Edward R. Morrison

EDWARD RUST MORRISON
Columbia Law School
Greene Hall, Room 819
435 W. 116th Street
New York, NY 10025
ed.morrison@law.columbia.edu

EXPERIENCE

COLUMBIA LAW SCHOOL
Professor of Law, 2007 – present
Milton Handler Fellow, 2005 – 2007
Associate Professor of Law, 2003 – 2007
John M. Olin, Jr. Fellow, Center for Law and Economics Studies, 2002–03

UNIVERSITY OF CHICAGO LAW SCHOOL
Visiting Professor, Spring 2008

HON. ANTONIN SCALIA, U.S. SUPREME COURT
Judicial Clerk, 2001‐02

HON. RICHARD A. POSNER, U.S. COURT OF APPEALS, SEVENTH CIRCUIT
Judicial Clerk, 2000‐01

OTHER: Wachtell, Lipton, Rosen & Katz, New York, NY, Summer Associate, 1999; Jackson &
Kelly, Washington, DC, Summer Associate, 1995; Bureau of Economic and Business
Research, Salt Lake City, UT, Research Associate, 1993‐94

EDUCATION

UNIVERSITY OF CHICAGO LAW SCHOOL
J.D., with High Honors, 2000
Activities: Articles Editor, University of Chicago Law Review, 1998‐99; Staff Member, 1997‐98
Honors: John M. Olin Prize, to the outstanding graduate in Law and Economics, 2000;
Olin Student Fellowship in Law and Economics, 1995‐96, 1997‐00; Bradley
Foundation Economics Fellowship, 1997‐00; Joseph Henry Beale Prize, for
outstanding work in the first‐year legal research and writing program, 1995

UNIVERSITY OF CHICAGO, DEPARTMENT OF ECONOMICS
Ph.D., 2003; M.A., 1997
Thesis: Bankruptcy Decision‐Making: An Empirical Study of Small‐Business Bankruptcies
Teaching: Teaching Assistant to Profs. Gary S. Becker, James J. Heckman and José S.
Scheinkman
Honors: State Farm Foundation Dissertation Award, 2000‐01; Bradley Foundation
Scholarship, 1997‐99; Honorary Scholar, Univ. Wisconsin‐Madison, Department
of Economics, 2000–2001

UNIVERSITY OF UTAH
B.S., summa cum laude, in Economics and Accounting, with Honors Program Degree, 1994
Honors: Phi Beta Kappa; Phi Kappa Phi Graduate Fellowship, 1994; Honors Baccalaureate
Scholarship, 1994; First Prize, Beta Alpha Psi undergraduate manuscript contest,
1993; Outstanding Scholar Scholarship, School of Business, 1993‐94; Honors
Foreign Study Scholarship in Greece, 1992; full‐tuition scholarship, 1989‐93

TEACHING

Bankruptcy Law: Fall 2003, Spring 2004, Fall 2005, Fall 2007, Spring 2008 (at Univ. Chicago), Fall
2008
Contracts: Fall 2004, Fall 2005, Fall 2006, Fall 2008
Law and Economics Seminar: Fall 2006, Fall 2007, Fall 2008
Empirical Law and Economics Seminar: Spring 2008 (at Univ. Chicago)
Current Issues in Corporate Reorganization: Spring 2004, Spring 2006, Spring 2009
Law & Economics Workshop: 2004‐05, 2005‐06

PUBLICATIONS

Articles: Bankruptcy Decisionmaking: An Empirical Study of Continuation Bias in Small
Business Bankruptcies, 50 J. L. Econ. (2007)

Serial Entrepreneurs and Small Business Bankruptcies, 105 Colum. L. Rev. 2310
(2005) (with Douglas G. Baird)

Financial Contracts and the New Bankruptcy Code: Insulating Markets from Bankrupt
Debtors and Bankruptcy Judges, 13 Am. Bankr. Inst. L. Rev. 641 (2005) (with Joerg
Riegel)

Adversary Proceedings in Bankruptcy: A Sideshow, 79 Am. Bankr. L. J. 951 (2005)
(with Douglas G. Baird)

Derivatives and the Bankruptcy Code: Why the Special Treatment?, 22 Yale J. Reg. 91
(2005) (with Franklin R. Edwards)

Bankruptcy Decisionmaking, 17 J. Law, Econ. & Org. 356 (2001) (with Douglas G.
Baird)

