American Law and Economics Association

Twenty-Eighth Annual Meeting
May 11-12, 2018

All sessions to be held at Boston University School of Law
765 Commonwealth Avenue
Boston, MA

American Law and Economics Association 2017-2018
Officers
President:
Vice President:
Secretary-Treasurer:

Keith N. Hylton, Boston University
Jennifer H. Arlen, New York University
Saul Levmore, University of Chicago

Board of Directors
Class of 2018
Ronen Avraham, University of Texas
Michal Barzuza, University of Virginia
Kevin E. Davis, New York University
J.J. Prescott, University of Michigan
Class of 2019
Alma Cohen, Harvard University and Tel-Aviv University
Giuseppe Dari-Mattiacci, University of Amsterdam
Alison D. Morantz, Stanford University
Eric Talley, Columbia University

Class of 2020
Justin McCrary, University of California, Berkeley
William H.J. Hubbard, University of Chicago
Jonah B. Gelbach, University of Pennsylvania
Prasad Krishnamurthy, University of California, Berkeley

Editors of the American Law and Economics Review
J.J. Prescott
Albert H. Choi

Executive Secretary
Karen G. CroccoProgram Organizers for the 2018 Annual Meeting
Kathryn Zeiler (Chair)
Eric Helland
Lee Anne Fennell
Michael Frakes

Area Organizers

Matthew Adler
Jonathan Baker
Vicki Been
Dave Bjerk
Richard Boylan
Jens Dammann
Giuseppe Dari-Mattiacci
Alicia DavisJohn de Figueiredo
Brian Galle
David Gamage
George Geis
Jonah Gelbach
Tracey George
Michael Gilbert
William Hubbard
Louis Kaplow

Daniel Kelly
Daniel Klerman
Saul Levmore
Kristin Madison
Michael Makowsky
Anup Malani
Adam Pritchard
Arden Rowell
Bhaven Sampat
Seth Seabury
Paige Marta Skiba
Alex Stremitzer
Neel Sukhatme
Alan Sykes
Joshua Teitelbaum
Joel Trachtman
Melissa Wasserman

Friday, May 11(All sessions to be held at Boston University School of Law)
(Author's name in bold indicates person presenting paper)

8:00 – 9:00:

Registration and Continental Breakfast
Registration and Continental Breakfast in Redstone (2 nd Floor)

9:00 – 10:30:

Session I:

Panel IA:

Antitrust Involving Intellectual Property (Room 108)

Panel Chair: Asrat Tesfayesus
C. Scott Hemphill, “Anticompetitive Trademark Settlements”
Jonathan M. Barnett, “The Great Patent Grab”
Asrat Tesfayesus, “A Wonderland after Alice: Abstraction and Uncertainty ofPatentability”

Panel IB:

Controlling Shareholders and Entrenchment (Room 525)

Panel Chair: Lucian A. Bebchuk
Adi Libson, “Global Antitakeover Devices”
Jesse M. Fried, Ehud Kamar, and Yishay Yafeh, “The Effect of Minority Veto Rights
on Controller Tunneling”
Lucian A. Bebchuk and Kobi Kastiel, “The Perils of Small-Minority Controllers”

Panel IC:

Judicial Incentives and Education (Room 1504)

Panel Chair: Peter Siegelman
Elliott Ash, Daniel L. Chen, and Suresh Naidu, “Ideas Have Consequences: The
Impact of Law and Economics on American Justice”
Sultan Mehmood, “Judiciary’s Achilles Heel: Executive Control via Appointment
Power”
Miguel F. P. de Figueiredo, Alexandra D. Lahav, and Peter Siegelman, “The
Unanticipated Consequences of Judicial Incentives: Evidence from the Six Month List”

Friday (cont.)
Panel ID:

Criminal Justice System (Empirical) (Room 526)

Panel Chair: Stephanie Homes Didwania
Alissa Fishbane, Aurélie Ouss, and Anuj Shah, “Beyond Bail: Using Behavioral
Science to Improve Criminal Justice Outcomes”
Roseanna Sommers and Vanessa Bohns, “The Voluntariness of Voluntary Consent:
Consent Searches and the Psychology of Compliance”
Stephanie Homes Didwania, “Do Birds of a Gender Flock Together? In-Group
Favoritism among Criminal Prosecutors”

Panel IE:

Discrimination (Room 528)

