American Law and Economics Association

Twenty-Fourth Annual Meeting
May 8-9, 2014

All sessions to be held at the
Gleacher Center
450 North Cityfront Plaza Drive
Chicago, IL

American Law and Economics Association 2013-2014
Officers
President: Douglas G. Baird, University of Chicago
Vice President: Robert E. Scott, Columbia University
Secretary-Treasurer: Kathryn E. Spier, Harvard University

Board of Directors
Class of 2014
Bernie Black, Northwestern University
Albert Choi, University of Virginia
Gillian Hadfield, University of Southern California
Anup Malani, University of Chicago
Class of 2015
Henry E. Smith, Harvard University
Thomas Miles, University of Chicago
Lee Anne Fennell, University of Chicago
Dhammika Dharmapala, University of Illinois
Class of 2016
Max M. Schanzenbach, Northwestern University
Edward M. Morrison, University of Chicago
Eric Posner, University of Chicago
Aaron Edlin, University of California, Berkeley

Editors of the American Law and Economics Review
Max M. Schanzenbach
Abraham L. Wickelgren

Executive Secretary
Karen G. CroccoProgram Organizers for the 2013 Annual Meeting
Thomas Miles (Chair)
Gillian Hadfield
Henry E. Smith
Holger Spamann

Area Organizers

Daniel Abebe
Michael Abramowitz
Ben Alarie
Oren Bar-Gill
Robert Bartlett, Berkeley
Christina Boyd
Thomas Brennan
Margaret Brinig
Martijn Cremers
Quinn Curtis
Robert Daines
Bruno Deffains
Ezra Friedman
Nuno Garoupa
Michael Gilbert
Yehonatan Givati
John Golden
Eric Helland
Scott Hemphill

Joni Hersch
Bert Huang
Edward Iacobucci
Robert Jackson
Dan Klerman
Lewis Kornhauser
Yair Listokin
Florencia Marotta-Wurgler
Jonathan Nash
Barak Richman
David Smith
Matthew Spitzer
Sonja Starr
Lior Strahilevitz
Guhan Subramanian
Alan Sykes
George Triantis
Heidi Williams
Albert Yoon

Thursday, May 8(All sessions to be held at the Gleacher Center)(Author's name in bold indicates person presenting paper)

8:00 – 9:00:

Registration and Continental Breakfast (First Floor – Room 100)

9:00 – 10:30:

Session I:

Panel IA:

Administrative Law (Room 306)

Panel Chair: Patrick McLaughlin
Amy Semet, “Political Decisionmaking at the National Labor Relations Board: An
Empirical Examination of the Board’s Unfair Labor Practice Decisions through the
Clinton and Bush Years”
Kathryn Judge, “The Federal Reserve: A Study in Soft Constraints on Regulatory
Authority”
Bentley Coffey, Patrick McLaughlin, and Pietro Peretto, “A Structural Estimation of
the Aggregate Cost of Regulations in an Endogenous Growth Context”

Panel IB:

Antitrust (Theory) (Room 204)

Panel Chair: Aaron Edlin
Abraham L. Wickelgren, “When Should Tacit Collusion be Regulated? An
Economic Model”
Ming Gao, “Platform Pricing in Mixed Two-Sided Markets”
Aaron Edlin and Rebecca Haw, “Cartels by Another Name: Should Licensed
Occupations Face Antitrust Scrutiny”

Panel IC:

Cognition and Decisionmaking (Room 203)

Panel Chair: Barak Orbach
Sue H. Mialon, “Prejudice and Competitive Signaling”
Arden Rowell and Jessica Bregant, “Numeracy and Legal Decision Making”
Barak Orbach, “Red Flags”

Thursday (cont.)

