American Law and Economics Association

Twenty-Sixth Annual Meeting
May 20-21, 2016

All sessions to be held at Harvard Law School
1585 Massachusetts Avenue
Cambridge, MA 02138

American Law and Economics Association 2015-2016
Officers
President: Kathryn E. Spier, Harvard University
Vice President: Ian Ayres, Yale University
Secretary-Treasurer: Keith N. Hylton, Boston University

Board of Directors
Class of 2016
Max M. Schanzenbach, Northwestern University
Edward R. Morrison, University of Chicago
Eric Posner, University of Chicago
Aaron Edlin, University of California, Berkeley
Class of 2017
Kenneth Ayotte, Northwestern University
Jesse M. Fried, Harvard University
Yair Listokin, Yale University
Florencia Marotta-Wurgler, New York University
Class of 2018
Ronen Avraham, University of Texas
Michal Barzuza, University of Virginia
Kevin Davis, New York University
J.J. Prescott, University of Michigan

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

Executive Secretary
Karen G. CroccoProgram Organizers for the 2016 Annual Meeting
Max Schanzenbach (Chair)
Jesse M. FriedJJ Prescott
Keith N. Hylton

Area Organizers
Rebecca Allensworth
Scott Baker
Anu Bradford
Ryan Bubb
Anthony Casey
Miguel de Figueiredo
David A. Dana
Kevin E. Davis
Dhammika Dharmapala
Jennifer Doleac
Allen Ferrell
Jill E. Fisch
Joshua Fischman
Michael Frakes
Jeffrey N. Gordon
Eric Helland
Robert J. Jackson
Reinier H. Kraakman
Prasad Krishnamurthy
Henrik Lando

Orley Lobel
Kyle D. Logue
Richard H. McAdams
Michael J. Meurer
Hugo Mialon
Thomas Miceli
Chris William Sanchirico
Joanna M. Shepherd
Jennifer Bennett Shinall
Michael Simkovic
Paige Skiba
Holger Spamann
Matthew L. Spitzer
Jed Stiglitz
Frederick Tung
Melissa Wasserman
Tess Wilkinson-Ryan
Joshua D. Wright
Crystal S. Yang
Albert Yoon

Friday, May 20(All sessions to be held at Harvard Law School in the “WCC” Building)(Author's name in bold indicates person presenting paper)

8:00 – 9:00:

Registration and Continental Breakfast

9:00 – 10:30:

Session I:

Panel IA:

Antitrust I (Room 1010)

Panel Chair: Anu Bradford
Abraham L. Wickelgren, “An Economic Analysis of Internet Privacy Regulation”
Katrina M. Wyman, “Taxi Regulation in the Age of Uber”
Anu Bradford and Robert J. Jackson, Jr., “Determinants of Antitrust Enforcement in
the European Union: An Empirical Analysis”

Panel IB:

Contract and Copyright Enforcement: Experimental Data (Room 1015)

Panel Chair: Julie Holland Mortimer
Omri Ben-Shahar and Adam Chilton, “Simplification of Privacy Disclosures: An
Experimental Test”
Discussant: Adi Leibovitch
Rebecca Stone and Alexander Stremitzer, “Promises, Reliance, and Psychological
Lock-in”
Hong Luo and Julie Holland Mortimer, “Copyright Enforcement: Evidence from Two
Field Experiments”

Panel IC:

Commercial Law/Contracts I (Observational Data) (Room 1019)

Panel Chair: Florencia Marotta-Wurgler
Meirav Furth-Matzkin, “On the Surprising Use of Unenforceable and Misleading
Clauses in Contracts: Evidence from the Residential Rental Market”
Ricard Gil, Myongjin Kim, and Giorgio Zanarone, “Relational Contracting in the
Airline Industry”
Florencia Marotta-Wurgler, Understanding Privacy Policies: Content, SelfRegulation, and Markets

Friday (cont.)

