American Law and Economics Association

Twenty-Third Annual Meeting
May 17-18, 2013
Vanderbilt University Law School

American Law and Economics Association 2012-2013
Officers
President: Jennifer Reinganum, Vanderbilt University
Vice President: Douglas G. Baird, University of Chicago
Secretary-Treasurer: Robert E. Scott, Columbia University

Board of Directors
Class of 2013
Oren Bar-Gill, New York University
Jill Fisch, University of Pennsylvania
Betsey Stevenson, University of Michigan
Abraham Wickelgren, University of Texas
Class of 2014
Bernie Black, Northwestern University
Albert Choi, University of Virginia
Gillian Hadfield, University of Southern California
Anup Malani, University of Chicago
Class of 2015
Dhammika Dharmapala, University of Illinois
Lee Anne Fennell, University of Chicago
Thomas Miles, University of Chicago
Henry Smith, Harvard University

Editors of the American Law and Economics Review
Max M. Schanzenbach, Northwestern University
Abraham L. Wickelgren, University of Texas

Executive Secretary
Karen G. CroccoProgram Committee for the 2013 Annual Meeting
Andrew Daughety (Chair)
Dhammika Dharmapala
Thomas J. Miles
Kathryn Spier

Area Organizers
David S. Abrams
Jennifer Arlen
Ronen Avraham
Kenneth M. Ayotte
Scott Baker
David Bjerk
Albert Choi
Alma Cohen
Giuseppe Dari-Mattiacci
John de Figueiredo
Theodore Eisenberg
Rosa Ferrer
Joshua Fischman
Claude Fluet
Michael D. Frakes
Gillian K. Hadfield
Assaf Hamdani
Eric Helland

C. Scott Hemphill
Joni Hersch
James R. Hines, Jr.
Daniel Klerman
Eugene Kontorovich
W. Bentley MacLeod
Florencia Marotta-Wurgler
Peter Menell
Alison Morantz
Edward Morrison
J. J. Prescott
Henry Smith
Christopher Snyder
Holger Spamann
James C. Spindler
Matthew L. Spitzer
Joshua C. Teitelbaum
W. Kip Viscusi

Friday, May 17(All sessions to be held at Vanderbilt University Law School)(Author's name in bold indicates person presenting paper)

8:00 – 9:00:

Registration and Continental Breakfast (First Floor)

9:00 – 10:30:

Session I:

Panel IA:

Antitrust; Regulated Industries: Empirical Analysis (Bartholomew Room)Panel Chair:

Edward A. Snyder

Kai Hueschelrath and Tobias Veith, “The Impact of Cartelization on Pricing
Dynamics: Evidence from the German Cement Industry”
Dennis L. Gärtner and Jun Zhou, “Delays in Leniency Application: Is There Really aRace to the Enforcer's Door?”
Pierre-Yves Cremieux and Edward A. Snyder, “Antitrust Enforcement in the EU and
US: An Empirical Assessment of the Influence of Protectionism”

Panel IB:

Civil and Criminal Procedure: Theory and Evidence (Hyatt Room)Panel Chair: Abraham L. Wickelgren
Adam B. Badawi and Scott Baker, “A Strategic Model of the Standard of Review”
Bernardo S. Da Silveira, “Bargaining with Asymmetric Information: An Empirical
Study of Plea Negotiations”
Abraham L. Wickelgren, “Learning and Settlement with Endogenous Sequential
Litigation”

Panel IC:

Contracts: Incentives and Innovation (Bennett Miller Room)Panel Chair: Gillian K. Hadfield
Di Guo, Xinyu Hua, and Kun Jiang, “An Empirical Analysis of Strategic Contracts”
Richard R. W. Brooks, Alexander Stremitzer, and Stephan Tontrup, “Framing
Contracts: Stretch It but Don’t Break It”
Iva Bozovic and Gillian K. Hadfield, “Scaffolding: Using Formal Contracts to Build
Informal Relations in Support of Innovation”

Friday (cont.)
Panel ID:

