Manipulation on Trial: Economic Analysis and the Hunt Silver Case

by Jeffrey C. Williams

Overview

The unprecedented rise and fall in silver's price during 1979-80 resulted in charges of market manipulation against the Hunt brothers of Dallas, charges that led to a lengthy trial and a guilty verdict. In this book Jeffrey Williams, who was an expert witness in the actual trial, focuses on the economic analysis used at the trial, the relationship of that analysis to the attorneys' arguments, and its effectiveness before the jury. Manipulation on Trial draws broadly applicable lessons from this important case. Through a series of essays, it investigates the elusive definition of manipulation, the difficulties of interpreting statistical evidence, the imprecision in calculating damages, and the hazards introduced when economic analysis enters complex litigation.

Product Details

ISBN-13:	9780521063470
Publisher:	Cambridge University Press
Publication date:	05/29/2008
Edition description:	New Edition
Pages:	268
Product dimensions:	6.00(w) x 8.90(h) x 0.80(d)

Table of Contents

List of figures; List of tables; Preface; Foreword Thomas O. Gorman; 1. Why the Hunt silver case? 2. Turmoil in the silver market; 3. Identifying a manipulation; 4. Testing for the cause of the price rise in silver; 5. Determining the appropriate price of silver; 6. Inferring manipulative intent; 7. The predicament of economic analysis in the courtroom; Glossary of commodity market terms; References; Index.

Editorial Reviews

"...should be interesting and instructive reading for business economists, especially for those who would venture into the loosely-charted, interdisciplinary world of forensic economics." Samuel C. Webb and Jen-Chi Cheng, Southern Economic Journal

"For those interested in the intersections of law and economics, the volume will be a wonderful resource." Jonathan R. Macey, Journal of Economic Literature

From the Publisher