31st Annual Meeting of the American Law and Economics AssociationOctober 22-23, 2021
Detailed List of Sessions(Presenting Author’s Name in Bold)

NOTE: ALL SESSIONS ARE IN THE EASTERN (US) TIME ZONE
9:00 a.m. Eastern Time = 6:00 a.m. Pacific Time
7:00 a.m. Mountain Time
8:00 a.m. Central Time

Friday, October 22, 2021

10:45 to 11:00:

Welcome and Introduction
Aaron S. Edlin
ALEA Past President, 2020-21

11:00 to 11:15:

Break

11:15 to 12:45:

Antitrust I

Session Chair: Abraham Wickelgren
Joshua Macey and Dan Awrey, “Too Small To Succeed”
David Gilo and Yaron Yehezkel, “Vertical Collusion to Exclude ProductImprovement”
Abraham Wickelgren, “Optimal Merger Standards for Potential Competition: The
Effect of Ex Ante Investment Incentives”

11:15 to 12:45:

Commercial

Session Chair: Marian Moszoro
Lisa Bernstein, “Managerial Contracting: A Preliminary Study”
Sadie Blanchard, “Contracts without Courts or Clans: How Business Networks
Govern Exchange”
Jean Beuve, Marian Moszoro, and Pablo Spiller, “Doing It by the Book: PoliticalContestability and Public Contract Renegotiation”

11:15 to 12:45:

Constitutional Law I

Session Chair: Anusha NathAdam Chilton, Justin Driver, Jonathan Masur, and Kyle Rozema, “AssessingAffirmative Action's Diversity Rationale”
Lisa Lenz and Sergio Mittlaender, “The Effect of Intergroup Contact onDiscrimination”
Anusha Nath, “The Effect of Constitutional Provisions on Education Policy andOutcomes”

11:15 to 12:45:

Corporate I

Session Chair: Michal Barzuza
Eleonora Broccardo, Oliver Hart and Luigi Zingales, “Exit vs. Voice”
Lucian Bebchuk, Kobi Kastiel, and Roberto Tallarita, “For Whom Corporate
Leaders Bargain”
Michal Barzuza and Gideon Parchomovsky, “Board Diversity: The OverlookedEfficiency of Ideological Movements”

211:15 to 12:45:

Criminal Law I

Session Chair: Jennifer Doleac
Alexander Lundberg and Murat Mungan, “The Effect of Evidentiary Rules onConviction Rates”
Aria Golestani, Emily Owens, and Kerri Raissian, “Specialization in Criminal
Courts: Decision Making, Recidivism, and Re-victimization in Domestic Violence
Courts in Tennessee”
Jennifer Doleac, Laurel Eckhouse, Eric Foster-Moore, Allison Harris, Hannah
Walker, and Ariel White, “Registering Returning Citizens to Vote”

11:15 to 12:45:

Inequality, Fiscal & Tax Policy I

Session Chair: Brian Galle
Brian Galle and Yair Listokin, “Monetary Finance”
Ofer Eldar and Chelsea Garber, “Does Government Play Favorites? Evidence
from Opportunity Zones”
Brian Galle and David Gamage, “Tax Avoidance and the Choice of Tax Base”

11:15 to 12:45:

Judicial Behavior I

Session Chair: Sarath Sanga
Yun-chien Chang and Geoffrey Miller, “Things Fall Apart: Decay of Precedentin State Supreme Courts”
Adam Chilton, Peter Joy, Kyle Rozema, and James Thomas, “Improving theSignal Quality of Grades”
Julian Nyarko and Sarath Sanga, “A Statistical Test for Legal Interpretation:
Theory and Applications”

3

11:15 to 12:45:

Protecting Investors and Customers

Session Chair: Michael Simkovic
Stephen Choi, Jessica Erickson, and Adam Pritchard, “Coalitions among
Plaintiffs’ Attorneys in Securities Class Actions”
Danielle D'Onfro, “The New Bailments”
Michael Simkovic, “Natural-Person Shareholder Voting”

12:45 to 1:15:

Lunch Break

1:15 to 2:20:

Plenary Session
Announcement of ALER Best Paper Prizes for 2019 and 2020:
W. Bentley MacLeod, ALEA President, 2021-22
ALEA Presidential Address:
Introduction by Saul Levmore, ALEA Past-President, 2019-20
Presidential Address by Aaron Edlin, ALEA Past-President, 2020-21"Is No Economics Better than Simple Economics?"

