American Law and Economics Association - Twenty-Fifth Annual Meeting

May 15-16, 2015  All sessions to be held at Columbia Law School Friday, May 15 (Author's name in bold indicates person presenting paper) 8:00 – 8:45:       Registration and Continental Breakfast Panel IA:          Consumer Bankruptcy Panel Chair: Kathryn Fritzdixon Will Dobbie, Paul Goldsmith-Pinkham, and Crystal Yang, “Consumer Bankruptcy and Financial Health” Discussant: Frank McIntyre Rajashri Chakrabarti and Nathaniel Pattison, “Auto Credit and the 2005 Bankruptcy Reform: The Impact of Eliminating Cramdowns”             Discussant: Nadia Nasser-Ghodsi Kathryn Fritzdixon, “Do Larger Subprime Loans cause Debt Spirals? Evidence from the TN Auto Title Lending Market”                         Discussant: Chrystin Ondersma Panel IB:          Criminal Procedure Panel Chair:            Murat C. Mungan  Andrew F. Daughety and Jennifer F. Reinganum, “Informal Sanctions on Prosecutors and Defendants and the Disposition of Criminal Cases” Discussant: Anthony Nibbles Barbara Luppi, Francesco Parisi, and Daniel Pi, “Reasonable Doubt: An Economic Analysis”                         Discussant: Yehonatan Gavin Murat C. Mungan and Jonathan Klick, “Reducing Guilty Pleas through Exoneree Compensations”                         Discussant: Jennifer Reinganum Friday (cont.)  Panel IC:         Courts, Politics, and Finance Panel Chair:             Pat Akey Yotam Kaplan, and Noam Gidron, “The Champion of a New Order: The Supreme Court and the Liberalization of the U.S. Economy” Discussant: Rafael Franck Abhay Aneja, Marian Moszoro, and Pablo T. Spiller, “Political Bonds: Political Hazards and the Choice of Municipal Financing Instruments” Discussant: Suresh Naiad Pat Akey, “Valuing Changes in Political Networks: Evidence from Campaign Contributions to Close Congressional Elections” Discussant: Thomas Bourveau  Panel ID:          Administrative Law and Legislation Panel Chair: Eyal Amir Jonathan S. Masur and Eric A. Posner, “Toward a Pigovian State” Discussant: Gillian Metzger Brian Broughman and Deborah A. Widiss, “After the Override: An Empirical Analysis of Shadow Precedent” Discussant: Thomas Merrill Eyal Zamir, Daphna Lewinsohn-Zamir, and Ilana Ritov, “It's Now or Never! Using Deadlines as Nudges” Discussant: Jed Stiglitz Panel IE:          Antitrust and Public Goods      Panel Chair:            Aaron Edlin Keith N. Hylton, “Competition and Innovation: A Framework for the Patent-Antitrust Conflict” Discussant: TBA Eric Helland and Seth A. Seabury, “Are Settlements in Patent Litigation Collusive? Evidence from Paragraph IV Challenges” Discussant: Scott Hemphill Aaron Edlin, Scott Hemphill, Herbert Hovenkamp, and Carl Shapiro, “The Actavis Inference: Theory and Practice” Discussant: Ezra Friedman Friday (cont.)  Panel IF:           Formal Versus Informal Contracts      Panel Chair:            Abraham L. Wickelgren Stephan Tontrup, “Pacta sunt Servanda – Testing Voluntary Compliance to Contracts” Discussant: Richard McAdams Zev J. Eigen and David A. Hoffman, “A Fuller Understanding of Contractual Commitment” Discussant: Dane Chorley Abraham L. Wickelgren, “A Novel Justification for Legal Restrictions on Non-compete Clauses” Discussant: Albert Choi   Panel IG:          Corporate Governance: Theory of Organization and Governance      Panel Chair: Jesse Fried

