Thursday, March 12, 2009

Bargaining in the Shadow of the Law ?

Oh hey, it's March...

I've been meaning to post, just haven't had anything to post about. Still haven't heard from 2 of my law schools. Still accepted into 9 and rejected at 2. Still deferred at 1 and still have only withdrawn from 1 (I really need to get on that!).

However, after my spring break, I'll be attending an open house, so yay! That'll be something to write about, of course it isn't until March 31st. Figures.

I'm supposed to be in my Law and Economics class, but alarm didn't go off (or rather it did, but was on silent) and my body alarm didn't wake me up until 8:03 am. But! since I feel guilty about missing class I did some capstone research. And I did actually do the reading for class, so I figured I'll email my professor in 30 or so minutes and make an appointment to meet with him to go over some of the questions I had over the articles.

And on a related note, can someone explain to me what 'bargaining in the shadow of the law' means? Much appreciated.

1 comment:

teasinglydiverse said...

I'll take a stab :) We only casually talked about that in one of my classes yesterday, so this is just the gist. Basically, when the law is very clear on a topic, people adjust their bargaining and take the law into account. I was in property and we were talking about bargaining for the right to cross someone else's land. If the law somehow limits the way you can use the land, and the parties are aware of that law, they will bargain with it in mind.
I've also seen the phrase used talking about divorce proceedings. Parties know what the law is regarding alimony, property division, etc. and those laws give them "bargaining chips" and their negotiations are taking place "in the shadow of the law".

I don't know if that explanation makes sense in context with where you were reading it...but that's my extremely vague and general understanding of the concept :)