Panel ID:

Socioeconomic Influences on Criminal Outcomes (Room 2004)

Panel Chair: Abhay Aneja
Megan Stevenson, “Distortion of Justice: How the Inability to Pay Bail Affects Case
Outcomes”
Crystal S. Yang, “Local Labor Markets and Criminal Recidivism”
Prasad Krishnamurthy and Abhay Aneja, “The Impact of Foreclosure Rates on Crime:
Evidence from a Border Discontinuity Design”

Panel IE:

Consumer/Personal Bankruptcy (Room 3016)

Panel Chair: Carlos Parra
Kathleen Burke, Jesse B. Leary, and Jialan Wang, “Information Disclosure andPayday Lending in Texas”
Discussant: Carlos Rafael Parra
Mary Eschelbach Hansen and Michelle McKinnon Miller, “A New View of Womenin Bankruptcy”
Discussant: Carlos Rafael Parra
Carlos Parra, “How Does Consumer Bankruptcy Protection Impact Household
Outcomes?”
Discussant: Michelle McKinnon Miller

Panel IF:Intellectual Property I (Room 2009)

Panel Chair: John M. Golden
Katrin Cremers, Fabian Gaessler, Dietmar Harhoff, Christian Helmers, and Yassine
Lefouili, “Invalid but Infringed? An Analysis of the Bifurcated Patent Litigation
System”
Steffen Juranek, “Investing in Legal Advice: Competition at the Courthouse?”
Lauren H. Cohen, John M. Golden, Umit Gurun, and Scott Duke Kominers, “‘Troll’Check? A Proposal for Administrative Review of Patent Litigation”

Friday (cont.)
Panel IG:Law and Preferences (Room 3019)

Panel Chair: Alan D. Miller
Alexei Alexandrov, “Generalizing Lessons from Behavioral Economics Across Many
Biases”
Aaron Edlin, “Conservatism and Switcher's Curse”
Alan D. Miller, “Obscenity and the Aggregation Hypothesis”

Panel IH:

Topics in Products Liability and Insurance (Room 2012)

Panel Chair: Ronen Avraham
A. Mitchell Polinsky and Steven Shavell, “The Theory of Insurance When Suits Can
Be Brought for Losses Suffered”
Yongmin Chen and Xinyu Hua, “Competition, Product Safety, and Product Liability”
Ronen Avraham, Alma Cohen and Ity Shurtz, “The Cost of Equality: Evidence from
Antidiscrimination Policies and Traffic Fatalities”
10:30 – 11:00:

Coffee Break (Second Floor)

11:00 – 12:30:

Session II:

Panel IIA:

Corporate Governance (Securities) (Room 1010)

Panel Chair: David I. Walker
Lucian A. Bebchuk and Kobi Kastiel, “The Untenable Case For Perpetual Dual-Class
Stock”
Alma Cohen, Robert J. Jackson, Jr., and Joshua R. Mitts, “The 8-K Trading Gap”
Discussant: David I. Walker
David I. Walker, “Reconsidering Realization---Based Accounting for Equity
Compensation”
Discussant: Joshua R. Mitts

Friday (cont.)

Panel IIB:
Panel Chair:

Theory of the Firm (Room 1015)
Elisabeth de Fontenay

Amir N. Licht, “Lord Eldon Redux: Information Asymmetry, the Roots of
Accountability, and the Structure of Fiduciary Loyalty”
Andrew Verstein, “Enterprise without Entities”
Elisabeth de Fontenay, “Market Information and the Elite Law Firm”

Panel IIC:

Property Law/Environmental Law I (Room 1019)

Panel Chair: Giorgio Zanarone
Abraham Bell and Gideon Parchomovsky, “Partial Takings”
Hans-Bernd Schäfer and Ram Singh, “Economic Analysis of Takings Law:
Rexaminations”
Benito Arruñada, Giorgio Zanarone, and Nuno Garoupa, “The Economics ofSequential Exchange”

Panel IID:

Topics in Taxation and Retirement Savings (Room 2004)

Panel Chair: Ryan Bubb
Adi Libson, “Confronting the Retirement Saving Problem: Redesigning the Savers'
Credit”
Adam Hofri-Winogradow, “Trust Proliferation: an Empirical Analysis”
Ryan Bubb and Patrick L. Warren, “A Positive Theory of Retirement Plan Design”

Panel IIE:

Antitrust II (Room 2009)

Panel Chair: Willem H. Boshoff
Louis Kaplow, “On the Relevance of Market Power”
Erik Hovenkamp, “A Broader Look at Patent Royalties and Antitrust”
Willem H. Boshoff, “Presumptions in Merger Control”

Friday (cont.)

Panel IIF:

Civil and Criminal Procedure; Litigation; ADR (Empirical) (Room 3016)

Panel Chair: Wei Cui
Paul Pecorino and Mark Van Boening, “Litigation with Discovery in a Screening
Game”
Daniel Klerman, “Are State Courts Biased? Evidence from Choice of Law”
Wei Cui and Zhiyuan Wang, “The Selection of Litigation against Government
Agencies: Evidence from a Civil Law System”

Panel IIG:

Health Law, Health Insurance; Medical Malpractice I (Room 3019)

Panel Chair: Ali Moghtaderi
Paola Bertoli and Veronica Grembi, “The Life-saving Effect of Hospital Proximity”
David A. Hyman, Mohammad Rahmati, and Bernard Black, “Medical Malpractice andPhysician Discipline: The Good, The Bad and The Ugly”
Discussant: Eric Helland
Steven Farmer, Ali Moghtaderi and Bernard Black, “Damage Caps and Defensive
Medicine: Reexamination with Patient Level Data”

Panel IIH:

International Law (Room 2012)

Panel Chair: Yahli Shereshevsky
Adam C. Chilton and Eric A. Posner, “Does History or International Law Account fort
Improvements in Human Rights”
Silvia Beltrametti and James V. Marrone, “Market Responses to Changing Legal
Standards: Evidence from Antiquities Auctions”
Yahli Shereshevsky and Tom Noah, “How Does Exposure to Preparatory Work AffectTreaty Interpretation? - A Behavioral Study”

12:30 - 1:00:

Lunch (Milstein East – Second Floor)

1:00 - 2:00:

Plenary Session: Presentation of the Annual Ronald H. Coase Medal toRobert C. Ellickson
Presentation by Steven Shavell
Speaker and Medalist: Robert C. Ellickson

Friday (cont.)

2:00 – 3:30:

Session III:

Panel IIIA:

Commercial Law/Contracts II (Room 1010)

Panel Chair: Jacob Hale Russell
Oren Bar-Gill and Ariel Porat, “Disclosure Rules in Contract Law: Mandatory
Disclosure, Voluntary Disclosure and Post-Contract Disclosure”
Susan E. Perkins, Mary-Hunter McDonnell, and Edward Zajac, “Fit to be Tied:
Using Contracts Strategically to Ensure Partner Performance”
Jacob Hale Russell, “Misbehavioral Law and Economics: Separating and Pooling in
Responses to Consumer Financial Mistakes”

Panel IIIB:

Tax Compliance (Room 1015)

Panel Chair: Emily Ann Satterthwaite
Andrew T. Hayashi, “The Effects of Refund Anticipation Loans on Tax Filing andCompliance”
Discussant: Yehonatan Givati
Yehonatan Givati, “How Much Should the IRS and the SEC Pay Whistleblowers?”
Discussant: Emily Ann Satterthwaite
Emily Ann Satterthwaite, “Can Audits Encourage Tax Evasion? An Experimental
Assessment”
Discussant: Andrew T. Hayashi

Panel IIIC:

Firms, Politics, and Shareholder Voting (Room 1019)

Panel Chair: Fabrizio Ferri
Scott Hirst, “Distortions in Shareholder Voting”
Saumya Prabhat and David M. Primo, “Risky Business: Does Disclosure andShareholder Approval of Corporate Political Contributions Affect Stock Volatility andValue?”
Discussant: Pat Akey
Yonca Ertimur, Fabrizio Ferri, and David Oesch, “Understanding Uncontested
Director Elections”

Friday (cont.)

