It is well known that innovation law and policy must strike a balance between incentivizing inventions on the one hand, and granting monopolies to successful innovators on the other. In achieving this balance, it is commonly presumed that actors in innovation markets respond to their economic...

This book analyzes the effectiveness of the federal government's vacillating regulatory policy toward the cable television industry.

This book analyzes the effectiveness of the federal government's vacillating regulatory policy toward the cable television industry.

This article investigates whether television stations in small markets should be allowed to merge. The Federal Communications Commission prohibits such mergers. The FCC claims that such mergers will reduce the diversity of communications in small markets, and many commentators agree with the...

Given their long tenure and broad powers, Supreme Court Justices are among the most powerful actors in American politics. The nomination process is hard to predict and nominee characteristics are often chalked up to idiosyncratic features of each appointment. In this paper, we present a...

This article posits that attempts thus far to develop a consistent, principles theory of the duty of fair representation have not been successful. We do not deny that certain particularized rules of fairness derived from various sources can be generated and applied to particular cases. We do not...

In recent years, financial regulators have come under increasing judicial scrutiny for conducting inadequate cost/benefit assessments in advance of significant reforms. One facet of this scrutiny is judicial skepticism towards the proper role for regulatory experimentation (and the real option...

We provide new evidence on the returns to college majors and institutional selectivity. Using unique resume data, we devise new groupings of majors and use these to construct five measures that characterize majors. Applying these measures to the National Survey of College Graduates, we find that...

This paper presents a simple framework for analyzing a hierarchical system of judicial auditing. We concentrate on (what we perceive to be) the two principal reasons that courts and/or legislatures tend to scrutinize the decisions of lower-echelon actors: imprecision and ideological bias. In...

Behavioral Law and Economics has become an increasingly prominent field within legal scholarship, and most recently within the corporate area. A behavioral bias of particular relevance in corporate contexts is the differential between individuals' willingness to pay to obtain a legal entitlement...