Panel Chair: Kyle Rozema
J. Shahar Dillbary and Griffin Edwards, “An Empirical Analysis of Sexual Orientation
Discrimination”
Sergio Mittlaender, “The Price of Exclusion, and the Value of Inclusive Policies”
Adam Chilton, Jonathan Masur, and Kyle Rozema, “Political Discrimination in the
Law Review Selection Process”

Panel IF:The Political Economics of Constitutions and Legal Rules (Room 209)

Panel Chair: Yuval Feldman
Michael D. Gilbert, “Optimal Entrenchment of Legal Rules”
Katarzyna Metelska-Szaniawska and Anna Lewczuk, “Constitutional
Overperformance: An Empirical Study of De Facto Protection of Rights with No De
Jure Equivalents”
Netta Barak-Corren, Yuval Feldman, and Noam Gidron, “The Provocative Effect of
Law: Majority Nationalism and Minority Discrimination”

Panel IG:

Property I (Primarily Theoretical) (Room 211)

Panel Chair: Katrina M. Wyman
Ariel Porat and Stephen Sugarman, “Limited Inalienability Rules”
Yael F. Lifshitz, “Horizontal Property”
Katrina M. Wyman, “Unilateral Steps to End High Seas Fishing”

Friday (cont.)
Panel IH:

Securities Market Regulation (Room 212)

Panel Chair: Menesh S. Patel
Merritt B. Fox, Lawrence R. Glosten, and Gabriel V. Rauterberg, “Stock Market
Manipulation and Its Regulation”
Anita Anand, Stephen J. Choi, Adam C. Pritchard, and Poonam Puri, “An Empirical
Comparison of Insider Trading Enforcement in Canada and the United States”
Menesh S. Patel, “Does Insider Trading Law Change Behavior? An Empirical
Analysis”
10:30 – 10:45:

Coffee Break (Redstone, 2nd Floor)

10:45 – 12:15:

Session II:

Panel IIA:

Tobin’s Q (Room 108)

Panel Chair: Robert Bartlett
Merritt B. Fox, Ronald J. Gilson, and Darius Palia, “Corporate Governance Changes
As a Signal: Contextualizing the Performance Link”
Yu-Hsin Lin and Yun-chien Chang, “Do State-Owned Enterprises Have Worse
Corporate Governance? An Empirical Study of Corporate Practices in China”
Robert Bartlett and Frank Partnoy, “The Misuse of Tobin’s Q”

Panel IIB:

Juries, Errors, and Evidence (Room 525)

Panel Chair: Yehonatan Givati
Francis X. Flanagan, “Race, Gender, and Juries: Evidence from North Carolina”
Jonah B. Gelbach and Bruce H. Kobayashi, “Legal Sufficiency of Statistical
Evidence”
Yehonatan Givati, “Preferences for Criminal Justice Error Types: Theory andEvidence”

Friday (cont.)

Panel IIC:

Securities Market and Financial Institutions Regulation (Room 1504)

Panel Chair: James C. Spindler
Yuliya Guseva, “The SEC and International Corporations: A Path to Optimal Public
Enforcement after Morrison v. National Australia Bank”
Natasha Sarin and Lawrence H. Summers, “On Market-Based Approaches to the
Valuation of Capital”
James C. Spindler, “Optimal Deterrence When Shareholders Desire Fraud”

Panel IID:

Mergers and Acquisitions (Room 526)

Panel Chair: Yair J. Listokin
Adam B. Badawi and Elisabeth de Fontenay, “Is There a First-Drafter Advantage in
M&A?”John C. Coates, IV, Darius Palia, and Ge Wu, “Reverse Termination Fees in M&A”
Yair J. Listokin and Inho Andrew Mun, "Rethinking Corporate Law during a
Financial Crisis”

Panel IIE:

Consumer Finance and Precommitment (Room 528)

Panel Chair: Lee Anne Fennell
Robert Bartlett, Adair Morse, Richard Stanton and Nancy Wallace, “Consumer
Lending Discrimination in the FinTech Era”
Manisha Padi, “Consumer Protection Laws and the Mortgage Market: Evidence fromOhio”
Lee Anne Fennell, “Personalizing Precommitment”

Panel IIF:

Tort Law (Miscellaneous) (Room 209)

Panel Chair: Francesco Parisi
Keith N. Hylton and Yuan Crystal Tian, “Trial Selection and Estimating Damages
Equations”
Ignacio N. Cofone and Adriana Z. Robertson, “Privacy Harms”
Alice Guerra and Francesco Parisi, “Accident Aversion: An Experiment”

