Theme: ¡°The Evolution of Legal Institutions in the Network Society¡±


Program of the 5th annual conference of the Asian law and economics association


(The last speaker of each session will be the Chair of the session.)

June 20 (Saturday)

8:30 – 9:00 Registration

9:00 – 9:20 Welcoming addresses

9:20 – 10:10 Isaac Ehrlich (SUNY, Buffalo) The Application of Economics to the Study of Crime and Law Enforcement - What Remains to be Done

10:30 – 12:00


Session 20-1A: Consumer protection law


-         Jong In Lee (KCP)   The Impact of Liability Law on Consumer Safety: An Empirical Approach

-         Albert Choi (University of Virginia) Shrink-Wraps: Who Should Bear the Cost of Communicating Mass-Market Contract Terms?


Session 20-1B: Legal compensation


-         Yan Li (University of Southampton) Damages for Breach of Contract in the International Sale of Goods -  China, CISG and English Law

-         Se Hak Chun (Seoul National University of Technology) Vicarious liability rule and apportioning damages for multiple tortfeasors

-         Felix Chan (The University of Hong Kong) Present Value Assessment of Lost Future Earnings: An Empirical Experience from Hong Kong


Session 20-1C: Institution


-         Jae Hyuck Lee (Sogang University) How do social norms matter?

-         Sung Sup Rhee (Soongsil University) Fundamental Coase Theorem and Institutional World of Non-Zero Transaction Cost

-         Jian Wei (Shandong University) The law and economics analysis paradigms: the development history and the prediction of its future


12:00 – 13:30 Lunch

13:30 – 15:20


Session 20-2A: Legal procedure I


-         Sung Hoon Park (Geonggi Research Institute) Contingent fee vs. hourly fee

-         In Gyu Kim (Hallym University) The effects of litigants¡¯ wealth and stake size on litigation outcomes

-         Yasuhiro Ikeda (Kumamoto University) On the Arrangement of Fixed and Contingent Attorney¡¯s Fees

-         Yue Qiao (Shandong Univiersity) Legal Expenses Insurance and Settlement


Session 20-2B: Family law


-         In-Jae Lee (Incheon National University) The Impact of Illegalizing Identification of Fetal Sex on Female Education

-         Brishti Guha (Singapore Management University) Divorce laws, sex ratios and the marriage market


Session 20-2C: Property right I

-         Lilou Jiang (Kyushu University) Commercializing Government-funded Research: China's Reception of the U.S. Bayh-Dole Act

-         Dulal Miah (Ritsumeikan Asia Pacific University) (with Suzuki Yasushi) The Constitutional Protection of Property Rights in South Korea

-         Dennis Khong (University of Manchester) The Economics of Mutual Wills


15:30 – 16:50


Session 20-3A: Property right II


-         Tze-Shiou Chien (Academia Sinica and National Taiwan University) The Economics of Extinctive Prescription

-         Jung Kyoo Choi (Kyungpook National University) The First Property Rights Revolution

-         Jianpei Li (University of International Business and Economics) Partnership dissolution, complementarities and investment incentives


Session 20-3B: Teaching law and economics (Special session) organized by Jeong-Yoo Kim


-         Haksoo Ko (Seoul National University) Teaching law and economics in Korea

-         Shozo Ota (University of Tokyo) Teaching law and economics in Japan

-         Ding Ding (University of International Business and Economics) Teaching law and economics in China

-         Albert Choi (University of Virginia) Comparing the class of law and economics in Econ Dept and Law School


Session 20-3C Transportation Law


-         Sang-Kyu Hwang (Korea Transport Institute) Effects of Bus Regulation Reform on Bus Service

-         Changhwan Mo (Korea Transport Institute) Review on the Regulatory Impact Analysis of the Act of Mobility Improvement for the Transportation Disadvantaged


17:00 – 18:00 General Assembly

18:30 – 20:00 Dinner


June 21 (Sunday)


9:00 – 9:50 Thomas Ulen (University of Illinois, Urbana-Champaign) The Trajectory of Law and Economics


10:00 – 11:30


Session 21-1A: Criminal law


-         Zhenjie Zhou (Waseda Institute for Advanced Study, Waseda Univeristy) Prevention Policy of Corporate Crime in China: Main Problem and Possible Way out

