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Coase-Sandor Institute for Law and Economics

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Inaugural Donald M. Ephraim Prize in Law and Economics Awarded

The University of Chicago Law School has awarded its inaugural Donald M. Ephraim Prize in Law and Economics to Megan T. Stevenson, Associate Professor of Law and Associate Professor of Economics at the University of Virginia.

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Coase Lecture 2023 "Law, Economics, and International Development," presented by Professor Adam Chilton

Adam Chilton is a Professor of Law and the Walter Mander Research Scholar. This lecture was presented on February 1, 2023.

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The Coase-Sandor Global Lecture Series

Professors Lior Strahilevitz, Daniel Hemel, Lee Fennell, Omri Ben Shahar, and Eric Posner present their research as part of the 2020 Global Lecture Series

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About the Coase-Sandor Institute for Law and Economics

The Coase-Sandor Institute for Law and Economics continues the long tradition of excellence at the University of Chicago Law School as the birthplace of law in economics. First established as the Institute for Law and Economics in 2011, the goal of the Institute is to promote the understanding and dissemination of the economic approach to law. Toward that end, the Institute faculty produce cutting-edge research on the intersection of law and economics in the fields of contract law, corporate governance, finance, taxation, environmental regulation, energy policy, and criminal justice, among others. The Institute team provides empirical research support, promotes learning by students, faculty, and fellows, and organizes conferences and events in Chicago and beyond. Professor Omri Ben-Shahar, renowned contract law scholar, is the faculty director of the Coase-Sandor Institute.

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Events

Law and Economics Workshop - Ryan Bubb, New York University
9/26

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Room F

Law and Economics Workshop - Michael Frakes, Duke University
10/10

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Room F

Law and Economics Workshop - Brook Gotberg, Brigham Young University
10/24

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Room F

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Lisa Bernstein on the Myth of the Law Merchant

In this video series of three mini-lectures, Prof. Lisa Bernstein explores the myth of the law merchant: the medieval law merchant, the contemporary law merchant, and the modern law merchant.

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How the Law School’s Coase-Sandor Institute Supports Empirical Scholarship
By Carol Kim, '22

When the Law School’s scholars tap into massive data sets to answer pressing legal questions, they often draw support from the Coase-Sandor Institute of Law and Economics, an academic hub and research lab staffed by a small team of analysts trained to clean, organize, and synthesize data.

It’s a behind-the-scenes ingredient designed for Law School faculty whose cutting-edge scholarship includes time-consuming empirical work—and it is a resource John Rappaport, Professor of Law and Ludwig and Hilde Wolf Research Scholar, calls “significant.”

Joshua Macey, Colleague Author Paper on Electricity Capacity Markets
Energy Policy Institute at the University of Chicago
Adriana Robertson Examines Assumptions About Passive Index Funds
Harvard Law School Forum on Corporate Governance
Randal Picker Examines the Draft Merger Guidelines as an Attempt to Educate the Public
ProMarket
Fifty Years After Richard Posner’s ‘Economic Analysis of Law,’ The Economist Reviews the Impact of the Chicago School of Economics on American Justice
The Economist
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Coase-Sandor Institute for Law & Economics Research Paper Series

The University of Chicago Coase-Sandor Institute for Law & Economics Research Paper Series publishes working papers in law and economics authored by University of Chicago faculty. Papers for consideration should be sent to workingpapers@law.uchicago.edu.

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Symposium on Personalized Law

Panelists discussed whether a personalized system is moral or democratic, how such a system could be implemented, and the benefits and drawbacks of shifting from uniform to personalized law. Others explored how the increased granularity of legal norms would affect the legal system as a whole, whether personalization will make the legal system more efficient, fair, or equal, or instead serve to undermine the legitimacy of the legal system and infringe on individual privacy.

