].
Published
New York, NY : Foundation Press/Thomson Reuters, [2011]
Copyright
©2011
Call Number
K212 .A53 2011
Edition
[Second edition].
ISBN
9781599419213 (hbk.)
1599419211 (hbk.)
9781609300371 (pbk. ; teacher's manual)
1609300378 (pbk. ; teacher's manual)
1599419211 (hbk.)
9781609300371 (pbk. ; teacher's manual)
1609300378 (pbk. ; teacher's manual)
Description
xxii, 542 pages : illustrations ; 26 cm.
System Control No.
(OCoLC)700426307
Note
Accompanied by: Teacher's manual (1 v. (various pagings), 2012.
Includes index.
Includes index.
Bibliography, etc. Note
Includes bibliographical references and index.
Series
Record Appears in
Local Note
Library lacks teacher's manual.
Added Author
Table of Contents
Preface
v
Preface to the Second Edition
xiii
1.
Decision Analysis
1
1.
Introduction
1
2.
Decision Trees
5
A.
A Simple Problem
6
B.
Uncertainty
7
C.
Risk Aversion
10
D.
Application: Settlement Negotiation
11
E.
Application: Land Purchase
14
F.
Generalizations
21
G.
Test Your Skill
21
3.
Acquiring the Necessary Information
24
A.
Structure
24
B.
Probabilities
25
C.
Payoffs
28
4.
Sensitivity Analysis
28
5.
Suggestions for Further Reading
30
2.
Games and Information
33
1.
Introduction to Game Theory
33
2.
Description of Games
34
3.
Solving Games
40
4.
Moral Hazard and Incentives
47
5.
Adverse Selection
52
6.
Bargaining
55
7.
Suggestions for Further Reading
58
3.
Contracting
61
1.
Introduction
61
2.
Why Contracts are Made
62
A.
Differences in Valuation
62
B.
Advantages in Production
63
C.
Complementarities
64
D.
Borrowing and Lending
64
E.
Allocation of Risk
64
F.
Different Expectations
65
3.
Principles and Checkpoints for Contracting
65
A.
Enlarging the Contractual Pie
65
B.
Incentive Issues
67
C.
Uncertainty and Risk Bearing
68
D.
Practical Enforceability of Contractual Conditions
69
E.
Disputes and Their Resolution
70
4.
Production Contracts
71
A.
Incentives and Component Prices
71
B.
Incentives and Component Quality
74
C.
Uncertainty and Renegotiation
76
D.
Uncertainty and Risk Bearing
77
E.
Application: School Gymnasium
79
F.
Developing Arguments in Contract Litigation
82
5.
Principal and Agent Contracts
84
A.
Incentives
85
B.
Risk Bearing
88
C.
Application: Coffee Shop Manager
90
6.
Other Types of Contracts
95
A.
Joint Undertakings
95
B.
Sale or Lease of Property
98
C.
Loan Contracts
100
7.
Resolving Contractual Disputes
103
A.
Contingent Provisions
103
B.
Damages for Breach
105
C.
Arbitration
107
8.
Negotiating the Contract
108
A.
Both Sides Should Understand How to Enlarge the Pie
108
B.
Be Greedy but not too Greedy
109
9.
Suggestions for Further Reading
110
4.
Accounting
111
1.
Introduction
111
2.
Three Basic Accounting Formats
113
A.
Balance Sheets
113
B.
Income Statements
118
C.
Summaries of Cash Flows
121
3.
Double-Entry Bookkeeping and the Accountant's Frame of Reference
124
A.
The Transactional Nature of Financial Statements
124
B.
The Fundamentals of Double-Entry Bookkeeping
125
4.
Some Fundamental Concepts
133
A.
The Big Picture
133
B.
The Conservative Bias of Accountants
136
C.
The Matching Principle and its (Profound) Implications
137
D.
Boundary Problems
145
5.
The Institutional and Legal Structure of Accounting
148
A.
Institutions and the Creation of Accounting Standards
148
B.
Finding Financial Statements and Related Information
151
6.
The Analysis of Financial Statements
159
A.
Liquidity
160
B.
Solvency
161
C.
Managerial Efficiency
162
D.
Profitability
163
E.
Earnings per Share and Price-Earnings Ratios
165
7.
Suggestions for Further Reading
167
2009 Amazon.com Annual Report
168
5.
Finance
209
1.
Introduction
209
2.
The Foundations of Financial Theory
212
A.
The Theory of the Firm
212
B.
The Roots of Modern Finance
221
C.
The Goals of Finance
229
3.
The Time Value of Money
229
A.
Comparing Current Dollars to Future Dollars
230
B.
Simple versus Compound Interest
232
C.
Finding the Present Value of a Single Future Payment
233
D.
Valuing a Stream of Future Payments
235
E.
Internal Rates of Return
238
F.
What Interest Rate Should You Use?
240
G.
Take-Home Lessons on the Time Value of Money
243
4.
Key Concepts in Corporate Finance
244
A.
The Efficient Market Hypotheses
244
B.
Risk and Return
250
C.
The Value of Diversification
255
D.
The Capital Asset Pricing Model
259
5.
The Valuation of Assets
261
A.
Contemporaneous Transactions Involving Substantially Similar Assets
262
B.
Market Valuation Estimates Derived from Financial Statements
263
C.
Discounted Cash Flow Analysis
264
6.