Panel IIID:

Technology and the Criminal Law (Room 2004)

Panel Chair: Jonathan Lee
Santiago Gómez, Daniel Mejía, and Santiago Tobón, “The Effects of Public
Surveillance Cameras on Crime: Evidence from Medellín-Colombia”
Discussant: Jonathan Lee
Anne Boustead, “Does Rejection of the Third Party Doctrine Change Use of Electronic
Surveillance? Evidence from the Wiretap Reports”
Discussant: Santiago Tobón
Jonathan Lee, “Purchase, Pirate, Publicize: The Effect of File Sharing on Album
Sales”
Discussant: Anne Boustead

Panel IIIE:

Creditor Control (Room 2009)

Panel Chair: Bo Li
Adam B. Badawi, “Debt Contract Terms and Creditor Control”
Discussant: Mark Roe
Mark J. Roe, “Three Ages of Bankruptcy”
Discussant: Adam Badawi
Bo Li, Lynnette Purda, and Wei Wang, “Do Bondholders Value Senior Loan Lender
Control Rights”

Panel IIIF:

Human Capital Mobility and Innovation (Room 3016)

Panel Chair: Filippo Belloc
Evan Starr, J.J. Prescott, and Norman Bishara, “Noncompetes and Employee
Mobility”
Discussant: Ted Sichelman
Jonathan M. Barnett and Ted Sichelman, “Revisiting Labor Mobility in Innovation
Markets”
Discussant: Evan Starr
Filippo Belloc, “Employee Representation Legislations and Innovation,”
Discussant: Lucia Dalla Pellegrina

Friday (cont.)

Panel IIIG:

Legal Representation (Room 3019)

Panel Chair: Yun-chien Chang
Amanda Agan, Matthew Freedman, and Emily Owens, “Incentives and Selection in
the Assigned Counsel System”
Jamein Cunningham, “The Language of the Unheard: Legal Services and the 1960s
Race Riots”
Benjamin Schwall, “High-Powered Attorneys: How Payment Methods AffectAttorney's Behaviors”

Panel IIIH:

Law and Campaign Finance (Room 2012)

Panel Chair: Christopher Robertson
Abel François, Michael Visser & Lionel Wilner, “Campaign Spending and Legislative
Election Outcomes: Exploiting the French Political Financing Reforms of the Mid1990s”
Discussant: Alois Stutzer
Ulrich Matter & Alois Stutzer, “Does Public Attention Reduce the Influence of Special
Interest Groups? Policy Positions on SOPA/PIPA Before and After the Internet
Blackout”
Discussant: Michael Visser
Christopher Robertson, D. Alex Winkelman, Kelly Bergstrand, and Darren
Modzelewski, “The Appearance and the Reality of Quid Pro Quo Corruption: An
Empirical Investigation”

3:30 – 4:00:

Coffee Break (Second Floor)

4:00 – 5:30:

Session IV:

Panel IVA:

Controlled Firms (Room 1010)

Panel Chair: Assaf Hamdani
Albert H. Choi, “Costs and Benefits of Concentrated Ownership: Private Benefits ofControl and Long-Term Commitment”
Edward Fox, “Is There A Delaware Effect For Controlled Firms?”
Lucian A. Bebchuk and Assaf Hamdani, “Making Independent Directors Work”

Friday (cont.)

