The Center for Law and Economic Studies’ basic mandate is to develop interdisciplinary research and teaching programs in order to shed new light on the “fundamental economic and legal problems of the modern industrial society.”

The center, founded in 1975, now sponsors an extensive program of research, teaching, and public discussion of law and economic issues. It has taken the lead in developing new interdisciplinary courses and seminars at Columbia. The center has supported many major research projects, which have included participants from law, economics, business, and other disciplines. In addition, the center provides regular support for research by Columbia faculty members. The first major project was on industrial concentration; subsequent projects have included corporate takeovers, regulation of electric power, and corporate governance.

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Publications from 2020

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Working Paper: How to Help Small Businesses Survive COVID-19, Todd Baker and Kathryn Judge

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Working Paper: Stress Testing During Times of War, Kathryn Judge

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Working Paper: Why the Fed Should Issue a Policy Framework for Credit Policy, Kathryn Judge

Publications from 2019

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Working Paper: Board 3.0 – An Introduction, Ronald J. Gilson and Jeffrey N. Gordon

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Working Paper: The Data Standardization Challenge, Kathryn Judge and Richard Berner

Publications from 2016

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Working Paper: After The Golden Victory: Still Lost at Sea, Victor P. Goldberg

Publications from 2015

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Working Paper: A Crib Sheet for Contracts Profs, Victor P. Goldberg

Publications from 2014

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Working Paper: Fee-Shifting Bylaw and Charter Provisions: Can They Apply in Federal Court? – The Case for Preemption, John C. Coffee Jr.

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Working Paper: Market Efficiency after the Financial Crisis: It's Still a Matter of Information Costs, Ronald J. Gilson and Reinier Kraakman

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Working Paper: Merger Control Procedures and Institutions: A Comparison of the EU and US Practice, William E. Kovacic, Petros C. Mavroidis, and Damien J. Neven

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Working Paper: Tax and Corporate Governance: The Influence of Tax on Managerial Agency Costs, David M. Schizer

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Working Paper: Text and Context: Contract Interpretation as Contract Design, Ronald J. Gilson, Charles F. Sabel, and Robert E. Scott

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Working Paper: Trusting the Courts: Redressing the State Court Funding Crisis, Michael J. Graetz

Publications from 2013

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Working Paper: Idiosyncratic Risk During Economic Downturns: Implications for the Use of Event Studies in Securities Litigation, Edward G. Fox, Merritt B. Fox, and Ronald J. Gilson

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Working Paper: Protecting Reliance, Victor P. Goldberg

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Working Paper: Protecting Reliance, Victor P. Goldberg

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Working Paper: The Agency Costs of Agency Capitalism: Activist Investors and the Revaluation of Governance Rights, Ronald J. Gilson and Jeffrey N. Gordon

Publications from 2012

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Working Paper: A Precedent Built on Sand: NorCon v. Niagara Mohawk, Victor P. Goldberg

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Working Paper: I Like to Pay Taxes: Taxpayer Support for Government Spending and the Efficiency of the Tax System, David M. Schizer and Yair Listokin

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Working Paper: Law by Non Sequitur: NorCon v. Niagara Mohawk, Victor P. Goldberg

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Working Paper: The New Class Action Landscape: Trends and Developments in Class Certification and Related Topics, John C. Coffee Jr. and Alexandra D. Lahav

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Working Paper: The Political Economy of Dodd-Frank: Why Financial Reform Tends to be Frustrated and Systemic Risk Perpetuated, John C. Coffee Jr.

Publications from 2011

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Working Paper: Anticompetitive Regulation in the Payment of Card Industry, Ronald J. Mann

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Working Paper: Dodd-Frank for Bankruptcy Lawyers, Douglas G. Baird and Edward R. Morrison

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Working Paper: Introduction: The Three and a Half Minute Transaction: Boilerplate and the Limits of Contract Design, Mitu Gulati and Robert E. Scott

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Working Paper: Rethinking the Laws of Good Faith Purchase, Alan Schwartz and Robert E. Scott

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Working Paper: Rethinking the Laws of Good Faith Purchase, Alan Schwartz and Robert E. Scott

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Working Paper: Traynor (Drennan) v. Hand (Baird): Much Ado About (Almost) Nothing, Victor P. Goldberg

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Working Paper: Virtue Ethics and Efficient Breach, Avery W. Katz

Publications from 2010

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Working Paper: Bail-Ins Versus Bail-Outs: Using Contingent Capital to Mitigate Systemic Risk, John C. Coffee Jr.

