PUBLICATIONS AND PAPERS
Listed below is a sampling of recently published papers and work in progress by members of the Associate Faculty of the Institute for Law and Economics. ILE maintains a series of research papers and provides copies—electronic or paper—to interested parties upon request to ile@law.upenn.edu. The Institute is a member of the Legal Scholarship Network (LSN), a subset of the Social Science Research Network. Current ILE research papers are posted in the University of Pennsylvania Law and Economics Research Paper Series on the LSN Web site. Abstracts as well as complete papers can be downloaded (www.ssrn.com/link/penn-lawecon.html). Faculty appointments are in the University of Pennsylvania Carey Law School unless otherwise noted. David Abrams, Professor of Law, Business Economics, and Public Policy
Cary Coglianese, Edward B. Shils Professor of Law and Professor of Political Science
The Law and Economics of Stop-and-Frisk, 46 Loy. L. Rev. 369 (2014).
The Regulator’s Handbook (Brookings Institution Press, forthcoming).
Tom Baker, William Maul Measey Professor of Law and Health Sciences
Who Wins, Who Loses: Inequality and the Distribution of Regulatory Impacts (Brookings Institution Press, forthcoming).
Uncertainty > Risk: Lessons for Legal Thought from the Insurance Runoff Market, __ B. C. L. Rev. __ (forthcoming 2020) (reviewed in Jotwell 6/2/2020). How Liability Insurers Protect Patients and Improve Safety (with C. Silver), 68 DePaul L. Rev. 209 (2019). Behavioral Economics, Decumulation, and the Regulatory Strategy for Robo Advice (with B. Dellaert), in The Disruptive Impact of Fintech on Retirement Systems, Olivia S. Mitchell, ed. (forthcoming 2019). Mutually Assured Protection Among Large U.S. Law Firms (with R. Swedloff), 24 Conn. Ins. L. J. 1 (2018). Regulating Robo Advice Across the Financial Services Industry (with B. Dellaert), 103 Iowa L. Rev. 713 (2018) (featured in the Harvard Law School Forum on Corporate Governance and Financial Regulation, April 5, 2017). In Defense of the Restatement of Liability Insurance Law (with K.Logue), 24 George Mason L. Rev. 767 (2017). William W. Bratton, Nicholas F. Gallicchio Professor of Law; Co-Director, Institute for Law and Economics Corporate Law and The Myth of Efficient Market Control (with S. Sepe), 105 Cornell L. Rev. __ (forthcoming 2020).
M aking Regulation Work: Improving the World Through Better Regulatory L aw and Policy (Edward Elgar, forthcoming). Deploying Machine Learning for a Sustainable Future, in Daniel Esty, ed., A Better Planet: Forty Big Ideas for a Sustainable Future (Yale University Press, forthcoming). Pledging, Populism, and the Paris Agreement: The Paradox of a Management-Based Approach to Global Governance, 34 Md. J. of Int’l L. 139 (2020). Dimensions of Delegation, 167 Univ. of Pa. L. Rev. 1849 (2019). Private Standards and the Benzene Case: A Teaching Guide (with G. Scheffler), 71 Admin. L. Rev. 355 (2019). Management-Based Regulation (with S. Starobin), in Kenneth R. Richards and Josephine van Zeben, eds., Policy Instruments in Environmental Law (Edward Elgar, forthcoming). Getting the Blend Right: Public-Private Partnerships in Risk Management, in Howard Kunreuther, Robert J. Meyer, and Erwann O. Michel-Kerjan, eds., The Future of Risk Management (Univ. of Pennsylvania Press, forthcoming). Transparency and Algorithmic Governance (with D. Lehr), 71 Admin. L. Rev. 1 (2019).
Collected Lectures and Talks on Corporate Law, Legal Theory, History, Finance, and Governance, 42 Seattle U. L. Rev. 756 (2019).
Optimizing Regulation for an Optimizing Economy, 4 Univ. of Pa. J. Law & Pub. Affairs 1 (2018).
The New Bond Workouts (with A. Levitin), 166 U. Pa. L. Rev. 1597 (2018).
The Contribution of the Social Sciences to Policy and Institutional Change (with ten co-authors), in International Panel on Social Progress, Rethinking Society for the 21st Century, 3: 843-882 (Cambridge University Press, 2018).
Corporate Finance: C ases and M aterials (8th ed., Foundation Press 2016). Howard F. Chang, Earle Hepburn Professor of Law The Economics of Immigration Reform, 52 UC Davis L. Rev. 111 (2018).
Improving Regulatory Analysis at Independent Agencies, 67 Am. U. L. Rev. 733 (2018) (Reprinted in Revista de Direito Administraivo 277:15-47 (2018)). Chevron’s Interstitial Steps, 85 Geo. Wash. L. Rev. 1339 (2017).
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What Congress’s Repeal Efforts Can Teach Us About Regulatory Reform (with G. Scheffler), 3 Admin. L. Rev. Accord 43 (2017). Style Matters: On the Role of Pattern Analysis in the Study of Regulation, in Thomas F. Burke and Jeb Barnes, eds., Varieties of Legal Order: The Politics of Adversarial and Bureaucratic Legalism 178-191 (Routledge, 2017).
Vincent Glode, Associate Professor of Finance, The Wharton School Over-the-Counter vs. Limit-Order Markets: The Role of Traders' Expertise (with C. Opp), 33 Rev. Fin. Stud. 866 (Feb. 2020). Voluntary Disclosure in Bilateral Transactions (with C. Opp and X. Zhang), 175 J. Econ. Th. 652 (May 2018).