Corporate Governance: Directors and Boards (Moore Room)Panel Chair: Michal Barzuza
Steven M. Davidoff, Andrew C.W. Lund, and Robert Schonlau, “Do Outside Directors
Face Labor Market Consequences? A Natural Experiment from the Financial Crisis”
Ronald W. Masulis and Shawn Mobbs, “Reputation Incentives of Independent
Directors: Impacts on Board Monitoring and Adverse Corporate Actions”
Michal Barzuza and Quinn Curtis, “Schoon-er or Later?: Board Structure and the
Dynamics of Corporate Governance”

Panel IE:

Courts; Evidence: Experiments (Renaissance Room)Panel Chair: James M. Binnall
Eyal Zamir, Ilana Ritov, and Doron Teichman, “Seeing is Believing: The AntiInference Bias”
Christoph Engel and Lilia Zhurakhovska, “Words Substitute Fists – The Power ofJustifying Punishment by Explicit Reasons”
James M. Binnall, “A Field Study of the Presumptively Biased: Is There Empirical
Support for Excluding Convicted Felons from Jury Service?”

Panel IF:Intellectual Property: Empirical Analyses of Copyright and Trademark(Alexander Room)Panel Chair: Peter DiCola
David Franklyn and David A. Hyman, “Trademarks as Keywords: Much Ado About
Something?”
Stefan Bechtold and Catherine Tucker, “Trademarks, Triggers and Online Search”
Peter DiCola, “Money from Music: Survey Evidence on Musicians’ Revenue andLessons about Copyright Incentives”

Friday (cont.)
Panel IG:

Political Economy: Experiments (Covington Room)Panel Chair: Stephan Tontrup
Kristoffel Grechenig, Andreas Nicklisch, and Christian Thöni, “Information-sensitive
Leviathans: The Emergence of Centralized Punishment”
Daniel L. Chen and Martin Schonger, “Social Preferences or Sacred Values? Theory
and Evidence of Deontological Motivations”
Stephan Tontrup and Rebecca B. Morton, “Process Utility, Participation, and theValue of Democracy to Humans”

Panel IH:

Torts: Regulation and Reform (Ray Room)Panel Chair: Albert Choi
Andrzej Baniak and Peter Grajzl, “Products Liability when Firms Share a Collective
Reputation”
Ehud Guttel and Shmuel Leshem, “Optimal Allocation of Joint Liability”
Scott Baker and Albert Choi, “Reputation and Litigation: Using Formal Sanctions toControl Informal Sanctions”

10:30 – 11:00:

Coffee Break (First Floor)

11:00 – 12:30:

Session II:

Panel IIA:

Administrative Law; Legislation: Empirical Analysis(Bartholomew Room)Panel Chair: Connor Raso
Tom Ginsburg, Jonathan S. Masur, and Richard H. McAdams, “Multiple Equilibria
and Temporary Law”
Omar Al-Ubaydli and Patrick A. McLaughlin, “RegData: A Numerical Database on
Industry-specific Regulations for All U.S. Industries and Federal Regulations, 1997–
2010”
Connor Raso, “Evaluating Agency Compliance with Rulemaking Process Procedural
Requirements”

Friday (cont.)
Panel IIB:

Civil Procedure: Discovery and Learning (Hyatt Room)Panel Chair: Bruce Kobayashi
Paul Pecorino and Mark Van Boening, “Costly Voluntary Disclosure in a Screening
Game”
Érica Gorga and Michael Halberstam, “Litigation Discovery and Corporate
Governance: The Missing Story about the ‘Genius of American Corporate Law’”
Bruce Kobayashi, “Law's Information Revolution as Procedural Reform: Predictive
Search as a Solution to the In Terrorem Effect of Externalized Discovery Costs”

Panel IIC:
Panel Chair:Contracts: Consumer and Commercial (Bennett Miller Room)
Alan Schwartz

Susan Payne Carter, Paige Marta Skiba, and Justin Sydnor, “The Difference a Day(Doesn’t) Make: Does Giving Borrowers More Time to Repay Break the Cycle of
Repeated Payday Loan Borrowing?”
Lisa Bernstein, “Trade Usage in the Courts: The Flawed Evidentiary Basis of Article
2’s Incorporation Strategy”
Ian Ayres and Alan Schwartz, “Using Term Substantiation to Discover and Disclose
Unexpected Terms in Consumer Contracts”

Panel IID:

Corporate Governance: Managerial Incentives (Moore Room)Panel Chair: James C. Spindler
Robert M. Daines, Grant R. McQueen, and Robert J. Schonlau, “Right on Schedule:
CEO Option Grants and Opportunism”
Brian Galle and David I. Walker, “Non-Profit Executive Pay as an Agency Problem:
Evidence from U.S. Colleges and Universities”
James C. Spindler, “More Long Term Compensation and... More Fraud?”

