American Law and Economics Association

Nineteenth Annual Meeting
May 15-16, 2009
Sponsored by the University of San Diego
School of Law[PRELIMINARY DRAFT: May 5, 2009]

American Law and Economics Association 2008-2009
Officers
President: Michelle J. White, University of California at San Diego
Vice President/President-Elect: Orley Ashenfelter, Princeton University
Secretary-Treasurer: Louis Kaplow, Harvard University

Board of Directors

Class of 2009
Jennifer Arlen, New York University
Omri Ben-Shahar, University of Michigan
Jennifer Reinganum, Vanderbilt University
Chris Sanchirico, University of Pennsylvania
Class of 2010
Douglas Baird, University of Chicago
Stephen Choi, New York University
Francesco Parisi, University of Minnesota
Robert Rasmussen, University of Southern California
Class of 2011
Richard Brooks, Yale Law School
Ariel Porat, Tel Aviv University
Jeffrey Gordon, Columbia University
Bentley MacLeod, Columbia University

Editors of the American Law and Economics Review
John J. Donohue, Yale University
Steven Shavell, Harvard University

Executive Secretary
Karen G. CroccoProgram Committee
Stephen Choi
Frank Partnoy
Eric PosnerMichelle White

Reviewers for the 2009 Annual Meeting

Cindy Alexander
Jennifer Arlen
Ronen Avraham
Michal Barzuza
Margaret Brinig
Richard Brooks
Bob Cooter
Richard Craswell
Robert Daines
John de Figueiredo
Gerrit De Geest
Henry Farber
Lee Anne Fennell
Jill Fisch
Jesse Fried
Brian Galle
Nuno Garoupa
Andrew Guzman
Eric Helland
Oliver Hart
Claire Hill
Joni Hersch

Keith Hylton
Jason Johnston
Christine Jolls
Michael Klausner
Adam Levitin
Gary Libecap
Douglas Lichtman
Anup Malani
Ronald Mann
Edward McCaffery
Tom Miles
Richard McAdams
Katharina Pistor
John Pottow
Jeffrey Rachlinski
Daniel Rubinfeld
Chris Sanchirico
Alan Schwartz
Amy Wax
Donald Wittman
Christopher Yoo
Jonathan Zinman

Friday, May 15(All sessions to be held at the Institute for Peace and Justice,5998 Alcalá Park, San Diego, California)(Author's name in bold indicates person presenting paper)

8:00 – 8:45:

Registration and Continental Breakfast

9:00 – 10:30:

Session I:

Panel IA:

Shareholder Voting (Room A)

Panel Chair:

Michael Klausner

Stephen Choi, Marcel Kahan, and Jill Fisch, “Director Elections and the Influence ofProxy Advisors”
Fabrizio Ferri, Yonca Ertimur and Stephen Stubben, “Board of Directors'
Responsiveness to Shareholders: Evidence from Shareholder Proposals”
Lucian Bebchuk and Ehud Kamar, “Bundling and Entrenchment”

Panel IB:

Takeovers and Takeover Defenses (Room B)

Panel Chair: Robert Daines
Mira Ganor, “Investing in the Competition”
Michal Barzuza, “The State of State Antitakeover Law”
Lubomir Litov and Kose John, “Managerial Entrenchment and Capital Structure: New
Evidence"

Panel IC:
Panel Chair:

Antitrust I (Room C)
Orley Ashenfelter

Joshua D. Wright and Michael Baye, “Is Antitrust Too Complicated for Generalist
Judges? The Impact of Economic Complexity and Judicial Training on Appeals”
Louis Kaplow, “On the Meaning of Horizontal Agreements in Antitrust”

Friday (cont.)
Panel ID:

Contracts: Interpretation (Room E)

Panel Chair: Ariel Porat
Kevin Davis, “Interpreting Boilerplate”
Joel Watson and Alan Schwartz, “Contextual Asymmetry, Contractual Interpretation,and the Choice of External Enforcer”
Albert H. Choi and Yeon-Koo Che, “Shrink Wraps: Who Should Bear the Cost ofCommunicating Mass-Market Contract Terms?”

