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Apply to be a Law and Economics Fellow

The University of Chicago Law School invites applications for a Law and Economics Fellow, appointed with the rank of Lecturer, for a two-year term, beginning July 1, 2020. Candidates must demonstrate the promise of distinguished legal scholarship and have the ability to develop and teach a graduate level course or seminar in an appropriate subject matter. The successful applicant will teach one one-quarter course or seminar each year and will be expected to publish original scholarship and contribute to the intellectual life of the Law School. Candidates will be evaluated on the basis of grades, publications, recommendations and experience. In assessing potential contributions to the life of the Law School, we value candidates who will contribute diverse backgrounds and perspectives that will enrich and improve student experiences and the Law School's intellectual culture.

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Paris Conference Co-Sponsored by Coase-Sandor Institute Examines Privacy, Data, and Competition

The symposium built on the successful 2017 Paris conference, Big Data and the Law, and took on some of the most challenging questions presented by the data economy.

Story & event video

About the Coase-Sandor Institute for Law and Economics

Building on a long tradition of excellence as the birthplace of law in economics, the University of Chicago Law School launched 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. It supports research and learning by students, faculty and fellows, and organizes events and activities in Chicago and beyond. Read more about the Institute.

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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Adam Chilton on Trump's Block of a Chinese Takeover of a Sensitive US Company

It’s unusual for the president to prohibit sales between private parties like this, but it is perfectly legal where the sale poses national security risks.

The Washington Post
Lisa Bernstein on the Myth of the Law Merchant
LearnIOE
# LIBOR
Richard Sandor Discusses Futures and Options on Business First AM
Business First AM
# LIBOR
Bloomberg on Richard Sandor and His Ameribor Benchmark
Bloomberg
# LIBOR
Richard Sandor's Libor Replacement Examined in Wall Street Journal
The Wall Street Journal
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Working Paper Series

The Spectrum of Procedural Flexibility
Ronen Avraham and William H. J. Hubbard

The Tax Elasticity of Financial Statement Income: Implications for Current Reform Proposals
Dhammika Dharmapala

Do Multinational Firms use Tax Havens to the Detriment of Other Countries?
Dhammika Dharmapala

All working papers →

2020 Coase Lecture

Much of the research on private ordering has focused on small, ethnically homogenous communities. But such a narrow focus has led to misconceptions about the circumstances under which private ordering can thrive, Professor Lisa Bernstein said during the lecture, titled “Re-examining Ethnically Homogeneous Trade: A Social Network Approach.”

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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.

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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."

Summer Institute in Law and Economics

The University of Chicago invites international faculty, advanced scholars, and practitioners to attend the seventh annual Summer Institute. The two-week program is designed to help participants integrate the tools and methods of law and economics into their teaching and research.

Program info

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