Adam Smith, Prophet of Law and Economics

There is concern that present-biased agents incur too much debt because of its deferred costs – concern that has influenced regulation of consumer...

Lenders are perfectly free to decide for themselves whether, when, how, to whom and on what terms they will extend credit to a sovereign borrower. But...

False information causes harm, threatening individuals, groups, and society. Many people struggle to judge the veracity of the information around them...

We live in a golden age of student surveillance. Some surveillance is old school: video cameras, school resource officers, and tip lines. Old-school...

This article examines the impact of Greece retroactively, via legislation, changing the terms in hundreds of billions of euros worth of Greek...

Income inequality is a national preoccupation, and the public’s imagination is captured by the astronomical incomes of Valley tech billionaires and...

There is a live debate going on over whether antitrust should take a broader view of the economics of market concentration. When antitrust reformers...

We examine the legal terms in the market for green bonds, debt instruments in which proceeds are earmarked, directly or indirectly, for projects with...

This Article develops a new way of understanding the law in order to address contemporary debates about judicial practice and reform. The...

The SEC mandates that public companies assess new information that changes the risks that they face and disclose these if there has been a “material”...

Countries hit by unexpected crises often look to their overseas diasporas for assistance. Some countries have tapped into this generosity of their...

The conventional view is that standardized boilerplate terms represent an optimal contractual solution to the contracting problems facing parties in...

Consequential damages have been a cornerstone of contract doctrine since the broken crankshaft in Hadley v. Baxendale. And the Hadley rule is one of...

How should judges decide hard cases involving rights conflicts? Standard debates about this question are usually framed in jurisprudential terms...

In this article, we examine the relations between risk, the choice of foreign or local contract terms (parameters), and maturity in the sovereign debt...

This article argues that the fact that an action will compound a prior injustice counts as a reason against doing the action. I call this reason The...

At first blush, the debate between Stanley Fish and Ronald Dworkin that took place over the course of the 1980s and early 90s seems to have produced...