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Volume 68, Issue 5


Two Cultures of Punishment

by  Joshua Kleinfeld

As American criminal punishment has become more severe and European more mild, the two systems of punishment have come to represent different cultural possibilities for the modern West. Implicit in American and European punishment are two visions of wrongdoing and wrongdoers, of the terms of the social contract, and of the foundations of rights. American…


The Fourth Amendment as Administrative Governance

by  Daphna Renan

Fourth Amendment law is transactional: it focuses on the one-off interaction typified by the singular investigatory search against a particular suspect for a specific crime. Yet surveillance is increasingly programmatic. It is ongoing and cumulative, and the scope of the executive’s search and seizure power is determined by administrative practice. Vindicating Fourth Amendment values today…


Lobbying and the Petition Clause

by  Maggie McKinley

Contrary to popular opinion, the Supreme Court has not yet resolved whether lobbying is constitutionally protected. Belying this fact, courts, Congress, and scholars mistakenly assume that lobbying is protected under the Petition Clause. Because scholars have shared the mistaken assumption that the Petition Clause protects the practice of “lobbying,” no research to date has looked…


Single-Firm Event Studies, Securities Fraud, and Financial Crisis

Problems of Inference
by  Andrew C. Baker

Lawsuits brought pursuant to section 10(b) of the Securities and Exchange Act depend on the reliability of a statistical tool called an event study to adjudicate issues of reliance, materiality, loss causation, and damages. Although judicial acceptance of the event study technique is pervasive, there has been little empirical analysis of the ability of event studies to produce…