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Working Paper: Dispersed Ownership: The Theories, the Evidence, and the Enduring Tension Between "Lumpers" and "Splitters", John C. Coffee Jr.

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Working Paper: Ratings Reform: The Good, The Bad, and The Ugly, John C. Coffee Jr.

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Working Paper: Reforming the Taxation of Derivatives – An Overview, Alex Raskolnikov

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Working Paper: Subsidizing the Press, David M. Schizer

Publications from 2009

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Working Paper: A Proposed Petroleum Fuel Price Stabilization Plan, David M. Schizer and Thomas W. Merrill

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Working Paper: Chrysler, GM and the Future of Chapter 11, Edward R. Morrison

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Working Paper: Contract Interpretation Redux, Alan Schwartz and Robert E. Scott

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Working Paper: Enhancing Investor Protection and the Regulation of Securities Markets, John C. Coffee Jr.

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Working Paper: Excuse Doctrine: The Eisenberg Uncertainty Principle, Victor P. Goldberg

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Working Paper: Into the Void: Governing Finance in Central & Eastern Europe, Katharina Pistor

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Working Paper: Litigation Governance: Taking Accountability Seriously, John C. Coffee Jr.

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Working Paper: Locating Innovation: The Endogeneity of Technology, Organizational Structure and Financial Contracting, Ronald J. Gilson

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Working Paper: The Empagran Exception: Between Illinois Brick and a Hard Place, Victor P. Goldberg

Publications from 2008

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Working Paper: Bargaining Around Bankruptcy: Small Business Workouts and State Law, Edward R. Morrison

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Working Paper: Creditor Control and Conflict in Chapter 11, Kenneth M. Ayotte and Edward R. Morrison

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Working Paper: In (Partial) Defense of Strict Liability in Contract, Robert E. Scott

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Working Paper: Market Damages, Efficient Contracting and the Economic Waste Fallacy, Alan Schwartz and Robert E. Scott

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Working Paper: Redesigning the SEC: Does the Treasury Have a Better Idea?, John C. Coffee Jr. and Hillary A. Sale

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Working Paper: Sovereign Wealth Funds and Corporate Governance: A Minimalist Response to the New Merchantilism, Ronald J. Gilson and Curtis J. Milhaupt

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Working Paper: Subsidizing Charitable Contributions: Incentives, Information, and the Private Pursuit of Public Goals, David M. Schizer

Publications from 2007

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Working Paper: Controlling Family Shareholders in Developing Countries: Anchoring Relational Exchange, Ronald J. Gilson

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Working Paper: Deconstructing Equity: Public Ownership, Agency Costs, and Complete Capital Markets, Ronald J. Gilson and Charles K. Whitehead

Publications from 2006

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Working Paper: Bankruptcy Decisionmaking: An Empirical Study of Continuation Bias in Small-Business Bankruptcies, Edward R. Morrison

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Working Paper: Enlisting the Tax Bar, David M. Schizer

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Working Paper: Financial Contracts and the New Bankruptcy Code: Insulating Markets from Bankrupt Debtors and Bankruptcy Judges, Edward R. Morrison and Joerg Riegel

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Working Paper: Hoffman v. Red Owl Stores and the Myth of Precontractual Reliance, Robert E. Scott

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Working Paper: Reforming the Securities Class Action: An Essay on Deterrence and its Implementation, John C. Coffee Jr.

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Working Paper: The Law and Economics of Preliminary Agreements, Alan Schwartz and Robert E. Scott

Publications from 2005

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Working Paper: A Theory of Corporate Scandals: Why the U.S. and Europe Differ, John C. Coffee Jr.

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Working Paper: Causation by Presumption? Why the Supreme Court Should Reject Phantom Losses and Reverse Broudo, John C. Coffee Jr.

