Category Archives: Conferences/Workshops

Morality, Markets, and Contract Law at William & Mary

I’m looking forward to this upcoming event, Morality, Markets, and Contract Law, at William & Mary celebrating the publication of Nate Oman’s new book, The Dignity of Commerce: Markets and the Moral Foundations of Contract Law (University of Chicago Press 2017). I used Nate’s book in my contracts law seminar this year and recommend it for those interested in contract law theory and, in particular, for those interested in the intersections among contract law, markets, and morality.

The event is free and open to the public.

Hope to see you there!

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Bay Area Friends: Third Annual Kagan Lecture

Bay area readers may be interested in the upcoming Robert A. Kagan Lecture in Law and Regulation at Berkeley Law’s Center For The Study of Law And Society. The lecture is Thursday, March 16, from 3:30 – 5:15pm (see the flyer for more info) and features Lauren B. Edelman (Agnes Roddy Robb Professor Of Law And Professor Of Sociology, U.C. Berkeley), who will discuss her work on legal endogeneity. Robin Stryker (Professor, School Of Sociology, University Of Arizona) and I will provide commentary.

I’m looking forward to this. Edelman’s work has had a great influence on my own thinking and writing about the regulation of business entities, and I’m looking forward to this chance to reflect on her (and Kagan’s) impact.

Hope to see you there!

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Duke Law And Markets Grand Finale

lead-lawmarketsI’ve blogged here a few times before about our tradition of a yearlong project dedicated to a particular (broad) topic. This year’s topic was Law & Markets, and we’ve hosted reading groups, a workshop series, and a student seminar on the topic. But May 6 is the grand finale: our Law & Markets symposium.

As was the case with the predecessor Custom & Law project, the symposium is designed to be a conversation (and subsequent volume) among our own faculty and a few colleagues from across campus or neighboring schools. The schedule is below. If you’re in the triangle area, make sure to stop by, especially for the sure to be standing room only discussion of “Contract Development In A Matching Market: The Case of Kidney Exchange” by Kim Krawiec, Wenhao Liu, & Marc Melcher, with commentary by Arti Rai.

Law and Markets Symposium Schedule

May, 6, 2016 – Room 3000, Duke Law School

8:00-8:30 a.m. Breakfast
8:30-9:25 a.m. Joseph Blocher & Mitu Gulati, “Expulsion in International Law”
 Commenter: Larry Helfer
9:25–10:20 a.m. Sam Buell & Rachel Brewster, “The Market for Anti-Corruption Enforcement”
Commenter: Maggie Lemos
10:20–10:40 a.m. Break
10:40–11:35 a.m. Kim Krawiec, Wenhao Liu, & Marc Melcher, “Contract Development In A Matching Market: The Case of Kidney Exchange”
Commenter: Arti Rai
11:35–12:30 p.m. Taisu Zhang, “Land Markets in Early Modern Economies”
Commenter: Barak Richman
12:30–1:30 p.m. Lunch
1:30–2:25 p.m. Larry Zelenak, “The Body in Question: The Income Tax and Human Body Materials”
Commenter: Gregg Polsky
2:25–3:20 p.m. Steven Schwarcz, “The Market Convergence of Debt and Equity and its Relevance for Governance”
Commenter: Lawrence Baxter
3:20–3:40 p.m. Break
3:40–4:35 p.m. Lisa Griffin, “Plea Bargaining, Indigent Defense, and the Potential for Market Effects”
Commenter: Sara Beale
4:35–5:30 p.m. Jonas Monast, Brian Murray, & Jonathan Wiener, “On Markets, Morals, and Climate Change”
Commenter: Matt Adler

 

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The Moral Limits Of Free Markets In Boulder

cwctp.poster.freemarkets.final.400On Monday, I’ll be at CU Boulder’s Center For Western Civilization, Thought, & Policy, along with Jason Brennan (Associate Professor of Strategy, Economics, Ethics & Public Policy, Georgetown University) and Margaret Jane Radin (Michigan Law, Toronto Law) to discuss and debate the moral limits of free markets.

The event is free and open to the public, and I’ve copied the event information below. Although I’ll be back after the event with updates on the substance, I expect that Jason will take the position, consistent with his book, Markets Without Limits, that “if you may do it for free, you may do it for money.” I imagine that Peggy, consistent with her book, Contested Commodities, will argue that there should be some limits on markets, when necessary to protect nonmarket ideals important to personhood.