Panel IVB:

Effective Counsel and The Ineffectiveness of Conviction (Room 1015)

Panel Chair: J. Mark Ramseyer
Cindy Alexander and Jennifer Arlen, “Does Conviction Matter? The Reputational
And Collateral Effects Of Corporate Crime”
Behrang Kamali-Shahdadi, “Matching with Moral Hazard: Assigning Attorneys to
Indigent Defendants”
J. Mark Ramseyer, “Nuclear Power and the Mob”

Panel IVC:

Empirical Studies in Employment Discrimination (Room 1019)

Panel Chair: Siying Liu
Amanda Agan and Sonja Starr, “Ban the Box, Criminal Records, and Statistical
Discrimination: A Field Experiment”
Joni Hersch and Jennifer Bennett Shinall, “Something to Talk About: Information
Exchange under Employment Law “Siying Liu, “The Incidence of Workplace Breastfeeding Benefits”

Panel IVD:

Taxation and Inequality I (Room 2004)

Panel Chair: Avishalom Tor
Conor Clarke and Wojciech Kopczuk, “Income Inequality And The Corporate Tax:
1913-2012”
Elliott Ash, “The Political Economy of Tax Laws in the U.S. States”
Stephen M. Garcia and Avishalom Tor, “N-Equality: More People, Less (Concern for)
Equality?”

Friday (cont.)
Panel IVE:

Courts, Evidence, Juries, Judges, Judicial Decisionmaking I (Room 3016)

Panel Chair: Tim Friehe
Stefano Colonnello and Christoph Herpfer, “Do Courts Matter for Firm Value?
Evidence from the U.S. Court System”
Discussant: Maya Steinitz
Sofia Amaral-Garcia, Lucia dalla Pellegrina, and Nuno Garoupa, “Consensus and
Ideology at the Judicial Committee of the Privy Council”
Florian Baumann and Tim Friehe, “Crime and Punishment under Evidentiary
Uncertainty: Laboratory Evidence”

Panel IVF:

Intellectual Property II (Room 2009)

Panel Chair: Ian Ayres
Sepehr Shahshahani, “The Role of Courts in Technology Policy”
Norman V. Siebrasse and Thomas F. Cotter, “The Value of the Standard”
Ian Ayres and Lisa Larrimore Ouellette, “A Market Test for Bayh-Dole Patents”

Panel IVG:

Regulation and Competition (Room 3019)

Panel Chair: Marian Moszoro
Richard T. Boylan, “Power to the People: Does Ownership Type Influence Electricity
Service?”
Discussant: Arthur Silve
Darwyyn Deyo, “Licensing and Service Quality: Evidence Using Yelp Consumer
Reviews”
Discussant: Marian Moszoro
Marian Moszoro and Gonzalo Araya, “Political Competition and Private Participationin Infrastructure”
Discussant: Paul Pecorino

Panel IVH:

Property Law; Environmental Law II (Room 2012)

Panel Chair: Michael A. Livermore
Cherie Metcalf and Jonathan Nash, “Institutions and Information: Public Perceptionof Climate Change Information provided by Government vs. the Market”
Lee Anne Fennell, “Fee Simple Obsolete”
Peter Howard, Michael A. Livermore, Trevor Turner, “Sociopolitical Feedbacks andClimate Change Damages”

Friday (cont.)

5:30 – 6:30:

Cocktails (Milstein West – Second Floor)

6:30:

ALEA Annual Dinner (Milstein East – Second Floor)
Presiding:Kathryn Spier, President, ALEA

Welcome:Martha Minow, Morgan and Helen Chu Dean andProfessor of Law, Harvard Law School

Speaker:

Ian Ayres, Vice President, ALEA

Saturday, May21
8:00 – 9:00:

Continental Breakfast

9:00 – 10:30:

Session V:

Panel VA:

Administrative Law/Legislation (Room 3016)

Panel Chair: Filip Pertold
Yoon-Ho Alex Lee, “Beyond Agency Core Mission”
Jonathan S. Masur and Eric A. Posner, “Unquantified Benefits: The Problem ofRegulation under Uncertainty”
Ján Palguta and Filip Pertold, “Manipulation of Procurement Contracts: Evidence fromthe Introduction of Discretionary Thresholds”

