Protection for Whom? Creditor Conflict and Bankruptcy

In the absence of a bankruptcy law, private debt collectionremedies generally result in an ad hoc disposal of the debtor'sassets, which reduces the aggregate value of creditors' claims.We show that creditors will often choose not to write privatecontracts that would prevent this inefficient behavior, eventhough these contracts would be to the mutual benefit of allcreditors. Our analysis therefore provides an economic rationalefor the existence of a bankruptcy law that makes a collectiveresolution compulsory for all creditors. We argue that sucha mandate is a requisite part of any effective bankruptcy system,including proposals for market-based resolutions of insolvency.     

The impact of complexity and reform on congressional committee output

Some investigators argue that recent reforms in Congress have made it more difficult for Congress to do its job, while others contend that growing complexity in the larger congressional environment has had this result. We test these competing explanations using selected measures of congressional committee inputs and outputs over a period of eight Congresses, 1961–1975. Analysis based on pooled time-series and cross-section data reveals that reform had no direct impact on our measures of committee inputs and outputs once the effects of underlying trends attributable to complexity in the external environment are controlled. Similar conclusions emerge when we compare committees in complex and noncomplex environments and also when we compare committees differentially affected by reform. We discuss methodological and policy implications of our findings.     

Judging presidential character: The demise of Gary Hart

This article investigates the public reaction to the scandal which effectively ended Gary Hart's quest for the 1988 Democratic presidential nomination. Employing NES panel data covering the period in which the scandal surfaced, and integrating arguments drawn from research on attitude change, media priming, and candidate evaluation, this analysis of the Hart case illuminates more general questions about how citizens respond to media communications during the course of an election campaign and of the factors that facilitate or inhibit attitude change. The investigation lends support to contemporary theories of attitude change that emphasize citizens' levels of political involvement and prior predispositions; uncovers evidence of media priming as views about controversial standards of morality were newly engaged in defining citizens' post-scandal evaluations of Hart; and yields evidence that negative responses to Hart in the wake of the scandal were tempered among citizens who typically weigh policy criteria alongisde candidate characteristics when formulating their overall candidate evaluations.     

Examining the relationship between routine activities theory and social disorganization: An analysis of property crime victimization

A property crime victimization survey was conducted of households in both high and tow crime neighborhoods in one southern city. A response rate of 68.5% was obtained. The study tested the premises of both the routine activities and social disorganization theories as they contribute to the likelihood of property crime victimization at the individual level. It was found that routine activities theory explained 28% of the property crime variance in the socially disorganized area (high crime) while only explaining 11% of the same variance in the low crime area. Separate measurements were used to establish the level of social disorganization in the two geographical areas. The beta coefficients reveal that in the high crime area, those most likely to be property crime victims are white, single homeowners who are not at home from 6 p.m. to 11 p.m., who have relatives living in their neighborhoods, and who interact with their neighbors. These findings lend marginal support to the routine activities model.