1. Andrew Hanssen and Alexander Raskovich, “The Property Rights Theory of Vertical Relations: Evidence from the Hollywood Studio Era”

Discussant: Albert Choi Zohar Goshen and Richard Squire, “Principal Costs” Discussant: Jesse Fried Jesse Fried, “The Illusory Promise of Pre-emptive Rights” Discussant: Zohar Goshen Panel IH:          Bias, Stereotypes, and Discrimination      Panel Chair: Eric A. Posner Anat Bracha, Alma Cohen, and Lynn Conell-Price, “Affirmative Action and Stereotype Threat” Discussant: Marco Fabbri Prasad Krishnamurthy and Aaron Edlin, “Affirmative Action and Stereotypes in Higher Education Admissions” Discussant: Eric Rasmusen Adam S. Chilton and Eric A. Posner, “An Empirical Study of Political Bias in Legal Scholarship” Discussant: F. Andrew Hansen 10:30 – 11:00:    Coffee Break Friday (cont.) 11:00 – 12:45:    Session II:         Panel IIA:         Mergers, Acquisitions, and Takeovers Panel Chair: Nitzan Shilon Xiumin Martin and Emanuel Zur, “Dodging Repatriation Tax - Evidence from Domestic and Foreign M&As” Discussant: Yair Listokin Lucian Bebchuk, Alon Brav, and Wei Jiang, “The Long-Term Effects of Hedge Fund Activism” Discussant: Darius Palia  Nitzan Shilon, “The Case for Managerial Signaling in Deciding Hostile Takeovers”             Discussant: Kathryn Judge Panel IIB:         Topics in Tax Policy Design I Panel Chair: Yehonatan Givati David Schizer, “Limiting Tax Expenditures” Discussant: Joshua Blank Jacob Goldin, “Nudges, Mandates, and Taxes: Policy Design with Active and Passive Decision-Makers” Discussant: Wojciech Kopczuk Yehonatan Givati, “Googling a Free Lunch: The Taxation of Fringe Benefits” Discussant: Jacob Goldin Panel IIC:        Contracts and Bargaining Panel Chair: Lisa Bernstein Victor Goldberg, Buffalo's Field of Dreams: Kenford Company v. Erie County Discussant: Dan Kelly Benjamin Shmueli, “When Can Post-Judgment Bargaining Be Anticipated: Bridging Economic and Behavioral Approaches”                         Discussant: Luigi Franzoni Lisa Bernstein, “Private Ordering, Social Capital, and Network Governance in Procurement Contracts: A Preliminary Exploration” Discussant: Jody Kraus Friday (cont.)  Panel IID:         Informational Efficiency in Securities Markets Panel Chair:  Merritt B. Fox Robert J. Jackson, Jr., Wei Jiang, and Joshua Mitts, “How Quickly Do Markets Learn? Private Information Dissemination in a Natural Experiment” Discussant: Allen Ferrell April Klein and Tao Li, “Costs and Benefits of Acquiring Information: How Hedge Fund Managers Trade on the Freedom of Information Act” Discussant: Robert Jackson Merritt B. Fox, Lawrence R. Glosten and Gabriel V. Rauterberg, “The New Stock Market: Sense and Nonsense” Discussant: Joshua Mitts Panel IIE:        International Trade and Investment      Panel Chair: Dmitriy Skougarevskiy Jiwon Lee and Teresa Wittgenstein, “Weak vs. Strong Ties: Explaining Early Settlement in WTO Disputes” Discussant: Ben Depoorter Alan O. Sykes, “Economic Necessity in International Law” Discussant: Kevin E. Davis Wolfgang Alschner and Dmitriy Skougarevskiy, “Consistency and Legal Innovation in the BIT Universe” Discussant: Kish Parella Panel IIF:         Patents I      Panel Chair: David S. Abrams Michael D. Frakes and Melissa F. Wasserman, “Is the Time Allocated to Review Patent Applications Inducing Examiners to Grant Invalid Patents?: Evidence from Micro-Level Application Data” Discussant: Kevin Collins John R. Allison