Panel IIE:

Courts; Judges: Empirical Analysis (Renaissance Room)Panel Chair: W. Bentley MacLeod
Michael S. Kang and Joanna M. Shepherd-Bailey, “The Partisan Foundations of
Judicial Campaign Finance”
Jonathan R. Nash and Rafael I. Pardo, “Rethinking the Principal-Agent Theory ofJudging”
Elliott Ash and W. Bentley MacLeod, “Judicial Employment Contracts and Judge
Performance: Evidence from State Supreme Courts”

Friday (cont.)
Panel IIF:

Criminal Law: Law and Economics of Policing (Alexander Room)Panel Chair: David S. Abrams
Gregorio Caetano and Vikram Maheshri, “Do "Broken Windows" Matter?
Identifying Dynamic Spillovers in Criminal Behavior”
Frank Sloan, Alyssa Platt, and Lindsey Chepke, “Deterring Rearrests for Drinking andDriving”
David S. Abrams and Lior Jacob Strahilevitz, “Do More Eyes on the Road Mean
Better Driving? A Field Experiment”

Panel IIG:

Employment and Labor Law: Economics of Employment Law (Covington
Room)

Panel Chair: Matthew T. Bodie
Masaki Nakabayashi, “Poaching, Courts, and Settlements: Complementarity ofGovernance in Labor Markets”
Matthew Dimick, “What Do Labor Laws Do?”
Matthew T. Bodie, “Participation as a Theory of Employment”

Panel IIH:

Torts: Multiple Actors (Ray Room)Panel Chair: Fernando Gomez
Yoed Halbersberg, “Toward a New Paradigm for Multiple-Victim Torts: The Problem
of Victims Heterogeneity”
Ronen Avraham and John M. Golden, “From PI to IP: Yet Another Unexpected
Effect of Tort Reform”
Juan-José Ganuza and Fernando Gomez, “Procurement and Accidents: Bidding for
Judgment Proofness, and the Limited Liability Curse”

12:30 – 1:45:

Lunch (First Floor)

Friday (cont.)
1:45 – 3:15:

Session III:

Panel IIIA:

Antitrust; Regulated Industries: Government Intervention (Bartholomew
Room)

Panel Chair: Avishalom Tor
Xiangting Hu and Guangliang Ye, “Optimal Partial Privatization with Information
Asymmetry”
Adam R. Fremeth, Guy L. F. Holburn, and Brian Kelleher Richter, “Did Chrysler
Benefit from Government Assistance? Making Causal Inferences in Small Samples
using Synthetic Control Methodology”
Avishalom Tor, “Understanding Behavioral Antitrust”

Panel IIIB:

Civil Procedure and Trials: Litigation Cost, Nuisance Suits, andBifurcation (Hyatt Room)Panel Chair: Francesco Parisi
Amy Farmer and Paul Pecorino, “Litigation with a Variable Cost of Trial”
Thomas J. Miceli and Michael P. Stone, “‘Piggyback’ Lawsuits and Deterrence”
Jef De Mot, Barbara Luppi, and Francesco Parisi, “Are Sequential Trials Really
Better Than Unitary Trials?”

Panel IIIC:

Corporate Governance: Investor Protection (Moore Room)Panel Chair: Max M. Schanzenbach
Quinn Curtis and Ian Ayres, “Measuring Fiduciary and Investor Losses in 401(k)Plans”
Kate Litvak, “Using a Randomized Experiment to Measure the Impact of Information
Quality on Capital Raising and Investment”
Max M. Schanzenbach and Robert H. Sitkoff, “The Prudent Investor Rule: A
Theoretical and Empirical Reassessment”

Panel IIID:

Courts; Evidence: Theory (Renaissance Room)Panel Chair: Louis Kaplow
Alex Stein, “Inefficient Evidence”
Sean Sullivan, “Probative Inference from Phenomenal Coincidence: Demystifying theDoctrine of Chances”
Louis Kaplow, “Likelihood Ratio Tests and Legal Decision Rules”