Friday (cont.)
Panel IIG:

Litigation Funding and Law Firms (Room 211)

Panel Chair: Ronen Perry
J.B. Heaton, “Litigation Funding: An Economic Analysis”
Adam B. Badawi, “Lawyers, Law Firms, and the Production of Legal Information”
Ronen Perry, “Crowdfunding Civil Justice”

Panel IIH:

Financial and Corporate Contracts (Room 212)

Panel Chair: Maria Gutiérrez Urtiaga
Tracy Lewis and Alan Schwartz, “The Contract to Sell Contracts”
Bernhard Ganglmair and Malcolm Wardlaw, “Complexity, Standardization, and the
Design of Loan Agreements”
Maria Gutiérrez Urtiaga and Maríbel Sáez, “The Promise of Reward Crowdfunding”

12:30 - 1:00:

Lunch

Sponsored by Analysis Group
Location: The Trustee Ballroom at Questrom Business School
Note: The Trustee Ballroom is a seven-minute walk from the Law
School. For those who plan to walk, please proceed to the front
doors of the Law School at 12:15, and staff will direct you. We havealso arranged for a shuttle for those of you who would prefer not towalk. If you plan to use the shuttle service, please proceed to thefront doors at 12:15 and follow the signs saying “ALEA SHUTTLES”
1:00 – 2:00:

Plenary Session: Presentation of the Annual Ronald H. Coase Medal toRobert D. Cooter
Presentation by Robert C. EllicksonSpeaker and Medalist: Robert D. Cooter

2:00 – 2:30

Return to Boston University Law School for afternoon sessions

Friday (cont.)
2:30 – 4:00:

Session III:

Panel IIIA:

Derivative Suits (Room 108)

Panel Chair: Quinn Curtis
C.N.V. Krishnan, Steven Davidoff Solomon, and Randall S. Thomas, “An Empirical
Study of Special Litigation Committees”
Audra Boone, Eliezer Fich, and Thomas Griffin, “Shareholder Litigation and theInformation Environment”
Quinn Curtis, “Information and Deterrence in Shareholder Derivative Litigation”

Panel IIIB:

The Past and Future of Law and Economics (Room 211)

Panel Chair: Eyal Zamir
George L. Priest, “A Brief History of the Rise of Law and Economics”
Henry E. Smith, “Complexity and the Cathedral: Making Law and Economics MoreCalabresian”
Eyal Zamir, “Reinforcing Law and Economics: Behavioral Support for the Predictionsof Standard Economic Analysis”

Panel IIIC:

Contractual Remedies (Room 212)

Panel Chair: Ronen Avraham
Christoph Engel and Lars Freund, “Behaviorally Efficient Remedies: An
Experiment”
Omri Ben-Shahar and Ariel Porat, “The Restoration Remedy in Private Law”
Zhiyong (John) Liu, Ronen Avraham, and Yue Qiao, “Unrequested Benefits, Damages
Assessment, and Information Acquisition”

Panel IIID:

Criminal Behavior (Room 526)

Panel Chair: Jesse Bruhn
Abhay P. Aneja and Carlos F. Avenancio-León, “Credit-Driven Crime Cycles:
Incarceration and Access to Credit”
Ashna Arora, “Juvenile Crime and Anticipated Punishment”
Jesse Bruhn, “Crime and Public Housing: A General Equilibrium Analysis”

Friday (cont.)

Panel IIIE:

Regulatory Competition and Corporate Governance (Room 528)

Panel Chair: Zohar Goshen
Sarath Sanga, “Network Effects in Corporate Governance”
Ofer Eldar and Lorenzo Magnolfi, “Regulatory Competition and the Market for
Corporate Law”
Zohar Goshen and Sharon Hannes, “The Death of Corporate Law”

Panel IIIF:

Litigation, Arbitration and Settlement (Room 209)

Panel Chair: Albert H. Choi
Eric Helland and Daniel Klerman, “Contingent Fees and Access to Justice”
Shay Lavie and Avraham Tabbach, “Judgment Contingent Settlements”
Albert H. Choi and Kathryn E. Spier, “Class Action Waivers and Private Antitrust
Litigation”

Panel IIIG:

International Law (Room 525)