Panel VB:

Commercial Law/Contracts III (Doctrinal) (Room 1010)

Panel Chair: David A. Hoffman
Alan Schwartz and Robert E. Scott, “The Common Law of Contract and the Default
Rule Project”
Victor P. Goldberg, “Rethinking Jacob and Youngs v. Kent”
David A. Hoffman, “From Promise to Form: How Contracting Online Changes
Consumers”

Panel VC:

Criminal Law (Optimal Enforcement and Compliance) (Room 3019)

Panel Chair: Éric Langlais
Alex Raskolnikov, “From Deterrence To Compliance: Legal Uncertainty Reexamined”
Murat C. Mungan, “Optimal Preventive Law Enforcement and Intervention
Standards”
Éric Langlais, “Specific vs General Enforcement under Political Competition”

Saturday (cont.)
Panel VD:

Debt and Bankruptcy (System Design and Forum Choice) (Room 1015)

Panel Chair: Jared Ellias
Douglas G. Baird, “Priority Matters”
Julian Franks, Oren Sussman, and Vikrant Vig, “The Privatization of Bankruptcy:
Evidence from Financial distress in the Shipping industry”
Jared Ellias, “What Drives Bankruptcy Forum Shopping? Evidence from Market
Data”

Panel VE:

Regulation, Entrepreneurship & Opportunism (Room 1019)

Panel Chair: Jordan M. Barry
Peter Molk, “How Do LLC Owners Contract around Default Statutory
Protections?”
Wulf A. Kaal, Barbara Luppi, and Sandra Paterlini, “Did The Dodd-Frank Act Impact
Private Fund Performance? Evidence From 2010 – 2015”
Jordan M. Barry and Elizabeth Pollman, “Regulatory Entrepreneurship”

Panel VF:

Hedge Fund Activism (Room 2004)

Panel Chair: Michal Barzuza
C.N.V. Krishnan, Frank Partnoy, and Randall S. Thomas, “The Second Wave of
Hedge Fund Activism: The Importance of Reputation, Clout, and Expertise”
K.J. Martijn Cremers, Erasmo Giambona, Simone M. Sepe, and Ye Wang, “Hedge
Fund Activism and Long-Term Firm Value”
Michal Barzuza and Eric Talley, “Short-Termism and Long-Termism”

Saturday (cont.)

Panel VG:

Courts, Evidence, Juries, Judges, Judicial Decisionmaking II (Room 2009)

Panel Chair: Daria Roithmayr
Hannah Laqueur and Ryan Copus, “Machines Learning Justice: A New Approach to
the Problems of Inconsistency and Bias”
Ahmed Jaber, “Hindsight-biased Courts and the Efficiency of the Legal System”
Daria Roithmayr, “Cat And Mouse: A Dynamic Analysis Of Predatory Payday
Lending”

Panel VH:

The Relationship Between Corporate Directors and Shareholders(Room 2012)

Panel Chair: Tom Kirchmaier
Holger Spamann, “Monetary Liability for Breach of the Duty of Care?”Quinn D. Curtis and Justin J. Hopkins, “Do Career Outcomes Discourage Independent
Director Monitoring?”
Carsten Gerner-Beuerle and Tom Kirchmaier, “Say on Pay: Do Shareholders Care?”

10:30 – 11:00:

Coffee Break (second floor)

11:00 – 12:30:

Session VI:

Panel VIA:

Corporate Governance (Defensive Measures) (Room 1010)

Panel Chair: Sean J. Griffith
Martijn Cremers, Robert J. Jackson, Jr., and John Morley, “The Value of Takeover
Defenses: Evidence from Exogenous Shocks to Closed-End Mutual Funds”
Robert Daines, Shelley Xin Li, and Charles C.Y. Wang, “Can Staggered Boards
Improve Value? Evidence from the Massachusetts Natural Experiment”
Sean J. Griffith and Natalia Reisel, “Dead Hand Proxy Puts, Hedge Fund Activism,and the Cost of Capital”

Saturday (cont.)