Panel ID:

Consumer Debt (Room 303)

Panel Chair: Edward R. Morrison
Kathryn Fritzdixon, “Bankruptcy and Auto Title Lending”
Benjamin J. Keys and Jialan Wang, “Perverse Nudges: Minimum Payments and Debt
Paydown in Consumer Credit Cards”
Arpit Gupta, Edward R. Morrison, Catherine R. Fedorenko, and Scott Ramsey,“Endogenous Health Shocks: Evidence from Cancer and Consumer Bankruptcy”

Panel IE:

Corporate Governance I (Room 206)

Panel Chair: Emiliano Marambio Catan
Steven M. Davidoff, Matthew D. Cain, and Stephen B. McKeon, “Do Takeover Laws
Matter? Evidence from 45 Years of Hostile Takeovers”
K.J. Martijn Cremers, Lubomir P. Litov, and Simone M. Sepe, “Staggered Boards
and Firm Value, Revisited”
Emiliano Marambio Catan, “The Irrelevance of Active Poison Pills”

Panel IF:

Courts (Empirical) (Room 208)

Panel Chair: Jonathan R. Nash
Benjamin Alarie and Andrew Green, “Docket Control at the Supreme Court of
Canada: What's Behind the Screen?”
Sofia Amaral-Garcia and Nuno Garoupa, “Judicial Politics at the Privy Council:
Empirical Evidence”
Jonathan R. Nash, “Interparty Judicial Appointments: A Study of New York’s
Bipartisan Senatorial Nomination System, 1977-1998”

Thursday (cont.)
Panel IG:

Behavior and Regulation (Room 422)

Panel Chair: Henry E. Smith
Darcy Steeg Morris, Daniel Schwarcz, and Joshua C. Teitelbaum, “Do Credit-Based
Insurance Scores Proxy for Income in Predicting Auto Claim Risk?”
Florian Baumann and Tim Friehe, “Competitive Pressure and Corporate Crime”
Constantine Boussalis, Yuval Feldman, and Henry E. Smith, “An Experimental
Analysis of the Effect of Specificity on Compliance and Performance”

Panel IH:

Taxation (Room 304)

Panel Chair: Alex Raskolnikov
Chris William Sanchirico, “Self-Constructed Assets and Efficient Tax Timing”
Jacob Goldin, “Optimal Tax Salience”
Alex Raskolnikov, “The Uneasy Case for Graduated Tax Penalties”

10:30 – 11:00:

Coffee Break (outside the session rooms on the 2nd, 3rd, & 4th floors)

11:00 – 12:30:

Session II:

Panel IIA:

Contracts I (Room 204)

Panel Chair: Zev J. Eigen
Edward M. Iacobucci, “Market Conditions, Reputation and Contract Design”
Juliet P. Kostritsky, “What Lawyers Say Determines Choice of Law in Merger
Agreements”
Zev J. Eigen, “An Experimental Test of the Effectiveness of Terms & Conditions”

Panel IIB:
Panel Chair:

Corporate Governance and Shareholder Voting (Room 206)
Fabrizio Ferri

Eric A. Posner and E. Glen Weyl, “Quadratic Voting as Efficient Corporate
Governance”
Yair Listokin and Eric Van Nostrand, “The Numbers Don’t Add Up: Discrepancies in
Corporate Election Results”
Fabrizio Ferri and David Oesch, “Management Influence on Investors: Evidence from
Shareholder Votes on the Frequency of Say on Pay”

Thursday (cont.)
Panel IIC:

Economics of Regulation I (Room 208)

Panel Chair: Victor Fleischer
David Weisbach, “Distributionally-Weighted Cost Benefit Analysis: Welfare
Economics Meets Organization Design”
Di Guo, Yan Guo, and Kun Jiang, “Government Subsidized R&D and Innovation
Outputs”
Victor Fleischer, “The Inferiority of Pigouvian Taxes”

Panel IID:

Government Structure and Behavior (Room 203)

Panel Chair: Jo Thori Lind
Hans Degryse, Thomas Lambert, and Armin Schwienbacher, “The Political Economy
of Financial Systems: Evidence from Suffrage Reforms in the Last Two Centuries”
Max Schanzenbach, “The State and Local Pay Penalty: the Effect of Institutions, Skill,
and College Major”
Daniel L. Chen and Jo Thori Lind, “The Political Economy of Beliefs: Why Fiscal andSocial Conservatives and Liberals Come Hand-in-Hand”

