American Law and Economics Association

Twenty-Seventh Annual Meeting
May 12-13, 2017

All sessions to be held at Yale Law School
127 Wall Street
New Haven, CT

Support from the Oscar M. Ruebhausen Fund is gratefully acknowledged.

American Law and Economics Association 2016-2017
Officers
President:
Vice President:
Secretary-Treasurer:

Ian Ayres, Yale University
Keith N. Hylton, Boston University
Jennifer H. Arlen, New York University

Board of Directors
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
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

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

Executive Secretary
Karen G. CroccoProgram Organizers for the 2017 Annual Meeting
Yair Listokin (Chair)
Eric Talley
Alma Cohen
Jonathan Masur

Area Organizers

Adam B. Badawi
Daniel L. Chen
Adam Chilton
Stephen Choi
John Coates
Jamein P. Cunningham
Hulya K.K. Eraslan
Lee Fennell
Jonah Gelbach
Veronica Grembi
Gillian Hadfield
William Hubbard
Vikramaditya S. Khanna
Juliet P. Kostritsky
Sarah Lawsky

Amir Licht
Katerina Linos
Michael Livermore
Justin McCrary
Anthony Niblett
Jennifer Nou
Gideon Parchomovsky
John Pfaff
Nirupama Rao
Daria Roithmayr
Steven Davidoff Solomon
Richard Squire
Alexander Stremitzer
Charles C.Y. Wang
Joshua D. WrightFriday, May 12(All sessions to be held at Yale Law School)(Author's name in bold indicates person presenting paper)

8:00 – 9:00:

Registration and Continental Breakfast
Registration in Room 122
Continental Breakfast in the Law School’s Ruttenberg Dining Hall

9:00 – 10:30:

Session I:

Panel IA:

Corporate Governance I (Room 127)

Panel Chair: Scott Hirst
April Klein, Anthony Saunders, and Yu Ting Forester Wong, “Is there a “Quid Pro
Quo” between Hedge Funds and Sell-Side Equity Analysts?”
Miguel Anton, Florian Ederer, Mireia Gine, and Martin C. Schmalz, “Common
Ownership, Competition, and Top Management Incentives”
Lucian A. Bebchuk, Alma Cohen, and Scott Hirst, “Institutional Investors and theModern Corporation”

Panel IB:

Antitrust and Regulated Industries (Theory) (Room 129)

Panel Chair: Erik Hovenkamp
Louis Kaplow, “Recoupment and Predatory Pricing Analysis”
Eric A. Posner, Fiona Scott Morton, and E. Glen Weyl, “A Proposal to Limit the AntiCompetitive Power of Institutional Investors”
Erik Hovenkamp, “Competition, Inalienability, and the Economic Analysis of Patent
Law”

Panel IC:

Empirical Studies in Business Finance and Bankruptcy (Room 128)

Panel Chair: Janis Skrastins
David Schoenherr, “Managers' Personal Bankruptcy Costs and Risk-Taking”
Jared Ellias, “An Empirical Study of Bankruptcy Claims Trading”
Janis Skrastins, “Credit Enforcement and Output Storage: Evidence from Grain
Warehouses”

Friday (cont.)

Panel ID:

Judicial Behavior in Multimember Courts (Room 110)

Panel Chair: Jacob Nussim
Ben Grunwald, “Strategic Publication”
Daniel Hemel and Kyle Rozema, “Decisionmaking on Multimember Courts: The
Assignment Power in the Circuits”
Jacob Nussim, “Averaging Judges”

Panel IE:

Criminal Law, Crime, and Law Enforcement (Room 121)

Panel Chair: Vikram Maheshri
Daniel I. Tannenbaum, “Does Gun Ownership Deter Crime? Evidence from theSudden Publication of Handgun Owners' Addresses”
Libor Dušek and Christian Traxler, “Experience with Punishment and Specific
Deterrence: Evidence from Speeding Tickets”
Vikram Maheshri and Giovanni Mastrobuoni, “Criminal Displacement: Evidence
from ‘Guard’s’ Dilemmas faced by Italian Banks”

Panel IF:

Employment and Labor Law; Family Law; Discrimination I (Room 124)

Panel Chair: Benjamin Shmueli
Abhay Aneja and Carlos Avenancio-Leon, “The Labor Market Effects of Minority
Political Empowerment: Evidence from the Voting Rights Act”
Matthew T. Bodie, “Employment as Fiduciary Relationship”
Benjamin Shmueli, “Carrots, Sticks, or Carrots which become Sticks?”

