Demsetz presented and discussed his paper, which sets forth a simple economic framework for understanding the evolution of property rights. The conference included both critiques and extensions of the initial Demsetz hypothesis, according to Thomas W. Merrill, conference organizer and John Paul Stevens Professor of Law at Northwestern.
Some commentators remain unconvinced.
Other conference organizers include Northwestern University School of Law faculty David D. Haddock and Henry E. Smith, who also presented papers and moderated discussions. Merrill , who moderated the discussion of Demsetz's paper, has done research on property law, constitutional protection of property rights, administrative law and judicial decision-making. He served as deputy solicitor general in the U.S. Department of Justice from 1987 to 1990. Mont. He is a specialist in law and economics, economic history, economic geography and industrial organization. He has written numerous articles for books and professional journals.