Suggestions for Further Reading
267
Eskimo Pie Corporation
269
6.
Microeconomics
283
1.
Introduction
283
2.
The Theory of the Competitive Market
284
A.
Demand Curves
284
B.
Supply Curves
293
C.
Determination of Market Price and Quantity
296
D.
Government Intervention in Markets
300
E.
Social Welfare and the Market
303
F.
Social Welfare Evaluation of Government Intervention in Competitive Markets
313
3.
Imperfect Consumer Information
315
A.
Importance
315
B.
Problems: Inappropriate Purchases and Distorted Product Quality
316
C.
Policy Responses
317
4.
Monopoly and Related Market Behavior
320
A.
Why Monopoly Arises
320
B.
How a Monopolist Sets Price
321
C.
The Principal Economic Arguments Against Monopoly
326
D.
Price Discrimination
328
E.
Government Policy and Monopoly
330
F.
Oligopoly and Monopolistic Competition
333
5.
Externalities
335
A.
What are Externalities?
335
B.
The Problem of Externalities: Private Behavior is not Socially Desirable
336
C.
Resolution of Externality Problems Through Bargaining
336
D.
Resolution of Externality Problems Through Markets
339
E.
Resolution of Externality Problems Through Legal Rules
339
6.
Public Goods
344
A.
Definition
344
B.
Ideal Supply
344
C.
Inadequate Supply by the Private Sector
345
D.
Public Provision
346
E.
Qualifications
346
F.
Direct Versus Indirect Public Provision
347
7.
Welfare Economics
347
A.
What is Welfare Economics?
347
B.
Individual Well-Being
348
C.
Social Welfare
348
D.
Social Welfare Maximum: Efficiency and Distribution
351
E.
Social Welfare and the Market
351
F.
Answers to Questions and Common Criticisms
351
8.
Suggestions for Further Reading
355
7.
Economic Analysis of Law
357
1.
Introduction
357
A.
The Economic Approach
357
B.
What Distinguishes Economic from Other Analysis of Law?
359
C.
History of the Economic Approach
359
2.
Property Law
360
A.
Definition of Property Rights
360
B.
Justifications for Property Rights
361
C.
Emergence of Property Rights
362
D.
Division of Property Rights
364
E.
Acquisition and Transfer of Property
365
F.
Conflicts in the Use of Property: Externalities
368
G.
Public Property
368
H.
Acquisition of Public Property
368
I.
Property Rights in Information
370
3.
Torts
376
A.
Unilateral Accidents and Levels of Care
376
B.
Bilateral Accidents and Levels of Care
380
C.
Unilateral Accidents, Levels of Care, and Levels of Activity
380
D.
Accidents Involving Firms as Injurers
385
E.
Risk Aversion, Insurance, and Liability
390
F.
Liability and Administrative Costs
395
G.
Economic Analysis of Tort Law versus Traditional Analysis
396
4.
Contracts
396
A.
Definitions and Framework of Analysis
397
B.
Contract Formation
398
C.
Incompleteness of Contracts
400
D.
Interpretation of Contracts
401
E.
Damage Measures for Breach of Contract
401
F.
Specific Performance
407
G.
Renegotiation
410
H.
Legal Overriding of Contracts
412
I.
Extralegal Means of Enforcement
413
5.
Civil Litigation
414
A.
Bringing of Suit
414
B.
Settlement versus Trial
420
C.
Trial
427
6.
Public Law Enforcement and Criminal Law
429
A.
Basic Framework
429
B.
Enforcement Given the Probability of Detection
430
C.
Enforcement When the Probability of Detection is Variable
432
D.
Monetary Sanctions versus Imprisonment
434
E.
Incapacitation
434
F.
Criminal Law
435
7.
Welfare Economics
437
A.
Framework of Welfare Economics
437
B.
Distributional Objectives Should not Affect Legal Policy, Given Income Taxation
438
C.
Normative Analysis Based on Notions of Fairness (Apart from the Purely Distributional)
438
D.
Remarks
440
8.
Criticism of Economic Analysis of Law
441
A.
Inability to Predict Human Behavior and Irrationality
441
B.
Indeterminacy of Recommendations
442
C.
Political Bias
442
9.
Suggestions for Further Reading
443
8.
Fundamentals of Statistical Analysis
445
1.
Descriptive Statistics
446
A.
Making Sense of Data
447
B.
Histograms and Frequency Distributions
447
C.
Numerical Descriptors/Summaries of Distributions
457
D.
The Normal Distribution
464
E.
Z-Scores and the Z-Table
467
2.
One-Variable Inferential Statistics
469
A.
Samples and Sampling
469
B.
Survey Data and Validity
472
C.
Hypothesis Testing
476
D.
Estimation
483
E.
Statistical Significance and the Real World
484
3.
Suggestions for Further Reading
486
Z-Table
487
9.
Multivariate Statistics
489
1.
Bivariate Statistics
489
A.
Scatterplots
490
B.
Linear Relationships
492
C.
The Pearson Correlation Coefficient
494
D.
Simple Linear Regression
501
E.
Residuals
510
F.
Limitations of Linear Regression
512
2.
Multiple Regression
513
A.
Multiple Regression and Discrimination Litigation
515
B.
Things That Can Go Wrong
521
3.
Suggestions for Further Reading
524
T-Table (abbreviated)
526
Glossary of Statistical Terms
527
Index
535