and Lisa Larrimore Ouellette, “How Courts Adjudicate Patent Definiteness and Disclosure” Discussant: Kathy Strandburg David S. Abrams, Ufuk Akcigit, and Jillian Popadak, “A First Empirical Look at NPE's” Discussant: Christopher Sprigman Friday (cont.) Panel IIG:        Judicial Behavior I Panel Chair:             Doron Teichman Arnaud Philippe and Aurélie Ouss, “‘No hatred or malice, fear or affection’: Media and Sentencing” Discussant: Miguel F.P. de Figueiredo Adi Leibovitch, “Relative Judgments” Discussant: Max Schanzenbach Doron Teichman, Yuval Feldman, and Amos Schurr, “Anchoring Legal Standards” Discussant: Adi Leibovitch Panel IIH:         Empirical Studies in Criminal Law      Panel Chair: Emily Owens Adam B. Cox and Thomas J. Miles, “Cooperating with the Cops: The Secure Communities Program and Clearance Rates” Discussant: Crystal Yang Emily Owens, “Testing the School-to-Prison Pipeline” Discussant: Amanda Agan Miguel F.P. de Figueiredo, “Throw Away the Jail or Throw Away the Key? The Effect of Punishment on Recidivism and Social Cost” Discussant: John J. Donohue III 12:45 - 2:00:      Lunch 2:00 – 3:45:       Session III:       Panel IIIA:       Topics in Domestic and International Taxation      Panel Chair: Elizabeth Chorvat John R. Brooks, II, “Quasi-Public Spending on Quasi-Public Goods” Discussant: Edward Fox Mihir A. Desai and Dhammika Dharmapala, “Interest Deductions in a Multijurisdictional World” Discussant: Mitchell Kane Elizabeth Chorvat, “Looking Through Corporate Expatriations for Buried Intangibles” Discussant: Fadi Shaheen Friday (cont.) Panel IIIB:        Procedure and Litigation I Panel Chair:   Giuseppe Dari-Mattiacci Dov Fox and Alex Stein, “Watersheds” Discussant: Keith N. Hylton Itai Ater, Yehonatan Givati, and Oren Rigbi, “The Right to Counsel: Benefits and Costs” Discussant: Crystal Yang Giuseppe Dari-Mattiacci and Margherita Saraceno, “Fee-shifting with Two-sided Asymmetric Information” Discussant: William Hubbard Panel IIIC:        Lawyers and Law Firms Panel Chair: David A. Hyman Jamein P. Cunningham, “An Evaluation of the Federal Legal Services Program: Evidence from Crime Rates and Property Values” Discussant: Gerd Muehlheusser John Morley, “Why Law Firms Collapse” Discussant: Lisa Rohrer David A. Hyman, Mohammad Rahmati, Charles Silver, and Bernard Black, “Are Successful Plaintiffs’ Lawyers Good, or Just Lucky?” Discussant: Ronen Avraham Panel IIID:       Precedent and Legal Rules Panel Chair:             Anup Malani Daniel Chen, Jens Frankenreiter, and Susan Yeh, “Measuring the Effects of Legal Precedent in U.S. Federal Courts” Discussant: Jeff Lax Charles M. Cameron and Lewis A. Kornhauser, “Stare Decisis and Judicial Log-Rolls: A Gains-from-Trade Model” Discussant: Scott Baker Scott Baker and Anup Malani, “Judicial Learning and the Quality of Legal Rules” Discussant: Jonathan Kasteller Friday (cont.) Panel IIIE:        Executives and Litigation Risk Panel Chair: Emanuel Zur Suman Banerjee, Mark Humphery-Jenner, Vikram Nanda, and Mandy Tham,, “Executive Overconfidence and Securities Class Actions” Discussant: Eric Talley James Malm and Shawn Mobbs, “Independent Directors and Corporate Litigation” Discussant: Michael Klausner Hagit Levy, Ron Shalev, and Emanuel Zur, “The Effect of CFO Personal Litigation Risk on Firms’ Disclosure and Accounting Choices” Discussant: Jared Wilson Panel IIIF:       Political