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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.

Morrison teaches Contracts, Bankruptcy Law, and Corporate Finance. He received the 2018 Willis L.M. Reese Prize for Excellence in Teaching.

His research has been published in the American Economic Review, Journal of Law & Economics, and other leading peer-reviewed publications. His work has been cited by the bankruptcy bench and bar and received support from the National Science Foundation and Pew Charitable Trusts. His current work studies patterns in inter-creditor agreements; valuation disputes in corporate bankruptcies; racial disparities in Chapter 13 bankruptcy filings; the relationship betweeen financial distress and mortality rates; and the costs and benefits of the bankruptcy code’s special rules for financial contracts, such as repos. Morrison and his co-author (Douglas Baird) received the 2012 John Wesley Steen Law Review Writing Prize from the American Bankruptcy Institute (ABI) 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 Columbia Law School from 2009 to 2012. He was 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., high honors, University of Chicago Law School, 2000
  • M.A., University of Chicago, 1997
  • B.S., summa cum laude, University of Utah, 1994
Areas of Expertise
  • Bankruptcy law
  • Law and economics
  • Corporate reorganization
  • Contracts

COVID-19 Research

Bankruptcy’s Role in the COVID-19 Crisis (with Andrea Saavedra)

Selected Publications

  • “Valuation Disputes in Corporate Bankruptcy,” University of Pennsylvania Law Review, forthcoming (with Kenneth Ayotte) (Working Paper)
  • “Beyond Options,” Handbook on Corporate Bankruptcy, (Barry Adler, ed.), Edward Elgar Press, forthcoming (with Anthony Casey) (Working Paper)
  • “Consumer Bankruptcy Pathologies,” Journal of Institutional and Theoretical Economics (2017) (with Antoine Uettwiller) (Working Paper)
  • “Rules of Thumb for Intercreditor Agreements,” University of Illinois Law Review (2015) (Working Paper)
  • “Mortgage Modification and Strategic Default: Evidence from a Legal Settlement with Countrywide,” American Economic Review (2014) (with Christopher Mayer, Tomasz Piskorski, and Arpit Gupta) (Working Paper)
  • “Rolling Back the Repo Safe Harbors,” Business Lawyer (2014) (with Mark Roe and Christopher Sontchi) (Working Paper)
  • “Extraterritorial Avoidance Actions: Lessons from Madoff,” Brooklyn Journal of Corporate, Financial & Commerical Law (2014) (Working Paper)
  • “The Economics of Bankruptcy: An Introduction to the Literature,” Economics of Bankruptcy (Edward R. Morrison, ed.), Edward Elgar Press (2012) (Working Paper)
  • “Dodd-Frank for Bankruptcy Lawyers,” American Bankers Institute Law Review (2011) (with Douglas G. Baird) (Working Paper)
  • “Bargaining around Bankruptcy: Small Business Distress and State Law,” Journal of Legal Studies (2009) (Working Paper)
  • “Creditor Control and Conflict in Chapter 11,” Journal of Legal Analysis (2009) (with Kenneth Ayotte) (Working Paper)
  • “Is the Bankruptcy Code an Adequate Mechanism for Resolving the Distress of Systemically Important Institutions?” Temple Law Review (2009) (Working Paper)
  • “A New Proposal for Loan Modifications,” Yale Journal on Regulation (2009) (with Christopher Mayer and Tomasz Piskorski) (Working Paper)    
  • “Bankruptcy’s Rarity: Small Business Workouts in the United States,” European Company and Financial Law Review (2008) (Working Paper)
  • “Bankruptcy Decision Making: An Empirical Study of Continuation Bias in Small Business Bankruptcies,” Journal of Law and Economics (2007) (Working Paper)
  • “Serial Entrepreneurs and Small Business Bankruptcies,” Columbia Law Review (2005) (with Douglas Baird) (Working Paper)
  • “Derivatives and the Bankruptcy Code: Why the Special Treatment?” Yale Journal of Regulations (2005) (with Frank Edwards) (Working Paper)
  • “Bankruptcy Decision Making,” Journal of Law, Economics & Organization (2001) (with Douglas Baird) (Working Paper 1) (Working Paper 2)
Download Full C.V.

CV (Spring 2018)

Office Hours

On request.

In the News

Bankruptcy’s Role in the COVID-19 Crisis (with Andrea Saavedra)

Bankruptcy Law
Colloquium in Global Business Law
Corporate Finance
Corporate Finance and Valuation