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the Institut d’Analisi Economica in Barcelona, Spain, Professor Faulhaber engaged in political economy research. He held an appointment at Tsinghua University School of Economics and Management, Beijing, China, as a Visiting Professor, where he lectured on technology management. His current research is in the area of public policy and broadband infrastructure for the Internet, and the use of markets and property rights for the allocation of the electromagnetic spectrum. Michael A. Fitts Dean of the Law School and Bernard G. Segal Professor of Law Michael A. Fitts was named Dean of the Law School in March 2000. Before joining the Penn Law faculty in 1985, Dean Fitts served as clerk to the Honorable A. Leon Higginbotham, Jr., U.S. Court of Appeals for the Third Circuit, and as attorney advisor in the Office of Legal Counsel in the U.S. Department of Justice. At Penn he was appointed Associate Professor of Law in 1990, Professor of Law in 1992 and Robert G. Fuller, Jr. Professor of Law in 1996. From 1996 to 1998 he served as Associate Dean for Academic Affairs at the Law School and was active in establishing a variety of joint programs with other schools within the University. In 1999 he served as Visiting Professor in Political Science at Swarthmore College. Dean Fitts’s current research focuses on the effect of various structural changes (e.g., stronger political parties, presidents or centralized legal institutions) on government budgeting and legislation. He has authored numerous law review and political science articles in this area, several co-authored with political scientists. Lawrence A. Hamermesh Ruby R. Vale Professor of Corporate and Business Law Widener University School of Law Professor Hamermesh received a B.A. from Haverford College in 1973, and a J.D. from Yale Law School in 1976. Professor Hamermesh practiced law with Morris, Nichols, Arsht & Tunnell, Wilmington, Delaware, as an associate from 1976–84, and as a partner from 1985–94. Professor Hamermesh joined the faculty at Widener in 1994, and teaches and writes in the areas of corporate finance, mergers and acquisitions, securities regulation, business organizations, and professional
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responsibility. Since 1995, Professor Hamermesh has been a member of the Council of the Corporation Law Section of the Delaware State Bar Association, which is responsible for the annual review and modernization of the Delaware General Corporation Law, and served as Chair of the Council from 2002 to 2004. In 2002 and 2003 he also served as the Reporter for the American Bar Association’s Task Force on Corporate Responsibility. He served from 2001 to 2007 as a member of the Committee on Corporate Laws of the American Bar Association Section of Business Law, which supervises the drafting of the Model Business Corporation Act. In 2007 Professor Hamermesh was appointed as Chair of the Corporate Practice Committee of the Section of Business Law. In 1999 Professor Hamermesh was elected as a member of the American Law Institute. Professor Hamermesh is also a member of the Board of Directors of ACLU Delaware, Inc., and represents that organization on the National Board of the ACLU.
Outside the university, he is cochair of the US Shadow Financial Regulatory Committee. He is a member of the Financial Economist’s Roundtable, the Advisory Board of the European Banking Report in Rome and the Institute for Financial Studies in Frankfurt. He served as co-chair of the Multinational Banking seminar from 1992–2004 and was a Fellow of the World Economic Forum in Davos from 1992–95. He was a member of the recent Group of 30 task force on the reinsurance industry and as well as an earlier study group on international supervision and regulation. Currently, he is an independent director of the DWS Scudder mutual fund complex and has served on the predecessor Deutsche Asset Management and Bankers Trust boards since 1990. Herring received his undergraduate degree from Oberlin College in 1968 and his PhD from Princeton University in 1973. He has been a member of the Finance Department since 1972. He is married, with two children, and lives in Bryn Mawr, Pennsylvania.
Richard J. Herring Jacob Safra Professor of International Banking, Professor of Finance The Wharton School Co-Director, Wharton Financial Institutions Center Richard J. Herring is Jacob Safra Professor of International Banking and Professor of Finance at The Wharton School, University of Pennsylvania where he is also founding director of The Wharton Financial Institutions Center, one of Wharton’s largest research centers. From 2000 to 2006, he served as the Director of the Lauder Institute of International Management Studies and, from 1995 to 2000, he served as Vice Dean and Director of Wharton’s Undergraduate Division. During 2006, he was a Professorial Fellow at the Reserve Bank of New Zealand and Victoria University. He is the author of more than 90 articles, monographs and books on various topics in financial regulation, international banking and international finance. At various times his research has been funded by grants from the National Science Foundation, the Ford Foundation, the Brookings Institution, the Sloan Foundation and the Council on Foreign Relations.
