Law and Economics

Thanks for helpful comments to Ittai Bar-Siman-Tov, Will Baude, Noa Ben-Asher, Brett Dakin, Elizabeth Emens, Robert Ferguson, Chad Flanders, Abbe Gluck, Jamal Greene, Adam Gustafson, Ranjit Hakim, Philip Hamburger, Joseph Landau, Jennifer Laurin, Henry Monaghan, Jessica Roberts, Bertrall Ross, Elizabeth Schneider, Henry Smith, James Stewart, Tracy Thomas, Andrew Varcoe, and workshop participants at Columbia Law School.

I thank Richard Epstein, Mark Lemley, Saul Levmore, Doug Lichtman, and participants at the Licensing of Intellectual Property Symposium at The University of Chicago Law School for helpful comments. I also thank Joe Bingham for excellent research assistance.

This research has been supported by grants from the John M. Olin Foundation and the University of Virginia Law School Foundation. The authors wish to thank Diego Leclery, Nevin Tomlinson, and Michelle Grabner of the School of the Art Institute of Chicago for helping organize the study and Meg Scalia, Lindsay Bartlett, Doug Boyle, and Daniel Crone for their superb research assistance. The authors are grateful for helpful comments received from Margo Bagley, Tom Chen, John Duffy, Dave Fagundes, Dan Gilbert, Wendy Gordon, Paul Heald, Laura Heymann, Andy Johnson-Laird, Kay Kitagawa, Ed Kitch, Oskar Liivak, Orly Lobel, Lydia Loren, Jonathan Masur, Greg Mitchell, Jeff Rachlinski, Matt Sag, Rebecca Tushnet, Alfred Yen, and participants at the Licensing of Intellectual Property Symposium at The University of Chicago Law School, the Intellectual Property Scholars Conference at the UC Berkeley School of Law, and workshops at the UCLA School of Law, the Lewis & Clark Law School, and the University of Michigan Law School.

I am grateful to Lee Fennell, Saul Levmore, Ariel Porat, David Schwartz, and participants at two workshops in Chicago for helpful discussions.

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.

I thank Daniel Abebe, Barry E. Adler, Kenneth Ayotte, Adam B. Badawi, Douglas G. Baird, Omri Ben-Shahar, Erin M. Casey, Stephen Choi, Lee Anne Fennell, Joseph A. Grundfest, M. Todd Henderson, William Hubbard, Mitchell Kane, Ashley Keller, Randall L. Klein, Saul Levmore, Douglas Lichtman, Anup Malani, Troy McKenzie, Jon D. Michaels, Anthony Niblett, Randal C. Picker, Eric Posner, Robert K. Rasmussen, Andres Sawicki, Naomi Schoenbaum, Julia Simon-Kerr, Richard Squire, Lior Strahilevitz, Matthew Tokson, George G. Triantis, Noah Zatz, participants at the Annual Meeting of the American Law and Economics Association, participants at the Annual Meeting of the Midwestern Law and Economics Association, participants at the University of Chicago Law School Faculty Works-in-Progress Workshop, participants at the University of Southern California Center in Law, Economics, and Organization Workshop, and the faculties of Columbia Law School, Cornell Law School, Emory Law School, Marquette University Law School, Stanford Law School, the University of Alabama School of Law, University of California Irvine School of Law, the University of Chicago Law School, University of Colorado Law School, University of Georgia Law School, the University of Minnesota Law School, and Vanderbilt University Law School for helpful comments and discussion.

The author thanks Ishan Bhabha, Christopher Buccafusco, Mark Egerman, Sam Erman, Richard Fallon, Terry Fisher, Sandy Henderson, Richard Posner, David Post, Henry Smith, Rebecca Stone, Cass Sunstein, and Elisabeth Theodore for comments and advice on previous drafts.

Prepared for the Understanding Education in the United States: Its Legal and Social Implications Symposium held at the University of Chicago Law School on June 17 and 18, 2011. I am grateful to participants in that conference for helpful comments and to Gabrielle Holburt, Alice Hwang, Yuan Ji, Christine Ku, Jimmy Li, and Julie Wang for research assistance. I am also grateful to the University of Chicago Law Review for excellent editorial assistance.