I plan to leave the normative debate to those two and take a more descriptive approach: regardless of whether or not market transactions actually degrade relationships and values, most people continue to believe that they do, at least in certain contexts. As a result, market advocates need to account for, and even accommodate, those concerns if the market is to exist at all.

As I explain in a piece I just posted to SSRN:

Students of markets from all disciplines are increasingly turning their attention to the cultural and psychological factors that affect market structure. In traditionally taboo markets, of which reproduction surely is one, those factors include cultural understandings of the moral limits of markets and our collective level of comfort with fully commodifying and subjecting traditionally sacred items and activities to the marketplace.

While it is easy to dismiss these cultural understandings as romantic, silly, or delusional, this severely underestimates their importance, not just to society, but to the market itself. By reframing traditionally unacceptable behavior as a more palatable and familiar transaction, society is able to accept a market that is otherwise socially problematic or even repulsive. Market architects ignore these cultural understandings–and, in particular, societal conceptions of the ethical limits of markets–at their peril. In a world unwilling to embrace the sale of female reproductive capacity for merely a price, the “priceless gift” of egg donation allows a market to flourish that otherwise might stagnate under the weight of social disapproval.


 

The Moral Limits of Free Markets (4/4/16)

The “Western Civ Dialogue” series presents:

The Moral Limits of Free Markets

Monday, April 4, 2016

4 p.m. to 5:30 p.m.

British and Irish Studies Room

Norlin Library – 5th Floor

University of Colorado Boulder

Free and open to the public.

If you may do it for free, may you do it for cash? For instance, may you buy and sell votes? How about buying and selling kidneys? Or buying and selling children? What should be off-limits to the market economy? Or do genuinely free markets permit everything? Scholars representing a wide range of views discuss the issues.

Featuring:

Jason Brennan, Associate Professor of Strategy, Economics, Ethics & Public Policy, Georgetown University

Margaret Jane Radin, Professor of Law, Emerita, University of Michigan Law School & Distinguished Research Scholar, University of Toronto Faculty of Law

Kimberly Krawiec, Professor of Law, Duke University Law School

 

Sponsored by the:

Center for Western Civilization, Thought and Policy (CWCTP)

http://www.colorado.edu/cwctp/

 

Co-sponsored by the:

Center for Values and Social Policy

http://www.colorado.edu/philosophy/center/

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Our Day Of Market Design

Al Roth with Taboo Trades seminar, March 23, 2016

Al Roth with Taboo Trades seminar, March 23, 2016

As I mentioned in my last post, 2012 Nobel Prize winner Al Roth visited Duke Law School this week as a guest of the Law & Markets project. We basically worked Al to death while he was here – he gave three talks in a single day: a casual morning discussion over coffee with my Taboo Trades students and select faculty; a lunchtime public lecture about his book, Who Get’s What And Why: The New Economics of Matchmaking and Market Design; and an afternoon faculty workshop on Global Kidney Exchange (sometimes called Reverse Transplant Tourism). And that’s not counting the breakfasts, lunch, and dinner he had with faculty who wanted to hear even more about market design. I was exhausted from just watching him in action.

Those who know Al won’t be surprised by that, I suspect. As I’ve discussed before in prior posts (here and here), Al is deservedly well-known for his generosity in sharing his time and expertise with students, colleagues, and even know-nothings like me.

UnknownWhether by design or happy accident (I’m not sure which, though he is a market designer, hmm . . . ) there was little overlap in the content of the three talks, though each one built on the other and someone who attended all three (as many of us did) could gain new insight into market design at each stage. The morning session focused primarily on labor markets, especially the judicial clerkship market and market for summer associates and how that compared to the market for new medical residents. As Al discusses in the book, the market for judicial clerks, unlike the market for medical residents, is one in which attempts to prevent market unraveling have been largely unsuccessful. We talked a bit about why that might be and it was interesting to have that discussion among someone who has studied that market (Al), current market participants (the students), prior participants (law professors) and those who have negotiated some of the earlier (failed) agreements – law school administrators.

The lunch talk focused on the concept of market design more generally, but with an emphasis on school choice, kidney exchange, and high frequency trading as examples. The afternoon session was devoted to Al’s current work on repugnant transactions and Global Kidney Exchange, an issue we have both worked on with Mike Rees.