Friday (cont.)
Panel IIIE:

Intellectual Property: Theory (Alexander Room)Panel Chair: Tracy R. Lewis
Abraham Bell and Gideon Parchomovsky, “Modulating Intellectual Property
Protection”
Guy A. Rub, “Stronger than Kryptonite? An Economic Analysis of Termination ofTransfer and Similar Inalienable Mechanisms”
Tracy R. Lewis, “Platforms for Technology: An Alternative to Markets for Knowhow”

Panel IIIF:

Political Economy: Campaign Finance (Covington Room)Panel Chair: Timothy Werner
Adriana Cordis and Jeffrey Milyo, “Do State Campaign Finance Reforms Reduce
Public Corruption?”
Ahmed Jaber, “Broadband Internet, Voting and Campaign Contributions”
Hollis A. Skaife and Timothy Werner, “The Effects of Corporate ‘Free Speech’ on
Firm Value”

Panel IIIG:

Property Law: Response to Endowments (Bennett Miller Room)Panel Chair: Jennifer Arlen
Peter Ganong and Daniel Shoag, “Why Has Regional Income Convergence in the U.S.
Stopped?”Daniel B. Kelly, “The Divisibility of Property”
Jennifer Arlen and Stephan Tontrup, “The Endowment Effect: Voluntary Debiasing
Through Agents and Markets”

Panel IIIH:

Torts: Damages, Insurance, and Reputation (Ray Room)Panel Chair: Daniel Klerman
Steven Shavell, “Risk Aversion and the Optimality of Attenuated Legal Change”
Levon Barseghyan, Francesca Molinari, Darcy Steeg Morris, and Joshua C.
Teitelbaum, “Unlucky or Risky? Unobserved Heterogeneity and Experience Rating in
Insurance Markets”
Daniel Klerman, “Reputational Economies of Scale”

3:15 – 3:45:

Coffee Break (First Floor)

Friday (cont.)
3:45 – 5:15:

Session IV:

Panel IVA:

Administrative Law; Legislation: Models of Information and Policy(Bartholomew Room)Panel Chair: Jason Scott Johnston
Ryan Bubb and Patrick L. Warren, “Optimal Agency Bias and Regulatory Review”
Yoon-Ho Alex Lee, “An Options-Approach to Agency Rulemaking”
Jason Scott Johnston, “Regulation with Interested Experts”

Panel IVB:

Corporate Governance: Shareholders (Moore Room)Panel Chair: Jeffrey N. Gordon
Jesse M. Fried, “The Uneasy Case for Favoring Long-term Shareholders”
Amir N. Licht, Christopher Poliquin, Jordan I. Siegel, and Xi Li, “What Makes theBonding Stick? A Natural Experiment Involving the U.S. Supreme Court and CrossListed Firms”
John Armour and Jeffrey N. Gordon, “Systemic Harms and the Limits of Shareholder
Value”

Panel IVC:

Courts; Judicial Decision-Making: Influences on Judicial Outcomes(Renaissance Room)Panel Chair: Tonja Jacobi
Stephen J. Choi, Jill E. Fisch, and Adam C. Pritchard, “The Influence of Arbitrator
Background and Representation on Arbitration Outcomes”
Benjamin Alarie, Andrew J. Green, and Edward Iacobucci, “The Prospects of Gamingon High Courts”
Álvaro Bustos and Tonja Jacobi, “Signaling Judicial Retirement”

Panel IVD:

International Law (Alexander Room)Panel Chair: Kevin E. Davis
Eyal Benvenisti and and Amichai Cohen, “War is Governance: Explaining the Logicof the Laws of War from a Principal-Agent Perspective”
Andrew T. Guzman and Katerina Linos, “Human Rights Backsliding”
Stephen J. Choi and Kevin E. Davis, “Foreign Affairs and Enforcement of the Foreign
Corrupt Practices Act”

Friday (cont.)

