Economics Institute for Judges, Week Two, March 9-15, 2013



Incentives, Property Rights, and Transaction Costs

Free Market Environmentalism
Terry L. Anderson, President, Property and Environment Research Center (PERC); Senior Fellow, Hoover Institution, Stanford University
Terry L. Anderson and Laura E. Huggins, Property Rights: A Practical Guide to Freedom & Prosperity, Hoover Institution Press Publication 515, Stanford University (2003)
Tragedy of the Commons; The Coase Theorem | Anderson
Property Rights and Environmental Entrepreneurs | Anderson

Economics of Accounting Data

Introduction to Financial Statements
Glenn M. Pfeiffer, Warren and Doris Uehlinger Endowed Professorshin in Business, Argyros School of Business & Economics, Chapman University
Robert C. Pozen, Is it Fair to Blame Fair Value Accounting for the Financial Crisis?, Harvard Business Review (November 2009)
Glen Pfeiffer and David Porter, Bubbles and Fair Value Accounting, Economic and Business Review (December 2011)
Historical Costs and Opportunity Costs; Accounting Values v. Financial Valuation; Accounting Values and Market Values | Pfeiffer
Off-Balance Sheet Financing; Fair Value Reporting and The Banking Crisis | Pfeiffer

Statistics and Policy Analysis

Statistics in an Hour

Jonathan Klick, Professor of Law, University of Pennsylvania Law School

David H. Kaye and David A. Freedman, Reference Guide on Statistics; and Daniel L. Rubinfeld, Reference Guide on Multiple Regression, Reference Manual on Scientific Evidence: Third Edition (2011)
When is Correlation Causation? | Klick
Joshua D. Angrist and Jörn-Steffen Pischke, The Credibility Revolution in Empirical Economics: How Better Research Design Is Taking the Con out of Econometrics, Journal of Economic Perspectives, 24(2): 3-30 (2010)

Using Empirical Research to Guide Policy Making | Klick


Scientific Method

​The Scientific Method 
James S. Trefil, Robinson Professor of Physics, George Mason University
James S. Trefil, What is Science?, Science in World, 1:1-13 (Routledge 2012)
Elements of Scientific Decision Making | Trefil
The Extinction of the Dinosaurs: The Scientific Method in Action | Trefil



Experimental Economics

The Modern Relevance of Adam Smith
Vernon L. Smith, Professor of Economics and Law, George L. Argyros Endowed Chair in Finance and Economics and 2002 Nobel Laureate in Economics, Chapman University
Bart Wilson,  Professor of Economics and Law, Donald P. Kennedy Endowed Chair in Economics and Law, Chapman University
Vernon L. Smith, Adam Smith on Humanomic Behavior, Journal of Behavioral Finance & Economics, Vol. 2, Issue 1 (2012)
Adam Smith, Chapter I: of the Division of Labour, The Online Library of Liberty (January 2013) 
Adam Smith, Chapter II: of the Principle which Gives Occasion to the Division of Labour, The Online Library of Liberty (January 2013) 
Adam Smith, Chapter III: That the Division of Labour is Limited by the Extent of the Market, The Online Library of Liberty (January 2013) 
Vernon L. Smith & Bart J. Wilson, Sentiments, Conduct, and Trust in the Laboratory (January 2013)
The Emergence of Property in the Laboratory | Smith & Wilson
Robert C. Ellickson, A Hypothesis of Wealth Maximizing Norms: Evidence from the Whaling Industry, Journal of Law, Economics, and Organization, 5(1): 83-97 (1989)
Cooperation, Competition & Trust Formation: Insights and Implications from the Prisoner's Dilemma
Matthew W. McCarter,  Assistant Professor of Management, George L. Argyros School of Business and Economics, Wang-Fradkin Assistant Professorship, Chapman University
Max H. Baserman, The Mind of the Negotiator: When Self-Interest is Sabotage, Negotiation (December 2003)
Deepak Malhotra, When Contracts Destroy Trust, Harvard Business Review 87, no. 5 (May 2009): 25 *Same PDF as The Mind of the Negotiator*

Law and Economics Applications

Mortgage Markets
Todd J. Zywicki, George Mason University Foundation Professor of Law, George Mason University School of Law
Joseph D. Adamson and Todd J. Zywicki, The Law and Economics of Subprime Lending, 80 U. Colo. L. Rev. 1 (Winter 2009)
Gabriel Okloski and Todd J. Zywicki, The Housing Market Crash, Mercatus Center Working Paper No. 09-35 (September 2009)
The Not-So-Good Good Old Days of Consumer Credit | Zywicki
Todd J. Zywicki, America’s Debt Paranoia, The Freeman (October 2009) 
Todd J. Zywicki, The Market for Information and Credit Card Regulation, Banking & Financial Services Policy Report at 13 (January 2009)
Todd J. Zywicki, Money to Go, Regulation at 32 (Summer 2010)
Todd J. Zywicki, Dodd-Frank and the Return of the Loan Shark, The Wall Street Journal, January 4, 2011
Todd J. Zywicki, The Dick Durbin Bank Fees, The Wall Street Journal, September 29, 2011
On the Efficiency of the Common Law | Zywicki
Todd J. Zywicki and Edward Peter Stringham, Common Law and Economic Efficiency (September 8, 2010); ENCYCLOPEDIA OF LAW AND ECONOMICS, Francesco Parisi, Richard Posner, eds., 2010; George Mason Law & Economics Research Paper No. 10-43
Todd J. Zywicki, Spontaneous order and the common law: Gordon Tullock’s Critique, 135 Pub. Choice 35 (2008)