Chapters: Timbers of Inwood Forest, the Economics of Rent, and the Irrelevance of Supreme
Court Precedent, in BANKRUPTCY STORIES (Foundation Press: Robert K.
Rasmussen, ed.) (forthcoming 2007)

Derivatives and Systemic Risk: What Role Can the Bankruptcy Code Play?, in
SYSTEMIC FINANCIAL CRISES (World Scientific Press: Douglas D. Evanoff and
George G. Kaufman, eds.) (2005) (with Franklin R. Edwards)

In Progress: Bargaining around Bankruptcy: Small Business Distress and State Law

Creditor Control and Conflict in Chapter 11 (with Kenneth Ayotte)

Health Shocks and Bankruptcy (with Larry Cook, Heather Keenan, and Lenora
Olson)

Credit Cards, Mortgages, and Debt Substitution (with Christopher Mayer)

Lien Stripping in Bankruptcy and the Availability of Home Mortgages (with Richard
Hynes and Christopher Mayer)

The Bankruptcy Lag (with Richard Hynes)

ECONOMICS OF BANKRUPTCY (Edward Elgar: Edward R. Morrison, ed.)

Comment: Judicial Review of Discount Rates Used in Regulatory Cost‐Benefit Analysis, 65 U. Chi.
L. Rev. 1333 (1998)

Older work: Off‐Balance Sheet Risks: What Are They and Why is Their Disclosure Important?, 11 J.
Acct. Educ. 313 (1993)

Impact of the Salt Lake City Airport on the Utah Economy, 53 Utah Econ. & Bus. Rev.
1 (1993) (second author, Boyd L. Fjeldsted)

GOVERNMENT REPORTS

Small Business Bankruptcy and the Bankruptcy Abuse and Consumer Protection Act of 2005,
commissioned by the Small Business Administration (Government Contract No. SBAHQ‐06‐A‐
0023), pursuant to the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, Pub.
L. No. 109‐8 § 443

INVITED PRESENTATIONS

Health Shocks and Bankruptcy
Harvard/Texas Conference on Commercial Law Realities, February 2008
Columbia Law School, October 2007

Creditor Control and Conflict in Chapter 11
University of Virginia Law School, April 2008
University of Southern California Law School, March 2008
Case Western Law School, February 2008
Columbia Law School, November 2007
University of Pennsylvania School of Law, November 2007
Conference on Empirical Legal Studies (CELS), November 2007
Oxford University, October 2007
Triangle Law & Economics Conference, Duke University, April 2007
Harvard/Texas Conference on Commercial Law Realities, April 2007

Westpoint Stevens in Chapter 11: A Class of Titans
Turnaround Management Association (TMA)/The Deal Distressed Investing Conference,
January 2008

Financial Contracts and the Bankruptcy Code: Safe Harbors with Broad Scope and Uncertain
Justification
Lawrence P. King and Charles Seligson Workshop on Bankruptcy and Business
Reorganization, October 2007
Columbia Law School, Deals Roundtable, October 2006

Bankruptcy’s Rarity: An Essay on Small Business Bankruptcy in the United States
European Company and Finance Review (ECFR) Conference, October 2007

Bargaining around Bankruptcy: Small Business Distress and State Law (and previous titles)
Stanford/Yale Junior Faculty Forum, May 2007
American Law and Economics Association (ALEA) Annual Meeting, May 2007
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Fordham Junior Faculty Forum, March 2007
University of Toronto Faculty of Law, March 2007
Columbia Law School, Faculty Lunch Series, March 2007
National Bureau of Economic Research (NBER), March 2007
Columbia Law School, Contracts and Economic Organization Workshop, March 2007
University of Chicago Law School, February 2007
AALS Annual Meeting, January 2007
Northwestern University, School of Law, November 2006
Georgetown University Law Center, April 2006
Harvard/Texas Conference on Commercial Law Realities, April 2006

Hedge Fund Failures
American Bankruptcy Institute Insolvency Symposium, February 2007

Serial Entrepreneurs and Small Business Bankruptcy
American Law and Economics Association (ALEA) Annual Meeting, May 2005
Harvard/Texas Conference on Commercial Law Realities, April 2005
University of Virginia School of Law, February 2005
Boalt Hall, November 2004
Columbia Law School, October 2004
Cornell Law School, October 2004

Derivatives and Systemic Risk: What Role Can the Bankruptcy Code Play?
Federal Reserve Bank of Chicago International Conference on “Systemic Financial Crises:
Resolving Large Bank Insolvencies,” September 2004

