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For particularly helpful comments, I am grateful to Margaret Blair, George S. Geis, Jeffrey N. Gordon, Allan L. Gropper, Rich Hynes, Stacey Iris, Robert J. Jackson Jr, Alvin K. Klevorick, Jody S. Kraus, Jonathan M. Landers, Paul G. Mahoney, Richard G. Mason, Richard A. Posner, Randall S. Thomas, and William H. Widen. This Article also benefited from discussions at faculty workshops at Vanderbilt University Law School and the University of Virginia School of Law. Gabriel Gillett provided excellent research assistance.

The authors coteach a clinical course on wrongful convictions of youth and have worked together as cocounsel on numerous cases of false and contaminated confessions.

Thanks to Daniel Abebe, Bernard Harcourt, Rick Hills, Trevor Morrison, Eric Posner, and Adrian Vermeule for their insightful and helpful comments, and to Eileen Ho for excellent research assistance. I am especially grateful to Professor Posner for graciously suggesting that I look closely at one of his books. I am pleased to acknowledge the support of the Frank Cicero, Jr Faculty Fund. All errors herein are mine alone.

I am grateful to Barry Adler, Christopher Bruner, Joshua Fairfield, Anna Gelpern, Clay Gillette, Claire Hill, Margaret Howard, Richard Hynes, Tom Jackson, Lyman Johnson, John Langbein, Michael McConnell, Joshua Rauh, Roberta Romano, and to participants at the Yale Law School Corporate Law Center breakfast program in New York City, the State and Municipal Default Workshop at the Hoover Institution, the law and economics seminar at the University of Minnesota Law School, and a faculty workshop at Washington and Lee School of Law for helpful comments and conversation; to Bill Draper for comments and legislative analysis; to Elizabeth Hendee, Albert Lichy, David Payne, and Spencer Pepper for research assistance; to the University of Pennsylvania Law School for generous summer funding; and to the editors of The University of Chicago Law Review for terrific editorial suggestions.

Sincere thanks to Ed Brunet, Arthur Bryant, Sergio Campos, Howard Erichson, Brian Fitzpatrick, Samuel Issacharoff, Margaret Lemos, David Marcus, Geoffrey Miller, Alexander Reinert, Judith Resnik, Charles Silver, Alex Stein, Stewart Sterk, Jean Sternlight, James Tierney, Stephen Ware, and Adam Zimmerman, as well as participants in the Cardozo Law School summer brown bag series, for thoughtful comments. All errors are our own.

We thank Rebecca Aviel, Ben Barros, Ursula Bentele, Peter Byrne, Michael Cahill, Ed Cheng, John Echeverria, George Fisher, Susan Herman, Brian Lee, Amnon Lehavi, Gregg Macey, Jonathan Masur, Jon Michaels, Eduardo Peñalver, Jim Pfander, Shelley Saxer, Nelson Tebbe, Jay Tidmarsh, Alan Trammell, and the faculty workshop participants at Vanderbilt Law School for helpful comments and conversations. We thank Liz Austin, Andrew Kenny, Tammy Wang, and the staff of the University of Chicago Law Review for truly fantastic editorial guidance. And we thank the Brooklyn Law School Dean’s Summer Research Stipend Program for its financial support.

Thanks to Ty Alper, Michelle Wilde Anderson, Robert Bartlett, Holly Doremus, Dan Farber, Prasad Krishnamurthy, Brian Leiter, Katerina Linos, Prasad Krishnamurthy, Anup Malani, Emily Hammond Meazell, Martha Nussbaum, Dave Owen, Eric Posner, Bertrall Ross, Adam Samaha, Joseph Sax, Eleanor Swift, David Takacs, David Weisbach, David Winickoff, and Katrina Wyman, and participants at workshops at UC Berkeley School of Law, the University of Chicago Law School, the University of Maine School of Law, the Law and Society Association 2011 Annual Meeting, and the Colloquium on Environmental Scholarship at Vermont Law School for helpful comments. Thanks to Santosh Sagar, Jill Jaffe, Jennifer Aengst, Zachary Markarian, and Jessica Cheng for research assistance.