The following Michigan Law faculty members are most closely associated with the Program in Law and Economics.
Laura N. Benylbeny@umich.edu
Professor Beny's research interests include law and economics, finance, political economy, development, and the Sudan.
Since joining the University of Michigan Law School in 2003, she has taught Corporate Finance, Enterprise Organization, International Finance, the Public Corporation, Law and Development, and an advanced seminar in law and finance. Before coming to Michigan, she practiced private and pro bono law at Debevoise & Plimpton, an international law firm based in New York City. Professor Beny earned her MA and PhD in economics at Harvard University, her JD at Harvard Law School, and her BA in economics at Stanford University.
Professor Beny's full faculty biography
Represenative publications and working papers:
Private Regulation of Insider Trading in the Shadow of Lax Public Enforcement (and a Strong Neighbor): Evidence from Canadian Firms. A.I. Anand, co-author. Working Paper, 2008.
"The Empirical Evidence on the Regulation of Insider Trading."
Ann. Rev. L. & Soc. Sci. (Forthcoming).
Co-author. "Metals or Management? Explaining Africa's Recent Economic Growth Spurt." L. D. Cook, co-author.
Am. Econ. Rev. 99, no. 2 (2009): 268-74.
"Insider Trading Laws and Stock Markets Around the World: An Empirical Contribution to the Theoretical Law and Economics Debate."
J. Corp. L. (Forthcoming). "Do Insider Trading Laws Matter? Some Preliminary Comparative Evidence (Symposium on Comparative Law and Economics)."
Am. L. & Econ. Rev. 7, no. 1 (2005): 144-83.
firstname.lastname@example.orgDan Crane is an expert on antitrust law and regulatory policy.
In addition to writing extensively about antitrust, intellectual property, and regulatory policy, he has testified before the Department of Justice and Federal Trade Commission, consulted on complex antitrust matters, and represented clients in merger, criminal cartel, class action, and monopolization cases. He has particular expertise on the economics of exclusionary practices (such as predatory pricing, bundled discounting, loyalty contracting, and tying arrangements), international and comparative aspects to competition law enforcement, and the institutional structure of antitrust law. He is a member of the American Antitrust Association's advisory council, an editor of the Antitrust Law Journal, and on the executive committee of the Association of American Law School's antitrust group.
Professor Crane's full faculty biography
Representative publications and working papers:
The Intellectual History of Competition Policy: Selected Readings. H. Hovenkamp, co-author. Oxford: Oxford Univ. Press, Forthcoming.
"Rethinking Merger Efficiencies."
Mich L. Rev. 110, no. 3 (2011): 347-91.
Co-author. "Toward a Unified Theory of Exclusionary Vertical Restraints." G. Miralles, co-author.
S. Cal. L. Rev. 84, no. 3 (2011): 605-60.
Antitrust, Antitrust and Intellectual Property, Comparative and International Competition Policy, Intellectual Property Workshop, Intellectual History of Competition Policy, Contracts
Steven P. Croleyscroley@umich.edu
Steven P. Croley is the Harry Burns Hutchins Collegiate Professor of Law and is currently on leave from Michigan Law.
He currently serves as Special Assistant to the President and Senior Counsel to the President in the Office of White House Counsel. He teaches and writes in the areas of administrative law, civil procedure, regulation, torts, and related subjects. His scholarly research appears in, among other places, the Administrative Law Journal, the Chicago Law Review, the Columbia Law Review, and the Harvard Law Review. His recent book, Regulation and Public Interests: The Possibility of Good Regulatory Government, is published by Princeton University Press.
Professor Croley's full faculty biography
Representative publications and working papers:
Regulating Systemic Risk: Proposing a Systemic Risk Control Commission. Tobin Project on Economic Regulation. Forthcoming.
"Post Public Choice Theories of Regulation." In
Handbook on Regulation. Elgar, Forthcoming.
"Interest Groups and Public Choice." In
Research Handbook on Public Choice and Public Law, edited by D. A. Farber and A. J. O'Connell, 49-87. Research Handbooks in Law and Economics. Cheltenham, UK: Edward Elgar Publishing, 2010.
Regulation and Public Interests: The Possibility of Good Regulatory Government. Princeton, N.J.: Princeton Univ. Press, 2008.
Professor Edward Fox teaches and writes on personal and business taxation. His research interests also include corporate and securities law.