Panel VIB:

Civil and Criminal Procedure; Litigation; ADR (Theory) (Room 1015)

Panel Chair: Lewis Kornhauser
Susana Vasserman and Muhamet Yildiz, “Pretrial Negotiations under Optimism”
Claudia M. Landeo and Maxim Nikitin, “Financially-Constrained Lawyers: A
Strategic Model of Civil Litigation”
Scott Baker and Lewis Kornhauser, “A Theory of Judicial Deference”

Panel VIC:

Health Law, Health Insurance; Medical Malpractice II (Room 1019)

Panel Chair: Vardges Levonyan
Griffin Edwards, Erik Nesson, Josh Robinson, and Fredrick Vars, “Looking Down the
Barrel of a Loaded Gun: The Effect of Mandatory Handgun Purchase Delays on
Homicide and Suicide”
Alison Morantz, “Rejecting the Grand Bargain: What Happens When Large
Companies Opt Out of Workers’ Compensation?”
Daniel L. Chen, Vardges Levonyan, S. Eric Reinhart, Glen Taksler, “Mandatory
Disclosure: Theory And Evidence From Industry-Physician Relationships”

Panel VID:

Financial Institutions (Room 2004)

Panel Chair: Andrew F. Tuch
Kathryn Judge, “Information Gaps and Shadow Banking”
Mark J. Roe and Michael Troege, “Systemic Financial Degradation Due to the
Structure of Corporate Taxation”
Discussant: Andrew Tuch
Andrew F. Tuch, “The Remaking of Wall Street”
Discussant: Kathryn Judge

Saturday (cont.)
Panel VIE:

Intellectual Property III (Room 3016)

Panel Chair: Jonathan M. Barnett
Mengxi Zhang and Keith N. Hylton, “Optimal Remedies for Patent Infringement”
Discussant: Jay P. Kesan
Christopher A. Cotropia, Jay P. Kesan, David L. Schwartz, and Kyle Rozema, “AnEmpirical Analysis of Settlement, Case Progression, and Adjudication in Patent
Disputes”
Discussant: Keith N. Hylton
Jonathan M. Barnett, “Three Quasi-Fallacies in the Conventional Understanding ofIntellectual Property”

Panel VIF:

Property Law; Environmental Law III (Room 2009)

Panel Chair: Jonathan R. Nash
Jonathan Klick and Gideon Parchomovsky, “Roam if You Want To? Valuing theRight to Exclude”
Marco Fabbri and Matteo Rizzolli, “Being Bourgeois: The Emergence of Private
Property in the Lab”
Jonathan R. Nash, J.B. Ruhl, and James Salzman, “The Production Functionof Environmental Protection”

Panel VIG:

Taxation, Finance, and Cross-Border Issues (Room 3019)

Panel Chair: Omri Marian
Thomas Brennan and David Schizer, “The Undoing of Taxes?: The Price of Tax
Mismatches”
Ji Li, “‘Stranger in a Strange Land’: Chinese Companies In American Tax System”
Omri Marian, “The State Administration of International Tax Avoidance”

Panel VIH:

Securities Markets and Asset Prices (Room 2012)

Panel Chair: Andrew C. Baker
Merritt B. Fox, Lawrence R. Glosten, and Gabriel V. Rauterberg, “Informed Trading
and its Regulation”
Robert P. Bartlett, III, Paul Rose, and Steven Davidoff Solomon, “What Happened in
1998? The Demise of the Small IPO and the Investing Preferences of Mutual Funds”
Andrew C. Baker, “Single-Firm Event Studies, Securities Fraud, and Financial Crisis:
Problems of Inference”

Saturday (cont.)
12:30 –1:45:

Lunch (Milstein East – Second Floor)

1:45 – 3:15:

Session VII:

Panel VIIA:

Corporate Governance (M&A Deals) (Room 1010)

