The Normative Foundations of the Market

Hanoch Dagan is the Stewart and Judy Colton Professor of Legal Theory and Innovation and the Director of the Edmond J. Safra Center for Ethics at Tel-Aviv University. Professor Dagan is a former Dean of Tel Aviv University Faculty of Law and also served as the founding director of the Zvi Meitar Center for Advanced Legal Studies, the director of The Cegla Center for Interdisciplinary Research of the Law, and the Editor in Chief of Theoretical Inquiries in Law. Among his many publications are over 90 articles in major law reviews and journals, such as Yale Law Journal, Columbia Law Review, New York University Law Review and more. Professor Dagan has also written seven books, including Property: Values and Institutions (Oxford University Press, 2011), Reconstructing American Legal Realism & Rethinking Private Law Theory (Oxford University Press, 2013), and The Choice Theory of Contracts (with Michael A. Heller) (Cambridge University Press, 2017). His new book – A Liberal Theory of Property – is forthcoming this year with Cambridge University Press. Professor Dagan has been a visiting professor at Yale, Columbia, Michigan, Cornell, UCLA, and Toronto. Dagan delivered keynote speeches and endowed lectures at Singapore, Alabama, Toronto, Queensland, Cape Town, Monash (Melbourne), and Oxford. He is a member of the American Law Institute and the International Academy of Comparative Law. Dagan obtained his LL.M. and J.S.D. from Yale Law School after receiving his LL.B., summa cum laude, from Tel Aviv University.

Julian Jonker is an assistant professor at The Wharton School of the University of Pennsylvania. He works in moral philosophy, legal theory, and business ethics. A general theme in his work is that social institutions such as rights and markets are concerned with regulating the control that individuals and organizations are able to exercise over each other. His work begins with the simple observation that, while control is of importance to us, we are not always able to exercise control over the things that matter to us, and that we do not always want to. Markets are justifiable insofar as they allocate rights and other relational normative statuses that regulate these permissible and inevitable disparities in control. That leads to important insights into (for example) what is wrong with discrimination, overly risky product design, and exploitation and other abuses of market power.

Professor Jonker is a South African citizen and studied law in South Africa shortly after the democratic transition and the certification of the post-apartheid constitution. While a researcher at the District Six Museum and graduate student at the University of Cape Town he wrote about the legal and ethical dimensions of cultural property.

Kimberly Krawiec’s current research analyzes “taboo trades” — exchanges that are contested by society and, in some cases, forbidden altogether. She has written on commercial surrogacy, egg and sperm markets, and sex work. At the moment, much of her work is on incentives for organ donation. Although financial incentives are part of the menu, she is most interested in nonfinancial incentives, such as kidney swaps, NEAD chains and priority systems that provide an incentive to donate. 

Another area of her research centers on the regulation of financial markets and business organizations. Krawiec has extensively examined the administrative process surrounding the Volcker Rule, a complex and highly contested provision of the Dodd-Frank Act. She has also researched corporate boards of directors. Through an ethnographic method, this work analyzes directors’ views on the workings of the corporate boardroom and board relations with management, with a special emphasis on directors’ views on race and gender diversity in the boardroom.  

Prior to joining academia, Krawiec was a member of the commodity and derivatives group at the New York office of Sullivan & Cromwell. She has served as a commentator for the Central European and Eurasian Law Initiative (CEELI) of the American Bar Association and on the faculty of the National Association of Securities Dealers Institute for Professional Development at the Wharton School of Business. She earned her juris doctorate from Georgetown University and a bachelor’s degree from North Carolina State University.

Krawiec also has taught law at Duke Law School, the University of North Carolina, Harvard and Northwestern, where she received the 1999-2000 Robert Childres Award for Teaching Excellence.

Colin Mayer is Emeritus Professor of Management Studies at the Saïd Business School at the University of Oxford and Visiting Professor at the Blavatnik School of Government at the University of Oxford.  He is a Fellow of the British Academy, the Centre for Economic Policy Research and the European Corporate Governance Institute, an Emeritus Fellow of Wadham College, Oxford, an Honorary Fellow of Oriel College, Oxford and St Anne’s College, Oxford, and he has an Honorary Doctorate from Copenhagen Business School.  He is co-chair of the Scottish Government Business Purpose Commission, a member of the Board of Trustees of the Oxford Playhouse, and he was a member of the UK Government Natural Capital Committee, the UK Competition Appeal Tribunal and the International Advisory Board of the Securities and Exchange Board of India.  He was chairman of Oxera Ltd. between 1986 and 2010 and a director of the energy modelling company, Aurora Energy Research Ltd between 2013 and 2020.  He was appointed Commander of the Order of the British Empire (CBE) in the 2017 New Year Honours.  Between 2017 and 2021, he led the British Academy enquiry into “the Future of the Corporation” and his most recent book Prosperity: Better Business Makes the Greater Good is published by Oxford University Press.