Publications

Scholarly Publications

  • Who Captures the Rents from Unionization? Insights from Multiemployer Pension Plans (forthcoming, AMERICAN UNIVERSITY BUSINESS LAW REVIEW)
  • Using Bond Trades to Pay for Third-party Research, 5 VA. LAW & BUS. REV. 481 (2011)
  • Myths about Mutual Fund Advisory Fees: Economic Insights on Jones v. Harris, 35 J. CORP. LAW 561 (2010)
  • The Ethics of “Commercial Bribery”: Integrative Social Contract Theory Meets Transaction Cost Economics, 88 J. BUS. ETHICS 791 (2010) (available at http://www.springerlink.com/content/w87186jg4r381470/)
  • Mutual Funds, book chapter in FINANCE ETHICS: CRITICAL ISSUES IN THEORY AND PRACTICE (ed. John R. Boatright, New York: Wiley, 2010)
  • Salmon, Science, and Reciprocity on the Northwest Coast, 14 JOURNAL OF ECOLOGY AND SOCIETY Article 43 (2009)(available at http://www.ecologyandsociety.org/vol14/iss2/art43)
  • Cybersecurity in the National Market System, 61 RUTGERS BUSINESS LAW JOURNAL 1 (2009)
  • The SEC’s 2006 Soft Dollar Guidance: Law and Economics, 30 CARDOZO LAW REVIEW 1545 (2009)
  • The SEC’s Mistaken Ban on Directed Brokerage:  A Transaction Cost Analysis, 40 ARIZONA STATE LAW JOURNAL 1241 (2008)
  • Can Third-party Payments Benefit the Principal? The Case of Soft Dollar Brokerage(with Stephen M. Horan), 28 INTERNATIONAL REVIEW OF LAW & ECONOMICS 56 (2008)
  • The Si’lailo Redux (review of The Si’lailo Way: Indians, Salmon and Law on the Columbia River by Joseph C. Dupris, Kathleen S. Hill, and William H. Rodgers, Jr.), 10 GREEN BAG 2D 245 (2007)
  • Prevention is Better Than Cure: The Role of IPO Syndicates in Precluding Information Acquisition (with Yoram Barzel & Michel A. Habib), 79 JOURNAL OF BUSINESS 2911 (2006)
  • A Culturally Correct Proposal to Privatize the British Columbia Salmon Fishery (in SELF DETERMINATION: THE OTHER PATH FOR NATIVE AMERICANS, Stanford University Press, Terry Anderson and Bruce Benson, eds., 2006)
  •  The Evolution of Sherman Act Jurisdiction: A Roadmap for Competitive Federalism, 7 UNIVERSITY OF PENNSYLVANIA JOURNAL OF CONSTITUTIONAL LAW 403 (2004)(with Moin A. Yahya)
  • A Geographic Market Power Test for Sherman Act Jurisdiction (with Moin A. Yahya) in COMPETITION LAWS IN CONFLICT: ANTITRUST JURISDICTION IN THE GLOBAL ECONOMY (2004, American Enterprise Institute: Richard A. Epstein and Michael S. Greve, eds.)
  • A Critical Look at Socially Responsible Investing, 43 JOURNAL OF BUSINESS ETHICS 219 (2003)
  • Fish, Law, and Colonialism: The Legal Capture of Salmon in British Columbia, by Douglas C. Harris, ECONOMIC HISTORY NET, http://www.eh.net/BookReview/reviews/0260.shtml (January 2003)(book review)
  • Customary Law, Scientific Knowledge, and Fisheries Management among Northwest Coast Tribes, 10 N.Y.U. ENVIRONMENTAL LAW JOURNAL 1 (2001)
  • The Private Placement of Debt and Outside Equity as an Information Revelation Mechanism, 13 REVIEW OF FINANCIAL STUDIES 1017 (2000)(with Michel A. Habib)
  • Titles, Conflict, and Land Use: The Development of Property Rights and Land Reform on the Brazilian Amazon Frontier, by Lee J. Alston, Gary D. Libecap, and Bernardo Mueller,  ECONOMIC HISTORY NET, http://www.eh.net/BookReview/reviews/0260.shtml (July 2000)(book review)
  • The Welfare Effects of Soft Dollar Brokerage: Law and Economics (with Stephen M. Horan) (monograph from the ASSOCIATION FOR INVESTMENT MANAGEMENT AND RESEARCH, 2000)
  • Daubert, the Scientific Method, and Economic Theory, 9 KANSAS JOURNAL OF LAW AND PUBLIC POLICY 149 (1999)
  • The Financing and Redeployment of Specific Assets, 59 JOURNAL OF FINANCE 693 (1999) (with Michel A. Habib)
  • The Economics and Ethics of Soft Dollar Brokerage, 104 BUSINESS & SOCIETY REVIEW 21 (1999)
  • Aboriginal Slavery on the Northwest Coast of North America, by Leland H. Donald, 58 JOURNAL OF ECONOMIC HISTORY 1160 (Dec. 1998)(book review)
  • Spinoffs and Information, 6 JOURNAL OF FINANCIAL INTERMEDIATION 153 (1997) (with Michel A. Habib and Narayan Naik)
  • The Quasi-Rent Structure of Corporate Enterprise: A Transaction Cost Theory, 44 EMORY LAW JOURNAL 1277 (1995)
  •  Property Rights to Investment Research: The Agency Costs of Soft Dollar Brokerage, 11 YALE JOURNAL ON REGULATION 75 (1994)
  • The Economic Structure of Corporate Law, by Frank H. Easterbrook and Daniel R. Fischel, book review in 525 THE ANNALS OF THE AMERICAN ACADEMY OF POLITICAL AND SOCIAL SCIENCE 200(January 1993) (book review)
  • The Incentive Effects of Soft Dollar Brokerage, book chapter in MODERNIZING U.S. SECURITIES REGULATIONS: ECONOMIC AND LEGAL PERSPECTIVES (edited by Kenneth Lehn & Robert W. Kamphuis: 1992)
  • Property Rights to Cartel Rents: The Socony-Vacuum Story, 34 JOURNAL OF LAW & ECONOMICS 177 (1991)
  • The Madison Oil Case: A Study of Cartel Behavior (1987, Univ. of Washington Press)(Ph.D. dissertation)
  • Wealth is Value, 15 JOURNAL OF LEGAL STUDIES 263 (1986)
  • The Formation and Protection of Property Rights Among the Southern Kwakiutl Indians, 15 JOURNAL OF LEGAL STUDIES 41 (1986)