Panel IIE:

International Law (Room 304)

Panel Chair: Adam Chilton
Eugene Kontorovich, “The Penalties for Piracy: An Empirical Study of National
Punishment for International Crime”
Zachary D. Clopton, “Transnational Class Actions in the Shadow of Preclusion”?
Adam Chilton, “The Politics of the United States' Bilateral Investment Treaty
Program”

Panel IIF:

Patents I (Room 303)

Panel Chair: David L. Schwartz
Alan Marco, Shawn Miller, and Ted Sichelman, “Do Economic Downturns Dampen
Patent Litigation?”
Eric Helland and Seth A. Seabury, “Are Settlements in Patent Litigation Collusive?
Evidence from Paragraph IV Challenges”
Christopher A. Cotropia, Jay P. Kesan, and David L. Schwartz, “Unpacking Patent
Assertion Entities (PAEs)”Thursday (cont.)
Panel IIG:

Priest-Klein Hypothesis (Room 306)

Panel Chair: Jonah B. Gelbach
Yoon-Ho Alex Lee and Daniel Klerman, “The Priest-Klein Hypotheses: Proofs andGenerality”
Daniel Klerman and Yoon-Ho Alex Lee, “Inferences from Litigated Cases”
Jonah B. Gelbach, “Is Everything You Know About Litigation Selection and thePlaintiff’s Win Rate Wrong?”

Panel IIH:

Torts I (Room 422)

Panel Chair: Ezra Friedman
Rosa Ferrer and Helena Perrone, “Consumers' Response to Product Safety Threats:
Evidence from the Mad Cow Disease”
Tim Friehe and Éric Langlais, “On the Political Economy of Public Safety
Investments”
Ezra Friedman and Abraham Wickelgren, “Who (if anyone) Should be Liable for
Injuries from Generic Drugs”

12:30 - 1:45:

Lunch (Executive Dining Room – Sixth Floor)

1:45 – 3:15:

Session III:

Panel IIIA:

Agency Costs and Firms (Room 204)

Panel Chair: Kathryn E. Spier
Suman Banerjee, Mark Humphery-Jenner, and Vikram Nanda, “Harnessing CEO
Overconfidence”
Antonio Falato, Dalida Kadyrzhanova, and Ugur Lel, “Distracted Directors: Does
Board Busyness Hurt Shareholder Value?”
Claudia M. Landeo and Kathryn E. Spier, “Incentives for Teams: Experimental
Evidence”

Thursday (cont.)

Panel IIIB:

Criminal Law I (Room 304)

Panel Chair: Crystal S. Yang
Cristiano de Oliveira and Giácomo Balbinotto Neto, “A Real Options Approach to
Criminal Careers”
Claire S.H. Lim, Bernardo Silveira, and James M. Snyder, Jr., “Preference
Heterogeneity of the Judiciary and the Composition of Political Jurisdictions”
Crystal S. Yang, “Justice Vacated? The Impact of Judicial Vacancies on Prosecutorial
Behavior”

Panel IIIC:

Economics of Regulation II (Room 206)

Panel Chair: Michael Gilbert
Ian Ayres and Joshua Mitts, “Anti-Herding Regulation”
Bert I. Huang, “Concurrent Damages”
Michael Gilbert, “Insincere Rules”

Panel IIID:

Health Care Regulation (Room 203)

Panel Chair: Christopher T. Robertson
Quoc-Anh Du, Trang Van Nguyen, and Anh Tran, “Do People Pay Higher Bribes for
Urgent Services? Evidence from Informal Payments to Doctors in Vietnam”
Peter Molk, “The Ownership of Health Insurers”
Christopher T. Robertson, “Scaling Cost-Sharing To Wages: How Employers can
Reduce Health Spending and Provide Greater Economic Security”