Panel IG:

Patents I (Room 111)

Panel Chair: Jeffrey M. Kuhn
Jonathan M. Barnett, “Patent Tigers: The New Geography of Global Innovation”
Mitja Kovac and Rok Spruk, “Using the Variation in Transaction Costs to Explain thePropensity to Patent: Some Firm-Level Evidence”
Jeffrey M. Kuhn, “Property Rights and Frictions in the Sale of Patents”

Friday (cont.)

Panel IH:

Financial Institutions I (Room 120)

Panel Chair: Alessio M. Pacces
Kathryn Judge, “Investor-Driven Financial Innovation”
Christian Haddad and Lars Hornuf, “The Emergence of the Global Fintech Market:
Economic and Technological Determinants”
Alessio M. Pacces and Hossein Nabilou, “The Law and Economics of Shadow
Banking”
10:30 – 11:00:

Coffee Break (Ruttenberg Dining Hall)

11:00 – 12:30:

Session II:

Panel IIA:

Commercial Law and Contracts I (Room 124)

Panel Chair: Matthew Jennejohn
Sanjai Bhagat, Sandy Klasa, and Lubomir P. Litov, “The Use of Escrow Contracts in
Acquisition Agreements”
Lisa Bernstein, “Revisiting the Maghribi Traders (Again): A Social Network
Perspective”
Matthew Jennejohn, “The Architecture of Contract Innovation”

Panel IIB:

Taxation, Public Finance, and Transfer Programs I (Theory) (Room 110)

Panel Chair: Jordan M. Barry
Daniel Jaqua and Daniel Schaffa, “Pigouvian Taxation with Costly Administration andMultiple Externalities”
Thomas J. Brennan, “Income Taxation and Stochastic Interest Rates”
Jordan M. Barry and Victor Fleischer, “Tax and the Boundaries of the Firm”

Friday (cont.)
Panel IIC:

Delaware and State Competition (Room 120)

Panel Chair: Minor Myers
Jens Dammann, “Business Courts and Firm Performance”
Lars Hornuf, Abdulkadir Mohamed, and Armin Schwienbacher, “The Economic
Impact of Forming a European Company”
Minor Myers, “The Political Economy of Delaware’s Corporate Law”

Panel IID:

Criminal Procedure and Trial (Room 129)

Panel Chair: Ben Johnson
Andrew F. Daughety and Jennifer F. Reinganum, “Information Suppression byTeams and Violations of the Brady Rule”
Matthew B. Kugler and Lior Jacob Strahilevitz, “The Myth of Fourth Amendment
Circularity”
Ben Johnson, “Through a Glass Darkly: Examining the Court through the Lens ofCertiorari”

Panel IIE:

Judicial Behavior (Room 127)

Panel Chair: Kyle Rozema
Sepehr Shahshahani and Lawrence J. Liu, “Religion and Judging on the Federal
Courts of Appeals”
Eric Helland, “The Role of Ideology in Judicial Evaluations of Experts”
Adam Bonica, Adam Chilton, Jacob Goldin, Kyle Rozema, and Maya Sen, “Do Law
Clerks Influence Voting on the Supreme Court?”

Panel IIF:

Tort Law, Health Law, and Products Liability I (Empirics) (Room 111)

Panel Chair: Fredrick E. Vars
Benjamin J. McMichael, R. Lawrence Van Horn, and W. Kip Viscusi, “Sorry Is
Never Enough: The Effect of State Apology Laws on Medical Malpractice Liability
Risk”
Susannah Rose, Sunita Sah, Raed Dweik, Cory Schmidt, MaryBeth Mercer, Ariane
Mitchum, Michael Kattan, Matthew Karafa, and Christopher Robertson, “A
Randomized Field Experiment of Patient Responses to Physician Disclosures ofIndustry Conflicts of Interest”
J. Shahar Dillbary, Griffin Edwards, and Fredrick E. Vars, “Why Exempting
Negligent Doctors May Reduce Suicide: An Empirical Analysis”

Friday (cont.)
Panel IIG:

Experiments and Quasi-Random Methods (Room 128)

