Kimberly D. Krawiec

  • Sullivan and Cromwell Professor of Law
Kimberly Krawiec’s current research analyzes “taboo trades” — exchanges that are contested by society and, in some cases, forbidden altogether. She has written on commercial surrogacy, egg and sperm markets, and sex work. At the moment, much of her work is on incentives for organ donation. Although financial incentives are part of the menu, she is most interested in nonfinancial incentives, such as kidney swaps, NEAD chains and priority systems that provide an incentive to donate. 
Another area of her research centers on the regulation of financial markets and business organizations. Krawiec has extensively examined the administrative process surrounding the Volcker Rule, a complex and highly contested provision of the Dodd-Frank Act. She has also researched corporate boards of directors. Through an ethnographic method, this work analyzes directors’ views on the workings of the corporate boardroom and board relations with management, with a special emphasis on directors’ views on race and gender diversity in the boardroom.  
Prior to joining academia, Krawiec was a member of the commodity and derivatives group at the New York office of Sullivan & Cromwell. She has served as a commentator for the Central European and Eurasian Law Initiative (CEELI) of the American Bar Association and on the faculty of the National Association of Securities Dealers Institute for Professional Development at the Wharton School of Business. She earned her juris doctorate from Georgetown University and a bachelor’s degree from North Carolina State University.
Krawiec also has taught law at Duke Law School, the University of North Carolina, Harvard and Northwestern, where she received the 1999-2000 Robert Childres Award for Teaching Excellence.


  • J.D.
    Georgetown University Law Center
  • B.A.
    North Carolina State University


Organ Entrepreneurs, in The Cambridge Handbook of Law and Entrepreneurship (D. Gordon Smith and Christine Hurt eds., forthcoming) (with Kieran Healy)

Works in Progress:

The Danger of Difference: How Corporate Directors Talk About Diversity (January 1, 2020) (with others)


Policy Shock: Recalibrating Risk and Regulation After Oil Spills, Nuclear Accidents, and Financial Crises  (Cambridge University Press, 2017) (editor with Edward Balleisen, Lori Bennear & Jonathan B. Wiener)

Articles and Essays:

Kidney Donation and the Consent of the Poor, 66 Loyola Law Review 23-32 (2020) (with Philip J. Cook)

Kidneys Without Money, 175 Journal of Institutional and Theoretical Economics 4-19 (2019)

Let’s Talk: What FinReg Can Learn From New Governance (And Vice Versa), 44 Law and Social Inquiry 1241-1250 (2019)

Complete Chain of the First Global Kidney Exchange Transplant and 3-yr Follow-up, 4 European Urology Focus 190-197 (2018) (with others)

Does Contract Law Need Morality?, 9 William & Mary Business Law Review 435-448 (2018) (with Wenhao Liu)

Foreword: Altruism, Community, and Markets, 81 Law and Contemporary Problems 1-8 (No. 3  2018) (with others)

Global Kidney Exchange: An International Approach to Expanding Living Donor Kidney Transplantation in Minority Groups, 199 The Journal of Urology e548 (2018) (with others)

If We Allow Football Players and Boxers to Be Paid for Entertaining the Public, Why Don't We Allow Kidney Donors to Be Paid for Saving Lives?, 81 Law and Contemporary Problems 9-35 (No. 3  2018) (with Philip J. Cook)

If We Pay Football Players, Why Not Kidney Donors?, 41 Regulation 12-17 (2018) (with Philip J. Cook)

Contract Development in a Matching Market: The Case of Kidney Exchange, 80 Law & Contemporary Problems 11-35 (No. 1 2017) (with others)

Foreword, 80 Law and Contemporary Problems 1-5 (No. 4 2017) (with Doriane Lambelet Coleman)

Foreword: How to Think About Law and Markets, 80 Law & Contemporary Problems 1-9 (No. 1 2017) (with Joseph Blocher)

Introduction to the Law and Markets: Regulating Controversial Exchange, 54 Osgoode Hall Law Journal 333-338 (2017) (with others)