His current working papers empirically study the effect of taxation on marriage, the incidence of the U.S. corporate income tax, and how Delaware incorporation may affect the value of firms with controlling shareholders, among other subjects. Professor Fox holds his JD from Yale Law School. He received a PhD in economics from the University of Michigan and his BA in history and economics,
magna cum laude, from Columbia University.
Professor Fox's full faculty biography
Is There a Delaware Effect for Controlled Firms?. NYU Law and Economics Research Paper No. 18-10. Working Paper.
Idiosyncratic Risk during Economic Downturns: Implications for the Use of Event Studies in Securities Litigation. Merritt B. Fox and Ronald J. Gilson, co-authors. Columbia Law and Economics Working Paper No. 453 and Stanford law and Economics Olin Working Paper No. 452. Working Paper.
"Alpha Duties: The Search for Excess Returns and Appropriate Fiduciary Duties." Ian Ayres, co-author.
Tex. L. Rev. 97, no. 3 (2019): 445-515.
"Economic Crisis and the Integration of Law and Finance: The Impact of Volatility Spikes." Merritt B. Fox and Ronald J. Gilson, co-authors.
Colum. L. Rev. 116 (2016): 325-407.
James R. Hines Jr.
email@example.comJames R. Hines Jr. is the L. Hart Wright Collegiate Professor of Law and codirector of the Law and Economics Program.
He is also the Richard A. Musgrave Collegiate Professor of Economics in the Department of Economics and serves as the research director of the Office of Tax Policy Research in the Stephen M. Ross School of Business. His research is focused on various aspects of taxation. Hines taught at Princeton and Harvard universities prior to joining the Michigan faculty in 1997, and has held visiting appointments at Columbia University, the London School of Economics, the University of California, Berkeley, and Harvard Law School. He is a research associate for the National Bureau of Economic Research, research director of the International Tax Policy Forum, co-editor of the Journal of Public Economics, and once, long ago, served as an economist in the U.S. Department of Commerce. He holds a BA and MA from Yale University and a PhD from Harvard, all in economics.
Professor Hines' full faculty biography
Who Offers Tax-Based Business Development Incentives? R. A. Felix, co-author. NBER Working Paper, no. 17466. Cambridge, MA: National Bureau of Economic Research, Working Paper.
Tax Policy and the Efficiency of U.S. Direct Investment Abroad. M. A. Desai and C. F. Foley, co-authors. NBER Working Paper, no. 17202. Cambridge, MA: National Bureau of Economic Research, Working Paper.
Value-Added Taxes and International Trade: The Evidence. M.A. Desai, co-author. Working Paper.
Understanding Tax Evasion Dynamics. E.Engel, co-author. NBER Working paper, no. 6903. Cambridge, MA: National Bureau of Economic Research, Working Paper.
Vikramaditya S. Khanna
firstname.lastname@example.orgVikramaditya Khanna is a professor of law and director of the Directors' College for Global Business & Law at Michigan Law School.
His interest areas include corporate and securities law, corporate crime, law in India, corporate governance in emerging markets, and law and economics. He is the founding and current editor of both the India Law Abstracts and the White Collar Crime Abstracts on the Social Science Research Network and is a term member of the Council on Foreign Relations. He has presented in the United States, India, China, Turkey, Brazil, and Greece.
Professor Khanna's full faculty biography
Firm-Level Corporate Governance in Emerging Markets: A Case Study of India. B.N. Balasubramanian and B.S. Black, co-authors. Univ. of Michigan Law & Economics, Olin Working Paper Series, no. 11. Working Paper 2008.
Corporate Defendants and the Protections of Criminal Procedure: An Economic Analysis. Univ. of Michigan Law & Economics, Olin Working Paper Series, no. 15. Working Paper 2004.
Toward an Economic Theory of Pro-Defendant Criminal Procedure. K. N. Hylton, co-author. Harvard Law School Center for Law, Economics, & Business Discussion Paper, no. 318. Working Paper.
"How Do Private Equity, Hedge Fund and Institutional Investors Utilize Corporate Governance Factors in Emerging Markets?" In
World Bank Publication. Forthcoming.
Co-author. "Corporate Governance, Enforcement, and Firm Value: Evidence from India." D.Dharmapala, co-author.
J. L. Econ. & Org. (Forthcoming).
Co-author. "Political Economy of Criminal Procedure." K. N. Hylton, co-author. In
Criminal Law and Economics, edited by N. Garoupa, 171-206. Encyclopedia of Law and Economics, 2nd ed., vol. 3. Cheltenham, UK: Edward Elgar Publishing, 2009.