Connections, Networks, Contributions Panel Chair: Prasad Krishnamurthy Thomas Bourveau, Renaud Coulomb, and Marc Sangnier, “Political Connections and Insider Trading” Discussant: Yotam Kaplan Geeyoung Min and Hye Young You, “Active Shareholders and Active Firms: Shareholder Proposal and Corporate Political Activity” Discussant: Daniel Wolfenzon Thomas Lambert, “Lobbying on Regulatory Enforcement Actions: Evidence from Banking” Discussant: Prasad Krishnamurthy Panel IIIG:       Experiments      Panel Chair: Ben Depoorter Dan Ariely, Ximena Garcia-Rada, Lars Hornuf, and Heather Mann, “The (True) Legacy of Two Really Existing Economic Systems” Discussant: Alexander Stremitzer Emanuela Carbonara and Marco Fabbri, “Social Influence on Third-party Punishment: an Experiment” Discussant: Stephan Tontrup Ben Depoorter and Stephan Tontrup, “Unenforced Laws: A Field Experiment” Discussant: Macartan Humphreys Panel IIIH:       Judicial Behavior II      Panel Chair: W. Bentley MacLeod  Adam Feldman and Elli Menounou, “Words That Matter: Predicting Persuasive Briefs in the United States Supreme Court” Discussant: Jed Stiglitz Donald P. Green, Jonathon S. Krasno, Costas Panagopoulos, Michael Schwam-Baird, and Dane Thorley, “Please Recuse Yourself: A Field Experiment Exploring the Relationship between Campaign Donations and Judicial Recusal” Discussant: Jonah Gelbach Elliott Ash and W. Bentley MacLeod, “Incentive and Selection Effects of Judicial Elections: Theory and Evidence from State Supreme Courts” Discussant: Daniel Chen 3:45 – 4:15:       Coffee Break 4:15 – 6:00:       Session IV: Panel IVA:        Financial Institutions I: Does the Regulation of Financial Institutions Improve Outcomes?      Panel Chair:             Gerard Hertig Talia Gillis, “Testing Beyond Comprehension” Discussant: Alexei Alexandrov Andrew F. Tuch, “Regulating Investment Bankers’ Loyalty in Mergers and Acquisitions” Discussant: Donna Hitscherich Ettore Croci, Gerard Hertig, and Eric Nowak, “Decision-Making during the Crisis: Why did the Treasury let Commercial Banks fail?” Discussant: Anita Anand Panel IVB:        Topics in Tax Policy Design II    Panel Chair:  Zachary Liscow Yair Listokin, “Tax Expenditure Estimates Are Almost as Good as Revenue Estimates” Discussant: David Kamin Lee Anne Fennell and Richard H. McAdams, “The Distributive Deficit in Law and Economics” Discussant: Zachary Liscow Zachary Liscow, “How Income Taxes Should Change during Recessions” Discussant: John R. Brooks, II Panel IVC:        Antitrust Panel Chair: Daniel L. Rubinfeld Michal S. Gal and Daniel L. Rubinfeld, “The Hidden Costs of Free Goods: Implications for Antitrust Enforcement” Discussant: James Dana Tamer Cetin and Kadir Y. Eryigit, “Measuring the Economic Effects of Deregulation: Evidence from the Turkish Airline Industry” Discussant: Daniel L. Rubinfeld Alexei Alexandrov and Daniel F. Spulber, “Sufficient Decisions in Multi-Sided and Multi-Product Markets” Discussant: Pablo Spiller Panel IVD:        Employment and Labor Law      Panel Chair: Evan Starr Alison Morantz, Kathleen Choi, and Alexander Weiss, “Filing Not Found: Which Injuries Go Unreported to Worker Protection Agencies, and Why?” Discussant: David Hoffman Egor Matveyev, “Assortative Matching in Managerial Labor Markets: Theory and Measurement” Discussant: Pierre-Andre Chiappori Evan Starr, Norman Bishara, and JJ Prescott, “Noncompetes in