One of the key questions in the study of regulation is whether the costs of regulatory compliance fall homogeneously on all businesses or whether certain firms, for instance small ones, are especially penalized. We quantify firms' compliance costs in terms of their labor spending to adhere to...

This paper uses occupational employment and wage data for over 270 industries from 1990 to 2017 to estimate the percentage of an industry’s annual labor costs paid to perform regulation-related tasks. We hypothesize that this measure reflects the intensity of regulations that incentivize firm...

One of the key questions in the study of regulation is whether the costs of regulatory compliance fall homogeneously on all businesses or whether certain firms, for instance small ones, are especially penalized. We quantify firms’ compliance costs in terms of their labor spending to adhere to...

We investigate whether economic conditions at labor market entry predict long-term differences in law graduate earnings. We find that unemployment levels at graduation continue to predict law earnings premiums within 4 years after graduation for earners at the high end and middle of the...

One of the key questions in the study of regulation is whether the costs of regulatory compliance fall homogeneously on all businesses or whether certain firms, for instance small ones, are especially penalized. We quantify firms' compliance costs in terms of their labor spending to adhere to...

The traditional view in corporate governance, shareholder primacy, holds that boards and executives should manage corporations with a single-minded focus on increasing financial returns to shareholders. By contrast, advocates of Environmental, Social and Governance (ESG) criteria and stakeholder...

This is a a slide presentation accompanying "Pigouvian Contracts" available at http://ssrn.com/abstract=4019686Pigouvian taxes are often used to limit environmental externalities such as pollution. We argue that consumer contracts generate externalities by overwhelming consumers’ attention....

Accompanying slide presentation available at http://ssrn.com/abstract=4019705Pigouvian taxes are often used to limit environmental externalities such as pollution. We argue that consumer contracts generate externalities by overwhelming consumers’ attention. Depleting each consumer’s...

The U.S. economy is growing more slowly than it can and should be growing because it does not invest enough in infrastructure, science, and education. There is an important procedural obstacle to funding public investments — a process of scoring the economic effect of legislation. This process...

Contract law treats consumer attention as if it were unlimited. We instead view consumer attention as a scarce resource that must be conserved. We argue that consumer contracts generate negative externalities by overwhelming consumers with information that depletes their attention and prevents...