"Corporate Criminal Liability: What Purpose Does it Serve?"
Harv. L. Rev. 109, no. 7 (1996): 1477-534. (Work published when author not on Michigan Law faculty.)
James E. Krier
email@example.comJames E. Krier, the Earl Warren DeLano Professor of Law, teaches property law.
His research interests focus on various applications of law and economics to property and other topics.
Professor Krier's full faculty biography
Property. 7th ed. J. Dukeminier et al., co-authors. New York: Aspen Pub., 2010.
"Evolutionary Theory and the Origin of Property Rights."
Cornell L. Rev. 95, no. 1 (2009): 139-59.
"The Rise of the Perpetual Trust." J. Dukeminier, co-author.
UCLA L. Rev. 50, no. 6 (2003): 1303-43.
Co-author. "Deterrence and Distribution in the Law of Takings." M. Heller, co-author.
Harv. L. Rev. 112, no. 5 (1999): 997-1025.
"Property Rules and Liability Rules: The Cathedral in Another Light." N. Y. U. L. Rev. 70, no. 2 (1995): 440-83.
Kyle D. Logue
Kyle D. Logue, the Wade H. and Dores M. McCree Collegiate Professor of Law, teaches courses in the areas of tax, tort, and insurance law.
His scholarly interests cut across many fields, including insurance law, tax policy, tort theory, risk regulation, distributive justice, and the economic analysis of legal rules and institutions. Professor Logue served as the Law School's associate dean for academic affairs from 2006 to 2008. He is a member of the American Law Institute and is currently the associate reporter for the ALI Principles of Liability Insurance Project.
Professor Logue's full faculty biography
"Coordinating Sanctions in Torts."
Cardozo L. Rev. 31, no. 6 (2010): 2313-64.
Co-author. "Of Coase, Calabresi, and Optimal Tax Liability." J. Slemrod, co-author. Tax L. Rev. 63, no. 4 (2010): 797-866.
Co-author. "Genes as Tags: The Tax Implications of Widely Available Genetic Information." J. Slemrod, co-author.
Nat'l Tax J. 61, no. 4 (2008): 843-63.
"Optimal Tax Compliance and Penalties When the Law is Uncertain."
Va. Tax Rev. 27, no. 2 (2007): 241-96.
"Tax Law Uncertainty and the Role of Tax Law Insurance."
Va. Tax Rev. 25, no. 2 (2005): 339-414.
"Reparations as Redistribution."
B. U. L. Rev. 84, no. 5 (2004): 1319-74.
"Legal Transitions, Rational Expectations, and Legal Progress."
J. Contemp. Legal Issues 13, no. 1 (2003): 211-60.
"Insuring Against Terrorism -- And Crime." S. Levmore, co-author.
Mich. L. Rev. 102, no. 2 (2003): 268-327.
Co-author. "Redistributing Optimally: Of Tax Rules, Legal Rules, and Insurance." R. Avraham, co-author.
Tax L. Rev. 56, no. 2 (2003): 157-257.
Co-author. "The First-Party Insurance Externality: An Economic Justification for Enterprise Liability." J. D. Hanson, co-author.
Cornell L. Rev. 76 (1990): 129-96. (Work published when author not on Michigan Law faculty.)
John A. E. Pottowpottow@umich.edu
John A.E. Pottow is an internationally-recognized expert in the field of bankruptcy and commercial law.
His award-winning scholarship concentrates on the issues involved in the regulation of cross-border insolvencies as well as consumer financial distress. Pottow's empirical research on the increasing incidence of elder Americans filing bankruptcy has been featured prominently in the national media and congressional hearings. Prior to joining the Law School faculty , he worked at several bankruptcy firms, including Weil, Gotshal and Manges of New York and the former Hill & Barlow of Boston. He holds an AB in psychology, summa cum laude, from Harvard College and a JD, magna cum laude, from Harvard Law School, where he served as treasurer of the Harvard Law Review.
Professor Pottow’s full faculty biography
Representative publications and working papers:
"Financial Literacy or Financial Castigation?"
Canadian Bus. L. J. 51, no. 3 (2011): 394.
"Ability to Pay."
Berkeley Bus. L. J. 8 Symposium Issue, 2011.
"The Rise in Elder Bankruptcy Filings and the Failure of U.S. Bankruptcy Law."