the US Labor Force” Discussant: Paige Skiba Panel IVE:        Regulatory Competition      Panel Chair: Eric L. Talley K.J. Martijn Cremers and Simone M. Sepe, “Whither Delaware? Limited Commitment and the Financial Value of Corporate Law” Discussant: Michal Barzuza Jared I. Wilson, “The Value of Exclusive Forum Provisions” Discussant: Simone Sepe Eric L. Talley, “Corporate Inversions and the Unbundling of Regulatory Competition”             Discussant: Roberta Romano Panel IVF:       Negligence Panel Chair: Omri Ben-Shahar Alice Guerra, Barbara Luppi, and Francesco Parisi, “Presumption of Negligence” Discussant: Shmuel Leshem Alon Cohen and Avraham Tabbach, “Informational Negligence Law” Discussant: Fernando Gomez Omri Ben-Shahar and Ariel Porat, “Personalizing Negligence Law” Discussant: Michael Frakes Panel IVG:        Voting, Elections, Representation Panel Chair: Abhay Aneja Raphael Franck, “The Lawyers' Comparative Advantage in Parliamentary Elections” Discussant: Pat Akey Vardges Levonyan, “What Led to the Ban on Same-Sex Marriage in California?: Structural Estimation of Voting Data on Proposition 8” Discussant: Barak Richman Abhay Aneja, “The Causal Effect of Political Representation on Crimes against Ethnic Minorities: State-level Evidence from India” Discussant: Sunita Parikh        Panel IVH:        Secondary Liability and Enforcement in Securities Markets Panel Chair: Assaf Hamdani James J. Park, “Auditor Contributions to Securities Class Action Settlements” Discussant: Sean Griffith Stephen J. Choi and Adam C. Pritchard, “SEC Investigations and Securities Class Actions: An Empirical Comparison” Discussant: Merritt B. Fox Assaf Hamdani, “Respondeat Superior and Secondary Liability” Discussant: David Webber 6:00 – 7:00:       Cocktails 7:00:                 ALEA Annual Dinner                         Presiding:          Robert Scott, President, ALEA                         Speaker:            Kathryn Spier, Vice President, ALEA Saturday, May16 8:00 – 8:30:       Continental Breakfast 8:30 – 10:15:      Session V: Panel VA:         Empirical Research in Taxation      Panel Chair:             Kyle Rozema Matthew Dimick, David Rueda, and Daniel Stegmueller, “The Altruistic Rich? Inequality and Other-Regarding Preferences for Redistribution in the US” Discussant: Kyle Rozema Edward Fox, “Do Taxes Affect Marriage? Lessons from History” Discussant: Dhammika Dharmapala Kyle Rozema, “Excise Taxes and the Allocation of Producer Surplus” Discussant: Matthew Dimick Panel VB:         Torts: Data and Theory Panel Chair: Benjamin J. McMichael Robert Cooter and David DePianto, “Community vs Market Values of Life” Discussant: Eric A. Posner Benjamin Ogden and Keith N. Hylton, “Incentives to Take Care Under Contributory and Comparative Fault” Discussant: Ezra Friedman Benjamin J. McMichael, “Beyond Physicians: The Effect of Licensing and Liability Laws on Nurse Practitioners and Physician Assistants” Discussant: Jill Horwitz Panel VC:         Institutional Investors Panel Chair: Katherine Valerie Litvak Paul Calluzzo and Simi Kedia, “Mutual Fund Board Connections and Proxy Voting” Discussant: Quinn Curtis Joseph McCahery, Zacharias Sautner, and Laura T. Starks, “Behind the Scenes: The Corporate Governance Preferences of Institutional Investors” Discussant: Holger Spamann Vladimir Atanasov, Thomas Hall, Vladimir Ivanov, and Katherine Valerie Litvak, “The Impact