Panel IVE:

Political Economy; Public Choice: Problems of Democracy (Covington
Room)

Panel Chair: Nuno Garoupa
Michael D. Gilbert, “Campaign Finance Disclosure and the Information Tradeoff”
Daniel L. Chen and Susan Yeh, “The Impact of Government Power to Expropriate
Property on Growth and Inequality”
Nuno Garoupa and Veronica Grembi, “Judicial Review and Political Bias: Movingfrom Consensual to Majoritarian Democracy”

Panel IVF:

Property Law: Law and Private Ordering (Bennett Miller Room)Panel Chair: James R. Hines, Jr.
Yun-chien Chang, “Optional Law in Property: A Theoretical Critique”
Taisu Zhang and Xiaoxue Zhao, “Do Kinship Networks Strengthen Private Property
Rights? Evidence from Rural China”
James R. Hines Jr., “Rational Intestacy and Probate Reform”

Panel IVG:

Taxation; Public Finance: Fiscal Policy (Hyatt Room)Panel Chair: Gerrit De Geest
Natalya Shnitser, “Funding Discipline for U.S. Public Pension Plans: An Empirical
Analysis of Institutional Design”
Siona Listokin-Smith, Yair Listokin, and Samson Mesele, “We the People Fix theBudget: Americans’ Preferences for Revenue Increases and Spending Cuts”
Gerrit De Geest, “Why the Legal System is Superior to the Income Tax at Reducing
Income Inequality”

5:30 – 6:30:

Cocktails (Student Life Center)
A map showing how to go from the Law School to the Student Life Center isavailable at the Conference Registration Desk.

6:30 – 9:00:

ALEA Annual Dinner (Student Life Center)
Presiding: Jennifer Reinganum, President, ALEA
Speaker: Douglas G. Baird, Vice President, ALEA

Saturday, May 18
8:00 – 9:00:

Continental Breakfast (First Floor)

9:00 – 10:30:

Session V:

Panel VA:

Bankruptcy: Personal (Hyatt Room)Panel Chair: Michelle J. WhiteMichelle M. Miller, “Who Files for Bankruptcy? State Laws and the Characteristics ofBankrupt Households”
Will Dobbie and Jae Song, “Debt Relief and Debtor Outcomes: Measuring the Effectsof Consumer Bankruptcy Protection”
Wenli Li, Ishani Tewari, and Michelle J. White, “Does Strip-down of Residential
Mortgages in Bankruptcy Affect the Cost of Credit?”

Panel VB:

Corporate Governance: Theory of the Firm and Private Benefits(Moore Room)Panel Chair: Giuseppe Dari-Mattiacci
Ronald J. Gilson and Alan Schwartz, “Contracting About Private Benefits of Control”
Jonathan M. Barnett and Ehud Kamar, “Release and Catch: Hybrid Organizational
Strategies in Innovation Markets”
Giuseppe Dari-Mattiacci, Oscar Gelderblom, Joost Jonker, and Enrico Perotti, “TheEmergence of the Corporate Form”

Panel VC:

Courts/Juries: Theory (Renaissance Room)Panel Chair: Simone Sepe
Dan Bernhardt and Frances Zhiyun Xu, “The Optimal Extent of Discovery”
Kenneth Ayotte, Ezra Friedman, and Henry E. Smith, “A Safety Valve Model of
Equity as Anti-Opportunism”
Jérôme Mathis, Marcello Puca, and Simone Sepe, “The Social Value of Consensus”

Saturday (cont.)
Panel VD:

Employment and Labor Law: Gender and Employment Issues(Covington Room)Panel Chair: Ian Ayres
V. Blair Druhan, “Determinants of Employer Retaliation after Workplace Sexual
Harassment”
Josef Montag, “Is Pro-Labor Law Pro-Women? Evidence from India”
Ian Ayres and Richard Luedeman, “Price Waterhouse and Gendered Sexual Practices:
A Randomized Experiment of Attitudes towards Gay Men's Penetrative Preferences”

Panel VE:

Intellectual Property: Patents (Ray Room)Panel Chair: Michael D. Frakes
Murat C. Mungan, “The Reward Shifting Effect of Illegalizing Reverse Payment
Settlements”
Shawn P. Miller, “Do ‘Fuzzy’ Software Patent Boundaries Explain High Claim
Construction Reversal Rates?”
Michael D. Frakes and Melissa F. Wasserman, “Do Agencies Delay Costly
Obligations?: An Empirical Analysis of PTO’s Examination Priorities”

Panel VF:

Lawyers and the Legal Profession (Bartholomew Room)Panel Chair: Eric B. Rasmusen
Ian Ayres and Richard R.W. Brooks, “Compensating Differentials in Gender andRacial Gaps among Young Lawyers”
Michael Simkovic and Frank McIntyre, “The Million Dollar Law Degree”
J. Mark Ramseyer and Eric B. Rasmusen, “Improving the Bar by Lowering the Bar:
Licensing Difficulty and Attorney Quality in Japan”

Panel VG:

Property Law: Developing, Dividing, and Taxing (Bennett Miller Room)Panel Chair: Lee Anne Fennell
Vicki Been, Josiah Madar and Simon McDonnell, “Urban Land Use Regulation: Are
Homevoters Overtaking the Growth Machine?”
Richard T. Boylan, “The Ties that Bind: Property Taxation and Neighborhood
Stability”
Yun-chien Chang and Lee Anne Fennell, “Partition and Revelation”

Saturday (cont.)
10:30 – 11:00:

Coffee Break (First Floor)

11:00 – 12:30:

Session VI:

Panel VIA:

Bankruptcy: Corporate (Hyatt Room)Panel Chair:

Jared A. Ellias

Régis Blazy, Jocelyn Martel, and Nirjhar Nigam, “The Choice Between Informal andFormal Restructuring: The Case of French Banks Facing Distressed SMEs”
Deniz Anginer, Sattar Mansi, A. Joseph Warburton, and Min Zhu, “Labor Unions andthe Cost of Debt: Firm-Level Evidence from Union Elections”
Jared A. Ellias, “Do Activist Investors Constrain Managerial Moral Hazard in Chapter
11?: Evidence from Junior Activist Investing”

Panel VIB:

Corporate Governance: Concentration of Ownership (Moore Room)Panel Chair: Dhammika Dharmapala
María Gutiérrez and Maríbel Saez, “A Contractual Approach to Discipline Selfdealing by Controlling Shareholders”
Zohar Goshen and Assaf Hamdani, “Concentrated Ownership Revisited: The
Idiosyncratic Value of Corporate Control”
Vikramaditya Khanna and Dhammika Dharmapala, “Ownership Changes before
Cross-Listings: An Analysis of Reputation, Bonding, and the Mardi Gras Strategy”

Panel VIC:

Corporate Law: Incentives and Behavior in Banks and Investment Funds(Renaissance Room)Panel Chair: Lubomir P. Litov
Jeffrey N. Gordon and Christopher M. Gandia, “Money Market Funds Run Risk: Will
Floating Net Asset Value Fix the Problem?”
Stephen G. Dimmock and William C. Gerken, “Mandatory Registration and Return
Misreporting by Hedge Funds”
Viral Acharya, Lubomir P. Litov, and Simone M. Sepe, “Middle-Level Managers’
Incentives and Bank Risk-Taking: Theory and Evidence”

Saturday (cont.)
Panel VID:

Criminal Law: Law and Economics of Sentencing (Ray Room)Panel Chair: John J. Donohue III
Crystal S. Yang, “Free At Last? Judicial Discretion and Racial Disparities in Federal
Sentencing”
Nadia Campaniello, Theodoros Diasakos, and Giovanni Mastrobuoni, “Rationalizable
Suicides: Evidence from Changes in Inmates’ Expected Length of Sentence”
John J. Donohue III, “Capital Punishment in Connecticut, 1973-2007: A
Comprehensive Evaluation from 4686 Murders to One Execution”

Panel VIE:

Employment Law: Empirical Analysis of the Employment Relationship(Covington Room)Panel Chair: Joyce Sadka
Richard R.W. Brooks and Sarath Sanga, “Commercial Arbitration Agreements
between Sophisticated Parties: An Empirical View”
Keith Finlay, “Stigma in the Labor Market”
David S. Kaplan, Joyce Sadka, and Jorge Luis Silva Mendez, “Monitoring and
Notification: Evidence from a Field Experiment in a Mexican Labor Court”

Panel VIF:

Environmental Law I (Bennett Miller Room)Panel Chair: Laura E. Grant
Jinghui Lim, “Examining the Impact of Monitoring and Enforcement on Stationary
Source Emissions”
Dietrich Earnhart and Robert L. Glicksman, “Coercive vs. Cooperative Enforcement:
Effect of the Regulator-Regulated Entity Relationship on Environmental Management”
Laura E. Grant and Katherine Grooms, “Do Nonprofits Encourage Compliance?
Watershed Groups and the U.S. Clean Water Act”

