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Full-Text Articles in Legal Theory
Against Endowment Theory: Experimental Economics And Legal Scholarship, Gregory Klass, Kathryn Zeiler
Against Endowment Theory: Experimental Economics And Legal Scholarship, Gregory Klass, Kathryn Zeiler
Georgetown Law Faculty Publications and Other Works
Endowment theory holds the mere ownership of a thing causes people to assign greater value to it than they otherwise would. The theory entered legal scholarship in the early 1990s and quickly eclipsed other accounts of how ownership affects valuation. Today, appeals to a generic “endowment effect” can be found throughout the legal literature. More recent experimental results, however, suggest that the empirical evidence for endowment theory is weak at best. When the procedures used in laboratory experiments are altered to rule out alternative explanations, the “endowment effect” disappears. This and other recent evidence suggest that mere ownership does not …
Foreword: Academic Influence On The Court, Neal K. Katyal
Foreword: Academic Influence On The Court, Neal K. Katyal
Georgetown Law Faculty Publications and Other Works
The months leading up to the Supreme Court’s blockbuster decision on the Affordable Care Act (ACA) were characterized by a prodigious amount of media coverage that purported to analyze how the legal challenge to Obamacare went mainstream. The nation’s major newspapers each had a prominent story describing how conservative academics, led by Professor Randy Barnett, had a long-term strategy to make the case appear credible. In the first weeks after the ACA’s passage, the storyline went, the lawsuit’s prospects of success were thought to be virtually nil. Professor (and former Solicitor General) Charles Fried stated that he would “eat a …