of Public Pension Funds on Governance of Venture Capital Funds: Which Limited Partners Limit VC Opportunism?” Discussant: Brian Broughma Saturday (cont.) Panel VD:         Procedure and Litigation II      Panel Chair: Minor Myers Dan Klerman and Greg Reilly, “Forum Selling” Discussant: Paul R. Gugliuzza Shay Lavie, “Quotas” Discussant: Zach Clopton Charles R. Korsmo and Minor Myers, “Aggregation by Acquisition: Replacing Class Actions with a Market for Legal Claims” Discussant: Avery Katz Panel VE:         Property Regimes in China      Panel Chair: Wei Zhang Yun-chien Chang and Henry E. Smith, “The Numerus Clausus Principle, Property Customs, and the Emergence of New Property Forms” Discussant: Henry Hansmann Shitong Qiao, “Small Property, Big Market: A Focal Point Explanation         “ Discussant: Lee Anne Fennell Ji Li and Wei Zhang, “Weak Law v. Strong Ties: An Empirical Study of Business Investment, Law and Political Connections in China” Discussant: Frank Upham Panel VF:          Judicial Behavior III     Panel Chair: Joshua B. Fischman Michael A. Bailey and Matthew L. Spitzer, “Appointing Extremists Discussant: Charles M. Cameron Daniel L. Chen, Moti Michaeli, and Daniel Spiro, “Ideological Perfectionism on Judicial Panels” Discussant: Anup Malani Joshua B. Fischman and Tonja Jacobi , “The Second Dimension of the Roberts Court” Discussant: Vardges Levonyan Panel VG:         Copyright      Panel Chair: Guy A. Rub Paul Justin Heald, Kristofer Erickson, and Martin Kretschmer, “The Valuation of Unprotected Works: The Case of Public Domain Photographs on Wikipedia” Discussant: Guy A. Rub Milton Harris, S. Abraham Ravid, Ronald Sverdlove, and Suman Basuroy, “Intellectual Property Contracts: Theory and Evidence from Screenplay Sales”                         Discussant: Lisa Larrimore Ouellette Guy A. Rub, “Reconciling the Copyright-Contracts Conflict” Discussant: Scott Baker Panel VH:         Corporate Governance: Empirical Methods  Panel Chair: Brian Galle Emiliano M. Catan and Marcel Kahan, “The Law and Finance of Anti-Takeover Statutes” Discussant: Darius Palia Vladimir Atanasov and Bernard Black, “The Trouble with Instruments: Re-examining Shock-Based IV Designs” Discussant: Wei Jiang Brian Galle and David Walker, “Sunshine, Stakeholders, and Executive Pay: A Regression-Discontinuity Approach” Discussant: Emiliano Catan 10:15 – 10:45:    Coffee Break 10:45 – 12:30:    Session VI: Panel VIA:        Financial Institutions II: The Financial Crisis in Retrospect: Can We Do Better in Policing Systemic Risk?      Panel Chair: Anthony J. Casey Kathryn Judge, “Thirteen Months: The Role of a Modern Lender of Last Resort” Discussant: Prasad Krishnamurthy Wulf A. Kaal, Barbara Luppi and Sandra Paterlini, “Did the Dodd-Frank Act Impact Private Fund Performance? Evidence from 2010  to­ 2015” Discussant: Katherine Valerie Litvak Anthony J. Casey and Eric A. Posner, “A Framework for Bailout Regulation” Discussant: Michael Simkovic Panel VIB:       Can Legal Reforms Improve the Quality of Medical Care?                  