Bankruptcy Decisionmaking: An Empirical Study of Continuation Bias in Small Business Bankruptcies
(and other titles)
Columbia Business School, April 2004
William & Mary School of Law, April 2004
University of Virginia School of Law, February 2004.
Harvard Law School, February, March 2003
Cornell Law School, January 2003
NYU School of Law, January 2003
University of Pennsylvania Law School, January 2003
Northwestern University School of Law, January 2003
Columbia Law School, January 2003
Yale Law School, December 2002
Georgetown Law Center, December 2002
Vanderbilt Law School, December 2002

Page 5 of 8
Theory and Evidence on the Costs of Damages Rules (and other titles)
American Law and Economics Association (ALEA) Annual Meeting, May 2001
University of Chicago Department of Economics, October 2000
Vanderbilt University Law School, October 2000

Bankruptcy Decisionmaking
University of Chicago Law School, May 2000 (with Douglas Baird)
American Law and Economics Association (ALEA) Annual Meeting, May 2000
University of Virginia School of Law, April 2000 (with Douglas Baird)

COMMENTARY AND OTHER PRESENTATIONS

Commentator on Adair Morse, Payday Lenders: Heroes or Villains?, Conference on the Law and
Economics of Consumer Credit, University of Virginia School of Law, February 2008

Commentator on Lynn M. LoPucki and Joseph W. Doherty, The Determinants of Professional Fees
in Large Bankruptcy Reorganization Cases Revisited, Conference on Empirical Legal Studies,
November 2007

Commentator on Kenneth S. Reinker and David Rosenberg, Improving Medical Malpractice
Liability by Allowing the Insurers to Take Charge, University of Chicago Conference on Current
Research on Medical Malpractice Liability, May 2006

Commentator on Katharina Pistor, Who is Tolling the Bells to Firms? Lessons from Transition
Economies, Columbia Law School Faculty Lunch Series, September 2005

Commentator on Victor P. Goldberg, Alcoa v. Essex: Bad Contracts Can Make For Bad Law,
Columbia Law School Faculty Retreat, November 2004

Moderator, Panel Discussion on Hedge Fund Regulation, Columbia Business Law Review 20th
Anniversary Event, April 2006

Moderator, Bankruptcy and Creditors’ Rights II, American Law and Economics Association
(ALEA) Annual Meeting, May 2004

Page 6 of 8
CONFERENCE ORGANIZATION

Roundtable on Hedge Funds, Creditor Control, and Restructuring, Columbia Law School
Transactional Studies Program, New York, NY, Oct. 27, 2006

Federal Judicial Center and Columbia Law School Program for Bankruptcy Judges: Law and
Business, Columbia Law School, New York, NY, April 26‐28, 2005

SERVICE ON COMMITTEES

Co‐Chair, Clerkships & Judicial Relations Committee: 2006‐08
Resources and Development: Fall 2006, Fall 2007
Associates Committee: 2004‐06
Business Task Force: 2004‐07, Fall 2007
Information Technology: 2004‐05
Admissions and Financial Aid: 2003‐04
Student Services: 2003‐04

OTHER SERVICE TO COLUMBIA LAW SCHOOL

Director/Instructor, Leiden‐Amsterdam‐Columbia Summer Program in American Law, The
Netherlands, Director, 2007‐present; Co‐Director, 2006; Instructor, 2004‐05
Member, Board of Directors, Columbia Business Law Review, 2005‐present
Advisor to Annual Survey (on bankruptcy law), Columbia Business Law Review, 2004‐05

SERVICE TO COLUMBIA UNIVERSITY

Dissertation Committee Member for Stav Gaon, Ph.D. Candidate, Columbia Business School
(Spring 2006)
Dissertation Committee Member for Nan Chen, Ph.D. Candidate, Columbia Business School
(Spring 2004)

Page 7 of 8
PROFESSIONAL SERVICE

Conferee, National Bankruptcy Conference, 2007‐present

REFEREE WORK FOR SCHOLARLY JOURNALS

American Bankruptcy Law Journal
American Law and Economics Review
International Review of Law and Economics
Journal of Empirical Legal Studies
Journal of Law and Economics
Journal of Legal Studies
Journal of Political Economy
Law and Social Inquiry

AALS ADMINISTRATION

Chair, Law and Economics Section, 2008
Chair‐Elect, Law and Economics Section, 2007
Secretary, Law and Economics Section, 2005

ASSOCIATION MEMBERSHIP

American Association of Law Schools
American Bankruptcy Institute
American Economics Association
American Law and Economics Association
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Date published: Mar 16, 2009

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