2:20 to 2:30:

Break

2:30 to 4:00:

Administrative Law

Session Chair: Yves Oytana
Daniel Hemel, “Regulation and Redistribution with Lives in the Balance”
Jed Stiglitz, “Empty Reasons?”
Murat Mungan, Marie Obidzinski, and Yves Oytana, “Accuracy and Preferencesfor Legal Error”

42:30 to 4:00:

Consumer I

Session Chair: Aileen Nielsen
Jens Frankenreiter, “The Missing "California Effect" in Data Privacy Law”
Omri Ben-Shahar and Oren Bar-Gill, “Manipulation by Mislaid Priorities”
Aileen Nielsen, “Measuring Lay Reactions to Personal Data Markets”

2:30 to 4:00:

Corporate II

Session Chair: Steven Davidoff Solomon
Madison Condon, “Market Myopia's Climate Bubble”
Chong Shu, “The Proxy Advisory Industry: Influencing and Being Influenced”
Adam Badawi, Matthew Cain, and Steven Davidoff Solomon, “Does Voluntary
Financial Disclosure Matter? The Case of Fairness Opinions in M&A”

2:30 to 4:00:

Corporate III

Session Chair: Adriana Robertson
Vikramaditya Khanna and A. Joseph Warburton, “Insuring against
Wrongdoing? Socially Responsible Investing by Mutual Funds”Quinn Curtis, Jill Fisch, and Adriana Robertson, “Do ESG Mutual Funds Deliveron their Promises?”Peter Cziraki and Adriana Robertson, “Credentials Matter, But Only For Men:
Evidence from the S&P 500”52:30 to 4:00:

Creditors/Borrowers I

Session Chair: Katherine Waldock
Jared Ellias, Ehud Kamar, and Kobi Kastiel, “The Rise of Bankruptcy Directors”
Edward Morrison, Jason Donaldson, Giorgia Piacentino, and Xiaobo Yu,“Restructuring vs. Bankruptcy”
Anthony Casey, Frederick Tung, and Katherine Waldock, “Restructuring Support
Agreements: An Empirical Analysis”

2:30 to 4:00:

Criminal Law II

Session Chair: David Abrams
Elliott Ash, Sergio Galletta, and Tommaso Giommoni, “A Machine Learning
Approach to Analyze and Support Anti-Corruption Policy”
Jesse Bruhn, “Competition in the Black Market: Estimating the Causal Effect ofGangs in Chicago”
David Abrams, Hanming Fang, and Priyanka Goonetilleke, “Do Cops Know Who
to Stop? Assessing Optimizing Models of Police Behavior with a NaturalExperiment”

2:30 to 4:00:

Employment, Labor Law, Family Law I

Session Chair: W. Bentley MacLeod
J.J. Prescott and Evan Starr, “Subjective Beliefs about Contract Enforceability”
Josef Montag, “Roma and Bureaucrats: A Field Experiment in the Czech
Republic”
Elliott Ash and W. Bentley MacLeod, “Mandatory Retirement for Judges
Improves the Performance of U.S. State Supreme Courts”

62:30 to 4:00:

Environmental Law

Session Chair: Joshua Macey
Gustavo Torrens and Dean Lueck, “Legal Rules, Economic Selection and theConservation of Wildlife”
Shi-Ling Hsu, “Climate Change, Inequality, Uncertainty and Hoarding”
Joshua Macey, “MOPR Madness”

2:30 to 4:00:

Health Law I

Session Chair: Barak Richman
Michael Frakes, “Public and Private Options in Practice: The Military HealthSystem”
Kowsar Yousefi, Bernard Black, and David Hyman, “Paid Medical Malpractice
Claims: When Does the Past Predict the Future?”
Barak Richman and Steven Schwarcz, “Macromedical Regulation”

4:00 to 4:15:

Break

4:15 to 5:45:

Corporate IV

Session Chair: Cathy Hwang
Allen Hu and Holger Spamann, “Inference with Cluster Imbalance: The Case ofState Corporate Laws”
Byung Hyun Ahn, Panos N. Patatoukas, and Steven Davidoff Solomon,“Identifying Corporate Governance Shocks”
Jens Frankenreiter, Cathy Hwang, Yaron Nili, and Eric Talley, “Cleaning
Corporate Governance”

7

4:15 to 5:45:

Corporate V

Session Chair: Dhammika DharmapalaPeter Molk and Frank Partnoy, “The Long-Term Effects of Short Selling andNegative Activism”
Dhruv Aggarwal, Ofer Eldar, Yael Hochberg, and Lubomir Litov, “The Rise ofDual-Class Stock IPOs”
Dhammika Dharmapala and Vikramaditya Khanna, “Controlling Externalities:
Ownership Structure and Cross-Firm Externalities”

4:15 to 5:45:

Criminal Law III

Session Chair: Zubin Jelveh
Stephanie Didwania, “Mandatory Minimums and Federal Sentences”
Chika Okafor, “Prosecutor Politics: The Impact of Election Cycles on Criminal
Sentencing in the Era of Rising Incarceration”
Ashna Arora and Zubin Jelveh, “The Impact of Specialized Prosecution on theSafety of Domestic Violence Victims”

4:15 to 5:45:

Inequality, Fiscal & Tax Policy II

Session Chair: Ramsi Woodcock
Peter Bassine and Yair Listokin, “Better Rules for Worse Economies: Efficient
Legal Rules over the Business Cycle”
Ramsi Woodcock, “Personalizing Prices to Redistribute Wealth in Antitrust andPublic Utility Rate Regulation”

84:15 to 5:45:

Intellectual Property I

Session Chair: James Dana
Gorkem Bostanci, “Productivity Gains from Labor Outsourcing: The Role ofTrade Secrets”
Danxia Xie and Jinglei Huang, “Sequential Innovation and the Distribution ofProfit: from Theory to Data
James Dana, Bradley Larsen, and Sarah Moshary, “Legalizing Arbitrage: A“Textbook” Case”

4:15 to 5:45:

International & Comparative Law I

Session Chair: Jide Nzelibe
Anu Bradford, Adam Chilton, and Katerina Linos, “Dynamic Diffusion”
Adam Badawi, Giuseppe Dari-Mattiacci, David Law, and Ryan Whalen, “What Is
Legal Similarity and How Do We Measure It?”
Jide Nzelibe, “Mixed Stakes Conflicts in International and Constitutional Law”

4:15 to 5:45:

Litigation I

Session Chair: Ben Chen
Shay Lavie and Avraham Tabbach, “Judgment-Contingent Commitments:
Signaling in Negative Expected-Value Suits”
Yi Chen and Pengfei Zhang, “Mediation and Costly Evidence”
Ben Chen, “Anticipatory Adjudication as Information Design”

9

4:15 to 5:45:

Securities I

Session Chair: Andrew Verstein
Nidhi Aggarwal, Surbhi Bhatia, and Bhargavi Zaveri-Shah, “Surveillance of'Risky' Stocks: Implementation and Impact”
Anthony Lee Zhang, “Competition and Manipulation in Derivative Contract
Markets”
Andrew Verstein and Nejat Seyhun, “Insider Giving”

5:45 to 6:00:

Break

6:00 to 7:30:

ALEA Annual Cocktail Reception
We invite all conference attendees to the Association's virtual “cocktailreception.” This is a wonderful opportunity to mingle and say hello to
your friends and colleagues. Please join us by clicking on the linkprovided. Once inside, you can virtually “walk” around the room by using
your mouse or keyboard trackpad. We hope to see you there!

10Saturday, October 23, 2021
(Reminder: All Sessions are in Eastern (US) Time Zone)
11:00 to 12:30:

Antitrust II

Session Chair: Jeremy McClane
Miguel Anton, Florian Ederer, Mireia Gine, and Martin Schmalz, “Common Ownership,Competition, and Top Management Incentives”
Menesh Patel and Merritt Fox, “Common Ownership: Do Managers Really CompeteLess?”
Jeremy McClane and Michael Sinkinson, “Uncommon Implications of the Common
Ownership Hypothesis”

11:00 to 12:30:

Consumer II

Session Chair: David Hoffman
Christopher Buccafusco, Daniel Hemel, and Eric Talley, “Price Gouging in a Pandemic”
Tamar Kricheli-Katz and Tali Regev, “Biased Reputations”
David Hoffman and Anton Strezhnev, “Leases as Forms”

11:00 to 12:30:

Corporate VI

Session Chair: Andrew Baker
Scott Guernsey, Simone Sepe, Matthew Serfling, “Blood in the Water: The Value ofAntitakeover Provisions during Market Shocks”
Bernard Black, Hemang Desai, Kate Litvak, Woongsun Yoo, and Jeff Yu, “Specification
Choice in Randomized and Natural Experiments: Lessons from the Regulation SHO
Experiment”
Andrew Baker, “Do State Antitakeover Provisions Matter?”11:00 to 12:30:

Creditors/Borrowers II

Session Chair: Belisa Pang
Richard Hynes and Nathaniel Pattison, “A Modern Poor Debtor's Oath”
Pamela Foohey, Robert Lawless, and Deborah Thorne, “Portraits of Consumer
Bankruptcy Filers in the United States”
Edward Morrison, Jon Zytnick, and Belisa Pang, “Manipulating Random Assignment:
Evidence from Consumer Bankruptcies in the Nation’s Largest Cities”

11:00 to 12:30:

Criminal Law IV

Session Chair: Robynn Cox
Jamein Cunningham, Donna Feir, and Rob Gillezeau, “Collective Bargaining Rights,
Policing, and Civilian Deaths”
Sungwoo Cho, Felipe Goncalves, and Emily Weisburst, “Do Police Make Too Many
Arrests?”
Robynn Cox, Jamein Cunningham, and Alberto Ortega, “The Impact of Affirmative
Action Litigation on Police Killings of Civilians”

11:00 to 12:30:

Health Law II

Session Chair: Murat Mungan
Erkmen Aslim, Murat Mungan, Carlos Navarro, and Han Yu, “The Effect of Public
Health Insurance on Criminal Recidivism”
Casey Dougal and Irena Hutton, “Up in Smoke: The Effect of Marijuana Legalization on
Personal Bankruptcy”
Claude Fluet and Murat Mungan, “Laws and Norms with (Un)Observable Actions”

1211:00 to 12:30:

Litigation II

Session Chair: Daniel Klerman
Ronen Avraham, Lynn Baker, and Anthony Sebok, “The MDL Revolution and Consumer
Legal Funding”
Michael Abramowicz, “Modeling Fee Shifting with Computational Game Theory”
Yun-chien Chang and Daniel Klerman, “Settlement around the World: Settlement Rates
in the Largest Economies”

11:00 to 12:30:

Taxation I

Session Chair: Edward Fox
Abhay Aneja and S.K. Ritadhi, “Consumption Tax Reform and the Real Economy:
Evidence from India’s Adoption of a Value-Added Tax”
Wanling Su and Rahul Goravara, “Bargaining for Executive Compensation”
Edward Fox and Zachary Liscow, “The Psychology of Taxing Capital Income: Evidence
from a Survey Experiment on the Realization Rule”

12:30 to 1:00:

Lunch Break

1:00 to 2:15:

Plenary Session: Presentation of the Ronald H. Coase Medal toRoberta Romano
Presentation by Aaron S. Edlin
Speaker and Medalist: Roberta Romano

2:15 to 2:30:

Break13

2:30 to 4:00:

Constitutional Law II

Session Chair: Saul Levmore
Adam Chilton, Daniel Epps, Kyle Rozema, and Maya Sen, “Designing Supreme Court
Term Limits”
Shai Dothan, Mitja Kovac, and Rok Spruk, “Long-Term Effects of Radical Institutional
Overhauls: Evidence from Mexican-American War”
Saul Levmore, “The Case for a Single Appellate Judge”2:30 to 4:00:

Corporate VII

Session Chair: Yaron Nili
Wanling Su and Rahul Goravara, “#MeToo Next Steps: Examining Director
Nondisclosure Agreements”
Miriam Schwartz-Ziv, “How Shifting from In-Person to Virtual Shareholder Meetings
Affects Shareholders’ Voice”
Yaron Nili, “Board Gatekeepers”

2:30 to 4:00:

Intellectual Property II

Session Chair: Melissa Wasserman
Christopher Buccafusco and Jonathan Masur, “Drugs, Patents, and Well-Being”
Charu Gupta, “One Product, Many Patents: Imperfect Intellectual Property Rights in the
Pharmaceutical Industry”
Michael Frakes and Melissa Wasserman, “A Prescription for Rising Drug Prices:Enhanced Patent Examination”

142:30 to 4:00:

Judicial Behavior II

Session Chair: Mehmet Canayaz
Jonathan Petkun, “Nudges for Judges: The Effects of the "Six-Month" List on Federal
Civil Justice”
Yehonatan Givati and Israel Rosenberg, “Why do Judges Grant Rehearing Requests?
Theory and Evidence”
Mehmet Canayaz and Matthew Gustafson, “Judicial Ideology and Business Dynamics”