Panel IE:

Litigation and the Legal Process: Empirical (Theater)

Panel Chair: Eric Helland
Gillian Hadfield, “Higher Demand, Lower Supply”
W. Kip Viscusi and Alison F. Del Rossi, “The Changing Landscape of Blockbuster
Punitive Damages Awards”
Michael D. Frakes, “Malpractice Standards of Care and Regional Variations inPhysician Practice Styles”

Panel IF:
Panel Chair:

Political Economy: Elected v. Appointed Judges (Room D)
John M. de Figueiredo

Jordi Blanes i Vidal, and Clare Leaver, “Pandering Judges”
Claire S.H. Lim, “Turnover and Accountability of Appointed and Elected Judges”
Joanna Shepherd, “Separation Or Unification Of Power?: The Strategic Voting ofJudges Facing Reappointment”

Panel IG:
Panel Chair:

Law and Development (Room F)
Robert Cooter

Daniel Klerman, Paul Mahoney, Holger Spamann, and Mark Weinstein, “Legal Origin
and Economic Growth”
Alexander Volokh, “Property Rights and Contract Form in Medieval Europe”
Claire Priest, “The End of Entail: Information, Institutions, and Slavery in theAmerican Revolutionary Period”

Friday (cont.)

Panel IH:
Panel Chair:

Property and Environmental Law II (Room G)
Lee Fennell

Abraham Bell, “Zoning to Nuisance”
Bevin Ashenmiller, “Anti-SLAPP legislation and Citizen Enforcement: Measuring the‘Chill’ of Strategic Lawsuits”
Daniel Bruce Kelly, “Strategic Spillovers”

10:30 – 10:45:

Coffee Break

10:45 – 12:15:

Session II:

Panel IIA:

Corporate Governance (Room A)

Panel Chair:

Kate Litvak

Jesse Fried and Brian Broughman, “Why Do VCs Use Inside Rounds?
Robert P. Bartlett, III, “The Determinants of Buyout Returns: Does Transaction
Strategy Matter?”
Rudy Santore and Stephen Cotten, “Managerial Teams, Whistle-Blowing, and Fraud”

Panel IIB:
Panel Chair:

Executive Compensation: I (Theater)
Mark WeinsteinAnup Agrawal and Mark A. Chen, “Boardroom Brawls: An Empirical Analysis of
Disputes Involving Directors”
John K. Wald, Ivan E. Brick, and Oded Palmon, “Too Much Pay-Performance
Sensitivity?”
Paroma Sanyal and Laarni Bulan, “Innovation, R&D and Managerial Compensation”

Friday (cont.)
Panel IIC:

Antitrust II (Room E)

Panel Chair: Keith Hylton
John Shahar Dillbary, “Predatory Bundling and the Exclusionary Standard”
Eric Helland and Michelle S. Goeree, “Do Research Joint Ventures Serve a Collusive
Function?”

Panel IID:

Experimental Law and Economics: Contracts (Room G)

Panel Chair: Kevin Davis
Alexander Morell, Andreas Glöckner, and Emanuel Towfigh, “Sticky Rebates:
Rollback Rebates Induce Non-Rational Loyalty in Consumers: Experimental
Evidence”
Tess Wilkinson-Ryan, “Liquidated Damages and Efficient Breach: A PsychologicalExperiment”
Kathryn Spier, Richard Brooks, and Claudia Landeo, “Trigger Happy or Gun Shy?
Dissolving Common Value Partnerships with Texas Shootouts”

Panel IIE:

Health Law I (Room F)

Panel Chair: Anup Malani
Marianne Bitler and Christopher Carpenter, “Insurance Screening and
Mammography”
Adam Candeub, “Signals, Warranties, and the Healthcare Contract”
John J. Donohue III, Michael Ashley Stein, Sascha Becker, and Christopher L. Griffin,“Assessing Post-ADA Employment: Some Econometric Evidence and Policy”

Panel IIF:

Predicting Legal Outcomes (Room D)

Panel Chair: Frank Partnoy
H M. Todd Henderson, Justin Wolfers, and Eric Zitzewitz, “Predicting Crime”
Uday Rajan, Amit Senu, and Vikrant Vig, “The Failure of Models that Predict Failure:
Distance, Incentives and Defaults”
Ted Sichelman, “Quantum Game Theory and Cooperation in Intellectual Property”

Friday (cont.)