It was a really special day all around, but I was especially happy to get a chance to share Al in person with my Taboo Trades students. They have already spent more time thinking about repugnant transactions than most people ever will, and it was great for them to have a chance to meet “The Pied Piper of Repugnance,” as I referred to Al some years ago, in person. We memorialized his visit with us in the photo above.

Prior posts about Al Roth:

Tomorrow Is Al Roth Day!

Congratulations to Al Roth!

Al Roth: The Pied Piper of Repugnance?

Al Roth, Market Designer, in August Forbes

Scalping The Dalai Lama

Prior posts about Global Kidney Exchange/Reverse Transplant Tourism: collected here

Prior posts about the Taboo Trades seminar: collected here

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Duke Project On Law And Markets: Updates

In the fall, I posted about my school’s yearlong initiative on Law & Markets, led by Joseph Blocher and me. The initiative builds on the model developed a few years ago by my colleagues Curt Bradley and Mitu Gulati, when they ran a project on Law & Custom. Like the Custom and Law Project that precedes it, the Law and Markets Project includes a summer reading group (see here for a reading list), a full year of workshops dedicated to law and markets (see here for the schedule), a student seminar (course description here), two public lectures (I’ll post about those separately), and will culminate in a symposium and volume (this one will be published by Law & Contemporary Problems, a quarterly, interdisciplinary, faculty-edited publication of Duke Law School).

Now that we’re into the home stretch, I feel like we’ve achieved a number of the goals we set for ourselves with this project. We’ve hosted speakers from a variety of disciplines (including law, economics, philosophy, sociology, and history) who spoke on topics ranging from refugees, to tax, to credit default swaps, to egg, sperm, blood, and organ markets. We’ve learned a lot, forged stronger connections with some of our colleagues across campus, and had fun. I’m counting it a success.

I’ll be back with more to say about some specific lectures and workshops, but for now am posting the workshop posters here (I’ve been tweeting them as they arise, so if you want updates follow me @KimKrawiec).

Workshop Poster Spring 2016Workshop Poster[1][1]

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Duke Project On Law And Markets

lead-lawmarketsA few years back, I put up a few posts discussing a new initiative we were trying out at my school, called the Duke Project on Custom and Law. As I said at the time:

We’re trying out something new at Duke next (2011-12) academic year that I wanted to float by Lounge readers. . . .

The plan is to have a continuing academic dialogue at the law school that is broad enough to include large segments of the faculty (ideally, all of it) and, eventually, other folks on campus as well. I think that the goal is to encourage conversation, collaboration, and cross-pollination among as much of our immediate community as possible. In order to do that we need a topic that is relevant to many people’s scholarship across fields, obviously.

We’ve chosen the relationship between custom and law. Sometimes custom informs the law, sometimes it is antagonistic to law, and sometimes it actually is the law. The year-long dialogue will explore these differing relationships between custom and law.

In hindsight, I think that we accomplished some of those goals better than others, but had sufficient success that our Dean has approved a new project for the 2015-16 academic year, The Duke Project on Law and Markets. This year’s project will be led by my colleague, Joseph Blocher, and me. Like the Custom and Law Project that precedes it, the Law and Markets Project will include a summer reading group (see here for a reading list), a full year of workshops dedicated to law and markets (see here for the fall schedule), a student seminar (course description here), and will culminate in a symposium and volume (this one will be published by Law & Contemporary Problems, a quarterly, interdisciplinary, faculty-edited publication of Duke Law School).

Needless to say, I’m very excited about this lineup of speakers and topics and about the project more generally. Although I was interested in Custom and Law and enjoyed that Project, those of you who know me know that I am much more passionate about law and markets! Our PR folks have circulated a lengthy news article describing the Project in some detail, for those who are interested. From the article:

About 30 faculty members took part in the project’s first event on June 1, a discussion of a controversial 1970 article on blood donation, which argued that a system based on altruism is superior to a market-based system regulated by self-interest. “We had a very lively, two-hour discussion,” said Blocher. “It was a great kick-off.”

I’ll post updates about the Project as the year progresses. For now, I’ll just post the speaker schedule, along with an invitation for area Loungers to join us for speakers or topics that interest you. Just let me or Joseph know of your interest, and we’ll keep you in the loop.