Elder L. J. 19, no. 1 (2011): 119-57.
"A New Role for Secondary Proceedings in International Bankruptcies."
Tex. Int'l L. J. 46 (2011): 579-99.
Co-author. "Did Bankruptcy Reform Fail? An Empirical Study of Consumer Debtors." R.M. Lawless et al., co-authors.
Am. Bankr. L.J. 82, no. 3 (2008): 349-405.
firstname.lastname@example.orgJ.J. Prescott, Professor of Law, is codirector of the Law and Economics Program. He employs sophisticated empirical methods and economic analysis to study the real-world consequences of law and, in particular, the effects that law and legal structures have on individual behavior.
His work focuses on criminal law and on civil litigation, particularly employment-related litigation. In addition to a number of on-going investigations into the unintended consequences of sex offender laws, his current projects include an empirical evaluation of the effects of prosecutor race and sex on charging and sentencing outcomes in New Orleans, a study of the socio-economic consequences of criminal record expungement using micro-level data from Michigan, and an analysis of the use of high-low settlement agreements in insurance litigation. He holds a Ph.D. in economics from MIT.
Professor Prescott's full faculty biography
Co-author. "Do Sex Offender Registration and Notification Laws Affect Criminal Behavior?" J. E. Rockoff, co-author.
J. L. & Econ. 54, no. 1 (2011): 161-206.
"Child Pornography and Community Notification: How an Attempt to Reduce Crime Can Achieve the Opposite."
Federal Sentencing Reporter, 24 (2011): 93-101.
"The Challenges of Calculating the Benefits of Providing Access to Legal Services."
Fordham Urb. L. J. 37, no. 1 (2010): 303-46.
Law and Economics Workshop, Economic Analysis of Law, Criminal Law, Employment Law
Adam C. Pritchard
email@example.comAdam C. Pritchard is the Frances and George Skestos Professor of Law at University of Michigan Law School.More…
He teaches corporate and securities law. His research focuses on securities class actions, securities arbitration, and the history of secruties law in the Supreme Court.
Professor Pritchard's full faculty biography
"The Supreme Court's Impact on Securities Class Actions: An Empirical Assessment of Tellabs." S.J. Choi, co-author.
J. Law, Econ. & Org. (forthcoming 2012).
"The Price of Pay to Play in Securities Class Actions." S.J. Choi and D.T. Johnson-Skinner, co-authors.
J. Empirical Legal Stud. 8, no. 4 (2011): 650-81.
"Attorneys as Arbitrators." S.J. Choi and J.E. Fisch, co-authors.
J. Legal Stud. 39, no. 1 (2010): 109-57.
Corporate and securities law
firstname.lastname@example.orgGabriel Rauterberg teaches Corporate Law, Capital Markets Regulation, and Contracts. His research interests include financial trading markets, empirical research in corporate law, and nonprofit organizations.
Current projects include an empirical examination of the tailoring of corporate governance arrangements in public companies, and a project with the economics and computer science departments exploring manipulation in algorithmic trading markets. Professor Rauterberg holds an honors bachelor of science degree from the University of Toronto and a JD from Yale Law School.
Professor Rauterberg's full faculty biography
Fair Settlements in Multidefendent Torts. S. Sanga, co-author. Columbia Business School Research Paper No. 15-96. Working Paper.
"Stock Market Manipulation and Its Regulation." Merritt B. Fox and Lawrence R. Glosten, co-authors.
Yale J. on Reg. 35, no. 1 (2018): 67-126.
"Informed Trading and Its Regulation." Merritt B. Fox and Lawrence R. Glosten, co-authors.
J. Corp. L. 43, no. 4 (2018): 817-98.
Veronica A. Santarosa
email@example.comProfessor Santarosa's research interests include law and economics, financial economic history, and law and development.
Her current projects examine, both empirically and theoretically, how legal innovations and political institutions affect firms and financial markets now and throughout history. Professor Santarosa holds a B.A. in economics from Ibmec Business School in Brazil, and LL.B. from teh University of Sao Paulo, an EMLE from the University of Hamburg, an LL.M. from Yale Law School, and is completing her Ph.D. in economics at Yale University.
Professor Santarosa's full faculty biography
Financing Long-Distance Trade without Banks: The Joint Liability Rule and Bills of Exchange in 18th Century France
The Quality of Contracting Institutions and the Choice of Ownership vs. Contract, Working Paper, 2011.