Panel IIG:
Panel Chair:

Behavioral Law and Economics I (Room B)
Edward McCaffery

Ryan Bubb and Alex Kaufman, “Consumer Biases and FIrm Ownership”
Joshua C. Teitelbaum, Levon Barseghyan, and Jeffrey Prince, “Are Risk Preferences
Stable Across Contexts? Evidence from Insurance Data”
Francesco Parisi and Barbara Luppi, “Forgiving Overconfidence in Tort Law”

Panel IIH:
Panel Chair:

Theory of the Firm I (Room C)
Richard Brooks

Henry Hansmann and Kenneth Ayotte, “Legal Entities as Transferable Bundles ofContracts”
Oliver Hart and Bengt Holmstrom, “A Theory of Firm Scope”
Giulio Ecchia, Martin Gelter, and Piero Pasotti, “Corporate Governance, Corporate
and Employment Law, and the Costs of Expropriation”

12:15 – 1:30:

Lunch- Garden of the Sea
Sponsored by Cornerstone Research

1:30 – 3:00:

Session III:

Panel IIIA:

International Corporate Governance (Room A)

Panel Chair: Stephen Choi
Bernard S. Black, Woochan Kim, Hasung Jang, and Kyung-Suh Park, “HowCorporate Governance Affects Firm Value: Evidence on Channels from Korea”
Vikramaditya Khanna and Dhammika Dharmapala, “Corporate Governance,
Enforcement and Firm Value: Evidence from India”
Marc van Essen, J. (Hans) van Oosterhout, and Pursey P.M.A.R. Heugens,“Unpacking The European Control-Based Corporate Governance System: MetaAnalyzing Ownership and Performance in 23 European Countries”

Friday (cont.)

Panel IIIB:

Corporate Governance II (Theater)

Panel Chair: Jesse Fried
Assaf Hamdani and Lucian Bebchuk, “The Elusive Quest for Global GovernanceStandards”
Yair Listokin, “The Pivotal Mechanism and Organizational Control”
Edward Iacobucci, “Does Departing from Mandatory Corporate Law Increase Value?”

Panel IIIC:

Consumer Bankruptcy (Room D)

Panel Chair: Richard Hynes
Ning Zhu and Michelle J. White, “Saving Your Home in Chapter 13 Bankruptcy”
Ronald J. Mann and Katherine Porter, “Saving up for Bankruptcy”
Matthew J. Notowidigdo and Tal Gross, “Medicaid and Consumer Bankruptcies”

Panel IIID:

Contracts and Corporations (Room F)

Panel Chair: Donald Smythe
George Triantis and Albert Choi, “Strategic Vagueness: The Case of Material Adverse
Change (MAC) Clauses”
Eric Talley, “On Uncertainty, Ambiguity and Contractual Conditions”
Alexander Stremitzer, “Opportunistic Termination”

Panel IIIE:

Litigation and the Legal Process: Theory (Room B)

Panel Chair: Nuno Garoupa
Steven Shavell, “On the Design of the Appeals Process: The Optimal Use ofDiscretionary Review versus Direct Appeal”
Barak Medina and Ofer Grosskopf, “Repairing (the Doctrine of) Irreparable Harm:
Economic Analysis of Preliminary Injunctions”
Alon Klement and Daphna Kapeliuk, “Contractualizing Procedure”

Friday (cont.)
Panel IIIF:

Political Economy: Constitutions (Room E)

