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69 J.L. & Econ. [i] (2026)

handle is hein.journals/jlecono69 and id is 1 raw text is: The Journal of LAW & ECONOMICS Edited by Elliott Ash, Dennis W. Carlton, Adam Chilton, Dhammika Dharmapala, Richard Holden, Nathan Miller, Julie Holland Mortimer, and Sam Peltzman Managing Editor A. Robin Hoffman Production Editor Sharon Jennings The Journal of Law and Economics (ISSN 0022-2186) is published quarterly in February, May, August, and November by the University of Chicago Press, 1427 East 60th Street, Chicago, Illinois 60637. Subscription rates: For individual and institutional subscription rates, including reduced rates for students, prices for single copies, and more details on the JLE/JLS combination rates, visit https://www.journals.uchicago.edu, email subscriptions@press.uchicago.edu, or call (877) 705-1878 (US) or (773) 609-3922 (international). Free or deeply discounted access is available to institutions in most developing nations through the Chicago Emerging Nations Initiative (https://www.journals.uchicago.edu/inst/ceni). Subscription inquiries, back-issue requests, and address changes should be directed to Sub- scription Fulfillment, University of Chicago Press, 1427 East 60th Street, Chicago, Illinois 60637. Telephone: (773) 609-3922 or toll free in the United States and Canada (877) 705-1878. E-mail: subscriptions@press.uchicago.edu. University of Chicago Press's appointed EU Representative is Easy Access System Europe Oil, 16879218, Mustamse tee 50, 10621 Tallinn, Estonia. E-mail: gpsr.requests@easproject .com; telephone: +358 40 500 3575. Copying beyond fair use: Articles may be copied or otherwise reused without permission only to the extent permitted by Sections 107 and 108 of the US Copyright Law. Permission to copy articles for personal, internal, classroom, or library use may be obtained from the Copyright Clearance Center (https://www.copyright.com). For all other uses, such as copy- ing for general distribution, for advertising or promotional purposes, for creating new collec- tive works, or for resale, please contact Permissions and Reprints Coordinator, University of Chicago Press, 1427 East 60th Street, Chicago, Illinois 60637. Articles in the public domain may be used without permission, but it is customary to contact the author. Editorial correspondence should be addressed to the managing editor, Journal of Law and Economics, University of Chicago Law School, 1111 East 60th Street, Chicago, Illinois 60637. Manuscripts may be submitted via Editorial Manager at https://www.editorialmanager.com/ jlawecon/. Exclusive submission and a nonrefundable submission fee are required. Complete information for contributors can be found at https://www.journals.uchicago.edu/JLE. Advertising space in the Journal of Law and Economics is available. For information and rates, please contact the advertising sales staff at j-advertising@press.uchicago.edu. Advertis- ing is limited to material of scholarly interest to our subscribers. Postmaster: Send address changes to Journal of Law and Economics, Subscription Fulfill- ment, University of Chicago Press, 1427 East 60th Street, Chicago, Illinois 60637. Postage paid in Chicago and additional mailing offices. The paper used in this publication meets the minimum requirements of American National Standard for Information Sciences-Permanence of Paper for Printed Library Materials, ANSI Z39.48-1984. © © 2026 by The University of Chicago. All rights reserved, including rights for text and data mining and training of artificial intelligence technologies or similar technologies. Pub- lished by The University of Chicago Press.