Panel Chair: Jill Horwitz Michael Frakes, Matthew Frank, and Seth Seabury, “The Impact of National Medical Liability Standards on Local Access to Physician Services” Discussant: Kristin Madison Paola Bertoli, Sofia Amaral Garcia, and Veronica Grembi, “Does Experience Rating Improve Obstetric Practices? Evidence from Geographical Discontinuities” Discussant: Elliott Ash Myungho Paik, Bernard Black, and David A. Hyman, “Damage Caps and Defensive Medicine, Revisited” Discussant: Frank A. Sloan Panel VIC:        Liability Insurance      Panel Chair: Kyle Logue Patricia A. Robinson, Frank A. Sloan, and Lindsey M. Eldred, “Advantageous Selection, Moral Hazard, and Insurer Sorting on Risk in the U.S. Automobile Insurance Market” Discussant: Joshua Teitelbaum Henrik Lando, “Optimal Rules of Misrepresentation in Insurance Law” Discussant: Abraham L. Wickelgren Omri Ben-Shahar and Kyle Logue, “Under the Weather: Government Insurance and the Regulation of Climate Risks” Discussant: Brian Galle Panel VID:        Contract Theory      Panel Chair: Kevin E. Davis Maija Halonen-Akatwijuka and Oliver D. Hart, “Short-term, Long-term, and Continuing Contracts” Discussant: W. Bentley MacLeod Juanjo Ganuza and Fernando Gomez, “Formal Contracts without Courts” Discussant: Patrick Bolton Oren Bar-Gill and Kevin E. Davis, “(Mis)perceptions of Law in Consumer Markets” Discussant: Andrew F. Daughety Panel VIE:        Corporate Governance: Directors and Shareholders      Panel Chair: Jordan M. Barry Yaron Nili, “Servants of Two Masters? The Feigned Hysteria over Activist-Paid Directors” Discussant: Slava Fos Matthew D. Cain, Jill E. Fisch, Sean J. Griffith, and Steven Davidoff Solomon, “How Corporate Governance is Priced: The Case of the Golden Leash” Discussant: Dhammika Dharmapala Lynne L. Dallas and Jordan M. Barry, “Long-Term Shareholders and Time-Phased Voting” Discussant: Assaf Hamdani Panel VIF:        Judicial Behavior IV      Panel Chair: Christopher L. Griffin, Jr. Claudine Desrieux and Romain Espinosa, “Do Employers Fear Unions in Labor Courts? Theory and Evidence from French Labor Courts” Discussant: Dan Klerman Guy Grossman, Oren Gazal-Ayal, Sam Pimentel, and Jeremy Weinstein, “Descriptive Representation and Judicial Outcomes in Multi-Ethnic Societies” Discussant: Thomas J. Miles Christopher L. Griffin, Jr., “An Empirical Assessment of Panel Effects in Quasi-Judicial Decision Making” Discussant: Jens Frankenreiter Panel VIG:        Patents II Panel Chair: Shawn P. Miller Roger Smeets, “Does Patent Litigation Crowd Out Corporate R&D? An Analysis of US Public Firms” Discussant: David S. Abrams Ian Ayres and Amy Kapczynski , “Innovation Sticks: The Limited Case for Penalizing Failures to Innovate” Discussant: Giuseppe Dari-Mattiaci Mark A. Lemley and Shawn P. Miller, “If You Can't Beat 'Em, Join 'Em? How Sitting by Designation Affects Judicial Behavior” Discussant: David Schwartz Saturday (cont.)  Panel VIH:        Criminal Law: Theory and Data      Panel Chair: Shmuel Leshem Ricard Gil and Mario Macis, “Ain't No Rest for the Wicked”: Population, Crime, and the 2013 Government Shutdown” Discussant: Max Schanzenbach Berno Buechel and Gerd Muehlheusser, “Black Sheep or Scapegoats? Implementable Monitoring Policies under Unobservable Levels of Misbehavior” Discussant: Nicolas Sahugeut Ehud Guttel and Shmuel Leshem, “On the Credibility of Prosecutorial (and other) Threats” Discussant: Omri Ben-Shahar 12:30 –1:45:       Lunch 1:45 – 3:30:       Session VII: Panel VIIA:       Crime Prevention Panel Chair: Andrea Cann Chandrasekher Jillian B. Carr and Jennifer L. Doleac, “Keep the Kids Inside: Juvenile Curfews, Bad Weather, and Urban Gun Violence” Discussant: Bernardo S. da Silveira Andrew Porter, “Libraries