Katharina Pistor - What Finance (and Economics) Can Learn from Law

Katharina Pistor, a professor at Columbia Law School, discusses her project on re-theorizing the relationship between law and markets. She explores the historical context of law and finance, particularly in Eastern Europe and Russia, and critiques existing frameworks. Her research strategy involves an interdisciplinary team analyzing case studies to understand the complexities of law in financial markets.

What was the primary focus of Katharina Pistor's project?

• Studying the effects of climate change on agriculture

• Exploring the history of ancient civilizations

• Analyzing the impact of technology on education

• Re-theorizing the relationship between law and markets

What significant event in Russia influenced Katharina's understanding of finance and law?

• The Russian Revolution of 1917

• The privatization of companies in 1993

• The fall of the Berlin Wall

• The launch of Sputnik

Which framework is associated with economists in Katharina's discussion?

• Institutional economics framework

• Behavioral economics framework

• Autonomous rational actor framework

• Socially embedded actor framework

What is a key critique of both the autonomous rational actor and socially embedded actor frameworks?

• They under-conceptualize the law

• They overemphasize the role of technology

• They focus too much on historical events

• They ignore cultural differences

What is the main strategy Katharina uses in her project?

• Developing new financial instruments

• Assembling a diverse interdisciplinary team

• Conducting surveys in emerging markets

• Focusing solely on economic theories

How does Katharina's team use case studies in their research?

• To validate existing economic models

• To develop new legal regulations

• To analyze and critique theoretical frameworks

• To predict future market trends

What previous experience does Katharina draw from for her interdisciplinary approach?

• Her research on ancient legal systems

• Her studies in environmental science

• Her work with economists and lawyers on post-war Asian development

• Her involvement in political campaigns