Research

Curriculum Vitae (pdf) (MS word) 

Publications: Articles and Essays

Creditors, Shareholders, and Losers In Between: A Failed Regulatory Experiment (pdf) (with Jeff Zhang), forthcoming in Cornell Law Review (2025) (featured on Harvard Law School Forum on Corporate Governance)

Meme Corporate Governance (pdf) (with Dhruv Aggarwal and Yoon-Ho Alex Lee), forthcoming in Southern California Law Review (2024) (featured on Matt Levine's Money Stuff, Harvard Law School Forum on Corporate Governance, Korean Business Law Network, NPR, ProMarket, and Michigan Law 5Qs)

The Meme Stock Frenzy: Origins and Implications (pdf) (with Dhruv Aggarwal and Yoon-Ho Alex Lee), 96:6 Southern California Law Review  1387 – 1415 (2024) (featured on Harvard Law School Forum on Corporate Governance)

Pricing Corporate Governance (pdf), 75:1 UC Law Journal (formerly Hastings Law Journal) 67 – 113 (2023) (featured on Columbia Law School BlueSky Blog, Korean Business Law Network, and ECGI Conversations)

Just Say No? Shareholder Voting on Securities Class Actions (pdf) (with Stephen Choi and Adam Pritchard), 1:1 University of Chicago Business Law Review 41 – 95 (2022) (featured on Harvard Law School Forum on Corporate Governance and Korean Business Law Network)

Class Actions and Private Antitrust Litigation (pdf) (with Kathy Spier), 14:3 American Economic Journal: Microeconomics 131 – 163 (2022)

Contract Design when Relationship-Specific Investment Produces Asymmetric Information (pdf) (with George Triantis), 50:2 Journal of Legal Studies 219 – 260 (2021)

Deal Protection Devices (pdf), 88:4 University of Chicago Law Review 757 – 827 (2021) (featured on Harvard Law School Forum on Corporate Governance)

The Economics of Class Action Waivers (pdf) (with Kathy Spier), 38:2 Yale Journal on Regulation 543 – 565 (2021) (featured on University of Washington Law School Podcast)

Federal Forum Provisions and the Internal Affairs Doctrine (pdf) (with Dhruv Aggarwal and Ofer Eldar), 10:2 Harvard Business Law Review 383 – 434 (2020) (featured on Harvard Law School Forum on Corporate Governance)

Designing and Enforcing Preliminary Agreements (pdf) (with George Triantis), 98:3 Texas Law Review 439 – 488 (2020) (featured on Columbia Law School Blue Sky Blog and Korean Business Law Network)

Golden Parachutes and the Limits of Shareholder Voting (pdf) (with Andrew Lund and Robert Schonlau), 73:1 Vanderbilt Law Review 223 – 266 (2020) (featured on Harvard Law School Forum on Corporate Governance)

Crisis-Driven Tax Law: The Case of Section 382 (pdf) (with Quinn Curtis and Andrew Hayashi), 23:1 Florida Tax Review 1 – 72 (2019) (featured on Harvard Law School Forum on Corporate Governance)

Taking a Financial Position in Your Opponent in Litigation (pdf) (with Kathy Spier), 108:12 American Economic Review 3626 – 3650 (2018) (featured on Columbia Law School Blue Sky Blog)

Contractarian Theory and Unilateral Bylaw Amendments (pdf) (with Geeyoung Min), 104:1 Iowa Law Review 1 – 44 (2018) (featured on Harvard Law School Forum on Corporate Governance)

Appraising the “Merger Price” Appraisal Rule (pdf) (with Eric Talley), 34:4 Journal of Law, Economics, and Organization 543 – 578 (2018) (featured on Harvard Law School Forum on Corporate Governance)

Concentrated Ownership and Long-Term Shareholder Value (pdf), 8:1 Harvard Business Law Review 53 – 99 (2018) (featured on Harvard Law School Forum on Corporate Governance)

Reputation and Litigation: Why Costly Legal Sanctions Can Work Better than Reputational Sanctions (pdf) (with Scott Baker), 47:1 Journal of Legal Studies 45 – 82 (2018)

Fee-Shifting and Shareholder Litigation (pdf), 104:1 Virginia Law Review 59 – 111 (2018) (featured on Harvard Law School Forum on Corporate Governance)

Facilitating Mergers and Acquisitions with Earnouts and Purchase Price Adjustments (pdf), 2:1 Journal of Law, Finance, and Accounting 1 – 47 (2017) (featured on Columbia Law School Blue Sky Blog and Harvard Law School Forum on Corporate Governance)

