John M. Olin Program in Law and Economics

Prof. Mahoney with a student

Law professor Julia Mahoney (right) spoke with students about her paper,
“Perpetual Restrictions on Land and the Problem of the Future.”

John M. Olin Conference: The Law and Economics of Organizations

Friday and Saturday, February 24-25, 2006
Caddell Conference Room, Third Floor of Slaughter Hall
Contact: Joyce Holt

Both legal and economic scholars have critically examined various aspects of modern organization since Coase's seminal article on the theory of the firm in 1937, including: an organization's economic and legal boundary, its hierarchical structure, incentive and promotion within an organization, and control within and across organizations. This conference aims to bring together scholars from the allied fields to examine the recent developments in the field and also to provide a more holistic view of the modern organization theory.

PRELIMINARY SCHEDULE

FRIDAY, FEBRUARY 24, 2006
8:30 am Continental breakfast at the law school
9:00 am Introductory remarks
Albert Choi, University of Virginia School of Law
9:15 am The Role of Law in the Organization of the Firm
Author: Henry Hansmann, Yale Law School
Discussants: Edward Iacobucci, University of Toronto Law School; Barak Richman, Duke Law School
10:45 am Break
11:00 am Ownership vs. Contract: How Vertical Integration Affects Investment Decisions in Pharmaceutical R&D
Author: Ilan Guedj, McCombs School of Business, University of Texas
Discussants: David Smith, University of Virginia School of Commerce; William Wilhelm, University of Virginia School of Commerce
1:45 pm A Capital-Structure Theory of Firm Boundaries
Authors: Edward Iacobucci, University of Toronto Law School
George Triantis, University of Virginia School of Law
Discussants: Richard Brooks, Yale Law School; Henry Hansmann, Yale Law School
3:15 pm Break
3:30 pm When Should Control Be Shared?
Author: Ravi Singh, Harvard Business School
Discussants: Kenneth Ayotte, Columbia Business School;
Alan Morrison, Oxford Business School

SATURDAY, FEBRUARY 25, 2006
8:30 am Continental breakfast at the law school
9:00 am The Organization of Specialization: Knowledge Based Production
Author: Thomas Hubbard, Kellogg School of Management (with Luis Garicano)
Discussants: Paul Mahoney, University of Virginia School of Law; William Johnson, University of Virginia Economics Department
10:30 am Break
10:45 am The Demise of Investment Banking Partnerships: Theory and Evidence
Authors: Alan Morrison, Oxford Business School
William Wilhelm, University of Virginia School of Commerce
Discussants: Michal Barzuza, University of Virginia Law School; Ilan Guedj, McCombs School of Business, University of Texas
12:15 pm Buffet lunch in the law school faculty lounge