Panel IIIE:

Litigation I (Room 306)

Panel Chair: Daniel L. ChenDavid Hyman, Mohammad Rahmati, Bernard Black, and Charles Silver, “Do
Plaintiffs’ Lawyers Add Value? Lessons from Illinois”
Neel U. Sukhatme, “Litigation Costs and Settlement Rates in Diversity Cases: A
Theoretical and Empirical Study of Forum Shopping”
Daniel L. Chen, “Can Markets Stimulate Rights? On the Alienability of Legal Claims”

Thursday (cont.)
Panel IIIF:

Political Economy I (Room 208)

Panel Chair: Melissa F. Wasserman
Daria Roithmayr, Alexander Isakov, and David Rand, “Should Law Keep Pace withSociety? An Evolutionary Game Theory Approach”
Gillian K. Hadfield and Barry R. Weingast, “The Microfoundations of the Rule of
Law”
Melissa F. Wasserman, “Deference Asymmetries: Distortions in the Evolution ofLaw”

Panel IIIG:

Property Law I (Room 303)

Panel Chair: Abraham Bell
Shitong Qiao, “Small Property, Adverse Possession and Legal Entitlements: An
Optional Law Solution to a Chinese Conundrum”
Jordan M. Barry, John William Hatfield, and Scott Duke Kominers, “Coasean KeepAway: Voluntary Transaction Costs”
Abraham Bell and Gideon Parchomovsky, “Registries”

Panel IIIH:

Public Finance (Room 422)

Panel Chair: Ferran Elias
Terrance O'Reilly, “A Public Pensions Bailout: Economics & Law”
Zachary Liscow, “Are Court Orders Responsible for the “Return to the Central City”?:
The Consequence of School Finance Litigation”
Ferran Elias, “Do Non-Discriminatory Electoral Rules Increase Local Public Goods?
Evidence from US Municipalities”

3:15 – 3:45:

Coffee Break (outside the session rooms on the 2nd, 3rd, & 4th floors)Thursday (cont.)
3:45 – 5:15:

Session IV:

Panel IVA:

Comparative Corporate Governance (Room 204)

Panel Chair: Matthew Dimick
Joel Malen, Paul M. Vaaler, and Ivy Zhang, “Country- and Firm-Level Determinantsof Legal Internationalization By Emerging-Market Firms”
Bernard Black, Antonio Gledson de Carvalho, Vikramaditya Khanna, Woochan Kim,
and Burcin Yurtoglu, “Methods for Multicountry Studies of Corporate Governance:
Evidence from the BRIKT Countries”
Matthew Dimick and Neel Rao, “Wage-Setting Institutions and Corporate
Governance”

Panel IVB:

Contracts II (Room 203)

Panel Chair: Stephan Tontrup
Joshua Mitts, “How Effective is Mandatory Disclosure?”
Florian Ederer and Alexander Stremitzer, “Promises and Expectations”
Stephan Tontrup, “Pacta Sunt Servanda”

Panel IVC:

Copyright (Room 206)

Panel Chair: Nathaniel Pattison
Guy A. Rub, “Rebalancing Copyright Exhaustion”
Shyamkrishna Balganesh, Irina D. Manta, and Tess Wilkinson-Ryan, “Judging
Similarity”
Dotan Oliar, Nathaniel Pattison, and K. Ross Powell, “Who's Copyrighting What: An
Empirical Analysis of the Copyright Office Catalog”

Panel IVD:

Environmental Law (Room 208)

Panel Chair: Jacob P. Byl
Michael A. Livermore and Richard L. Revesz, “Rethinking Health-Based
Environmental Standards”
Shi-Ling Hsu, “Capital Rigidities, Latent Externalities”
Jacob P. Byl, “Perverse Incentives of the Endangered Species Act: Evidence from
Timber Harvests near Woodpeckers

Thursday (cont.)
Panel IVE:

Judicial Decisionmaking I (Room 304)