Panel Chair: Martin Gelter
Cree Jones, “Do Legal Remedies Promote Investment? New Evidence from a Natural
Experiment in the Investment Treaty Network”
Weijia Rao, “Are Arbitrators Biased in ICSID Arbitration? A Dynamic Perspective”
Martin Gelter, “The Effects of Defensive Regulatory Competition: A Panel Analysis
of Cross-Border Incorporations in Europe”

Panel IIIH:

Environmental I (Empirical) (Room 1504)

Panel Chair: Dean Lueck
Pat Akey and Ian Appel, “The Limits of Limited Liability: Evidence from Industrial
Pollution”
Jacob P. Byl, “Experimental Evidence of Landowner Behavior in Endangered Species
Habitat Programs”
Dean Lueck and Dominic Parker, “The Origins and Size of Environmental Agencies”

4:00 – 4:15:

Coffee Break (Redstone – 2nd Floor)

Friday (cont.)
4:15 – 5:45:

Session IV:

Panel IVA:Intellectual Property I (Room 108)

Panel Chair: David T. Angenendt
Thomas F. Cotter, Erik Hovenkamp, and Norman Siebrasse, “Switching Costs, Path
Dependence, and Patent Holdup”
Ezra Friedman and Abraham L. Wickelgren, “Optimal Standards of Proof for NonObviousness and Infringement”
David T. Angenendt, “Easy to Find, But Hard to Keep: How Patentable Inventions
are Being Kept Secret”

Panel IVB:

Contract Design (Room 525)

Panel Chair: Anup Malani
Elliott Ash, W. Bentley MacLeod, and Suresh Naidu, “Optimal Contract Design in the
Wild: Rigidity and Control in Collective Bargaining”
Stephan Tontrup, Rick Brooks, Christopher Jon Sprigman, “Measuring the Effect of
Choice on Contract Performance: How Autonomy and Self-Commitment Increase
Effort”
Richard Holden and Anup Malani, “Can Blockchain Solve the Holdup Problem inContracts?”

Panel IVC:

Liability and Quality of Health Care (Room 1504)

Panel Chair: Ali Moghtaderi
Jing Liu and David A. Hyman, “Targeting Bad Doctors: Lessons from Indiana, 19752015”
Alison Morantz, Tom A. Rutter, and Leslie Ross, “Ownership Status and Quality ofCare in Residential Facilities for the Intellectually Disabled”
Steven A. Farmer, Ali Moghtaderi, Samantha Schilsky, David Magid, William Sage,
Nori Allen, Frederick A. Masoudi, Avi Dor, and Bernard Black, “Impact of Medical
Liability Reform on Coronary Artery Disease Management”

Friday (cont.)
Panel IVD:

Criminal Justice System (Theory) (Room 211)

Panel Chair: Murat C. MunganDavid Bjerk, “A Theory of Optimal Plea Bargaining”
A. Mitchell Polinsky and Paul N. Riskind, “Deterrence and the Optimal Use of Prison,
Parole, and Probation”
Murat C. Mungan, “The Effects of Racial Profiling, Taste-Based Discrimination, andEnforcer Liability on Crime”

Panel IVE:

Corporate Social Responsibility (Room 528)

Panel Chair: Ramsi A. Woodcock
Silvina Rubio and Antonio B. Vázquez, “Do Institutional Investors care about
Corporate Social Responsibility and Irresponsibility?”
Amir N. Licht and Renée B. Adams, “Shareholders and Stakeholders around theWorld: The Role of Values and Culture in Directors’ Decisions”
Ramsi A. Woodcock, “Antitrust as Corporate Governance”

Panel IVF:

Environmental and Administrative Law (Room 209)

Panel Chair: Jonathan S. Masur
Karen Bradshaw, “Democratic Risk Management”
Mark Kanazawa, “Precedent and the Content of the Law: Lessons from the Evolutionof Groundwater Law in Early 20th Century California”
Jonathan S. Masur and Eric A. Posner, “Norming in Administrative Law”

Panel IVG:

Taxation (Theoretical) (Room 526)

Panel Chair: Zachary Liscow
Thomas J. Brennan and Robert L. McDonald, “Debt and Equity Taxation: A
Combined Economic and Legal Perspective”
Jacob Goldin and Daniel Reck, “Optimal Defaults with Normative Ambiguity”
Zachary Liscow, “Inequality Snowballing”

Friday (cont.)
Panel IVH:

Bankruptcy (Room 212)

