Law and Economics Seminar

Law and Economics Seminar: Sarath Sanga
4:30 PM - 6:00 PM | Tanenbaum 320
Sarath Sanga , Assistant Professor of Law, Northwestern University Pritzker School of Law

Network Effects in Corporate Governance

Law and Economics Seminar: Jeremy Tobacman
12:00 PM - 1:30 PM | Faculty Lounge
Jeremy Tobacman , Assistant Professor of Economics, University of Delaware Alfred Lerner College of Business & Economics

Rainy Day Credit: Unsecured Credit and Local Employment Shocks

Law and Economics Seminar: Paige Skiba
4:30 PM - 6:00 PM | Tanenbaum 320
Paige Skiba , Professor of Law, Vanderbilt Law School
Time to Repay or Time to Delay? The Effect of Having More Time Before a Payday Loan is Due
Abstract: Payday-loan borrowers pay sizable fees for short-duration loans and often borrow repeatedly. We explore the effects of longer loans, exploiting regulations that give some borrowers an additional pay cycle to repay their initial loan without increased interest charges. We show theoretically that while an exponential discounter would use this “grace period” to save and smooth consumption, naïve borrowers with sufficient present-biased would not because they procrastinate on making consumption sacrifices when due dates are distant. Consistent with predictions under naïve present bias, borrowers with longer loans did not make larger initial loan payments and had similar repeat borrowing patterns.

Law and Economics Seminar: Robert Cooter
4:30 PM - 6:00 PM | Tanenbaum 320
Robert Cooter , Herman F. Selvin Professor of Law, Co-Director, Law and Economics Program, University of California, Berkeley

Law and Economics Seminar: Dr. Amanda Agan
4:30 PM - 6:00 PM | Tanenbaum 320
Dr. Amanda Agan , Affiliated Professor, Program in Criminal Justice, Assistant Professor of Economics, Rutgers University

The Minimum Wage, EITC, and Criminal Recidivism