Read ‘Personalizing the Law’
The University of Chicago Law School held its seventh annual Summer Institute in Law and Economics last month, drawing 62 scholars from 20 countries and continuing a tradition that has led to a growing number of conferences and collaborations around the world.
The University of Chicago Law School held its seventh annual Summer Institute in Law and Economics last month, drawing 62 scholars from 20 countries and continuing a tradition that has led to a growing number of conferences and collaborations around the world.
Omri Ben-Shahar [shown at the 2015 Institute], the Leo and Eileen Herzel Professor of Law and Kearney Director of the Coase-Sandor Institute for Law and Economics, launched the Summer Institute in 2012 in an effort to share the Law School’s signature interdisciplinary field with the world. Since then, the Summer Institute has trained nearly 500 top international scholars.
Omri Ben-Shahar [shown at the 2015 Institute], the Leo and Eileen Herzel Professor of Law and Kearney Director of the Coase-Sandor Institute for Law and Economics, launched the Summer Institute in 2012 in an effort to share the Law School’s signature interdisciplinary field with the world. Since then, the Summer Institute has trained nearly 500 top international scholars.
During the intensive, two-week program, participants took four mini-classes, heard from distinguished speakers over lunch, and attended a variety of special events.
During the intensive two-week program, participants took four mini-classes, heard from distinguished speakers over lunch, and attended a variety of special events.
Tom Ginsburg, the Leo Spitz Professor of International Law, taught a class on Constitutional Law and Economics.
Tom Ginsburg, the Leo Spitz Professor of International Law, taught a class on Constitutional Law and Economics.
Adam Chilton, Assistant Professor of Law, lectured on the Economic Analysis of International Law.
Adam Chilton, Assistant Professor of Law, lectured on the Economic Analysis of International Law.
Participants learned about the Economic Analysis of Courts from William Hubbard, Professor of Law.
Participants learned about the Economic Analysis of Courts from William Hubbard, Professor of Law.
Richard McAdams, Bernard D. Meltzer Professor of Law, taught on the Economics of Crime and Public Law Enforcement.
Richard McAdams, the Bernard D. Meltzer Professor of Law, taught on the Economics of Crime and Public Law Enforcement.
"It was a wonderful experience for me to learn Law & Economics in its birthplace,” said Wu Yu, an assistant professor at Wuhan University in China. “I met a lot of excellent law professors and economists who gave us some impressive, prospective and instructive lectures. I am very sure that the learning in the well-organized Summer Institute will benefit my research in the future."
"It was a wonderful experience for me to learn law and economics in its birthplace,” said Wu Yu [center], an assistant professor at Wuhan University in China. “I met a lot of excellent law professors and economists who gave us some impressive perspective and instructive lectures. I am very sure that the learning in the well-organized Summer Institute will benefit my research in the future."
Participants also heard a variety of lunchtime speakers, including Ben-Shahar, who spoke about the rise of personalized law.
As part of the Distinguished Guest Lecturer series, participants heard from a variety of experts over lunch, including Ben-Shahar, who spoke about the rise of personalized law.
Other speakers included Martha Nussbaum, the Ernst Freund Distinguished Service Professor of Law and Ethics, who gave a talk titled, ““The Capabilities Approach: A Fruitful Partnership Between Economics and Philosophy.”
Other speakers included Martha Nussbaum, the Ernst Freund Distinguished Service Professor of Law and Ethics, who gave a talk titled, “The Capabilities Approach: A Fruitful Partnership Between Economics and Philosophy.”
Eric Posner, the Kirkland and Ellis Distinguished Service Professor of Law, spoke about “Radical Markets,” the title of his new book, which examines how a truly free market could reinvigorate democracy.
Eric Posner, the Kirkland and Ellis Distinguished Service Professor of Law, spoke about "Radical Markets," the title of his new book, which examines how a truly free market could reinvigorate democracy.
Steven Levitt, the William B. Ogden Distinguished Service Professor of Economics at the University of Chicago, spoke about “Learning from Data.”
Steven Levitt, the William B. Ogden Distinguished Service Professor of Economics at the University of Chicago, gave a talk titled “Learning from Data.” Participants had opportunities to talk with the speakers after their presentations.
“The intellectual environment at the Summer Institute makes this experience exceptional,” said Vanessa Villanueva Collao, a scholar from Peru [shown talking to Sandor]. “After classes, we had the opportunity to have lunch with distinguished professors and have long discussions about Law and Economics. I have met scholars and practitioners from all over the world, which enriched my knowledge about the multiple applications of this methodology.”
“The intellectual environment at the Summer Institute makes this experience exceptional,” said Vanessa Villanueva Collao, a scholar from Peru [shown talking to Dr. Richard Sandor]. “After classes, we had the opportunity to have lunch with distinguished professors and have long discussions about Law and Economics. I have met scholars and practitioners from all over the world, which enriched my knowledge about the multiple applications of this methodology.”
Some of the participants were invited to present their own scholarly work and received feedback from Chicago faculty at a summer institute colloquia.
Some of the participants were invited to present their own scholarly work at a Summer Institute colloquium, where they received feedback from Law School faculty.
“Presenting a paper at the Scholars Colloquium is a thrilling experience,” said Ivo Gico, Jr., a Brazilian law professor and the editor-in-chief of the country’s only L&E law review. “I really enjoyed the excitement of sharing and testing my ideas in front of such a qualified audience. I believe both Ph.D. candidates and seasoned professors benefit equally from the constructive discomfort of honest intellectual engagement.”
“Presenting a paper at the Scholars Colloquium is a thrilling experience,” said Ivo Gico, Jr., a Brazilian law professor and the editor-in-chief of the country’s only law-and-economics law review. “I really enjoyed the excitement of sharing and testing my ideas in front of such a qualified audience. I believe both PhD candidates and seasoned professors benefit equally from the constructive discomfort of honest intellectual engagement.”
Participants also enjoyed an outdoor picnic at Promontory Point.
Participants also discussed ideas and built relationships in several relaxed settings, such as an outdoor picnic at Promontory Point.
At the Quad Club, they mingled with and heard a talk by Dr. Richard Sandor, the Aaron Director Lecturer in Law and Economics and Chairman and CEO of Environmental Financial Products.
During a reception at the University's Quadrangle Club, the scholars mingled with and heard a talk by Dr. Richard Sandor, the Aaron Director Lecturer in Law and Economics and Chairman and CEO of Environmental Financial Products.
Near the end of the session, they celebrated the experience with a garden party at Ben-Shahar’s home.
Near the end of the session, they celebrated the experience with a garden party at Ben-Shahar’s home.
"The experience of attending the Summer Course was transformative for my academic development,” said Carina de Castro Quirino, a professor from Brazil. “There were very interesting debates and innovative ideas. The interaction of professors from Chicago Law School and scholars from around the world provided an essential space for … the critical development of law and economics."
"The experience of attending the Summer Course was transformative for my academic development,” said Carina de Castro Quirino, a professor from Brazil. “There were very interesting debates and innovative ideas. The interaction of professors from the University of Chicago Law School and scholars from around the world provided an essential space for … the critical development of law and economics."
photo of group at Ben-Shahar's home
Ben-Shahar looks forward to "meeting new participants in 2019, when the Summer Institute will offer a first-rate program on 'The Regulation of Markets, Data, and Technology.'"
Exploring Law and Economics at the Seventh Annual Summer Institute

"The experience of attending the Summer Course was transformative for my academic development,” said Carina de Castro Quirino, a professor from Brazil. “There were very interesting debates and innovative ideas. The interaction of professors from the University of Chicago Law School and scholars from around the world provided an essential space for … the critical development of law and economics."

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