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"-" : " " }function CreateXmlHttpObj1() {try {XmlHttpObj1 = new ActiveXObject("Msxml2.XMLHTTP");}catch(e) {try{XmlHttpObj1 = new ActiveXObject("Microsoft.XMLHTTP");}catch(oc) {XmlHttpObj1 = null;}}if(!XmlHttpObj1 && typeof XMLHttpRequest != "undefined") {XmlHttpObj1 = new XMLHttpRequest();}}function loadingTime() {//calculate the current time in afterloadvar afterload = (new Date()).getTime();//calculate the secondsclientTime = (afterload-beforeload)/1000;serverTime =  parseFloat(document.getElementById("serverTime").innerHTML);totalTime = (clientTime + serverTime).toFixed(3);document.getElementById("loadingtime").innerHTML = "and delivered in " + totalTime + " seconds";}function addLoadEvent(func) {var oldonload = window.onload;if (typeof window.onload != 'function') {window.onload = func;} else {window.onload = function() {if (oldonload) {oldonload();}func();}}}</script>    <title>SSRN JEL Code: J62</title>    <meta http-equiv="X-UA-Compatible" content="IE=edge">    <meta name="viewport" content="width=device-width, initial-scale=1">    <meta name="robots" content="noindex">        <meta name="description" content="SSRN JEL Code: J62">        <meta name="keywords" content="SSRN, JEL Code: J62">        <link rel="search"              type="application/opensearchdescription+xml"  href="https://privpapers.ssrn.com/sol3/opensearchdescription.xml"              title="SSRN" />    <script src="https://ajax.googleapis.com/ajax/libs/jquery/1.12.4/jquery.min.js"></script></head>    <body class="new-layout"><div id="genericToastr" class="generic-toastr"><div class="toastr-icon"><i id="toastrIcon"></i></div><div id="toastrMessage" class="toastr-mesage"></div><div class="toastr-close"><i class="icon icon-gizmo-delete" onclick="closeToastr()"></i></div><div class="toastr-link"><a id="toastrLink" href="#"></a></div></div>    <script language="javascript">//Language functionsfunction changeLanguage1(language, response){$.ajax({url: '/AltLanguage_ajax.cfm?type=changeLanguage&partid=1&strCode=en',cache: false,success: function(data) {// Update values in cookiesSet_Cookie('SITEID',language,'-1','/','.ssrn.com','');Set_Cookie('SITEID',language,'1000','/','.ssrn.com','');// Finally, perform redirectionif (response == 'reload') {window.location.reload();}else {window.location.href=response;}}});}function Set_Cookie( name, value, expires, path, domain, secure ) {// set time, its in millisecondsvar today = new Date();today.setTime( today.getTime() );/*if the expires variable is set, make the correctexpires time, the current script below will setit for x number of days, to make it for hours,delete * 24, for minutes, delete * 60 * 24*/if ( expires ) {expires = expires * 1000 * 60 * 60 * 24;}var expires_date = new Date( today.getTime() + (expires) );document.cookie = name + "=" +escape( value ) +( ( expires ) ? 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                    <strong>   142,193 </strong>Total downloads
                                
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                                  <span>Number of pages: 16</span>                                                                                                                    <span>Posted: 10 Oct 2016</span>                                                                                                                    <span>Last Revised: 14 Oct 2016</span>                                                                        </div>                                                                                            <div class="afiliations">                                    Accepted Paper Series                                    </div>                                                                                                                                                                    <div class="authors-list">                                    <a href="https://privpapers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=337751" 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                                                                        <span>Number of pages: 47</span>                                                                                                                    <span>Posted: 01 Jun 2004</span>                                                                                                            </div>                                                                                            <div class="afiliations">                                    Working Paper Series                                    </div>                                                                                                                                                                    <div class="authors-list">                                    <a href="https://privpapers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=331650" target="_blank">Arnaud Chevalier</a>                                    </div>                  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<div><i>Maryland Law Review, Vol. 70, No. 1, 2011, Indiana Legal Studies Research Paper No. 190</i>                                    </div>                                                                    <div class="note note-list">                                                                                <span>Number of pages: 18</span>                                                                                                                    <span>Posted: 25 Mar 2012</span>                                                                                                                    <span>Last Revised: 11 Jul 2013</span>                                                                        </div>                                                                                            <div class="afiliations">                                    Accepted Paper Series                                    </div>                                    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href="https://privpapers.ssrn.com/sol3/papers.cfm?abstract_id=2574587">Timing Law School</a>                                </span>                                </h3>                                                                                                                                <div><i>Journal of Empirical Legal Studies (2017), HLS Center on the Legal Profession Research Paper No. 2015-4, AccessLex Institute Research Paper No. 17-04</i>                                    </div>                                                                    <div class="note note-list">                                                                                <span>Number of pages: 40</span>                                                                                                                    <span>Posted: 08 Mar 2015</span>                                                                                                                    <span>Last 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Law                                    </div>                                                                                                                                                                                    <p><a class="btn-link versions-btn" tabindex="0" role="button" aria-label="Open tooltip with 3 versions of this paper" ><img src="https://privstatic.ssrn.com/cfincludes/img/icons/icon-small-multipleversion.png" alt="Multiple version icon">There are <span>3</span> versions of this paper</a></p><div class="tooltip bottom-left versions-tooltip" role="tooltip" id="versions-tooltip"><i class="icon-gizmo-delete tooltip-close" aria-label="Close modal" title="Close modal" role="button" tabindex="0" onkeypress="return closeTooltip(event)"></i><div class="tooltip-arrow"></div><div class="tooltip-inner"><div class="table papers-list"><div class="tbody"><div class="trow"><div class="actions"><a title="Free paper" href="javascript:void(0);" role="button" 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