Panel Chair: Donald Wittman
Carmine Guerriero, “Democracy, Judicial Attitudes and Heterogeneity: The Civil
Versus Common Law Tradition”
Robert Cooter and Neil Siegel, “The General Welfare: An Economic Analysis”
Serra Boranbay, “Sequencing, Agenda Setting, and Voting in Budget Procedures”

Panel IIIG:

International and Comparative Law (Room G)

Panel Chair: Andrew Guzman
Alan O. Sykes and Robert W. Staiger, “Over-Regulation and Trade Protectionism”
Katerina Linos, “Diffusion through Democracy: How International Norms Shape
Voter Choices”
Adam B. Cox and Eric Posner, “The Rights of Migrants”

Panel IIIH:

Intellectual Property I (Room C)

Panel Chair: Mark Schankerman
Jonathan Barnett, “Property as Process: How Innovation Markets Select Innovation
Regimes”
Suzanne Scotchmer, “Cap and Trade. And Innovate?”
Christopher S. Yoo and John P. Conley, “Nonrivalry and Price Discrimination in
Copyright Economics”

3:00 – 3:15:

Coffee Break

3:15 – 4:45:

Session IV:

Panel IVA:

Fraud, SEC Enforcement and Securities Class Actions (Theater)

Panel Chair: Jill Fisch
Michael Klausner, “Do Securities Class Actions Supplement SEC Enforcement?”
Stephen Choi, “Motions for Lead Plaintiff in Securities Class Actions”
John Wald and Brian McTier, “The Causes and Consequences of Securities Class
Action Litigation”

Friday (cont.)

Panel IVB:

Executive Compensation II (Room B)

Panel Chair: Ehud Kamar
Jay Cai and Ralph Walkling, “Shareholders’ Say on Pay: Does It Create Value?”
Sharon Hannes, “Compensating for Executive Compensation: The Case for
Gatekeeper Incentive Pay”
Minoru Nakazato, J. Mark Ramseyer, and Eric Rasmusen, “Executive Compensationin Japan: Estimating Levels and Determinants from Tax Records”

Panel IVC:

Antitrust III (Room C)

Panel Chair: Eric Talley
Warren Schwartz and Abe Wickelgren, “Optimal Antitrust Enforcement: Competitor
Suits, Entry, and Post-entry Competition”
Paul Pecorino, “Optimal Compensation for Regulatory Takings”
Ezra Friedman, “Competition and Unconscionability”

Panel IVD:

Property and Environmental Law II (Room E)

Panel Chair: Gary Libecap
Margaret F. Brinig and Nicole Stelle Garnett, “Catholic School Closings and External
Effects”
Christian Almer and Timo Goeschl, “Environmental Crime and Punishment:
Econometric Evidence from the German Penal Code”
Jonathan Masur and Daniel Abebe, “Climate Change and Internal Heterogeneity”

Panel IVE:

Experimental Law and Economics (Room D)

Panel Chair: Richard Brooks
Ben Depoorter, Sven Vanneste, and Alain Van Hiel , “Gentle Nudges v. Hard Shoves
in Copyright Law: An Empirical Study on The Conflict Between Norms andEnforcement”
Russell Korobkin, “Who Wins in Settlement Negotiations?”
Avishalom Tor and Stephen Garcia, “The N-Effect: More Competitors, Less
Competition”

Friday (cont.)

Panel IVF:

Labor and Employment Law (Room F)

Panel Chair: John J. Donohue
Samuel Estreicher, “Employer Reputation at Work”
Ramin Baghai-Wadji, Viral V. Acharya, and Krishnamurthy V. Subramanian, “Labor
Laws and Innovation”
Scott A. Moss and Peter H. Huang, “Replacing Too-Narrow ‘Rationality’ Premises in
Employment Discrimination: How Behavioral & Happiness Research Actually Can Be
Useful”

Panel IVG:

Behavioral Public Finance (Room G)

Panel Chair: Dhammika Dharmapala
Brian Galle, “Do Hidden Taxes Increase Welfare?”
Lee Fennell, “Taxing Willpower”
Jacob Nussim, “Taxes, Prices, and Consumer Protection”