Panel Chair: Kenneth Ayotte
Mary E. Hansen and Michelle M. Miller, “What’s the Hold Up? The Impact ofBankruptcy Trustees' Compensation and Oversight on Case Duration”
Douglas G. Baird, Anthony J. Casey, and Randal C. Picker, “The Bankruptcy
Partition”
Kenneth Ayotte, “Disagreement and Capital Structure Complexity”

6:00 – 7:00:

Cocktail Reception

Sponsored by Cornerstone Research
Location: Hotel Commonwealth, 500 Commonwealth Avenue
Note: The Hotel Commonwealth is a fifteen-minute walk from the
Law School. For those who plan to walk, please proceed to the front
doors immediately following the last session, and staff will direct you.
We have also arranged for a shuttle for those of you who would
prefer not to walk. If you plan to use the shuttle service, pleaseproceed to the front doors and follow the signs saying “ALEA
SHUTTLES”

7:00:

ALEA Annual Dinner
Location: Hotel Commonwealth, 500 Commonwealth Avenue
Presiding:Keith N. Hylton, President, ALEA

Speaker:

Jennifer H. Arlen

Note that there will be a shuttle after the dinner for attendees staying
at the Hyatt Regency Cambridge. It will depart the Commonwealthat 9:00 p.m.

Saturday, May 12
8:00 – 8:30:

Continental Breakfast (First Floor Atrium)

8:30 – 10:00:

Session V:

Panel VA:

Discovery and Cost Shifting (Room 101)

Panel Chair: Jonathan Nash
Amy Farmer and Paul Pecorino, “Disclosure and Discovery with Fairness”
Ben Chen and José A. Rodrigues-Neto, “A Robust Theory of Incentives in Civil
Litigation: Non-Specified Probability-of-Success Functions and Arbitrary CostShifting Rules”
Jonathan Nash and Joanna Shepherd, “Discovery Cost Allocation, Incentives, andSignaling”

Panel VB:The Effect of State Corporate Law Statutes and Judicial Remedies on
Value (Room 102)

Panel Chair: Brian Broughman
K. J. Martijn Cremers, Scott B. Guernsey, Lubomir P. Litov, and Simone M. Sepe,“Shadow Pills and Long-Term Firm Value”
Summer Kim, “Corporate Long Arms”
Audra Boone, Brian Broughman, and Antonio J. Macias, “Merger Negotiations in the
Shadow of Judicial Appraisal”

Panel VC:

Labor Law (Room 103)

Panel Chair: Shi-Ling Hsu
Matthew S. Johnson and Michael Lipsitz, “Why are Low-Wage Workers Signing
Noncompete Agreements?”
Matthew Dimick and Brett Meyer, “The Comparative Political Economy of the
Minimum Wage”
Shi-Ling Hsu, “Cooperation and Turnover in Law Faculties”

Saturday (cont.)
Panel VD:Intellectual Property II (Room 203)

Panel Chair: Neel U. Sukhatme
Colleen Cunningham, Florian Ederer, and Song Ma, “Killer Acquisitions”
Lisa Larrimore Ouellette and Andrew Tutt, “How Do Patent Incentives Affect
University Researchers?”
Ofer Eldar and Neel U. Sukhatme, “Will Delaware Be Different? An Empirical Studyof TC Heartland”

Panel VE:

Environmental/Property II (Primarily Theoretical) (Room 204)

Panel Chair: Taisu Zhang
Mauricio Guim and Michael A. Livermore, “When Environmental Rights Go Wrong”
Jianfeng Hu Lee, Kelvin Low, and Wei Zhang, “The Value of Fiduciary Duties:
Evidence from En Bloc Sales in Singapore”
Taisu Zhang, “From Information to Preference: A Theory of Property andSociopolitical Change”

Panel VF:

Fiduciary Duties / ETF Regulation (Room 209)

Panel Chair: Henry T. C. Hu
Ian Ayres and Edward Fox, “Alpha Duties: The Search for Excess Returns andAppropriate Fiduciary Duties”
Vivek Bhattacharya, Gastón Illanes, and Manisha Padi, “Fiduciary Duty and theMarket for Financial Advice”
Henry T. C. Hu and John D. Morley, “A Regulatory Framework for Exchange-Traded
Funds”

Panel VG:

Corporate Governance and Staggered Boards (Room 211)

