THE 2011 MEETINGS OF

THE CANADIAN LAW AND ECONOMICS

ASSOCIATION
September 23 24, 2011
PROGRAM
(21 September 2011)

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JIM TORY LAW AND ECONOMICS

PUBLIC LECTURE

Innovation Policy, Carbon Pricing and the

Dynamics of Global Warming
by

Professor Ralph A. Winter

Canada Research Chair in Business Economics and Public Policy
Sauder School of Business, University of British Columbia

Bennett Lecture Hall

78 Queens Park
University of Toronto
Friday, September 23, 2011
1:30 2:30 PM

FRIDAY, SEPTEMBER 23, 2011

12:00 1:30

REGISTRATION with a light lunch

Location: Rowell Room, Flavelle House, 78 Queens Park
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1:30 2:30

PUBLIC LECTURE
Professor Ralph A. Winter
Innovation Policy, Carbon Pricing and the Dynamics of Global
Warming
Location: Bennett Lecture Hall

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2:30 2:45

Coffee and Juice

Location: Rowell Room
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2:45 4:15

Session: SECURITIES LAW I

Location: Bennett Lecture Hall
Chair: Poonam Puri

Anita K. Krug, Corporations Beyond Corporate Law: The Failure of the Corporate Governance Paradigm in
U.S. Investment Company Regulation
Joan MacLeod Heminway, Proceed at Your Peril: Crowdfunding and the Securities Act of 1933
Laura N. Beny and Anita Anand, Private Regulation of Insider Trading in the Shadow of Lax Public
Enforcement (and a Strong Neighbor) Evidence from Canadian Firms

2:45 4:15

Session: CORPORATE GOVERNANCE I

Location: FLA
Chair: Edward Iacobucci

V. Atanasov, Bernard Black and I. Love, Causal Inference Strategies in Corporate Governance Research
Claire Hill and Brett McDonnell, Sanitizing Interested Director Transactions
A. Afsharipour, A Shareholders Put Option: Confronting Agency Costs and Behavioral Biases of Acquirer

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Programme as of: 22 September 2011

FRIDAY, SEPTEMBER 23, 2011

2:45-4:15

Session: LAW AND DEVELOPMENT

Location: FLB
Chair: Anthony Niblett

Jos G. Vargas-Hernndez, The Multiple Faces of Corruption: Typology, Forms, and Levels
Kyle Leary, Currency Partnerships: A New Global Poverty Reducing Economic Regime
Mariana Prado, Michael Trebilcock, Joanna Noronha and Tess Bridgeman, An Institutional Analysis of
Educational Policies: The Cases of India and Brazil

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4:15 4:30

Coffee and Juice

Location: Rowell Room
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4:30 6:00

Session: INTELLECTUAL PROPERTY LAW

Location: Bennett Lecture Hall
Chair: Anita Anand

James Bergin, The Impact of Length of Intellectual Property Rights on Welfare

Andrew Torrance, Must Patented Designs be Attractive?
Ariel Katz, The First Sale Doctrine: What Antitrust Can and Cannot Teach

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4:30 6:00

Session: JUDICIAL DECISION-MAKING

Location: FLA
Chair: Benjamin Alarie

Anthony Niblett, Case-by-Case Adjudication and the Path of the Law

Jonathan R. Nash, Expertise and Judicial Opinion Assignment
A. Green and B. Alarie, The Power of the Chief Justice: Choosing Panels on the Supreme Court of Canada

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Programme as of: 22 September 2011

FRIDAY, SEPTEMBER 23, 2011

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4:30 6:00

Session: FINANCIAL REGULATION I

Location: FLB
Chair: Claire Hill

K. Johnson, Hedging vs. Speculation: Social Perceptions, Legal Distinctions, and the Market Efficiency
Sofia Johan, Determinants of Sovereign Wealth Fund Investment in Private Equity
Ann Graham, Lessons from Canada: Crisis-Proofing a National Financial System

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4:30 6:00

Session: THEORY
Location: FLC
Chair: Mariana Mota Prado

Erik Knutsen, Fortuity Clauses in Liability Insurance: Solving Coverage Dilemmas for Intentional and
Criminal Conduct
Brad Borden, Quantitative Inequity in Line-Drawing Analysis
Edward Iacobucci, Costs and Signaling in Proxy Contests

Friday, September 23, 2011

6:15 7:00 p.m.
Cocktails
Trinity College, Sealy Hall
University of Toronto
6 Hoskin Avenue

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7:00 p.m.
Dinner
Trinity College, Sealy Hall

