This seminar will examine current research by lawyers and economists on a variety of topics in law and economics. Several sessions of the seminar will consist of an invited speaker, usually from another university, who will discuss his or her current research. Representative of these sessions have been discussions of compensation for government regulations and takings, liability rules for controlling accidents, the definition of markets in antitrust analysis, the role of the government as a controlling shareholder, and optimal drug patent length. Special Instructions: You may write a series of short commentaries on the guest speakers' papers, of which there will be four. Students electing this option will be graded on a Mandatory Pass/Restricted Credit/Fail basis and receive 2 units of credit. Alternatively, you may write a single research paper on a law and economics topic of your choice. This will satisfy the Law School's Research requirement. These papers will be graded on an Honors/Pass/Restricted Credit/Fail basis. (You may write a single longer paper for two quarters if you enroll in the Seminar in the Autumn as well.) Students taking the seminar for R credit can take the seminar for either 2 or 3 units of credit, depending on the paper length. After the term begins, students accepted into the course can transfer from section (01) into section (02), which meets the R requirement, with consent of the instructor. There is no formal economics prerequisite to take this seminar, though students doing the longer research papers typically have some prior training in economics. Students may take both Law and Economics Seminar I and Law and Economics Seminar II in either order (neither is a prerequisite for the other). CONSENT APPLICATION: To apply for this course, students must complete and e-mail the Consent Application Form available on the SLS Registrar's Office website (see Registration and Selection of Classes for Stanford Law Students) to the instructor. See Consent Application Form for submission deadline. Elements used in grading: Four commentaries or one research paper. Cross-listed with Economics (ECON 354).