John M. Olin Conference on Law and Economics of Consumer Credit
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.”

The John M. Olin Conference: Law and Economics of Consumer Credit

Friday and Saturday, February, 22-23, 2008
All sessions will be held in room WB128.
Contact: Joyce Holt

Dramatic and controversial changes have occurred in both consumer lending markets and the laws that regulate these markets. This conference brings together scholars in the fields of law, economics, and finance to discuss some of the pressing issues that have emerged from the recent changes with an aim to better evaluate various legislative proposals that have been proposed in response. Papers cover a range of topics from payday lending to subprime mortgage to consumer bankruptcy.

Print Version

8:30 am Continental breakfast at the Law School
9:00-10:00 am

Time Inconsistency in the Credit Card Market
Author: Lawrence Ausubel, University of Maryland Economics Department
(Co-author: Haiyan Shui)

Discussant: David Musto, University of Pennsylvania Wharton School
10:00-11:00 am Non-Judicial Debt Collection and Informal Bankruptcy
Author: Amanda Dawsey, University of Montana Economics Department
(Co-authors: Lawrence Ausubel, Richard Hynes)
Discussant: John Pottow, University of Michigan Law School
11:00 am Break
11:15 am–12:15 pm

The Age of Reason: Financial Decisions over the Lifecycle
Author: John C. Driscoll, Economist, Federal Reserve Board
(Co-authors: Sumit Agarwal, John Driscoll, Xavier Gabaix, David Laibson)

Discussant: Paul Mahoney, University of Virginia School of Law
1:30-2:30 pm Payday Lenders: Heroes or Villains?
Author: Adair Morse, University of Chicago Graduate School of Business Finance
Discussant: Edward Morrison, Columbia University Law School
2:30 pm Break
2:45–3:45 pm   Do Payday Loans Cause Bankruptcy?
Author: Paige Skiba, Vanderbilt University Law School
(Co-author: Jeremy Tobacman)
Discussant: Carola Schenone, University of Virginia McIntire School of Commerce
8:15 am Continental breakfast at the Law School
8:45-9:45 am The Law, Economics and Psychology of Subprime Mortgage Contracts
Author: Oren Bar-Gill, New York University Law School
Discussant: Kevin Kordana, University of Virginia School of Law
9:45-10:45 am Saving Your Home in Bankruptcy
Author: Michele White, University of California at San Diego Economics Department
(Co-author: Ning Zhu)
Discussant: Richard Hynes, University of Virginia School of Law
10:45-11:45 am The Inefficiency of Refinancing
Author: Christopher Mayer, Columbia Business School Milstein Center for Real Estate
(Co-authors:  Tomasz Piskorski, Alexi Tschisty)
Discussant: David C. Smith, University of Virginia McIntire School of Commerce
11:45 am Buffet lunch in the Law School faculty lounge