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. For valuable comments on an earlier draft, we thank Will Baude, Seyla Benhabib, Jessica Bulman-Pozen, Josh Chafetz, Robert Ferguson, Joey Fishkin, David Fontana, Willy Forbath, Barry Friedman, Jeff Gordon, Bernard Harcourt, Olati Johnson, Laura Kalman, Jody Kraus, Daryl Levinson, Anna Lvovsky, Gillian Metzger, Henry Monaghan, Sarah Rajec, Steve Sachs, Fred Schauer, Pierre Schlag, Ian Shapiro, Ganesh Sitaraman, Larry Solum, James Stern, Peter Strauss, Cass Sunstein, Katie Tabb, Eric Talley, Calvin TerBeek, and Mark Tushnet, as well as workshop participants at Columbia Law School and William & Mary Law School. For helpful research assistance, we thank Kendall Collins and Mickey DiBattista.

I am grateful to Michael Abramowicz, Oren Bar-Gill, Ryan Bubb, William Hubbard, Adam Levitin, Hans-Wolfgang Micklitz, Barak Richman, Raaj Sah, Sonja Starr, David Weisbach, Lauren Willis, Kathy Zeiler, and workshop participants at Boston University, The University of Chicago, the Institute for Advanced Study in Berlin, Northwestern University, Sciences Po in Paris, and the University of Toronto for commenting on an earlier draft, and to Irit Brodsky and Holly Newell for research assistance.