Invited Papers, Consulting Studies, Public Comments, Popular Press

  • Public comment on the SEC’s Commission Guidance Regarding the Duties and Responsibilities of Investment Company Boards of Directors with Respect to Investment Adviser Portfolio Trading Practices, September 30, 2008
  • A Modern Potlatch? Privatizing British Columbia Salmon Fishing, 24 PERC REPORTS 15 (2006)
  • Letter with Comments on proposed Soft Dollar Guidance to William C. Donaldson, Chairman, U.S. Securities & Exchange Commission, March 30, 2004 (consulting study)
  • Hard Facts on Soft Dollars, BARRONS, March 15, 2004, p. 20
  • Impacts of High Energy Price Scenarios on Energy-Intensive Sectors: Perspectives from Industry Workshops, Petroleum Industry Working Group, Argonne National Laboratory (1996)(consulting panelist)
  • Agency Theory and the Case for Soft Dollars, PENSIONS & INVESTMENTS, April 19, 1993, p. 12
  • Report to the U.S. Securities & Exchange Commission on Soft Dollar Brokerage, October 19, 1992 (consulting study)
  • Hard on Soft Commissions, FINANCIAL TIMES, March 24, 1992, p. 20
  • A Hard Look at Soft Dollars, CHIEF EXECUTIVE, May 1992
  • Opposing Views of Soft Commissions, LONDON STOCK EXCHANGE QUARTERLY, Spr. 1992

Working Papers, Research in Progress

  • The Limits of Mandatory Disclosure: The Investment Company Act and Regulatory Takings
  • Mutual Fund Conflicts and Regulatory Error: A Property Rights Approach
  • Property Rights and Salmon Husbandry among Northwest Coast Tribes: The Question of Genetic Selection