Panel Chair: Dane Thorley
Hillel J. Bavli and Reagan Rose, “Guiding Jurors with Prior-Award Information: A
Randomized Experiment”
John Zhuang Liu, “Reason Writing Reduces Emotional Judging: Experimental
Evidences from Judges in China”
Dane Thorley, “Randomness Pre-Considered: Recognizing and Accounting for “DeRandomizing” Events When Utilizing Random Judicial Assignment”

Panel IIH:

Mergers and Acquisitions (Room 121)

Panel Chair: Albert Choi
Jesse Fried and Holger Spamann, “The Limits of Preemptive Rights”
Fangjian Fu, Wayne Guay, and Wei Zhang, “Costly Corporate Governance: Evidence
from Shareholder Approval in Mergers and Acquisitions”
Albert Choi and Eric Talley, “Appraising the ‘Merger Price’ Appraisal Rule”

12:30 - 1:45:

Lunch (Ruttenberg Dining Hall)

1:45 – 3:15:

Session III:

Panel IIIA:

Antitrust and Regulated Industries (Empirics) (Room 128)

Panel Chair: Matthew C. Weinberg
Alexei Alexandrov, Russell Pittmanz, and Olga Ukhaneva, “Royalty Stacking in the
U.S. Freight Railroads: Cournot vs Coase”
Angela Huyue Zhang, “Strategic Public Shaming: Evidence from Chinese Antitrust”
Nathan H. Miller and Matthew C. Weinberg, “The Market Power Effects of a Merger:
Evidence from the U.S. Brewing Industry”

Friday (cont.)

Panel IIIB:

International Law (Room 111)

Panel Chair: Vera Shikhelman
Julian Nyarko and Jerome Hsiang, “Precedent Citation at the WTO: Shifting the
Empirical Focus to Panelists”
Oren Bar-Gill and Gabriella Blum, “Defenses”
Vera Shikhelman, “Diversity and Decision-Making in the United Nations Human
Rights Committee”

Panel IIIC:

Property I (Room 124)

Panel Chair: Benito Arruñada
Daniel B. Kelly, “Deterrence and Disgorgement in Trust Fiduciary Law”
James R. Hines Jr., “Efficient and Impartial Trust Investing”
Benito Arruñada, “Blockchain’s Struggle to Deliver Impersonal Exchange”

Panel IIID:

Empirical Corporate and Consumer Finance (Room 120)

Panel Chair: Colleen Honigsberg
Jill E. Fisch, Jonah B. Gelbach, and Jonathan Klick, “The Logic and Limits of Event
Studies in Securities Fraud Litigation”
C.N.V. Krishnan, Steven Davidoff Solomon, and Randall S. Thomas, “Top Defense
Litigation Counsel in Mergers and Acquisitions”
Colleen Honigsberg, Robert J. Jackson, Jr., and Richard Squire, “What Happens when
Loans Become Legally Void? Evidence from a Natural Experiment”

Panel IIIE:

Criminal Behavior (Room 129)

Panel Chair: Darwyyn Deyo
Suren Gomtsian, Annemarie Balvert, Branislav Hock, and Oguz Kirman, “Between
the Green Pitch and the Red Tape: The Private Legal Order of FIFA”
Amanda Agan and Michael D. Makowsky, “Do Minimum Wage Laws Increase
Criminal Recidivism?”
Darwyyn Deyo, “Does Increasing the Minimum Wage Increase Commercial Crime? A
Study Using Local City Arrest Data”

Friday (cont.)
Panel IIIF:

Politics/Credit (Room 110)

Panel Chair: Pat Akey
Omar A. Guerrero and Ulrich Matter, “Revealing the Anatomy of Vote Trading”
Tracy R. Lewis Alan Schwartz, “Platforms for Technology: An Alternative to Markets
for Know-How Platforms for Technology: An Alternative to Markets for Know-how”
Pat Akey, Rawley Z. Heimer, and Stefan Lewellen, “Politicizing Consumer Credit”

Panel IIIG:

Financial Institutions II (Room 121)

Panel Chair: Christina Parajon Skinner
Douglas C. Cumming and Sofia Johan, “Dodd Franking the Hedge Funds”
Paul Calluzzo, Fabio Moneta, and Selim Topaloglu, “Use of Options, Short Sales, andLeverage by Mutual Funds”
Christina Parajon Skinner, “Regulating Nonbanks”

Panel IIIH:

Shareholder Activism (Room 127)

