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Emanuela Carbonara

Adjunct Professor of International Economics


Professor of Economic Policy, University of Bologna, and Director, Master Degree in Law and Economics; and Law and Economics of Insurance and Finance, University of Bologna. Emanuela Carbonara is Professor of Economic Policy at the Department of Sociology and Business Law, University of Bologna and Adjunct Professor of International Economics, SAIS Europe. Since 2015 she is the Director of the Master (2nd Cycle Degree) in Law and Economics and Law and Economics of Insurance and Finance at the University of Bologna. She is an Editor of the International Review of Law and Economics. She has been a Visiting Professor at the University of Haifa and George Mason University; was previously a Visiting Fellow at the Amsterdam Center of Law & Economics of the University of Amsterdam and a Research Fellow at the University of East Anglia. Currently, she is member of the Advisory Board of the European Association of Law and Economics and founding member of the Italian Society of Law and Economics. She holds a DPhil in economics from the University of Oxford and a PhD in economics from Bocconi University. Her current research interests are law and economics, behavioural economics and regulatory economics. She has published several articles in prestigious journals and book chapters.

Publications: "Cocktails Done Right: Price Competition and Wlefare when Substitutes become Complements," co-author, Journal of Economics (2020); "Agency culture, constitutional provisions and entrepreneurship: a cross-country analysis," co-author, Industrial and Corporate Change (2018); "Social influence on third-party punishment: An experiment," co-author, Journal of Economic Psychology (2017); "Law and Social Norms," in Oxford Handbook of Law and Economics (2017); "Sharing Residual Liability: Cheapest Cost Avoider Revisited," co-author, Journal of Legal Studies (2016); "De Jure Determinants of New Firm Formation: How The Pillars of Constitutions Influence Entrepreneurship," co-author, Small Business Economics (2016); "Rent Seeking and Litigation: The Hidden Virtues of Limited Fee Shifting," co-author, Review of Law and Economics (2015); “Imperfect Substitutes for Perfect Complements: Solving the Anticommons Problem,” co-author, in Bulletin of Economic Research (2013); "Unjust Laws and Illegal Norms," co-author, in International Review of Law and Economics (2012); “Separating Complements: The Effects of Competition and Quality Leadership,” co-author, in The Journal of Economics (2011); “Social Dynamics and Minority Protection,” co-author, in International Review of Law and Economics (2010); “Self-Defeating Subsidiarity,” co-author, in Review of Law and Economics (2009); “Choice of Law and Legal Evolution: Rethinking the Market for Legal Rules,” co-author, in Public Choice (2009); “Optimal Territorial Scope of Laws: Subsidiarity and Legal Harmonization,” co-author, in The Economics of Lawmaking (2009); “Lawmakers as Norm Entrepreneurs,” co-author, in Review of Law and Economics (2008); “The Paradox of Legal Harmonization,” co-author, in Public Choice (2007)




  • Economics
  • International Finance


  • Italian