Improving the Administrative State with Machine Learning (with D. Lehr), 42 Admin. & Reg. L. News 7 (2017).
Itay Goldstein, Joel S. Ehrenkranz Family Professor of Finance, The Wharton School
Regulating by Robot: Administrative Decision-Making in the Machine Learning Era (with D. Lehr), 105 Geo. L.J. 1147 (2017).
Monetary Stimulus and Bank Lending, (with I. Chakraborty & A. MacKinlay), J. of Fin. Econ. (forthcoming).
Jill E. Fisch, Saul A. Fox Distinguished Professor of Business Law; Co-Director, Institute for Law and Economics
Good Disclosure, Bad Disclosure (with L. Yang), 131:1 J. of Fin. Econ. 118 (Jan. 2019).
Shareholder Collaboration (with S. Sepe), 98 Tex. L. Rev. 683 (2020). Defined Contribution Plans and the Challenge of Financial Illiteracy (with A. Lusardi & A. Hasler). 105 Cornell L. Rev. __ (forthcoming 2020). The Uncertain Stewardship Potential of Index Funds in Global Shareholder Stewardship: Complexities, Challenges and Possibilities (Cambridge University Press, Dionysia Katelouzou & Dan W. Puchniak eds., forthcoming 2020). The New Titans of Wall Street: A Theoretical Framework for Passive Investors (with A. Hamdani & S. Davidoff Solomon), 168 U. Pa. L. Rev. 73 (2019) — selected by the Corporate Practice Commentator as one of the Top Ten Corporate and Securities Articles of 2019. Mootness Fees (with M. Cain, S. Davidoff Solomon & R. Thomas), 72 Vand. L. Rev. 1777 (2019). Centros, California’s “Women on Boards” Statute and the Scope of Regulatory Competition (with S. Davidoff Solomon), 20 Eur. Bus. Org. L. Rev. 493 (2019). The Problem of Sunsets (with S. Davidoff Solomon), 99 B.U. L. Rev. 1057 (2019). The Myth of Morrison: Securities Fraud Litigation Against Foreign Issuers (with R. Bartlett & S. Davidoff Solomon), 74 Bus. Law. 1967 (2019). Is Sustainability Disclosure Sustainable?, 107 Geo. L. J. 923 (2019). Boilermakers and the Contractual Approach to Litigation Bylaws in The Corporate Contract In Changing Times: Is the Law Keeping Up? (U. Chi. Press, William Savitt, Steven Davidoff Solomon, Randall Thomas eds., 2019). The Emergence of the Robo Adviser (with M. Labouré and J. Turner), The Disruptive Impact of FinTech on Retirement Systems (Oxford Univ. Press, Oliva S. Mitchell, ed., 2019). Governance by Contract: The Implications for Corporate Bylaws, 106 Cal. L. Rev. 373 (2018) – selected by the Corporate Practice Commentator as one of the Top Ten Corporate and Securities Articles of 2018. The Logic and Limits of Event Studies in Securities Fraud Litigation (with J. Klick and J. Gelbach), 96 Tex. L. Rev. 553 (2018) – selected by the Corporate Practice Commentator as one of the Top Ten Corporate and Securities Articles of 2018.
Government Guarantees and Financial Stability (with F. Allen, E. Carletti & A. Leonello), 177 J. of Econ. Th. 518 (Sept. 2018). Stress Tests and Information Disclosure (with Y. Leitner), 177 J. of Econ. Th. 34 (Sept. 2018). Housing Price Booms and Crowding-Out Effects in Bank Lending (with I. Chakraborty & A. MacKinlay), 31:7 Rev. Fin. Stud. 2806 (July 2018). Investor Flows and Fragility in Corporate Bond Funds (with H. Jiang & D. Ng), 126:3 J. of Fin. Econ. 592 (Dec. 2017). Incentives for Information Production in Markets where Prices Affect Real Investment (with J. Dow & A. Guembel), 15:4 J. of Eur. Econ. Assoc. 877 (Aug. 2017). Lawrence A. Hamermesh, Executive Director, Institute for Law & Economics, and Professor Emeritus, Widener University Delaware Law School (Senior Special Counsel, Securities and Exchange Commission Division of Corporation Finance, 2010–2011) A Babe in the Woods: An Essay on Kirby Lumber and the Evolution of Corporate Law, __ Del. J. Corp. L. __(forthcoming 2020). Delaware Corporate Fiduciary Law: Searching for the Optimal Balance (with L. Strine, Jr.), in Oxford Handbook of Fiduciary L aw (Oxford Univ. Press, Evan J. Criddle, Paul B. Miller, and Robert H. Sitkoff, eds., 2019). The Role of Directors in M&A Transactions: A Governance Handbook for Directors, Management and Advisors (co-editor, with D. Frankle, M. Halloran and P. Vella), ABA Business Law Section (2019). Finding the Right Balance in Appraisal Litigation: Deal Price, Deal Process, and Synergies (with M. Wachter), 73 Bus. Law 961 (Fall 2018). Lyman Johnson’s Invaluable Contribution to Delaware Corporate Jurisprudence (with J. Jacobs), 74 Wash. & Lee L. Rev. 909 (2017). The Importance of Being Dismissive: The Efficiency Role of Pleading Stage Evaluation of Shareholder Litigation (with M. Wachter), 42 J. Corp. L. 597 (2017). Richard J. Herring, Jacob Safra Professor of International Banking, Professor of Finance, The Wharton School; Co-Director, Wharton Financial Institutions Center International Coordination of Supervision: Why has it Grown? Will it be sustained? 10:2 J. Fin. Econ. Pol. 213 (July 2018).