Panel Chair: Gregory H. Shill
Oliver D. Hart and Luigi Zingales, “Should a Company Pursue Shareholder Value?”
Tara Bhandari, Peter Iliev, and Jonathan Kalodimos, “Governance Changes throughShareholder Initiatives: The Case of Proxy Access”
Gregory H. Shill, “The Golden Leash and the Fiduciary Duty of Loyalty”

3:15 – 3:45:

Coffee Break (Ruttenberg Dining Hall)

Friday (cont.)
3:45 – 5:15:

Session IV:

Panel IVA:

Contracts and Licensing Agreements (Room 110)

Panel Chair: Jonathan Masur
Sarath Sanga, “Incomplete Contracts: An Empirical Approach”
Marcel Kahan and Shmuel Leshem, “Sovereign Debt and Moral Hazard: The Role ofContractual Ambiguity and Asymmetric Information”
Erik Hovenkamp and Jonathan Masur, “How Patent Damages Skew Licensing
Markets

Panel IVB:

Patents II (Room 111)

Panel Chair: Stephen Yelderman
Juliana Pavan Dornelles, “Why Are They Hiding? Patent Secrecy and Patenting
Strategies”
David S. Abrams and Bhaven N. Sampat, “Pharmaceutical Patent Citations and Real
Value”
Stephen Yelderman, “The Value of Accuracy in the Patent System”

Panel IVC:

Mergers, Acquisitions, and Venture Capital (Room 120)

Panel Chair: Brian Broughman
Giuseppe Dari-Mattiacci and Eric Talley, “Do Disclosure-Only Settlements in Merger
Objection Lawsuits Harm Shareholders?”
John Morley, “Too Big to Be Active: Large Investment Managers, Conflicts of Interest,
and the High Costs of Corporate Control”
Brian Broughman and Jesse M. Fried, “Long Live the King? The Almost Inevitable
Loss of Startup-Founder Control by the IPO”

Friday (cont.)
Panel IVD:

Empirical Studies of Policing, Sentencing, and Crime (Room 127)

Panel Chair: Daniel L. Chen
Alma Cohen and Crystal S. Yang, “Judicial Politics and Disparities in Sentencing”
Jamein Cunningham, Rob Gillezeau, and Douglas Williams, “Don’t Shoot! The
Impact of Historical African American Protest on Police Killings of Civilians”
Daniel L. Chen, “The Deterrent Effect of the Death Penalty? Evidence from British
Commutations During World War I”

Panel IVE:

New Perspectives on Infringement and Regulation (Room 121)

Panel Chair: Gillian K. Hadfield
Abraham Bell and Gideon Parchomovsky, “Reforming Infringement”
Lee Anne Fennell, “Lumps and Lapses in Tort Law”
Gillian K. Hadfield, “Superregulation: Competitive Approved Private Regulators(CAPRs)”Panel IVF:

Behavioral Economics and Regulation I (Room 124)

Panel Chair: Yuval Feldman
Oren Bar-Gill, David Schkade, and Cass R. Sunstein, “Drawing False Inferences from
Mandated Disclosures”
Meirav Furth-Matzkin and Cass R. Sunstein, “Social Influences on Policy
Preferences: Conformity and Reactance”
Maryam Koachaki, Yuval Feldman and Francesca Gino, “The Ethical Perils of Codesof Conduct Written in a Personal, Informal Language”

Panel IVG:

Securities Litigation (Room 128)

Panel Chair: James J. Park
Barbara A. Bliss, Frank Partnoy, and Michael Furchtgott, “Information Bundling and
Securities Litigation”
James Cameron Spindler, “We Have a Consensus on Fraud on the Market—and it’s
Wrong”
James J. Park, “Halliburton II and the Costs of Securities Class Actions”

Friday (cont.)

Panel IVH:

Tort Law, Health Law, Products Liability II (Theory) (Room 129)

Panel Chair: Maytal Gilboa
Steven Shavell, “Why Strict Liability Should Apply To All Dangerous Activities—
both Common and Uncommon”
Ehud Guttel and Ariel Porat, “Liability for Personal Governmental Services”
Maytal Gilboa, “Multiple Reasonable Behaviors Cases: The Problem of Causal
Underdetermination”

5:30 – 6:30:

Cocktail Reception – Sponsored by Cornerstone Research
Location: Mezzanine of Beinecke Rare Book and Manuscript Library(Large marble building across the street from the Yale Law School)

6:30:

ALEA Annual Dinner
Location: Yale University Commons Dining Hall
168 Grove Street (diagonally across the Courtyard from the Beinecke
Library)
Presiding:

Ian Ayres, President, ALEA

Speaker:

Keith N. Hylton

9:30 (or about ½ hour after the dinner ends):
Jam session (with libations) at the home of Ian Ayres
15 Killams Point Road
Branford, CT(We will arrange to have Ubers waiting to take attendees directly from themain (front) entrance of Commons (on the corner of Grove and College
Streets). The Uber return is approximately $15.00)

Saturday, May 13
8:00 – 8:30:

Continental Breakfast (Ruttenberg Dining Hall)

8:30 – 10:00:

Session V:

Panel VA:

Consumer Finance and Bankruptcy (Room 110)

Panel Chair: Paige Marta Skiba
Alexei Alexandrov and Sergei Koulayev, “No Shopping in the U.S. Mortgage Market:
Search Cost, Non-price Characteristics, and Consumer Beliefs”
Leora Friedberg, Richard M. Hynes, and Nathaniel Pattison, “Who Benefits from
Credit Report Bans?”
Susan Payne Carter, Kuan Liu, Paige Marta Skiba, and Justin Sydnor, “The Effect ofHaving More Time to Repay a Payday Loan: Implications for Understanding Borrower
Myopia”

Panel VB:

Settlement (and ADR) (Room 111)

Panel Chair: Yoon-Ho Alex Lee
Joyce Sadka, Enrique Seira, and Christopher Woodruff, “Overconfidence andSettlement: Evidence from Mexican Labor Courts”
Saul Levmore and Frank Fagan, “Semi-Confidential Settlements in Civil, Criminal,and Sexual Assault Cases”
Yoon-Ho Alex Lee and Daniel Klerman, “Litigation and Settlement under Correlated
Two-Sided Incomplete Information”

Panel VC:

Tort Law, Health Law, Products Liability III (Theory) (Room 120)

Panel Chair: Vardges Levonyan
Michael Frakes, Jonathan Gruber And Tracey Koehlmoos, “Defensive Medicine:
Evidence from Military Immunity”
Alberto Galasso and Hong Luo, “Tort Reform and Innovation”
Vardges Levonyan, “Physician Publications and Pharmaceutical Company Payments”

Saturday (cont.)
Panel VD:

Contracts and Remedies (Room 121)

Panel Chair: Kristin Firth
Dorothee Mischkowski, Rebecca Stone, and Alexander Stremitzer, “Promises,
Expectations, and Social Cooperation”
Omri Ben-Shahar and Lior Jacob Strahilevitz, “Interpreting Contracts via Surveys andExperiments”
Tess Wilkinson-Ryan, Kristin Firth, and Gideon Parchomovsky, “The Promise andPeril of Statutory Damages”

Panel VE:

Property II (Room 124)

Panel Chair: Ronit Levine-Schnur
Yun-Chien Chang and Chang-Ching Lin, “Do Parties Negotiate After Trespass
Litigation? An Empirical Study of Coasean Bargaining”
Maggie E. C. Jones, Donna Feir, and Rob Gillezeau, “Historical Treaty-Making andLong-Term Economic Prosperity of Indigenous Peoples”
Ronit Levine-Schnur, “Winners and Losers in Takings for Pure Public Uses: An
Empirical Examination”

Panel VF:

Evidence and Proof (Room 128)

Panel Chair: Jesse Bull
Frances Xu Lee, “Credibility of Crime Allegations”
Sean P. Sullivan, “A Likelihood Story: The Theory of Legal Fact-Finding”
Jesse Bull and Joel Watson, “Statistical Evidence and the Problem of Robust
Litigation”

Panel VG:

Corporate Governance II (Room 129)

Panel Chair: Irena Hutton
Kobi Kastiel and Yaron Nili, “‘Captured Boards’: The Rise of ‘Super Directors’ andthe Case for a Board Suite”
Yaron Nili, “Out of Sight Out of Mind: The Case for Improving Director Independence
Disclosure”
Todd Henderson, Irena Hutton, Danling Jiang, and Matthew Pierson, “Lawyer CEOs”

Saturday (cont.)