Law and the History of Economic Institutions of Capitalism
Professor Margo Schlanger has returned from a two-year leave during which she served as the presidentially appointed Officer for Civil Rights and Civil Liberties at the U.S. Department of Homeland Security.
She joined the Law School faculty in fall 2009, bringing her expertise in civil rights, prison reform, torts, and empirical legal studies to the Law School; she also heads the
Civil Rights Litigation Clearinghouse. Schlanger is a leading authority on civil rights issues and civil and criminal detention. She has served as chair of the Association of American Law Schools Section on Law and the Social Sciences. She earned her J.D. in 1993 from Yale Law School.
Professor Schlanger's full faculty biography
Co-author. "How Should We Study District Judge Decision-Making?" P. T. Kim, C. L. Boyd, and A. D. Martin, co-authors.
Wash. U. J.L. & Pol'y., 29 (2009): 83-112.
"Operationalizing Deterrence: Claims Management (In Hospitals, a Large Retailer, and Jails and Prisons)."
J. Tort L. 2, no. 1 (2008): Article 1, 1-50 (Work published when author not on Michigan Law faculty.)
"Hedonic Damages, Hedonic Adaptation, and Disability." S. R. Bagenstos, co-author.
Vand. L. Rev. 60, no. 3 (2007): 745-97 (Work published when author not on Michigan Law faculty.)
Sonja B. Starr
Sonja B. Starr joined the Law School faculty in fall 2009 and teaches first-year criminal law, international criminal law, and a seminar on the collateral consequences of criminal convictions.
Her research interests include prosecutorial conduct, sentencing law and policy, remedies for violations of criminal defendants' rights, and re-entry of ex-offenders. Professor Starr’s current projects center on quantitative empirical assessment of the effects of criminal justice policies and of racial and other disparities in the processing of criminal cases, using applied econometric methods. Her research on the effects of sealing criminal records (with Professor J.J. Prescott) is funded by a $145,000 grant from the National Science Foundation.
Professor Starr earned her J.D. from Yale Law School and her A.B. from Harvard, summa cum laude. She is also an alumna of the Inter-University Consortium for Political and Social Research Summer Program in Quantitative Methods.
Professor Starr’s full faculty biography
Racial Disparity in Federal Criminal Charging and its Sentencing Consequences. M.M. Rehavi, co-author. University of Michigan Law School Program in Law and Economics Working Paper Series no. 002. Working Paper 2012.
“Is Gender Disparity in the Federal Criminal Justice System a Problem?” (working paper, 2012, on file with author)
“The Effects of Sentencing Law Reform on Racial Disparity in Charging,” (working paper, 2012, on file with author, with M. Marit Rehavi).
"Sentence Reduction as a Remedy for Prosecutorial Misconduct."
Geo. L. J. 97, no. 6 (2009): 1509-66.
Mark D. West
firstname.lastname@example.org Mark D. West, associate dean for academic affairs and Nippon Life Professor of Law, is the director of the Japanese Legal Studies Program at the Law School.
Professor West is the author of multiple books on Japanese law and society, including Lovesick Japan: Sex/Marriage/Romance/Law (2011), and editor of The Japanese Legal System: Cases, Codes, and Commentary (2006). He has studied and taught at the University of Tokyo and Kyoto University, and has been a Fulbright Research Scholar, an Abe Fellow, and a fellow of the Japan Society for the Promotion of Science. Professor West earned his BA from Rhodes College and his JD from Columbia University School of Law, where he was notes and comments editor for the Columbia Law Review.
Professor West’s full faculty biography
Employment Market Institutions and Japanese Working Hours. Univ. of Michigan Law School, The John M. Olin Center for Law & Economics Working Paper Series, no. 03-016; Univ. of Michigan Public Law & Legal Theory Working Paper Series, no. 38. Working Paper 2003.
Dying to Get Out of Debt: Consumer Insolvency Law and Suicide in Japan. Univ. of Michigan Law School, The John M. Olin Center for Law & Economics Working Paper Series, no. 03-015. Working Paper 2003.
Japanese Love Hotels: Legal Change, Social Change, and Industry Change. Univ. of Michigan Law School, The John M. Olin Center for Law & Economics Working Paper Series, no. 02-018. Working Paper 2002.
The following faculty members are closely associated with the Program.
Martha J. Bailey
Michael S. BarrCharles BrownSara Heller
Barbara KoremenosKevin Quinn
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