2:30 to 4:00:

Securities II

Session Chair: Geeyoung Min
Patrick Corrigan, “Do IPO Issuers Avoid Foreseeable IPO Underpricing? An
Underwriter Agency Cost and Passive Manager Explanation for Underestimated PricingRanges”
Anup Agrawal and Yuree Lim, “Does General Solicitation Improve Access to Capital for
Small Businesses? Evidence from the JOBS Act”
Geeyoung Min and Kwon-Yong Jin, “Relational Enforcement of Stock Exchange Rules”

2:30 to 4:00:

Taxation II

Session Chair: Zachary Liscow
Jacob Goldin, Tatiana Homonoff, Rizwan Javaid, and Brenda Schafer, “Tax Filing andTake-Up: Experimental Evidence on Tax Preparation Outreach and EITC Participation”
Wei Cui, “Taxpayer Self-Inspections, Audits, and Optimal Tax Administration: Evidencefrom China”
Zachary Liscow and Abigail Pershing, “Why Is So Much Redistribution In-Kind and Not
in Cash? Evidence from a Survey Experiment”

15

2:30 to 4:00:

Torts

Session Chair: Ronen Avraham
Tim Friehe, Lam Pham, and Thomas Miceli, “Product Liability and Strategic Delegation:
Endogenous Manager Incentives Promote Strict Liability”
Henrik Lando and Urs Schweizer, “Causation and the Incentives of Multiple Injurers”
Ronen Avraham and Ariel Porat, “The Dark Side of Insurance”

4:00 to 4:15:

Break

4:15 to 5:45:

Antitrust III

Session Chair: Daniel Sokol
Justin Johnson, Andrew Rhodes, and Matthijs Wildenbeest, “Platform Design WhenSellers Use Pricing Algorithms”
Hans-Theo Normann and Martin Sternberg, “Hybrid Collusion: Algorithmic Pricing in
Human-Computer Laboratory Markets”
Daniel Sokol, “Debt, Control, and Collusion”

4:15 to 5:45:

Corporate VIII

Session Chair: Roberto Tallarita
Alma Cohen, Moshe Hazan, and David Weiss, “Politics and Gender in the ExecutiveSuite”
Gabriel Rauterberg, “Is Corporate Law Nonpartisan?”Roberto Tallarita, “Stockholder Politics”

16

4:15 to 5:45:

Creditors/Borrowers III

Session Chair: Patrick Moran
Michelle Miller, “The Impact of Paid Sick Leave Laws on Personal and Business
Bankruptcies”
Maria Maciá, “The Disparate Impact Standard and Housing Discrimination in Mortgage
Lending”
Agnes Kovacs and Patrick Moran, “Breaking the Commitment Device: The Effect ofHome Equity Withdrawal on Consumption, Saving, and Welfare”

4:15 to 5:45:

Employment, Labor Law, Family Law II

Session Chair: Steven Shavell
Kate Litvak, “The Glass Cliff: Are Women Disproportionately Appointed to Run
Troubled Firms?”
Rachel Arnow-Richman, James Hicks, and Steven Davidoff Solomon, “Do Social
Movements Spur Corporate Change? The Rise of “MeToo Termination Rights” in CEOContracts”
Steven Shavell, “On the Law of the Household: The Principles Used by Parents inDisciplining Their Children”

4:15 to 5:45:

Health Law III

Session Chair: Jetson Leder-Luis
Benjamin McMichael, “Stealing Organs?”
Christopher Robertson, Daniel Scheitrum, K. Aleks Schaefer, Trey Malone; Brandon
McFadden, Paul Ferraro, and Kent Messer, “Paying People to Take the Vaccine—Would it
Help or Backfire?”
Jetson Leder-Luis, “Can Whistleblowers Root Out Public Expenditure Fraud? Evidence
from Medicare”

17

4:15 to 5:45:International & Comparative Law II

Session Chair: Kevin Davis
Alan Sykes, “Disputes in International Investment and Trade”
Lisa Yao Liu, “Capital Market Incentives and Regulatory Challenges in Investor-State
Dispute Settlement”
Kevin Davis, “International Regulation of Law Enforcement: The OECD Anti-Bribery
Convention and the SNC-Lavalin Affair”

5:45 – 7:00:

Post-Conference (virtual) Farewell Gathering

18