Panel IVH:

Tort Law (Room A)

Panel Chair: Jennifer Arlen
Ronen Avraham, Leemore Dafny, and Max Schanzenbach, “The Impact of Tort
Reform on Employer Health Insurance Premiums”
W. Bentley MacLeod, Daniel Carvell, and Janet Currie, “Accidental Death and theRule of Joint and Several Liability”
Paul Heaton and Eric Helland, “No-Fault Insurance and Automobile Accidents”

5:00 – 6:15:

Cocktails – Garden of the Sea
Sponsored by the Federalist Society

6:30

ALEA Annual Dinner
Hahn University Center
Welcome by Dean Kevin Cole
Speaker: Orley Ashenfelter, Princeton University

Saturday, May 16
8:00 – 9:00:

Continental Breakfast

9:00 – 10:30:

Session V:

Panel VA:

Securities Markets and Regulation (Theater)

Panel Chair: M. Todd Henderson
Douglas Cumming, and Sofia Johan, “Exchange Trading Rules”
Vikrant Vig, Benjamin Keys, Tanmoy Mukherjee, and Amit Seru, “Did Securitization
Lead to Lax Screening? Evidence from Subprime Loans”
Kate Litvak, “Summary Disclosure and the Efficiency of the OTC Market: Evidence
from the Recent Pink Sheets Experiment”

Panel VB:

Business Bankruptcy (Room A)

Panel Chair: Alan Schwartz
Stephen J. Lubben, “Derivatives and Bankruptcy: The Flawed Case For Special
Treatment”
Robert K. Rasmussen and Douglas G. Baird, “Anti-Bankruptcy”
Frederick Tung, “Leverage in the Boardroom: The Unsung Influence of Private
Lenders in Corporate Governance”

Panel VC:

Issues in Risk and Information (Room F)

Panel Chair: Henry Hansmann
Omri Ben-Shahar and Oren Bar-Gill, “An Information Theory of Willful Breach”
Jonathan Masur, “Costly Screens and Valuation Asymmetries”
Jonathan Nash, “Scott v. Harris and the Regulation of Risk: Lessons for, and from,
Environmental Law”

Saturday (cont.)
Panel VD:

Criminal Law: Theory (Room E)

Panel Chair: Tom Miles
Alon Harel and Ariel Porat, “Criminal Responsibility For Unspecified Offences”
Murat Mungan, “Repeat Offenders: If They Learn, We Punish Them More Severely”
Gideon Parchomovsky and Alex Stein, “Reconceptualizing Trespass”

Panel VE:

Health Law II (Room D)

Panel Chair: Joni Hersch
Seth A. Seabury, “Does Malpractice Liability Reform Attract High Risk Doctors?
Evidence from Physician Location and Relocation”
Yasutora Watanabe, David Dranove, and Subramaniam Ramanarayanan, “Changes inthe Demand for Physician Services Subsequent to Negligence”
Brian Chen, “Stark Contrasts: The Impact of Prohibiting Physician Self-Referrals on
the Prevalence of Overtreatment in Health Care”

Panel VF:

Political Economy: Political Influence and Corruption (Room C)

Panel Chair: Claire S.H. LimÁlvaro Bustos and Tonja Jacobi, “Strategic Judicial Preference Revelation”
Brian Kelleher Richter, “How the Value of Political Connections Vary around theWorld: Firm-level Connectedness, Domestic Economic-Institutions, and the Cost of
Capital in Competitive Financial Markets”
Andrew Samuel and Emmanuel Dechenaux, “Preemptive Corruption, Hold-Up and
Repeated Interactions”

Panel VG:

Behavioral Law and Economics II (Room B)

Panel Chair: Francesco Parisi
Jeffrey J. Rachlinski, Chris Guthrie, and Andrew J Wistrich, “The ‘Hidden Judiciary’:
An Empirical Examination of Executive Branch Justice”
Richard Brooks, “Groups and Individuals”
Eric Rasmussen, “Internalities and Paternalism: Applying the Compensation Criterion
to Multiple Selves across Time”

Saturday (cont.)
Panel VH:

Public and Administrative Law (Room G)

Panel Chair: Brian Galle
Bert I. Huang, “How Stable is Appellate Review? Evidence from a Surge inFederal Appeals”
Max Schanzenbach and Joshua Fischman, “Do Standards of Review Matter? The Caseof Federal Criminal Sentencing”
Jodi Short and Michael Toffel, “Coming Clean and Cleaning Up: Is Voluntary
Disclosure a Signal of Effective Self-Policing?”

