Welfare economics and social choice, law and
economics, and related topics.
A Short Course in Intermediate Microeconomics with
Calculus, 2013, co-authored with Roberto Serrano, was recently published
by Cambridge University Press. This is an intermediate level undergraduate
microeconomics textbook aimed at university students worldwide. It assumes
some prior coursework in calculus. Our book is now used as text in Economics
1110 at Brown University. It has been translated into Spanish and Chinese.
Comparative
Vigilance, American Law and Economics Review, 2009, with Ram
Singh, is an exciting paper about a tort liability rule that punishes
negligence when both parties to an accident are negligent, rewards vigilance
when both parties are vigilant, is continuous, and is efficient. A
Simple Guide to Comparative Vigilance, Asian Journal of Law and
Economics, 2011, also with Ram Singh, is a non-mathematical version of
the comparative vigilance paper. It has one example and no proofs.
Welfare Economics and Social Choice Theory, 2nd
Edition, published by Springer in 2006, was co-authored with Roberto
Serrano. A table of contents is available, as are selected chapters: Contents; Ch. 4
-Welfare Properties of "Jungle Exchange"; Ch. 11 - Life and Death Choices. Prof. Serrano
and I also published a short and simple paper on Arrow's theorem, which grew
out of our book chapter on Arrow. The paper is Arrow's
Impossibility Theorem: Two Simple Single-Profile Versions, available in
the Harvard College Mathematics Review, 2008. A shorter version of
the paper, with just one single-profile theorem, is: Arrow's Impossibility
Theorem: Preference Diversity in a Single-Profile World.
Victim
or Injurer, Small Car or SUV: Tort Liability Rules Under Role-Type
Uncertainty, with Jeonghyun Kim, appeared in International Review of
Law and Economics, 2006. In this paper we developed a model of liability
rules and accidents where a party's role in an accident (victim or injurer)
is not known in advance. We extended the model to vehicle collisions where
the size of one's car affects the probability that one is the victim.
The
Hand Rule and United States v. Carroll Towing Co. Reconsidered, with
Jeonghyun Kim, appeared in American Law and Economics Review, Fall
2005. This is a reexamination of the liability formula invented by
Judge Learned Hand many years ago, and adopted as a fundamental principle by
subsequent scholars of law and economics. We argued that the interpretation
of the formula common in the literature is inconsistent with what Judge Hand
wrote in his often-quoted opinion.
In recent years I taught the following courses: Investments
(Econ. 1710), Economics and the Law (Econ. 1380), and Welfare Economics
(Econ. 1170). However I am now emeritus, which means I am retired from
teaching.
My CV
describes appointments, publications, services, honors, and so on, and it
also includes a brief description of my activities as a consultant.
Last updated January 2016.
