JEP

Economics Institute for Judges, Week Two, December 8-12, 2013

 

Agenda

Sunday, December 8

 

Welcome

6:00 - 8:00 pm

 

Arrivals

 

Monday, December 9

Classes help in East-Center Ballroom

7:00 - 8:00 am

 

Registration

7:00 - 8:00 am

 

Breakfast, Dolphin Deck

8:00 am

 

Welcome 

 

Henry N. ButlerGeorge Mason University Foundation Professor of Law and Executive Director, Law & Economics Center

 

Incentives, Property Rights, and Transaction Costs

8:00 - 9:15 am

 

Free Market Environmentalism

 

Terry L. Anderson, Executive Director, Property and Environment Research Center (PERC); Senior Fellow, Hoover Institution, Stanford University

 

Reading Assignment:
Terry L. Anderson and Laura E. Hugins, Property Rights: A Practical Guide to Freedom & Prosperity, Hoover Institution Press Publication 515, Stanford University (2003)

9:30 - 10:45 am

 

Tragedy of the Commons; The Coase Theorem | Anderson

11:00 - 12:15 pm

 

Property Rights and Environmental Entrepreneurs | Anderson

12:15 pm

 

Island Buffet Lunch, Landings

 

Tuesday, December 10

Classes held in East-Center Ballroom

7:00 - 8:00 am

 

Breakfast, Dolphin Deck

 

Economics of Accounting Data

8:00 - 9:15 am

 

Introduction to Financial Statements

 

Glenn M. Pfeiffer, Warren and Doris Uehlinger Endowed Professorship in Business, Argyros School of Business & Economics, Chapman University

 

Reading Assignment: 
Robert C. Pozen, Is it Fair to Blame Fair Value Accounting for the Financial Crisis?, Harvard Business Review (November 2009)

Glenn Pfeiffer and David Porter, Bubbles and Fair Value Accounting, Economic and Business Review (December 2011)

9:30 - 10:45 am

 

Historical Costs and Opportunity Costs; Accounting Values v. Financial Valuation; Accounting Values and Market Values | Pfeiffer

11:00 - 12:15 pm

 

Off-Balance Sheet Financing; Fair Value Reporting and the Bank Crisis | Pfeiffer

 

Wednesday, December 11

Classes held in East-Center Ballroom

7:00 - 8:00 am

 

Breakfast, Dolphin Deck

   

Public Choice Economics

8:00 - 9:15 am

 

Rent Extraction

 

Fred S. McChesney, de la Cruz.Mentschikoff Endowed Chair in Law & Economics, University of Miami School of Law

 

Reading Assignment:
J. Gregory Sidak, The Petty Larceny of the Police Power, 86 Cal. L. Rev. (1998)

Fred S. McChesney, Historic Self-Preservation, Library of Economics and Liberty

Malcome B. Coate, et al., Bureaucracy and Politics in FTC Merger ChallengesJournal of Law and Economics, Vol. 33, No. 2 (Oct 1990).

9:30 - 10:45 am

 

Behavioral Economics and the Role of Assumptions in Economic Thinking | McChesney

11:00 - 12:15 pm

 

Empirical Evidence on Public Choice | McChesney

 

Thursday, December 12

Classes held in East-Center Ballroom

7:00 - 8:00 am

 

Breakfast, Dolphin Deck

   

Law and Economics Applications

8:00 - 9:15 am

 

Mortgage Markets

 

Todd J. Zywicki, George Mason University Foundation Professor of Law, George Mason University School of Law

 

Reading Assignment:
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 CrashMercatus Center Working Paper No. 09-35 (September 2009)

9:30 - 10:45 am

 

The Not-So-Good Good Old Days of Consumer Credit | Zywicki

 

Reading Assignment:
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

11:00 - 12:15 pm

 

On the Efficiency of the Common Law | Zywicki

 

Reading Assignment:
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)

12:15 - 1:30 pm

 

Lunch, Dolphin Deck

 

Statistics & Policy Analysis

1:30 - 2:45 pm

 

Statistics in an Hour

 

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

 

Reading Assignment:
David H. Kaye and David A. Freeman, Reference Guide on Statistics; and Daniel L. Rubinfeld, Reference Guide on Multiple Regression, Reference Manual of Scientific Evidence: Third Edition (2011)

3:00 - 4:15 pm

 

When is Correlation Causation? | Klick

 

Reading Assignment:
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

4:30 - 5:45 pm

 

Using Empirical Research to Guide Policy Making | Klick

6:30 - 8:45 pm

 

Reception and DinnerLandings & Pool

 

Friday, December 13

Departure