Panel Chair: Anthony Niblett
Adam Badawi and Scott Baker, “Appellate Law-Making in a Judicial Hierachy”
Joshua B. Fischman, “Scaling the Law/Politics Divide: Using Interest Group Positions
to Assess Claims about Political Judging”
Anthony Niblett and Albert H. Yoon, “Judicial Disharmony: A Study of Dissent”

Panel IVF:

Law Enforcement (Room 303)

Panel Chair: Yehonatan Givati
Berno Buechel and Gerd Muehlheusser, “Black Sheep or Scapegoats? Implementable
Monitoring Policies Under Unobservable Levels of Misbehavior”
Éric Langlais and Marie Obidzinski, “Elected Versus Appointed Law Enforcers”
Itai Ater, Yehonatan Givati, and Oren Rigbi, “Organizational Structure, Police
Activity and Crime”

Panel IVG:

Securities (Room 422)

Panel Chair: Robert Bartlett
James J. Park, “Bondholders and Securities Class Actions”
Adam B. Badawi and Daniel Chen, “The Shareholder Wealth Effects of Delaware
Litigation”
Dhammika Dharmapala and Vikramaditya Khanna, “The Costs and Benefits of
Mandatory Securities Regulation: Evidence from Market Reactions to the JOBS Act of2012”

Panel IVH:

Torts II (Room 306)

Panel Chair: J.J. Prescott
Robert Cooter and Ariel Porat, “Disgorgement for Accidents”
Yun-chien Chang, Theodore Eisenberg, Tsung Hsien Li, and Martin T. Wells, “Painand Suffering Damages in Personal Injury Cases: An Empirical Study”
Ariel Porat and Eric Posner, “Offsetting Benefits”

Thursday (cont.)

5:30 – 6:30:

Cocktails (Executive Dining Room - Sixth Floor)

6:30:

ALEA Annual Dinner (Executive Dining Room - Sixth Floor)
Presiding:

Douglas G. Baird, President, ALEA

Welcome:Michael H. Schill, Dean, The University of Chicago
Law School

Speaker:

Robert E. Scott, Vice President, ALEA

Friday, May 9
8:00 – 8:30:

Continental Breakfast (First floor - Room 100)

8:30 – 10:00:

Session V:

Panel VA:

Antitrust (Empirical) (Room 204)

Panel Chair: Randal C. Picker
Matthew Weinberg, Orley Ashenfelter, and Daniel Hosken, “Efficiencies Brewed:
Pricing and Consolidation in U.S. Brewing”
Andrea Günster, Gerard Hertig, and Mathijs A. van Dijk, “Cartels and OwnershipConcentration”
Randal C. Picker, “How about Understanding Google: A Work in Progress”

Panel VB:

Judicial Decisionmaking II (Room 306)

Panel Chair: Holger Spamann
Amy Farmer and Paul Pecorino, “Liability Standards with an Uncertain Outcome at
Trial”
Jeffrey J. Rachlinski, Andrew J. Wistrich, Chris Guthrie, Kristoffel Grechenig, andChristian Thӧni, “Does Custodial Parent or Judge Gender Influence Outcomes in Child
Relocation Disputes?”
Daniel Chen and Holger Spamann, “This Morning's Breakfast, Last Night's Game:
Detecting Extraneous Influences on Judging”

Panel VC:

Consumer Protection (Room 206)

Panel Chair: Oren Bar-Gill
Paola Bertoli and Veronica Grembi, “Courts, Scheduled Damages, and Medical
Malpractice Insurance”
Elissa Philip, “Learning about Drug Ineffectiveness: Physicians’ Prescription
Decisions for Off-Label Drugs”
Oren Bar-Gill, “Price Caps in Multi-Price Markets”

Friday (cont.)
Panel VD:

Contracts III (Room 203)