Panel VH:

Taxation, Public Finance, and Transfer Programs II (Empirics)(Room 127)

Panel Chair: Zachary Liscow
Eleanor Wilking, “Hotel Tax Incidence with Heterogeneous Firm Evasion: Evidence
from Airbnb Remittance Agreements”
Lily L. Batchelder, “Accounting for Behavioral Considerations in Business Tax
Reform: The Case of Expensing”
Zachary Liscow, “Do Court Mandates Change the Distribution of Taxes andSpending?: Evidence from School Finance Litigation”

Panel VI:

Topics in Administrative Law and Litigation (Room 109)

Panel Chair: Brian D. FeinsteinRoderick M. Hills, Jr. and Shitong Qiao, “Voice and Exit as Accountability
Mechanisms: Can Foot-Voting be Made Safe for The Chinese Communist Party?”
Alice Guerra, Barbara Luppi, and Francesco Parisi, “Standards of Proof and Civil
Litigation: A Game-Theoretic Analysis”
Brian D. Feinstein, “Congress in the Administrative State”

10:00 – 10:30:

Coffee Break (Ruttenberg Dining Hall)

10:30 – 12:00:

Session VI:

Panel VIA:International Trade and Regulation (Room 110)

Panel Chair: Bryan H. Druzin
Robert W. Staiger and Alan O. Sykes, “The Economic Structure of International
Trade-in-Services Agreements”
Stavros Gadinis and Thom Wetzer, “Basel III: Softer Rules, Harder Institutions”
Bryan H. Druzin, “Why does Soft Law have any Power Anyway?”Saturday (cont.)

Panel VIB:

Challenges in Corporate Reorganization Law (Room 111)

Panel Chair: Frederick Tung
Douglas G. Baird, “Bankruptcy’s Quiet Revolution”
Kenneth Ayotte, David A. Skeel, Jr., and Anthony J. Casey, “Bankruptcy on the Side”
Colleen Honigsberg and Frederick Tung, “Do Economic Conditions Drive DIP
Lending?: Evidence from the Financial Crisis”

Panel VIC:

Civil Litigation (Room 120)

Panel Chair: Ronen Avraham
Albert H. Choi and Kathryn E. Spier, “Taking a Financial Position in Your Opponent
in Litigation”
Keith N. Hylton, “Deterrence and Aggregate Litigation”
Ronen Avraham and Anthony Sebok, “An Empirical Investigation of Third Party
Consumer Litigation Funding”

Panel VID:

Contracts and Consumer Regulation (Room 121)

Panel Chair: Florencia Marotta-Wurgler
Tess Wilkinson-Ryan, “The Perverse Consequences of Disclosing Standard Terms”
Bernardo Guimaraes and Bruno Meyerhof Salama, “Contingent Judicial Deference:
Theory and Application to Usury Laws”
Florencia Marotta-Wurgler and Daniel Svirsky, “Do FTC Privacy Enforcement
Actions Matter? Compliance Before and After US-EU Safe Harbor Agreement Action”

Panel VIE:

Corruption (Room 124)

Panel Chair: Shmuel Leshem
J. Mark Ramseyer and Eric B. Rasmusen, “Identity Politics and Organized Crime inJapan: The Impact of Special Subsidies on Burakumin Communities”
Yujin Jeong and Jordan I. Siegel, “Threat of Falling High Status and Corporate
Bribery: Evidence from the Revealed Accounting Records of Two South Korean
Presidents”
Shmuel Leshem and Abraham L. Wickelgren, “Orchestrated Cheating: Group versus
Individual Punishments”

Saturday (cont.)
Panel VIF:

Political Economy, Public Choice, and Public Law (Room 128)

Panel Chair: Stephan Tontrup
Michael Poyker, “Economic Consequences of Coercive Institutions: Evidence fromthe US Convict Labor System”
Richard T. Boylan, “The Impact of the Voting Rights Act on City Elections andFinances”
Stephan Tontrup and Wolfgang Gaissmaier, “Running Head: Comparative Advantage
of Self-Governance: The Comparative Advantage of Self Governance - Comparing
Effects of Democracy in Germany and China”

Panel VIG:

Property III (Room 127)

Panel Chair: Henry E. Smith
Dotan Oliar and James Y. Stern, “Right on Time: First Possession in Intellectual
Property Law”
Karen Bradshaw and Bryan Leonard, “Virtual Parceling”
Ted Sichelman and Henry E. Smith, “Modeling Legal Modularity”

Panel VIH:

Judicial Behavior from a Labor Market Perspective (Room 129)