-         Duol Kim and Jee Eun Kim (KDI) Growth of Felonies in Korea after the Financial Crisis

-         Jeong-Yoo Kim (Kyung Hee University) A note on nonmaximality of the optimal fine when the apprehension probability depends on the offense rate


Session 21-1B: Patent law


-         Jun-Byung Oh (Inha University) Incumbents¡¯ response to patent reform: In case of the Korean patent reform of 1994

-         Jing-Yuan Chiou (IMT Lucca) Technology Adoption and Fuzzy Patent Rights

-         Sunha Myong (Seoul National University) The sequential coalition formation in the patent pool game with externality

-         Jinyoung Kim (Korea University) International Knowledge Flows: Evidence from an Inventor-Firm Matched Data Set


Session 21-1C: Anti-trust law (Special session) organized by Jae Nahm


-         Sang-Seung Yi (Seoul National University) A Economic Analysis of POSCO's Refusal to Deal

-         Dong-Pyo Hong (Kim & Chang) Horizontal Merger Test and Efficiency Effects

-         Jae Nahm (Korea University) Merger Simulation in a Two-sided Market


11:30 – 13:00 Lunch


13:00 – 14:20


Session 21-2A: Legal procedure II


-         Jihong Lee and Quingmin Liu (Yonsei University and University of Pennsylvania) The Dynamics of Bargaining Postures: The Role of a Third Party

-         Kong-Pin Chen (Academia Sinica) (with Kuo-Chang Huang, Chang-Ching Lin) Does The Type of Criminal Defense Counsel Affect Case Outcomes? - A Natural Experiment in Taiwan

-         Francis Xavier Rathinam (ICRIER) (with A.V. Raja) Credit Disbursal, Growth and Procedural Law: Evidence from India


Session 21-2B: Finance/banking law


-         Meong Ae Kim (Seoul National University) (with Sung Wook Joh) Internal Equity Investment in Business Groups: Determinants and Effects

-         Ikumi Sato (Kobe University) (with Yoshinobu Zasu) Draft the Convention as ¡®Rules¡¯: Effective Devices in Drafting the Cape Town Convention

-         P.J. Engelen (Utrecht University) The Reputational Penalty for Illegal Insider Trading by Managers


Session 21-2C: Intellectual Property (special session) organized by Reiko Aoki


-         Yasuhiro Arai (Hitotsubashi Univesrity) Intellectual Property Right Protection in the Software Market

-         Youngkwan Kwon (Korea Institute of Science and Technology) The Effects of Patent Pools on Innovation

-         Noriyuki Yanagawa (University of Tokyo) (with Akifumi Ishihara) A Dark Side of Patent Pools with Compulsory Independent Licensing



14:30 – 16:20


Session 21-3A: Economic development and law


-         Gholizadeh, A. (University of Isfahan) Legal aspects of economic relations between South Korea and Iran

-         Jinyul Ju (Pusan National University) A Law and Economics Approach to Resolving the Conflict between Politics and Science in Public Health Risk Regulation under the World Trade Organization

-         Kankesu Jayanthakumaran (University of Wollongong) Trade reforms and income convergence/divergence in the regional India


Session 21-3B: Corporate law


-         Takashi Shimizu (University of Tokyo) Why do we need business corporations? A functional analysis of the legal form

-         Emiliano Sironi (Università Commerciale Luigi Bocconi) (with Carlo Bellavite Pellegrini and Laura Pellegrini) Alternative vs Traditional corporate governance systems: an empirical analysis in Italy

-         Shalini Singh (Banaras Hinduh University) Institution and production function: A case study of small and tiny industries


Session 21-3C: Regulation


-         Tamer Cetin (Zonguldak Karaelmas University) Institutional reform and regulation in Turkey

-         Tikiri Nimal Herath (University of Sri Jayawardenepura) Illegal Arrack Production and Death-Aid Societies in Sri Lanka

-         Hairong Mu (University of York) Politics, regulation and investment in the telecommunications industry

-         Sang Ho Lee (Chonnam National University) Optimal privatization policy with unknown cost of privatized firm