Kidney Exchange to Overcome Financial Barriers to Kidney Transplantation, 17 American Journal of Transplantation 782-790 (2017) (with others)

Repugnance Management and Transactions in the Body, 107 American Economic Review: Papers & Proceedings 1-5 (2017) (with Kieran Healy)

Is Informed Consent Enough?, 16 American Journal of Transplantation 1038 (2016) (with others)

Diversity and Talent at the Top: Lessons From the Boardroom, in Diversity in Practice: Race, Gender, and Class in Legal and Professional Careers 37-80 (Spencer Headworth et al eds., 2016) (with others)

Lessons from Law About Incomplete Commodification in the Egg Market, 33 Journal of Applied Philosophy 160-177 (2016)

How Can the Shortage of Kidneys for Transplantation be Rectified?  Medical Law Perspectives (July 2015) (with Philip J. Cook)

Markets, Morals, and Limits in the Exchange of Human Eggs, 13 Georgetown Journal of Law & Public Policy 349-365 (2015)

The Volcker Rule: A Brief Political History, 10 Capital Markets Law Journal 507-522 (2015) (with Guangya Liu)

A Difficult Conversation: Corporate Directors on Race and Gender, 26 Pace International Law Review 13-22 (2014) (with others)

A Primer on Kidney Transplantation: Anatomy of the Shortage, 77 Law & Contemporary Problems 1-23 (No. 3 2014) (with Philip J. Cook)

Foreword: Organs and Inducements, 77 Law & Contemporary Problems i-vii (No. 3 2014) (with Philip J. Cook)

Kamakahi v. ASRM: The Egg Donor Price Fixing Litigation, 16 AMA Journal of Ethics (formerly Virtual Mentor) 57-62 (2014)

Reverse Transplant Tourism, 77 Law & Contemporary Problems 145-173 (No. 3 2014) (with Michael A. Rees)

Agency Lobbying and Financial Reform: A Volcker Rule Case Study, 32 Banking & Financial Services Policy Report 15-22 (2013) (August 2013)

Don't 'Screw Joe the Plummer': The Sausage-Making of Financial Reform, 55 Arizona Law Review 53-103 (2013)

The Danger of Difference: Tensions in Directors' Views of Corporate Board Diversity, 3 University of Illinois Law Review 919-958 (2013) (with others)

Custom, Contract, and Kidney Exchange, 62 Duke Law Journal 645-670 (2012) (with Kieran Healy)

Narratives of Diversity in the Corporate Boardroom: What Corporate Insiders Say about Why Diversity Matters, in Discourse Perspectives on Organizational Communication 201-224 (Jolanta Aritz & Robyn C. Walker eds., 2012) (with others)

Dangerous Categories: Narratives of Corporate Board Diversity, 89 North Carolina Law Review 759-808 (2011) (with others)

Does Critical Mass Matter? Views from the Board Room, 34 Seattle University Law Review 1049-1080 (2011) (with others)

Introduction: For Love or Money? Defining Relationships in Law and Life, 35 Washington University Journal of Law & Policy 1-9 (2011) (with Marion Crain)

The Dark Side of Commodification Critiques: Politics and Elitism in Standardized Testing, 35 Washington University Journal of Law & Policy 349-362 (2011)

A Woman's Worth, 88 North Carolina Law Review 1739-1769 (2010)

Price and Pretense in the Baby Market, in Baby Markets: Money and the New Politics of Creating Families 41-55 (Michelle Bratcher Goodwin ed., 2010)

Altruism and Intermediation in the Market for Babies, 66 Washington & Lee Law Review 203-257 (2009)

Foreword: Show Me The Money: Making Markets in Forbidden Exchange, 72 Law & Contemporary Problems i-xiv (Summer 2009)

Operational Risk Management: An Emergent Industry, in Operational Risk Towards Basel III: Best Practices and Issues in Modeling, Management and Regulation 271 (G.N. Gregoriou ed.,  2009)

Sunny Samaritans and Egomaniacs: Price-Fixing in the Gamete Market, 72 Law & Contemporary Problems 59-90 (Summer 2009)