Saturday (cont.)
Panel VIG:

Health Law: Health Insurance and Individual Choice (Bartholomew
Room)

Panel Chair: Russell Korobkin
On Amir and Orly Lobel, “Risk Management for the Future: Age, Risk, and Choice
Architecture”
Bernard Black, Jose-Antonio Espin-Sanchez, Eric French and Kate Litvak, “The
Effect of Health Insurance on Near-Elderly Mortality”
Russell Korobkin, “Relative Value Health Insurance”

12:30 – 1:45:

Lunch – First Floor

1:45 – 3:15

Session VII:

Panel VIIA:

Corporate Governance: Directors' and Managers' Incentives (Moore
Room)

Panel Chair: Dylan Minor
Dain C. Donelson and Christopher G. Yust, “Litigation Risk and Agency Costs:
Evidence from Nevada Corporate Law”
Roberto Barontini, Stefano Bozzi, Guido Ferrarini, and Maria Cristina Ungureanu,“Directors' Remuneration Before and After the Crisis: Measuring the Impact of
Reforms in Europe”
Dylan Minor, “Pay for Performance: Environmental Disasters and Accounting
Scandals”

Panel VIIB:

Corporate Law: Merger Litigation, Startups, and Corporate Fraud(Renaissance Room)Panel Chair: Vikramaditya Khanna
Brian Broughman, Jesse M. Fried, and Darian Ibrahim, “Delaware Law as Lingua
Franca: Evidence from VC-Backed Startups”
Charles R. Korsmo and Minor Myers, “The Law and Economics of Merger
Litigation: Do The Merits Matter in Shareholder Appraisal?”Vikramaditya Khanna, E. Han Kim, and Yao Lu, “CEO Connectedness andCorporate Frauds”

Saturday (cont.)
Panel VIIC:

Criminal Law: Law and Economics of Criminal Behavior (Ray Room)Panel Chair: A. Mitchell Polinsky
Murat C. Mungan and Jonathan Klick, “Forfeiture of Illegal Gains, Attempts, andImplied Risk Preferences”
Geoffrey Williams, “The Thief's Wages: Understanding Theft Within A Larger Human
Capital Process”
A. Mitchell Polinsky, “Deterrence and the Optimality of Rewarding Prisoners for
Good Behavior”

Panel VIID:

Environmental Law II (Bennett Miller Room)Panel Chair: Jacob Nussim
Gideon Parchomovsky and Endre Stavang, “The Environmental Option”
Sharon Shewmake, Abigail Okrent, Lanka Thabrew, and Michael Vandenbergh,“Carbon Labeling for Consumer Food Goods”
Jacob Nussim, “Information Costs of Externality-Control Instruments”

Panel VIIE:

Health Law: Empirical Analysis (Bartholomew Room)Panel Chair: W. Kip Viscusi
S. Eric Reinhart, Glen B. Taksler, and Daniel L. Chen, “Effects of Disclosure Laws on
Pharmaceutical Company Payments to Physicians”
Kowsar Yousefi and Bernard Black, “Settlement with Insurer Duty to Settle: Structural
Model and Evidence from Malpractice Claims”
J. Bradley Karl, Patricia Born, and W. Kip Viscusi, “The Relationship between theMarkets for Health Insurance and Medical Malpractice Insurance”

Panel VIIF:

Political Economy; Public Law: Expressive Law and Informed
Lawmakers (Covington Room)Panel Chair: David Bjerk
Justin Fox and Matthew C. Stephenson, “The Constraining, Liberating, andInformational Effects of Non-Binding Law”
Laurence Tai, “A Reverse Rationale for Reliance on Regulators”
David Bjerk, “Willful Ignorance in a Biased Information World”

Saturday (cont.)
Panel VIIG:

Taxation: Taxpayer Behavior (Hyatt Room)Panel Chair: Nancy Staudt
Emily Ann Satterthwaite, “The Election to Itemize as an Information-Forcing Screen”
Thomas J. Brennan, “Reinvestment Behavior of Large Repatriating Firms”
Victor Fleischer and Nancy Staudt, “Supercharged IPOs”

3:15 - 4:30:

Wine and Cheese Reception (First Floor)