10:30 – 10:45:

Coffee Break

10:45 – 12:15:

Session VI:

Panel VIA:

Corporate Disclosure I (Theater)

Panel Chair: Cindy Alexander
Merritt B. Fox, Artyom Durneve, Randall Morck, and Bernard Yeung, “The
Effectiveness of Mandatory Disclosure: An Empirical Test of the Line of Business
Regulations”
M. Todd Henderson, Alan D. Jagolinzer, and Karl A. Muller, III, "Scienter
Disclosure”
Tracy Wang, “Real Investment and Corporate Securities Fraud”

Panel VIB:

Commercial Law (Room A)

Panel Chair: Alan Schwartz
Adam Badawi, “Arguably Illegal Contracts”
Alon Harel and Yuval Procaccia, “On the Optimal Regulation of Unread Contracts”
Donald J. Smythe, “Transportation Networks, Neighborhood Effects, and theCommercial Codification Movement”

Saturday (cont.)

Panel VIC:

Antitrust IV (Room F)

Panel Chair: Abraham Wickelgren
Orley Ashenfelter and Daniel Hosken, “The Effect of Mergers on Consumer Prices:
Evidence”
Patrick Beschorner, “Paragraph IV Certification in the Hatch-Waxman Act:
Preventing Anti-competitive Settlements in Patent Litigation”
Zhongmin Wang, “Supermarket and Gasoline: An Empirical Study of Bundled
Discount”

Panel VID:

Criminal Law: Empirical I (Room G)

Panel Chair: Antony Dnes
Carlos Berdejo and Noam Yuchtman, “Crime, Punishment and Politics: An Analysis
of Political Cycles in Criminal Sentencing”
Oren Gazal-Ayal, Avishalom Tor, and Stephen M. Garcia, “Innocence, Fairness andthe Willingness to Accept Plea Bargain Offers”
Holger Spamann, “Legal Origins of Crime and Punishment”

Panel VIE:

Theory of the Firm II (Room D)

Panel Chair: Oliver Hart
Brian Broughman, “Independent Directors and Board Control in Venture Finance”
George Geis, “An Empirical Examination of Business Outsourcing Transactions”
Meng-Chi Tang, “Contract Length: Expected Surplus, Uncertainty, and SpecificInvestments”

Panel VIF:

Labor and Employment Law: The “Sander” Controversy (Room E)

Panel Chair: Henry FarberRichard Sander, “Do Credential Gaps in College Reduce the Number of Minority
Science Graduates?”Peter Arcidiacono, Esteban M. Aucejo, and Hanming Fang, “Does Affirmative Action
Lead to Mismatch: A New Test and Evidence”
Paul Oyer and Scott Schaefer, “The Returns to Attending a Prestigious Law School”

Saturday (cont.)
Panel VIG:

Political Economy and Intellectual Property (Room C)

Panel Chair: Betsey Stevenson
C. Scott Hemphill and Jeannie Suk, “Law Culture and Economics of Fashion”
Bruce Kobayashi and Larry Ribstein, “Jurisdictional Competition for Limited Liability
Companies”
Nuno Garoupa, Fernando Gomez-Pomar, and Veronica Grembi, “Judging Under
Political Pressure: An Empirical Analysis of Constitutional Review Voting in the
Spanish Constitutional Court”

Panel VIH:

Intellectual Property: II (Room B)