Fighting Crime: Spillover Effects of Public Institutions” Discussant: Eric Helland Andrea Cann Chandrasekher, “The Effect of Police Slowdowns on Crime” Discussant: JJ Prescott  Panel VIIB:       Corporate and Municipal Bankruptcy          Panel Chair: Vincent S.J. Buccola Antonio E. Bernardo, Alan Schwartz, and Ivo Welch, “Contracting Externalities and Mandatory Menus in the U.S. Corporate Bankruptcy Code” Discussant: Laura Napoli Cordes Antonio Falato and Nellie Liang, “Do Creditor Rights Increase Employment Risk? Evidence from Loan Covenants” Discussant: Kenneth Ayotte Vincent S.J. Buccola, “The Legislative Structure of Municipal Bankruptcy” Discussant: Frederick Tung Panel VIIC:      Property Law: Theory and Applications      Panel Chair: Lee Anne Fennell Yael R. Lifshitz, “Rethinking Original Ownership” Discussant: Henry E. Smith Ronit Levine-Schnur and Gideon Parchomovsky, “Is the Government Fiscally Blind? An Empirical Examination of the Effect of the Compensation Requirement on Eminent Domain Exercises” Discussant: Katrina Wyman Lee Anne Fennell, “Slicing Spontaneity” Discussant: Richard Brooks Panel VIID:       Antitrust: Vertical Interactions Panel Chair: Jonathan B. Baker Mika Kato, “Demand-enhancing Innovation” Discussant: Matthew L. Spitzer Louis Kaplow, “The Meaning of Vertical Agreement and the Structure of Competition Law” Discussant: Ian Ayres Jonathan B. Baker, “Evaluating Appropriability Defenses for the Exclusionary Conduct of Dominant Firms in Innovative Industries” Discussant: Keith N. Hylton Panel VIIE:       Empirical Work on Contracts Panel Chair: Yonathan A. Arbel Sarath Sanga, “The Contract Frontier: A Study of the Modern Joint Venture” Discussant: Charles Sabel Jean Beuve, Marian Moszoro, and Stéphane Saussier, “Political Contestability and Contract Rigidity: An Analysis of Procurement Contracts” Discussant: Lisa Bernstein Yonathan A. Arbel, “Contract Remedies in Action: Specific Performance” Discussant: Florencia Marotta-Wurgler Panel VIIF:      Products Liability      Panel Chair: Brian Libgober Andrzej Baniak and Peter Grajzl, “Controlling Product Risks when Consumers are Heterogeneously Overconfident: Producer Liability vs. Minimum Quality Standard Regulation” Discussant: Juanjo Ganuza Ezra Friedman, “The Value of A Statistical Judgment: A New Approach to the Insurer's Duty to Settle” Discussant: Sofia Amaral Garcia Brian Libgober and JJ Prescott “Accident Liability in Imperfect Markets” Discussant: Claude Fluet Panel VIIG:      Corporate Governance and Activism      Panel Chair: Kobi Kastiel Mira Ganor, “Why do Dual-Class Firms Have Staggered Boards?” Discussant: Steven Davidoff Stephen J. Choi, Jill E. Fisch, Marcel Kahan, and Edward B. Rock, “Does Majority Voting Improve Board Accountability?” Discussant: Ryan Bubb Kobi Kastiel, “Against All Odds: Shareholder Activism in Controlled Companies” Discussant: Richard Squire                                                                             Panel VIIH:      Cross Cutting Papers      Panel Chair: Lisa Larrimore Ouellette Ariel Porat and Omri Yadlin, “A Welfarist Perspective on Lies” Discussant: Avery Katz Scott Baker and Alex Raskolnikov, “Information, Strategy, and Optimal Responses to Legal Uncertainty” Discussant: Justin McCrary Jonathan S. Masur and Lisa Larrimore Ouellette, “Deference Mistakes” Discussant: Scott Baker 3:30 – 4:30:       Wine and Cheese Reception