The Duke Project on Law and Markets 2015-2016 Faculty Workshop Series will feature the following scholars:

Sept. 9, 2015, 3:45 p.m., Room 4046

Guy-Uriel Charles, Charles S. Rhyne Professor of Law and Senior Associate Dean for Faculty & Research, Duke University School of Law

Representative scholarship: Corruption Temptation, 102 California Law Review 25 (2014)

Margaret H. Lemos, Robert G. Seaks LL.B. ’34 Professor of Law, Duke University School of Law

Representative Scholarship: For-Profit Public Enforcement, 127 Harvard Law Review 853 (2014) (with Max Minzner)

Sept. 23, 2015, 3:45 p.m., Room 4046

Kara W. Swanson, Professor of Law, Northeastern University

Representative scholarship: Banking on the Body The Market in Blood, Milk, and Sperm in Modern America, (Harvard University Press, 2014)

October 7, 2015, 3:45 p.m., Room 4046

Jason F. Brennan, Associate Professor of Strategy, Economics, Ethics, and Public Policy at the McDonough School of Business; Associate Professor of Philosophy, at Georgetown University

Representative scholarship: Markets without Limits, with Peter Jaworski (Routledge Press, 2015)

October 21, 2015, 3:45 p.m., Room 4046

Lawrence A. Zelenak, Pamela B. Gann Professor of Law, Duke University School of Law

Representative Scholarship: Custom and the Rule of Law in the Administration of the Income Tax, 62 Duke Law Journal 829 (2012)

November 4, 2015, 3:45 p.m., Room 4046

Jon D. Michaels, Professor of Law, UCLA

Representative scholarship: Running Government Like a Business…Then and Now, 128 Harvard Law Review 1152 (2015).

November 18, 2015, 3:45 p.m., Room 4046

Gillian E. Metzger, Stanley H. Fuld Professor of Law, Columbia Law School

Representative Scholarship: Privatization As Delegation, 103 Columbia Law Review 1367 (2003). Excerpted in Modern Constitutional Theory: A Reader (John H. Garvey, T. Alexander Aleinikoff, & Daniel A. Farber, eds. 2004) To download click here

December 2, 2015, 3:45 p.m., Room 4046

Mario Macis, Assistant Professor, The Johns Hopkins Carey Business School

Representative scholarship: Will There Be Blood? Incentives and Displacement Effects in Pro-Social Behavior, American Economic Journal: Economic Policy, 2012, 4 (1): 186-223 (with Nicola Lacetera and Robert Slonim)

Related Posts: 

Duke Project on Custom and Law

More Law And Custom

Law and Custom Today and Tomorrow

Custom, Contract, and Kidney Exchange

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cbh15

Recently, I had the good fortune to attend Challenging Boardroom Homogeneity, a symposium and book launch hosted by Aaron Dhir at Yale Law School. Lounge readers may remember that Aaron participated in our recent What’s The Return on Equality? mini-symposium here at the Lounge, in which he discussed some of the findings from his interviews with Norwegian directors that form the basis for his book.

I won’t say much about the book right now (though I may come back with a more detailed discussion later), other than to say that I definitely recommend it for anyone interested in this subject matter. Although I am significantly more skeptical than Aaron when it comes to directors’ assertions regarding the business case for boardroom diversity, the material he’s collected is a real contribution to the field and really essential reading.

The book launch and symposium was a great event that included many folks whose work in this area I’ve admired for some time. And, as is particularly appropriate for the topic, it was a highly diverse group on a number of fronts, with academics from law, economics, sociology, political science, and psychology represented, as well as directors, business leaders, and others active in this space from the non-academic side. It was one of the better events I’ve attended.

The photo is of our group at the end of an excellent day’s discussion.

Symposium Participants

Symposium Participants

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15th Annual Workshop on Conducting Empirical Legal Scholarship

The 15th annual workshop on Conducting Empirical Legal Scholarship, co-taught by Lee Epstein and Andrew D. Martin, will run from June 15-June 17 at Washington University in St. Louis. The workshop is for law school faculty, lawyers, political science faculty, and graduate students interested in learning about empirical research and how to evaluate empirical work. It provides the formal training necessary to design, conduct, and assess empirical studies, and to use statistical software (Stata) to analyze and manage data.

Participants need no background or knowledge of statistics to enroll in the workshop. Registration is here. For more information, please contact Lee Epstein.

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