Panel Chair: C.S. Yoo
James Bessen, “Imperfect Property Rights”
Alberto Galasso and Mark Schankerman, “Patent Thickets and the Market for
Innovation: Evidence from Settlement of Patent Disputes”
John F. Duffy and Michael Abramowicz ,“Ending the Patenting Monopoly”

12:15 – 1:30:

Lunch – Garden of the Sea

1:30 – 3:00

Session VII:

Panel VIIA:

Corporate Disclosure II (Theater)

Panel Chair: Alicia Davis Evans
Adam Pritchard and Karen Nelson, “Litigation Risk and Voluntary Disclosure: The
Use of Meaningful Cautionary Language”
James C. Spindler, “Litigation Risk, Informational Asymmetry, and IPO
Underpricing”
Nina Walton, “Gatekeepers and CEO Reputation”

Saturday (cont.)
Panel VIIB:

Credit Markets and Bankruptcy (Room A)

Panel Chair: Robert Rasmussen
Oren Rigbi, “The Effects of Usury Laws: Evidence from the Online Loan Market”
Richard Hynes, “Does Payday Lending Catch Vulnerable Communities in a Debt
Trap?”

Panel VIIC:

Family Law, Gender, and Discrimination (Room B)

Panel Chair: Margaret Brinig
Anup Malani, Ilya Beylin, and David Abrams, “Finding Love in the Wreckage:
Estimating Spousal Altruism with Data from Fatal Car Crashes”
J. Mark Ramseyer, John R. Lott, Jr., and Jeffrey Standen, “Peer Effects in Affirmative
Action: Evidence from Law Student Performance”
Thomas J. Miles, “Racial Disparities in the Allocation of Wiretap Applications acrossFederal Judges”

Panel VIID:

Criminal Law: Empirical II (Room G)

Panel Chair: Holger Spamann
Michael Frakes and Matthew Harding, “The Deterrent Effect of Expansions in DeathPenalty Eligibility Criteria”
Antony W. Dnes, “Wounding Offences and Legal Change”
Daniel L. Chen and John J. Horton, “Deter or Spur? The Effect of Executions ofDeserters in the British Army during World War I”

Panel VIIE:

Torts: Damages (Room D)

Panel Chair: Ronen Avraham
David Hyman, Bernard Black, and Charles Silver, “The Impact of the ‘Duty to Settle’on Settlement: Evidence from Texas”
Joni Hersch and W. Kip Viscusi, “Punitive Damages by Numbers: Exxon Shipping Co.
v. Baker”
Peter H. Huang and Rick Swedloff , “Happiness, Juries, and Tort Damages”

Saturday (cont.)
Panel VIIF:

The Political Economy of Regulation (Room E)

Panel Chair: Joanna Shepherd
Connor Raso, Strategic or Sincere? “The Agency Choice between GuidanceDocuments and Legislative Rules”
Dino Falaschetti, “Democratic Governance and Economic Performance”
David E. Bernstein, “The Political Economy of Lochner v. New York”

Panel VIIG:

Taxation and Social Welfare (Room F)

Panel Chair: Paul Oyer
Dhammika Dharmapala and Mihir Desai, “Investor Taxation in Open Economies”
Betsey Stevenson and Mary Daly, “Subsidizing the Single-Earner Household:Examining the US Household-based Taxation System and the 2003 Tax Reforms”
Ellen Moule, Thad Kousser, and Mathew D. McCubbins, “For Whom the TEL Tolls:
Can State Tax and Expenditure Limits Effectively Reduce Spending?”

Panel VIIH:

Negotiations, Bargaining, and Cooperation (Room C)

Panel Chair: Assaf Hamdani
James F. Ring, “Fair Resolutions: A Mechanism for Resolving Monetary Claims”
Ben Depoorter, “Law in the Shadow of Bargaining: The Feedback Effect of Civil
Settlements”
Owen R. Phillips, John N. Thurow, and Dale J. Menkhaus, "The Maverick Firm inExperimental Duopoly Markets"

3:00

Wine and Cheese Reception
Garden of the Sea