Law Review Article

Private Environmental Governance

Michael P. Vandenbergh

Environmental law is not what it once was.  It is no longer just a subfield of administrative law, starting with mandates in the form of statutes, translated into regulations enforced by agencies, and reviewed by courts, generating occasional iconic Supreme Court decisions such as Vermont Yankee,  It is… Read More »

Redrawing the Public-Private Boundaries in Entrepreneurial Capital Raising

Robert B. Thompson & Donald Langevoort

Congress enacted the Jumpstart Our Business Startups (JOBS) Act in 2012 amidst a perceived crisis in entrepreneurial capital raising. The number of initial public offerings (IPOs)—long the gold standard for capital raising by successful emerging companies—has dropped off considerably in the last decade. Companies not yet large or successful enough… Read More »

Law and Entrepreneurial Opportunities

D. Gordon Smith & Darian M. Ibrahim

“Opportunity” is a central concept in entrepreneurship research.  Entrepreneurial opportunities are the subset of market opportunities that involve some form of novelty or innovation.  In our Article, we explore the relationship between law and entrepreneurial opportunities. Before discussing the law, however, we delve in the entrepreneurship and psychology literatures to better… Read More »

Carrots and Sticks: How VCs Induce Entrepreneurial Teams to Sell Startups

Brian Broughman & Jesse M. Fried

Venture capitalists (VCs) play a significant role in the financing of high‑risk, technology-based business ventures.  Many of America’s best‑known public companies began as VC-backed firms:, Apple, FedEx, Intel, Microsoft, and Starbucks, to name a few.  Not surprisingly, venture capital is considered to be an important contributor to economic growth… Read More »

Virtual Assembly

John D. Inazu

We value groups for many reasons, but we value them constitutionally—under the First Amendment—because we believe that they help secure self-realization, self-governance, and dissent from majoritarian politics.  Most of us believe the groups that we form (or at least some of them) are for us and not for the state… Read More »

The Merger Agreement Myth

Jeffrey Manns & Robert Anderson

Practitioners and academics have long assumed that markets value the deal-specific legal terms of merger agreements yet have failed to subject this premise to empirical scrutiny.  Mergers are high-stakes events, so it is unsurprising that the conventional wisdom posits that value is at stake in drafting acquisition agreements and negotiating… Read More »

The Split Benefit: The Painless Way to Put Skin Back in the Health Care Game

Christopher Robertson

In 2009, U.S. health care spending reached approximately $2.5 trillion or 17.6% of GDP.  We spend more on health care than on food, housing, transportation, or anything else.  Congressional Budget Office (CBO) leaders have argued that “our country’s financial health will in fact be determined primarily by the growth rate… Read More »

The Last Temptation of Congress: Legislator Insider Trading and the Fiduciary Norm Against Corruption

Sung Hui Kim

On January 24, 2012, during his State of the Union address, President Barack Obama called for a new law banning insider trading by members of Congress (which I refer to as “legislator insider trading”).  Within weeks, both houses of Congress, after dragging their feet for years on similar proposals, overwhelmingly… Read More »

Accepting the Limits of Tax Law and Economics

Alex Raskolnikov

It is no secret that over the past four decades, the economic analysis of legal rules has transformed several areas of economic regulation and influenced many others.   Yet, efficiency maximization—the ultimate goal of law and economics—has had little impact on the content of the Internal Revenue Code.  A more robust… Read More »

The Social Production of Counterterrorism

Aziz Huq

From where is security against the risk of domestic terrorism elicited?  Our first instinct is often to turn to the State and its diverse apparatus of police, military, and intelligence agencies as the canonical supplier of protection against violent risk.  Yet some recent examples hint at a different dynamic:

In… Read More »

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