Panel Chair: Yotam Kaplan
Ariel Porat and Lior Jacob Strahilevitz, “Personalizing Default Rules and Disclosureswith Big Data”
Henrik Lando, “Pacta Sunt Servanda versus Rebus Sic Stantibus: On Impracticability
and the Trade-Off between Efficient Risk Allocation and Litigation Cost”
Yotam Kaplan, “Rethinking the Paradox of Compensations”

Panel VE:

Corporate Governance II (Room 208)

Panel Chair: Kate Litvak
Sarfraz Khan and John K. Wald, “Director Liability Protection, Earnings Management,
and Audit Pricing”
Tat-kei Lai and Travis Ng, “Does Dividend Tax Impede Competition for Corporate
Charters?”
Kate Litvak, “The Effect of Jurisdictional Competition for Corporate Charters on
Financial and Accounting Measures of Firm Performance”

Panel VF:

Courts (Theory) (Room 303)

Panel Chair: Giri Parameswaran
Ahmed Jaber, “Hindsight Biased Courts and the Efficiency of the Legal System”
Juan José Ganuza, Fernando Gomez, and Jose Penalva, “Minimizing Errors,
Maximizing Incentives: Optimal Court Decisions and the Quality of Evidence”
Giri Parameswaran, “Learning, Opinion Writing and the Efficiency of the Common
Law”

Panel VG:

Economics of Institutions (Room 304)

Panel Chair: James C. Spindler
Yair Listokin, “Bounded and Unbounded Institutions”
Laurence Tai, “Regulatory Capture and Quality”
M. Todd Henderson and James C. Spindler, “Why Bank Regulation Failed . . . andWill Probably Continue to Fail”

Friday (cont.)
10:00 – 10:30:

Coffee Break (outside the session rooms on the 2nd& 3rd floors)

10:30 – 12:00:

Session VI:

Panel VIA:

Corporate Law (Room 204)

Panel Chair: Scott Hirst
Charles R. Korsmo and Minor Myers, “Appraisal Arbitrage and the Future of PublicCompany M&A”
Claudia M. Landeo and Kathryn E. Spier, “Shotguns and Deadlocks”
Scott Hirst, “Frozen Charters”

Panel VIB:

Creditor’s Rights (Room 306)

Panel Chair: William Mann
Kenneth Ayotte, “Leases and Executory Contracts in Chapter 11”
Anthony J. Casey, “The New Corporate Web”
William Mann, “Creditor Rights and Innovation: Evidence from Patent Collateral”

Panel VIC:

Economics of Discrimination (Room 203)

Panel Chair: Sonja Starr
Ronen Avraham, Kyle D. Logue, and Daniel Schwarcz, “Explaining Variation in
Insurance Anti-Discrimination Laws”
Jennifer Bennett Shinall, “What Happens When the Definition of Disability Changes?
The Case of Obesity”
Sonja Starr, “Do Ban-the-Box Laws Reduce Employment Barriers for Black Men?”

Panel VID:

Litigation II (Room 206)

Panel Chair: Bruce H. Kobayashi
Louis Kaplow, “Optimal Design of Private Litigation”
Paul Pecorino and Mark Van Boening, “Costly Voluntary Disclosure in a Signaling
Game”
Bruce H. Kobayashi, “An Economic Analysis of Relitigation Rules in Intellectual
Property Litigation

Friday (cont.)

Panel VIE:

Patents II (Room 303)

Panel Chair: Anup Malani
Tun-Jen Chiang, “Forcing Patent Claims”
Alan Miller and Michal S. Gal, “A Legal and Economic Analysis of Licensees’ Legal
Ability to Challenge a Patent”
Anup Malani and Jonathan S. Masur, “Two-Part Pricing and the Cost of Patents”

Panel VIF:

Property Law II (Room 208)

Panel Chair: James R. Hines, Jr.
Lee Anne Fennell, “Forcings”
Gary D. Libecap and Dean Lueck, “Land Demarcation and the Great Network ofAncient Rome”
James R. Hines, Jr., “Rational Choice and the Rule against Perpetuities”

Panel VIG:

Torts III (Room 304)

Panel Chair: Ronen Avraham
Emanuela Carbonara, Alice Guerra, and Francesco Parisi, “Sharing Residual Liability:‘Cheapest Cost Avoider’ Revisited”
Shmuel Leshem and Avraham Tabbach, “Solving the Volunteer's Dilemma: The
Efficiency of Rewards versus Punishments”
Ronen Avraham, “The Optimal Scope of the Duty to Warn”

12:00 –12:30:

Lunch (Executive Dining Room - Sixth Floor)

12:30 - 1:30:

Plenary Session: Presentation of the Annual Ronald H. Coase Medal
to Steven Shavell
Presentation by the Honorable Richard A. Posner
Speaker and Medalist: Steven Shavell

Friday (cont.)
1:30 – 3:00:

Session VII:

Panel VIIA:

Contracts IV (Room 204)

Panel Chair: Tess Wilkinson-Ryan
Oren Bar-Gill and Omri Ben-Shahar, “Exit from Contract”
Albert Choi and George Triantis, “Multi-Stage Contracting in Complex Transactions”
Tess Wilkinson-Ryan, “Demand for Breach”

Panel VIIB:

Corporate Litigation (Room 206)

Panel Chair: Quinn Curtis
Anh Tran and Alex Yuskavage, The Impact of Legal Enforcement: An Analysis ofCorporate Tax Aggressiveness after an Audit”
Nicholas Bormann, “Sarbanes-Oxley: Disciplining Executives or Enriching
Attorneys? Evidence from Directors and Officers Liability Insurance”
Quinn Curtis and Minor Myers, “Do the Merits Matter? Evidence from Options
Backdating Derivative Litigation”

Panel VIIC:

Criminal Law II (Room 208)

Panel Chair: John J. Donohue
Dmitriy Skougarevskiy and Vadim Volkov, “Criminal justice in Russia: Towards a
Unified Sentencing Model”
Ryan Sakoda, “Efficient Sentencing? The Effect of Post-Release Supervision on LowLevel Offenders”
John J. Donohue, “Logit vs. OLS: A Matter of Life and Death”

Friday (cont.)
Panel VIID:

Financial Institutions (Room 304)

Panel Chair: Shayak Sarkar
Matthew D. Cain, Steven M. Davidoff, and Stephen B. McKeon, “Placement Agentsand Private Equity: Information Production or Influence Peddling?”
Stephen G. Dimmock and William C. Gerken, “Assessing Risk using Self-Regulatory
Organization Disclosures: FINRA's Disclosures that Fail to Disclose”
Santosh Anagol, Shawn Cole, and Shayak Sarkar, “Understanding the Advice ofCommissions-Motivated Agents: Evidence from the Indian Life Insurance Market”

Panel VIIE:

Patents III (Room 203)

Panel Chair: David S. Abrams
Neel U. Sukhatme and Judd N.L. Cramer, “Optimal Patent Term and Cross-Industry
Measures of Patent Term Sensitivity”
Michael D. Frakes and Melissa F. Wasserman, “Does the U.S. Patent & Trademark
Office Grant Too Many Patents? Evidence from a Quasi-Experiment”
David S. Abrams, Ufuk Akcigit, and Jillian Popadak, “Patent Value and Citations:
Creative Destruction or Strategic Disruption?”

Panel VIIF:

Political Economy II (Room 306)

Panel Chair: Hugo M. Mialon
Robert K. Fleck and F. Andrew Hanssen, “Courts, Legislatures, and Property Rule
Changes: Lessons from Eminent Domain During the 19th Century Railroad Boom”
Jeff Milyo, “Do State Campaign Finance Reforms Increase Trust and Confidence inState Government?”
Tilman Klumpp, Hugo M. Mialon, and Michael A. Williams, “The Business ofAmerican Democracy: Citizens United, Independent Spending, and Elections”

3:15:

Wine and Cheese Reception (Executive Dining Room - Sixth Floor)