Panel Chair: Jonathan R. Nash
Madhav S. Aney, Shubhankar Dam, and Giovanni Ko, “Jobs for Justice(s): Corruption
in the Supreme Court of India”
Elliott Ash and Bentley MacLeod, “Aging, Retirement and High-Skill Work
Performance: The Case of State Supreme Court Judges”
Jonathan R. Nash, “Judicial Laterals”
12:00 –1:30:

Lunch (Ruttenberg Dining Hall)

Saturday (cont.)
1:30 – 3:00:

Session VII:

Panel VIIA: Securities Offerings and Disclosure (Room 110)
Panel Chair: Matthias Schmitt
Elisabeth de Fontenay, Josefin Meyer and Mitu Gulati, “The Sovereign-Debt ListingPuzzle”
Jeremy R. McClane , “Boilerplate’ and the Impact of Disclosure in Securities
Dealmaking”
Lars Hornuf and Matthias Schmitt, “Does A Local Bias Exist In Equity
Crowdfunding?”

Panel VIIB:

Courts and Criminal Cases (Room 111)

Panel Chair: Ryan Fackler
Yotam Shem-Tov, “Make or Buy? The Provision of Indigent Defense Services in the
U.S.”David Arnold, Will Dobbie, and Crystal S. Yang, “Racial Bias in Bail Decisions”
David Abrams and Ryan Fackler, “To Plea or Not to Plea: Evidence from North
Carolina”

Panel VIIC:

Administrative Law (Room 120)

Panel Chair: Matthew D. Adler
Roy Shapira and Luigi Zingales, “Is Pollution Value Maximizing? The DuPont Case”
Amy Semet, “Appellate Court Decision Making in NLRB Cases”
Matthew D. Adler, “A Better Calculus for Regulators: The SWF Framework”

Panel VIID:

Tort Law, Health Law, and Products Liability IV (Empirics) (Room 121)

Panel Chair: Ezra Friedman
Alon Cohen, Ariel Porat and Avraham Tabbach, “Inducing Negligence”
Timo Goeschl and Tobias Pfrommer, “Learning by Negligence: Torts,
Experimentation, and the Value of Information”
Tom Baker, Ezra Friedman, and Kyle Logue, “Should Failure to Defend Imply
Forfeiture of Coverage Defenses?”Saturday (cont.)

Panel VIIE:

Social Responsibility and Innovation (Room 124)

Panel Chair: Brian Galle
Dhammika Dharmapala and Vikramaditya Khanna, “The Impact of Mandated
Corporate Social Responsibility: Evidence from India’s Companies Act of 2013”
Marcello Puca and Massimiliano Vatiero, “Ownership and Innovation: Evidence from
Swiss Listed Firms”
Brian Galle, “Valuing the Right to Sue: An Empirical Examination of Nonprofit
Agency Costs”

Panel VIIF:

Behavioral Economics and Regulation II (Room 127)

Panel Chair: Marco Fabbri
Giuseppe Dari-Mattiacci and Alex Raskolnikov, “Combining Carrots and Sticks in
Public and Private Law: Theory and Applications”
Jacob S. Goldin and Daniel Reck, “Preference Identification under Inconsistent
Choice”
Marco Fabbri and Sven Hoeppner, “Virtue Ethics and Compliance Decisions: Field
Evidence of Non-Utilitarian Motives for Law Abiding Behavior”

Panel VIIG:

Taxation, Public Finance, and Transfer Programs III (Empirics)(Room 128)

Panel Chair: Emily Satterthwaite
G. Nathan Dong, “Does Financial Loss Affect the Supply of Public Goods? Evidence
from Charity Care Provision by Nonprofit Hospitals”
Quinn Curtis and Andrew Hayashi, “Tax Avoidance and Mergers: Evidence from
Banks during the Financial Crisis”
Emily Satterthwaite, “Entrepreneurs’ Legal Status Choices and the C Corporation
Survival Penalty”

Saturday (cont.)

Panel VIIH:

Employment and Labor Law; Family Law; Discrimination II (Room 129)

Panel Chair: Paul M. Vaaler
Guilherme de Oliveira, “Turnover or Cash? Sharecropping in the US South”
Joel Waldfogel and Paul M. Vaaler, “Discriminatory Product Differentiation: The
Case of Israel’s Omission from Airline Route Maps”
Giuseppe Dari-Mattiacci and Guilherme de Oliveira, “Slavery vs. Labor”

3:15:

Wine and Cheese Reception (Ruttenberg Dining Hall)