Panel Chair: Jill E. Fisch
Emiliano Catan and Michael Klausner, “Board Declassification and Firm Value: Have
Shareholders and Boards Really Destroyed Billions in Value?”
Gregory H. Shill, “The Independent Board as Shield”
Jill E. Fisch and Simone M. Sepe, “A Collaborative Model of the Corporation”

Saturday (cont.)
Panel VH:

Collusion: Antitrust and Procurement (Room 212)

Panel Chair: Yoan Hermstrüwer
David Gilo and Yaron Yehezkel, “Vertical Collusion”
Jordan M. Barry, John William Hatfield, Scott Duke Kominers, and Richard Lowery,“Not from Concentrate: Collusion in Syndicated Markets”
Claudia Cerrone, Yoan Hermstrüwer, and Pedro Robalo, “Debarment and Collusionin Procurement Auctions”
10:00 – 10:30:

Coffee Break (First Floor Atrium)

10:30 – 12:00:

Session VI:

Panel VIA:

Activism (Room 101)

Panel Chair: Michal Barzuza
Rachel Li and Miriam Schwartz-Ziv, “Do Companies Benefit from Directors
Connected to Their Financial Shareholders?”
John C. Coffee, Robert J. Jackson, Joshua Mitts, and Robert Bishop, “Activist
Directors and Agency Costs: What Happens When an Activist Director Goes on the
Board?”
Michal Barzuza and Eric Talley, “Long-Term Bias”

Panel VIB:

Appellate Courts (Room 102)

Panel Chair: Lucia Dalla Pellegrina
Amy Semet, “Predicting Deference in Appellate Court Decisions”"Giri Parameswaran, Charles M. Cameron, and Lewis A. Kornhauser, “Bargaining onAppellate Courts”
Lucia Dalla Pellegrina, Nuno Garoupa and Marian Gili, “Estimating Judicial Ideal
Points in a Bidimensional Court”

Saturday (cont.)
Panel VIC:

Criminal Punishment (Room 103)

Panel Chair: Miguel F. P. de Figueiredo
Megan Stevenson, “A Decomposition of Racial Disparities in Pretrial Detention”
Evan K. Rose and Yotam Shem-Tov, “New Estimates of the Incapacitation andCriminogenic Effects of Prison”
Miguel F. P. de Figueiredo, Harrison G. Dekker, and Renee LaMark Muir, “Does
Sentencing Juveniles as Adults Increase Recidivism?”

Panel VID:

Boilerplate Contracts (Room 211)

Panel Chair: John C. Coates, IV
Giuseppe Dari-Mattiacci and Florencia Marotta-Wurgler, “Learning in Standard
Form Contracts: Theory and Evidence”
Meirav Furth-Matzkin, “Bargaining in the Shadow of the Contract”
John C. Coates, IV, “Why Have M&A Contracts Grown? Evidence from Twenty
Years of Deals”

Panel VIE:

Personal Characteristics and Governance (Room 204)

Panel Chair: Yaron Nili
M. Todd Henderson and Irena Hutton, “CEO Traits and Firm Outcomes: Do Early
Childhood Experiences Matter?”
Binay K. Adhikari, Anup Agrawal, and James Malm, “Do Women Stay Out of
Trouble? Evidence from Corporate Litigation and Policies”
Yaron Nili, “Beyond the Numbers: Substantive Gender Diversity in Boardrooms”

Panel VIF:

Policing (Room 212)

Panel Chair: Dhammika Dharmapala
Kyle Rozema and Max Schanzenbach, “Good Cop, Bad Cop: An Analysis of Chicago
Civilian Allegations of Police Misconduct”
Bocar A. Ba, “Going the Extra Mile: the Cost of Complaint Filing, Accountability, and
Law Enforcement Outcomes in Chicago”
Dhammika Dharmapala, Richard H. McAdams, and John Rappaport, “The Effect ofCollective Bargaining Rights on Law Enforcement: Evidence from Florida”

Saturday (cont.)
Panel VIG:

Theoretical Law and Economics (Room 203)

Panel Chair: Kathryn E. SpierNathan Atkinson, “Designing Remedies to Compensate Plaintiffs for Unobservable
Harms”
Giuseppe Dari-Mattiacci and Alex Raskolnikov, “A Theory of Incentive-Based
Regulation”
Xinyu Hua and Kathryn E. Spier, “Product Safety, Contracts, and Liability”

Panel VIH:

Public Choice: Taxes, Debt, and Voting (Room 209)

Panel Chair: Rawley Z. Heimer
Conor Clarke and Henry Hansmann, “Between Public and Private Enterprise: The
Law and Economics of Special Purpose Governments”
Abby K. Wood, Christopher S. Elmendorf, and Douglas M. Spencer, “Mind the(Participation) Gap: Vouchers, Voting, and Visibility”
Pat Akey, Christine Dobridge, Rawley Z. Heimer, and Stefan Lewellan, “Pushing
Boundaries: Political Redistricting and Consumer Credit”

12:00 –1:30:

Lunch (McCausland Commons – 2nd Floor)

1:30 – 3:00:

Session VII:

Panel VIIA: Fraud Enforcement (Room 101)
Panel Chair: Pratik Kothari
Lydia Mechtenberg, Gerd Muehlheusser, and Andreas Roider, “Whistleblower
Protection: Theory and Experimental Evidence”
Joseph Kalmenovitz, “Pay Inequality and Public Sector Performance: Evidence fromthe SEC’s Enforcement Activity”
Anna Abdulmanova, Stephen Ferris, Narayanan Jayaraman, and Pratik Kothari, “The
Effect of Investor Attention on Fraud Discovery and Value Loss in Securities Class
Action Litigation”

Saturday (cont.)
Panel VIIB:New Directions in Litigation (Room 102)

Panel Chair: William Hubbard
Roy Shapira, “Law as Source”
Kish Parella, “Public Relations Litigation”
Ronen Avraham and William Hubbard, “Markets for Personalized Procedure”

Panel VIIC:

Shareholder Voting (Room 103)

Panel Chair: Alan D. Miller
Scott Hirst, “Universal Proxies”
Dorothy Shapiro Lund, “Nonvoting Shares and Efficient Corporate Governance”
Alan D. Miller, “Voting in Corporations”

Panel VIID:

Property II (Empirical) (Room 203)

Panel Chair: Shitong Qiao
Marco Fabbri, “How Institutions Shape Preferences: Experimental Evidence from a
Large-Scale Property Rights Reform Implemented as Randomized Control-Trial”
Oren Bar-Gill and Christoph Engel, “How to Protect Entitlements: An Experiment”
Shitong Qiao and Wenzheng Mao, “Challenging Eminent Domain in the High People’s
Courts: Procedure is the Key!”

Panel VIIE:

Taxation (Empirical) (Room 211)

Panel Chair: Jonathan ZytnickMarcella Alsan and Crystal S. Yang, “Fear and the Safety Net: Evidence from Secure
Communities”
Tejaswi Velayudhan and Eleanor Wilking, “Does the Elasticity of the Sales Tax Base
Depend on Enforcement?: Evidence from U.S. States’ Voluntary Collection
Agreements”
Robert J. Jackson and Jonathan Zytnick, “The Effect of a Tax Notch on CEO
Golden Parachute Contracts and Option Exercises”

Saturday (cont.)
Panel VIIF:

Tort Law (Theoretical) (Room 209)

Panel Chair: Tim Friehe
Surajeet Chakravarty, David Kelsey, and Joshua C. Teitelbaum, “Tort Liability andUnawareness”
Yotam Kaplan and Yehonatan Givati, “Harm Displacement”
Tim Friehe, Christoph Rössler, and Xiaoge Dong, “Allocating Liability for Third Party
Harm between Manufacturers and Consumers when Consumers are Present Biased”

Panel VIIG:
Panel Chair:

Administrative/Legislative/Statutory Interpretation (Room 204)
Sean P. Sullivan

Karam Kang and Bernardo Silveira, “Understanding Disparities in Punishment:
Regulator Preferences and Expertise”
Edward H. Stiglitz, “Official Reason-Giving”
Sean P. Sullivan, “Powers, But How Much Power? Game Theory and theNondelegation Principle”

Panel VIIH:

The Political Economics of Courts (Room 212)

Panel Chair: Stefan Bechtold
Benjamin Feigenberg and Conrad Miller, “Racial Divisions and Criminal Justice:
Evidence from Southern State Courts”
Nuno Garoupa and Leyla D. Karakas, “A Theory of Independent Courts in Illiberal
Democracies”
Stefan Bechtold, Jens Frankenreiter, and Daniel Klerman, “Forum Selling Abroad”

3:15:

Wine and Cheese Reception (Barristers Hall, 1st Floor)