Edward Morrison

Charles Evans Gerber Professor of Law

Edward Morrison

Charles Evans Gerber Professor of Law

Edward R. Morrison is the Charles Evans Gerber Professor of Law at Columbia Law School. He is an expert in bankruptcy law and law and economics, including the causes and consequences of insolvency, both consumer and corporate. Morrison’s scholarship has addressed corporate reorganization, consumer bankruptcy, the regulation of systemic market risk, and foreclosure and mortgage modification.

His research has been recognized by the bankruptcy bench and bar and has received support from the National Science Foundation and Pew Charitable Trusts, among other foundations. His current work studies patterns in inter-creditor agreements; the surprising frequency of Chapter 13 bankruptcy filings among the urban poor of Chicago; market reactions to developing case law regarding the Trust Indenture Act, the extent to which unexpected health expenditures cause defaults and consumer bankruptcy filings; and the costs and benefits of the bankruptcy code’s special rules for financial contracts, such as repos. In 2012, Morrison received the John Wesley Steen Law Review Writing Prize from the American Bankruptcy Institute (ABI), along with Douglas Baird of the University of Chicago, for an article on the Dodd-Frank Act published in the ABI Law Review.

Morrison is co-director of the Richard Paul Richman Center for Business, Law, and Public Policy, a joint venture of Columbia’s Law and Business Schools. He is also an editor of the Journal of Legal Studies and a conferee of the National Bankruptcy Conference. He recently served as a director of the American Law & Economics Association, member of the Supreme Court’s Advisory Committee on Bankruptcy Rules, and associate editor of the American Law & Economics Review.

Morrison was the Harvey R. Miller Professor of Law and Economics at the Law School from 2009 to 2012; and the Paul H. and Theo Leffmann Professor of Commercial Law at the University of Chicago Law School from 2013 to 2014.

Before working in academia, Morrison clerked for Justice Antonin Scalia of the Supreme Court and Judge Richard A. Posner of the 7th U.S. Circuit Court of Appeals.

  • Ph.D., University of Chicago, 2003
  • J.D., University of Chicago Law School, 2000
  • M.A., University of Chicago, 1997
  • B.S., University of Utah, 1994
Areas of Expertise
  • Bankruptcy law
  • Law and economics
  • Corporate reorganization
  • Contracts

Selected Publications

  • “Beyond Options,” (with Anthony J. Casey), Handbook on Corporate Bankruptcy, (Barry Adler, ed.), Edward Elgar Press, forthcoming
  • “Consumer Bankruptcy Pathologies,” Journal of Institutional and Theoretical Economics, forthcoming
  • “Rules of Thumb for Intercreditor Agreements,” University of Illinois Law Review 721, 2015
  • “Mortgage Modification and Strategic Default: Evidence from a Legal Settlement with Countrywide,” (with Christopher Mayer, Tomasz Piskorski, and Arpit Gupta), 104 American Economic Review 2830, 2014
  • “Rolling Back the Repo Safe Harbors,” (with Mark Roe and Christopher Sontchi), 69 Business Lawyer 1015, 2014
  • “Extraterritorial Avoidance Actions: Lessons from Madoff,” 9 Brooklyn Journal of Corporate, Financial & Commerical Law 268, 2014
  • “The Economics of Bankruptcy: An Introduction to the Literature,” Economics of Bankruptcy, (Edward R. Morrison, ed.), Edward Elgar Press, 2012
  • “Dodd-Frank for Bankruptcy Lawyers,” American Bankers Institute Law Review, 2011
  • “Bargaining around Bankruptcy: Small Business Distress and State Law,” Journal of Legal Studies, 2009
  • “Creditor Control and Conflict in Chapter 11,” Journal of Legal Analysis, 2009
  • “Is the Bankruptcy Code an Adequate Mechanism for Resolving the Distress of Systemically Important Institutions?” Temple Law Review, 2009
  • “A New Proposal for Loan Modifications,” Yale Journal on Regulation, 2009              
  • “Bankruptcy’s Rarity: Small Business Workouts in the United States,” European Company and Financial Law Review, 2008
  • “Bankruptcy Decision Making: An Empirical Study of Continuation Bias in Small Business Bankruptcies,” Journal of Law and Economics, 2007
  • “Derivatives and the Bankruptcy Code: Why the Special Treatment?” Yale Journal of Regulations, 2005
Download Full C.V.
Office Hours

Mondays, 2 p.m-4 p.m.

Bankruptcy Law
Corporate Finance