The Return of the Rogue, 51 Arizona Law Review 127-174 (2009)

Why We Should Ignore the "Octomom", 104 Northwestern University Law Review Colloquy 120-131 (2009)

Signaling Through Board Diversity: Is Anyone Listening?, 77 University of Cincinnati Law Review 431-464 (2008) (with Lissa Broome)

Incomplete Contracts in a Complete Contract World, 33 Florida State University Law Review 725-755 (2006) (with Scott Baker)

Common-Law Disclosure Duties and the Sin of Omission: Testing the Meta-Theories, 91 Virginia Law Review 1795-1888 (2005) (with Kathryn Zeiler)

Organizational Form as Status and Signal, 40 Wake Forest Law Review 977-1009 (2005)

Organizational Misconduct: Beyond the Principal-Agent Model, 32 Florida State University Law Review 571-615 (2005)

The Economics of Limited Liability: An Empirical Study of New York Law Firms, 2005 University of Illinois Law Review 107-169 (2005) (with Scott Baker)

The Penalty Default Canon, 72 George Washington Law Review 663-723 (2004) (with Scott Baker)

Cosmetic Compliance and the Failure of Negotiated Governance, 81 Washington University Law Quarterly 487-544 (2003)

Derivatives on TV: A Tale of Two Derivatives Debacles in Prime Time, 4 Green Bag 257-267 (2001) (with others)

Fairness, Efficiency and Insider Trading: Deconstructing the Coin of the Realm in the Information Age, 95 Northwestern University Law Review 443-503 (2001)

Foreword: The Regulation of Derivatives and Other Complex Financial Products, 21 Northwestern Journal of International Law & Business 565-571 (2001)

Privatizing "Outsider Trading", 41 Virginia Journal of International Law 693-715 (2001)

SEC Promulgates New Insider Trading Rules, 15 BNA Corporate Counsel Weekly 8 (2000) (with Richard W. Painter)

Accounting for Greed: Unraveling the "Rogue Trader" Mystery, 79 Oregon Law Review 301-338 (2000)

Building the Basic Course Around Intra-Firm Relations, 34 Georgia Law Review 785-807 (2000)

Derivatives, Corporate Hedging and Shareholder Wealth: Modigliani-Miller Forty Years Later, 1998 University of Illinois Law Review 1039-1104 (1998)

Don't Ask, Just Tell: Insider Trading After United States v. O'Hagan, 84 Virginia Law Review 153-228 (1998) (with others)

Corporate Debt Restructurings in Mexico: For Foreign Creditors, Insolvency Law Is Only Half the Story, 17 New York Law School Journal of International & Comparative Law 481-486 (1997)

Fiduciaries, Misappropriators and the Murky Outlines of the Den of Thieves: A Conceptual Continuum for Analyzing United States v. O'Hagan, 33 Tulsa Law Journal 163-175 (1997)

More Than Just New Financial Bingo: A Risk-based Approach to Understanding Derivatives, 23 Journal of Corporation Law 1-63 (1997)

Gustafson v. Alloyd Co.: The Wrong Decision, But it is Still Business As Usual in the Securities Markets, 31 Tulsa Law Journal 509-520 (1996)

Electronic Surveillance, 79 Georgetown Law Journal 678-700 (1991)

Issues Edited:

Altruism, Community, and Markets, 81 Law and Contemporary Problems (No. 3,  2018) (with others)

Law and Markets, 80 Law & Contemporary Problems (No. 1, 2017) (with Joseph Blocher)

Sex in Sport, 80 Law and Contemporary Problems (No. 4, 2017) (with Doriane Lambelet Coleman)

Organs and Inducements, 77 Law & Contemporary Problems (No. 3, 2014) (with Philip J. Cook)

Show Me The Money: Making Markets in Forbidden Exchange, 72 Law & Contemporary Problems (No. 3, Summer  2009)

Current Courses

All Courses

Business Associations
Advanced Contracts
Taboo Trades and Forbidden Exchanges

Faculty in the News