Panel Chair: Robert Pinheiro
Audra Boone, Brian Broughman, and Antonio J. Macias, “The Cost of Supermajority
Target Shareholder Approval: Mergers versus Tender Offers”
Ronald J. Gilson and Alan Schwartz, “Allowable Defensive Tactics and Optimal
Search: A Simulation Approach”
Jonathan Black, Mattias Nilsson, Roberto Pinheiro, and Maximiliano da Silva,“Information Production, Misconduct Effort, and the Duration of Corporate Fraud”

Panel VIIB:

Securities & Law Enforcement (Room 1015)

Panel Chair: Colleen Honigsberg
Paul Calluzzo, Wei Wang, and Serena Wu, “Catch Me If You Can: Financial
Misconduct around Corporate Headquarters Relocations”
Dhammika Dharmapala, “Estimating the Compliance Costs of Securities Regulation:
A Bunching Analysis of SOX Section 404(b)”Colleen Honigsberg, “The Surprising Benefits of Mandatory Hedge Fund Disclosure”

Panel VIIC:

Racial Bias in Law Enforcement (Room 1019)

Panel Chair: Michael D. Makowsky
David Bjerk and Eric Helland, “Using a Ratio Test to Estimate Racial Differences inWrongful Conviction Rates”
Gregory DeAngelo, Kaj Gittings, Amanda Ross, and Annie Walker, “Police Bias in
the Enforcement of Drug Crimes: Evidence from Low Priority Laws”
Michael D. Makowsky, Alex Tabarrok, and Thomas Stratmann, “To Serve andCollect: The Fiscal and Racial Determinants of Law Enforcement”

Saturday (cont.)
Panel VIID:

Elections and Policy (Room 3016)

Panel Chair: Jed Stiglitz
Pat Akey and Stefan Lewellen, “Policy Uncertainty, Political Capital, and Firm RiskTaking”
Discussant: Quinn Curtis
Ján Palguta, “More Eyes See More: Political Parties and Wasteful Spending in Public
Procurement”
Jed Stiglitz, “Legislative Dysfunction and Political Accountability”

Panel VIIE:

Taxation and Inequality II (Room 3019)

Panel Chair: Eric Kades
Zachary Liscow, “Should Law Be Efficient? Law and Economics in an Age of Income
Inequality”
Victor Fleischer, “Alpha: Labor is the New Capital”
Eric Kades, “Corrective Progressivity”

Panel VIIF:

Topics in Tort Theory (Room 2004)

Panel Chair: Avraham Tabbach
Robert Cooter and Ariel Porat, “Unity in Torts and Restitution: The Model ofInternalization and Deterrence”
Gabriel Rauterberg and Sarath Sanga, “Fair Settlements in Multidefendant Torts”
Tim Friehe and Avraham Tabbach, “Solving the Generalized Volunteers' Dilemma:
A Comparison of Simple ex ante and ex post Mechanisms”

Saturday (cont.)

Panel VIIG:

Courts, Evidence, Juries, Judges, Judicial Decisionmaking III(Room 2009)

Panel Chair: Daniel Chen
Adam Feldman and Alexander Kappner, “Finding Certainty in Cert: An Empirical
Analysis of the Factors Involved in Supreme Court Certiorari Decisions From 20012015”
Angela Huyue Zhang, “The Faceless Court”
Daniel Chen, Tobias J. Moskowitz, and Kelly Shue, “Decision-Making under theGambler’s Fallacy: Evidence from Asylum Judges, Loan Officers, and BaseballUmpires”

Panel VIIH:

Theory of Efficient Criminal Justice (Room 2012)

Panel Chair: A. Mitchell Polinsky
Miriam H. Baer, “Pricing the Fourth Amendment”
John Rappaport, “How Private Insurers Regulate Public Police”
A. Mitchell Polinsky, “Prison Work Programs in a Model of Deterrence”

3:15:

Wine and Cheese Reception (Milstein West – Second Floor)