Robert W. Holthausen The Nomura Securities Company Professor, Professor of Accounting and Finance and Management, and Chairman, Accounting Department The Wharton School Professor Holthausen earned his doctorate and his M.B.A. at the University of Rochester. Prior to his academic career, he was a C.P.A. He worked at Price Waterhouse and was also a financial analyst with Mobil. He was on the accounting and finance faculty at the Graduate School of Business of the University of Chicago for ten years, joining the Penn faculty in 1989. During the 2001–2002 academic year, he was a visiting professor at Harvard Business School. Since 1998 he has served as the academic director of Wharton’s Mergers and Acquisitions program. Professor Holthausen’s research interests include the effects of management compensation and governance structures on firm performance, the effects of information on volume and prices, corporate restructuring and valuation, the effects of large block sales on common stock prices, and numerous other topics. He is widely published in both finance and accounting journals and is currently an editor of the Journal of Accounting and Economics.
Robert P. Inman Richard King Mellon Professor; Professor of Finance, Economics, Business and Public Policy, Real Estate The Wharton School Professor Inman received his Ph.D. in economics from Harvard University and joined the Penn faculty in 1972. He is a senior fellow of Wharton’s Leonard Davis Institute of Health Economics. He is also a research associate of the National Bureau of Economic Research. He has served as a consultant to the city of Philadelphia, the state of Pennsylvania, CitiGroup, Chemical Bank, the U.S. Department of the Treasury, the Financial and Fiscal Commission of the Republic of South Africa, the National Bank of Sri Lanka, the National Academy of Sciences, and numerous U.S. federal government agencies. His research is currently focused on fiscal federalism, the urban fiscal crisis, and the political and legal institutions of fiscal policymaking. Professor Inman held the Florence Chair in Economics at the European University Institute, Florence, Italy, for the spring quarter of 2000. He will be a Visiting Scholar at the Rockefeller Foundation’s Bellagio Study Center for the fall 2007 semester. Jason Scott Johnston Robert G. Fuller Jr. Professor of Law and Director, Program on Law, the Environment and the Economy After graduating summa cum laude from Dartmouth College, Professor Johnston obtained both his J.D. and Ph.D. in economics from the University of Michigan, where he was an Alcoa Fellow in Law and Economics and was elected to Order of the Coif. He served as law clerk for United States Court of Appeals Judge Gilbert Merritt, was a civil liability fellow at Yale Law School, and in 1995 came to the University of Pennsylvania Law School from Vanderbilt University Law School. Johnston is the founding Director of the Program on Law and the Environment at Penn Law School, and in 2001 became the Robert G. Fuller Jr. Professor of Public Law. Professor Johnston’s research includes both theoretical and empirical projects exploring various aspects of natural resource and environmental law and policy, as well as more general studies of legal rights and entitlements. He is currently in the midst of book-length projects on the law and economics of
corporate environmentalism and the centralization of environmental and natural resource regulation, and is organizing a first-of-its kind interdisciplinary conference on the law, economics and science of liability for global warming. Johnston has published dozens of articles, both in various major American law journals such as the Yale Law Journal, Virginia Law Review and Columbia Law Review, as well as in peer-reviewed economics journals such as the Journal of Law, Economics and Organization, and the Journal of Legal Studies. He has served as a Regent for the Policy Academy of the Multistate Working Group on Environmental Management Systems, on the Board of Directors of the American Law and Economics Association and on the National Science Foundation’s Law and Social Science grant review panel. He was an Olin Visiting Fellow at the University of Southern California Law Center and Visiting Professor at the University of Virginia School of Law. In Fall 2007, he will be in residence as the Bosch Public Policy Fellow at the American Academy of Berlin. Leo Katz Frank Carano Professor of Law Professor Katz graduated from the University of Chicago College and Law School. He then clerked for the Honorable Anthony M. Kennedy, at that time on the U.S. Court of Appeals for the Ninth Circuit, and he practiced corporate law for several years with Mayer, Brown and Platt in Chicago. He began teaching at the University of Michigan in 1987 and joined the Penn faculty in 1991. Professor Katz teaches and writes about both criminal and corporate law. He is the author of Bad Acts and Guilty Minds: Conundrums of the Criminal Law and Ill-Gotten Gains: Evasion, Blackmail, Fraud and Kindred Puzzles of the Law, and editor (with Michael Moore and Stephen Morse) of Foundations of the Criminal Law. He is currently working on another book, Why the Law Is So Perverse. Richard E. Kihlstrom Ervin Miller-Arthur M. Freedman Professor of Finance and Economics Chairman, Finance Department The Wharton School Richard Kihlstrom holds a doctorate from the University of Minnesota. He has been a member of the Wharton faculty since 1979, was named to the Miller-Freedman professorship in 1986, and previously served as Chair of the
Finance Department from 1988 to 1994. Before coming to Penn, he taught at Northwestern University, the University of Illinois, the State University of New York at Stony Brook, and the University of Massachusetts. He is a Fellow of the Econometric Society. His areas of research interest include information and uncertainty in economics, financial market equilibrium, and corporate finance Michael S. Knoll Theodore K. Warner Professor of Law Professor of Real Estate The Wharton School Professor Knoll joined the Penn Law and Wharton faculties from the University of Southern California Law School in 2000. He teaches courses in corporate finance and taxation in the Law School, the Wharton School, and the Wharton Executive Program. He is also an affiliate of the Zell/Lurie Real Estate Center at the Wharton School, and the editor of Forensic Economic Abstracts, an electronic journal published by the Social Science Research Network. Professor Knoll’s undergraduate and J.D. degrees are from the University of Chicago. He also earned a Ph.D. in Economics at the University of Chicago. In 1990 he joined the USC Law faculty as an Assistant Professor, and in 1995 he was promoted to full Professor. He has been a Visiting Professor of Law at Georgetown (1999), Penn (1998–99), and Virginia (2000). Professor Knoll was also a John M. Olin Senior Research Scholar at Columbia University School of Law (1996–97), a Visiting Scholar at New York University Law School (1996–97), and a John M. Olin Distinguished Visiting Professor of Law at Toronto University. He clerked for the Honorable Alex Kozinski on the U.S. Court of Appeals, Ninth Circuit, from January to August 1986, when he was appointed legal advisor to the Vice Chairman of the U.S. International Trade Commission. He has published extensively in the fields of corporate finance, taxation, economics, and real estate finance.
