Conventional legal doctrine holds that courts should be more willing to find unconscionability in contracts when either one party has monopoly power or the other party was not given a choice of contract terms. This paper suggests that this doctrine is misguided on both points. I argue that the...

Insider trading is always on the Securities and Exchange Commission’s enforcement agenda. Every year these cases include charges of trading based on material nonpublic information regarding a clinical drug trial conducted to obtain approval to market a new drug. Almost half of those cases are...

The United States faces a critical moment in environmental regulation. As tens of thousands of new unconventional, hydraulically fractured oil and gas wells spring up around the United States, we face a long-term threat of significant soil and water contamination. The current patchwork of state...

In 1789 it was possible to speak of a federation of distinct States joined together for their mutual advantage, but today it is rather the Nation that is divided into subnational units. What caused this shift in focus from the States to the Federal Government? Surely the transformation from a...

The article introduces a contract approach to patent infringement and develops a methodology for finding reasonable royalty damages. The contract approach complements approaches based on property and tort, thus providing a more complete understanding of damages. The article argues that the...

Notwithstanding low capital investment requirements and a market structure that otherwise allows many thousands of competitors in big markets, taxis have long been treated as a regulated industry, with the same legal constraints as once applied to railroads, airlines, telecoms, electric, and...

Given their long tenure and broad powers, Supreme Court Justices are among the most powerful actors in American politics. The nomination process is hard to predict and nominee characteristics are often chalked up to idiosyncratic features of each appointment. In this paper, we present a...

In this essay I explore the connections between public choice and originalism, arguing that public choice is crucial to development of the originalism both in its diffuse popular and more academic form. As Robert Bork's famous article, Neutral Principles and Some First Amendment Problems,...

How should complementarities affect antitrust merger policy? I introduce a two-stage strategic model in which complementary input sellers offer supply schedules to producers and then engage in bilateral bargaining with producers. The main result is that there is a unique weakly dominant strategy...