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Working Paper: Controlling Shareholders and Corporate Governance: Complicating the Comparative Taxonomy, Ronald J. Gilson

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Working Paper: Reading Wood v. Lucy, Lady Duff-Gordon with Help from the Kewpie Dolls, Victor P. Goldberg

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Working Paper: Risk Management in Long-Term Contracts, Victor P. Goldberg

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Working Paper: Separation and the Function of Corporation Law, Ronald J. Gilson

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Working Paper: Serial Entrepreneurs and Small Business Bankruptcies, Douglas G. Baird and Edward R. Morrison

Publications from 2004

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Working Paper: Balance in the Taxation of Derivative Securities: An Agenda for Reform, David M. Schizer

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Working Paper: Choice as Regulatory Reform: The Case of Japanese Corporate Governance, Ronald J. Gilson and Curtis J. Milhaupt

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Working Paper: Self-Enforcing International Agreements and the Limits of Coercion, Robert E. Scott and Paul B. Stephan

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Working Paper: The Efficient Design of Option Contracts: Principles and Applications, Avery W. Katz

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Working Paper: The Poison Pill in Japan: The Missing Infrastructure, Ronald J. Gilson

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Working Paper: The Relative Costs of Incorporating Trade Usage into Domestic Versus International Sales Contracts, Avery W. Katz

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Working Paper: Understanding Macs: Moral Hazard in Acquisitions, Ronald J. Gilson and Alan Schwartz

Publications from 2003

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Working Paper: Innovation in Corporate Law, Katharina Pistor, Yoram Keinan, Jan Kleinheisterkamp, and Mark D. West

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Working Paper: The Attorney as Gatekeeper: An Agenda for the SEC, John C. Coffee Jr.

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Working Paper: The Economics of Form and Substance in Contract Interpretation, Avery W. Katz

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Working Paper: What Caused Enron?: A Capsule Social and Economic History of the 1990's, John C. Coffee Jr.

Publications from 2002

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Working Paper: Free Riding on Hot Wheels, Victor P. Goldberg

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Working Paper: Incomplete Law – A Conceptual and Analytical Framework and its Application to the Evolution of Financial Market Regulation, Katharina Pistor and Chenggang Xu

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Working Paper: Racing Towards the Top?: The Impact of Cross-Listings and Stock Market Competition on International Corporate Governance, John C. Coffee Jr.

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Working Paper: The Rise and Fall of Article 2, Robert E. Scott

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Working Paper: Trade, Law, and Product Complexity, Daniel Berkowitz, Johannes Moenius, and Katharina Pistor

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Working Paper: Understanding Enron: "It's About the Gatekeepers, Stupid", John C. Coffee Jr.

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Working Paper: Understanding Venture Capital Structure: A Tax Explanation for Convertible Preferred Stock, Ronald J. Gilson and David M. Schizer

Publications from 2001

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Working Paper: Competition Among Securities Markets: A Path Dependent Perspective, John C. Coffee Jr.

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Working Paper: Frictions as a Constraint on Tax Planning, David M. Schizer

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Working Paper: The Acquiescent Gatekeeper: Reputational Intermediaries, Auditor Independence and the Governance of Accounting, John C. Coffee Jr.

Publications from 2000

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Working Paper: Convergence and its Critics: What are the Preconditions to the Separation of Ownership and Control?, John C. Coffee Jr.

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Working Paper: Discretion in Long-Term Open Quantity Contracts: Reining in Good Faith, Victor P. Goldberg

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Working Paper: Economic Reasoning and the Framing of Contract Law: Sale of an Asset of Uncertain Value, Victor P. Goldberg

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Working Paper: Globalizing Corporate Governance: Convergence of Form or Function, Ronald J. Gilson

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Working Paper: Sales and Elections as Methods for Transferring Corporate Control, Ronald J. Gilson and Alan Schwartz

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Working Paper: Sticks and Snakes: Derivatives and Curtailing Aggressive Tax Planning, David M. Schizer

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Working Paper: Unocal Fifteen Years Later (and What We Can Do About It), Ronald J. Gilson

Publications from 1999

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Working Paper: Does Venture Capital Require an Active Stock Market?, Ronald J. Gilson and Bernard S. Black

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Working Paper: Executives and Hedging: The Fragile Legal Foundation of Incentive Compatibility, David M. Schizer

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Working Paper: Privatization and Corporate Governance: The Lessons from Securities Market Failure, John C. Coffee Jr.

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Working Paper: The Future as History: The Prospects for Global Convergence in Corporate Governance and Its Implications, John C. Coffee Jr.

Publications from 1998

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Working Paper: Bloomer Girl Revisited or How to Frame an Unmade Picture, Victor P. Goldberg

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Working Paper: In Search of Best Efforts: Reinterpreting Bloor v. Falstaff, Victor P. Goldberg

Publications from 1997

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Working Paper: An Economic Analysis of the Guaranty Contract, Avery W. Katz