Friedrich K. Kübler Professor and Director of the Banking Law Institute Emeritus, University of Frankfurt, Germany; Professor of Law After earning a Dr. iur. from the University of Tübingen in 1961, Professor Kübler held appointments as teaching assistant in Tübingen and Paris; Professor of Law, University of Giessen (1966–70); Visiting Lecturer, Harvard Law School (1968–69); Professor of Law and Dean of the Graduate School of Social Sciences, University of Konstanz (1971–76); and Professor of Law, University of Frankfurt (1976–98). He first came to Penn in 1975 and again in 1983 as a Visiting Professor of Law, and in 1985 he joined the faculty as Professor of Law. He has served on the board of the Deutscher Juristentag and is a member of the American Law Institute. He was one of the six commissioners regulating concentration in the German television industry and is a member of the European Shadow Financial Regulatory Committee as well as of the Frankfurt Academy of Arts and Sciences. Professor Kübler’s teaching interests are the European Union, corporations, international finance, and mass communication. His current (comparative) research interests are in the areas of corporate governance and finance, the supervision of transnational financial markets, and broadcast regulation. Peter D. Linneman Albert Sussman Professor of Real Estate, Finance, and Public Policy The Wharton School Dr. Linneman, a member of the Wharton faculty since 1979, also serves as a strategic advisor to the Lubert-Adler Realty Funds. He also currently serves as a Director of one New York Stock Exchange firm and several privately held firms. Dr. Linneman was the Chairman of the Board of Rockefeller Center Properties, Inc. He was Senior Managing Director of Equity International Properties and a Managing Director and Vice Chairman of the Investment Committee of Amerimar Realty. He is an Urban Land Institute Research Fellow and a member of numerous professional organizations. Since 1987, Dr. Linneman has been Albert Sussman Professor of Real Estate, Finance and Public Policy at Wharton; he also served as the Director of the Wharton Real Estate Center for 13 years and was the found-
ing Chairman of the Real Estate Department. He is one of the founding co-editors of The Wharton Real Estate Review. Dr. Linneman received both his master’s degree and doctorate in economics from the University of Chicago, and he is a graduate of Ashland University. Kristin Madison Assistant Professor of Law Professor Madison received a J.D. from Yale Law School in 2000 and a Ph.D. in economics from Stanford University in 2001. She joined the Penn Law faculty in 2001 and currently teaches contracts and health care law. Her main areas of research interest are health economics and the regulation of the health care industry. Professor Madison is currently studying the diffusion of new forms of health care regulation, particularly health care quality reporting requirements. George J. Mailath Walter H. Annenberg Professor in the Social Sciences Professor of Economics School of Arts and Sciences Professor Mailath received his Ph.D. in economics from Princeton University in 1985. He is currently an associate editor of Econometrica, serves on the editorial board of Games and Economic Behavior, and is on the executive board of Theoretical Economics. His research interests include the organization of the firm, noncooperative game theory, evolutionary game theory, social norms, and the foundations of reputations, law, and authority. Andrew Metrick Associate Professor of Finance, The Wharton School Andrew Metrick is an associate professor of finance at the Wharton School of the University of Pennsylvania and a faculty research fellow at the National Bureau of Economic Research. He joined Wharton in 1999 after spending five years on the faculty of the Harvard economics department. He is the author of Venture Capital & the Finance of Innovation (Wiley, 2006), and he teaches a course of the same name to MBAs and undergraduates. He has been recognized with several teaching awards and been named by BusinessWeek as one of the best teachers at Wharton.
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