Non-Profit Status and Relational Sanctions: Commitment to Quality through Repeat Interactions and Organizational Choice (pdf), 58:4 Journal of Law and Economics 969 – 993 (2015) (featured on Columbia Law School Blue Sky Blog)

Contract’s Role in Relational Contract (pdf) (with Scott Baker), 101:3 Virginia Law Review 559 – 607 (2015)

Should Consumers Be Permitted to Waive Products Liability? Product Safety, Private Contracts, and Adverse Selection (pdf) (with Kathy Spier), 30:4 Journal of Law, Economics, and Organization 734 – 766 (2014)

Market Conditions and Contract Design: Variations in Debt Contracting (pdf) (with George Triantis), 88:1 New York University Law Review 51 – 82 (2013)

The Effect of Bargaining Power on Contract Design (pdf) (with George Triantis), 98:8 Virginia Law Review 1665 – 1744 (2012)

Strategic Vagueness in Contract Design: The Case of Corporate Acquisitions (pdf), (with George Triantis), 119:5 Yale Law Journal 848 – 924 (2010)

A Rent Extraction Theory of Right of First Refusal (pdf), 57:2 Journal of Industrial Economics 252 – 264 (2009)

Completing Contracts in the Shadow of Costly Verification (pdf) (with George Triantis), 37:2 Journal of Legal Studies 503 – 534 (2008)

Optimal Agency Contracts: The Effect of Vicarious Liability and Judicial Error (pdf) (with Juan Carlos Bisso), 28:3 International Review of Law and Economics 166 – 174 (2008)

A Critique of the Odious Debt Doctrine (pdf) (with Eric Posner), 70:3 Law and Contemporary Problems 33 – 51 (2007)

Successor Liability and Asymmetric Information (pdf), 9:2 American Law and Economics Review 408 – 434 (2007)

Should Plaintiffs Win What Defendants Lose? Litigation Stakes, Litigation Effort, and the Benefits of Decoupling (pdf) (with Chris Sanchirico), 33:2 Journal of Legal Studies 323 – 354 (2004)

Golden Parachute as a Compensation Shifting Mechanism (pdf), 20:1 Journal of Law, Economics, and Organization 170 – 191 (2004)

Allocating Settlement Authority under a Contingent Fee Arrangement (pdf), 23:2 Journal of Legal Studies 585 – 610 (2003)

Publications: Comments, Book Chapters, and Reviews

Giving Shareholders the Right to Say No (pdf), 45:4 Regulation 24 – 29 (2022-23)

Comment on “Wrongful Convictions, Deterrence, and Stigma Dilution” (pdf), 25:1 Supreme Court Economic Review 217 – 221 (2017)

Addressing Informational Challenges with Earnouts in Mergers and Acquisitions (pdf), in Claire Hill & Steven Davidoff Solomon, eds., Research Handbook on Mergers and Acquisitions (Edward Elgar Press, 2016)

Works in Progress (tentatively titled)

Contractual Remedies in Mergers: Lessons from Crispo v. Musk (pdf) (with Dhruv Aggarwal and Geeyoung Min), posted in April 2024

Retail Investors and Corporate Governance: Evidence from Zero-Commission Trading (pdf) (with Dhruv Aggarwal and Yoon-Ho Alex Lee), revised in April 2024 (featured on Matt Levine's Money Stuff and Harvard Law School Forum on Corporate Governance)

Liability for Non-Disclosure in Equity Financing (pdf) (with Kathy Spier), revised in June 2023 (featured on Harvard Law School Forum on Corporate Governance)

Research Network Websites

Google Scholar Page 

SSRN Author's Page  

ECGI Research Member Page

Links

Law and Economics Associations

American Law and Economics Association 

Asian Law and Economics Association 

Canadian Law and Economics Association 

European Association of Law and Economics 

Korean Law and Economics Association 

Midwestern Law and Economics Association 

Society for Empirical Legal Studies 

Society for Institutional and Organizational Economics 

Law and Economics Journals

American Law and Economics Review 

Asian Journal of Law and Economics 

International Review of Law and Economics 

Journal of Empirical Legal Studies 

Journal of Institutional and Theoretical Economics 

Journal of Law and Economics 

Journal of Law, Economics, and Organization 

Journal of Law, Finance, and Accounting 

Journal of Legal Studies 

Review of Law and Economics 

Supreme Court Economic Review 

University of Michigan

University of Michigan Law School

University of Michigan Faculty Page