Programme as of: 22 September 2011

SATURDAY, SEPTEMBER 24, 2011

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8:30 9:00

Coffee and Pastries

Location: Rowell Room
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9:00 10:30 Session: INTERNATIONAL TRADE
Location: FLA
Chair: Cherie Metcalf
Veronica Santarosa, Financing Long-Distance Trade without Banks: The Joint Liability Rule and Bills of
Exchange in 18th-century France
Rose Ann MacGillivray, The Impact of Parallel Importation on a Global Economic Recovery
Vanisha Sukdeo, What is the Benefit of a Benefit Corporation?: Examining the Advantages and Detriment

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9:00 10:30 Session: COMPETITION POLICY
Location: FLB
Chair: Edward Iacobucci
Daniel Sokol, Cartels, Corporate Compliance and What Practitioners Really Think About Enforcement
Mike Cloutier, Leniency Programs and Quality of Information

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9:00 10:30 Session: FINANCIAL REGULATION II
Location: FLC
Chair: Fred Tung
Douglas Cumming, Regulatory Induced Performance Persistence: Evidence from Hedge Funds
Andrew Tuch, Regulating Conflicted Financial Conglomerates
Derek Ireland, Business Groups and Competition Policy and Law

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10:30 10:45 Coffee & Juice
Location: Rowell Room

Programme as of: 22 September 2011

SATURDAY, SEPTEMBER 24, 2011

10:45 12:15 Session: FINANCIAL REGULATION III
Location: FLA
Chair:
Michael Simkovic, Is Competition the Solution or the Problem? An Analysis of U.S. Residential Mortgage
Securitization and Treasurys Privatization Plan
Vincent Di Lorenzo, Barriers to Market Discipline: A Comparative Study of Mortgage Market Reforms
Kate Litvak, Using the Correlation Between Stock Prices and Asset Values to Measure Corporate
Governance

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10:45 12:15 Session: BANKRUPTCY AND INSOLVENCY
Location: FLB
Chair: Tony Duggan
Richard Hynes, Steven Walt, and Susan Christoffersen, Abnormal Returns in Failed Bank Auctions
A. Nocilla, Asset Sales Under the Companies' Creditors Arrangement Act and the Failure of Section 36
James Park, Securities Class Actions and Bankrupt Companies

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10:45 12:15 Session: TORT LAW
Location: FLC
Chair: Jonathan Nash
Bernard S. Black and Zenon Zabinski, The Association between Medical Malpractice Risk and Health Care
Quality: Evidence from Texas
Robert Rhee, A Financial Economic Analysis of Punitive Damages

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12:15 1:15 Lunch
Location: Rowell Room
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Programme as of: 22 September 2011

SATURDAY, SEPTEMBER 24, 2011

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1:15 2:45

Session : ENVIRONMENTAL LAW & ECONOMICS

Location: FLA
Chair: Mariana Mota Prado

Vinoli Thampapillai, Environmental and Human Rights to Water in the Murray Darling Basin: The Federal
Water Act 2007, the Water Amendment Act 2008 and Lessons from International Water and Trade Law
Jonathan R. Nash, The Cathedral of Transition Relief in Environmental Law
Cherie Metcalf, Property Rights and Attitudes toward Environmental Protection: An Empirical Investigation

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1:15 2:45

Session: TAX LAW

Location: FLC
Chair: Brad Borden

Ian Caines, Feasibility of Multiple-Bases Income Taxation

Kevin Devereux, Inheritance and Taxation
Ilan Benshalom, Taxing Cash

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2:45 3:00

Coffee & Juice

Location: Rowell Room
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3:00 4:30

Session: LEGAL PROCESS

Location: FLA
Chair: Albert Yoon

Shay Lavie, Discretionary Review and Undesired Cases: Lessons for Institutional Design
Anthony Niblett, Tracking Inconsistent Judicial Behaviour
Verity Winship, Forum Protection

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Programme as of: 22 September 2011

SATURDAY, SEPTEMBER 24, 2011

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3:00-4:30

Session: FINANCIAL REGULATION IV

Location: FLB
Chair: Douglas Cumming

Fred Tung, Pay for Regulator Performance

Gail Henderson, Are Canadian Pension Funds Responsible Investors?
Afrasiab Mirza, Dynamic Prudential Regulation

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3:00 4:30

Session: CRIME
Location: FLC
Chair: Phil Curry

Jason P. Nance, A Legal and Empirical Assessment of Random, Suspicionless Student Searches
Conducted by Public School Officials
Steeve Mongrain, On the Selection of Property Crime with Private Protection

4:30-5:00
Wine & Cheese Reception
Location: Rowell Room

Programme as of: 22 September 2011