Tom Baker

University of Pennsylvania Law School

Professor of Law

3501 Sansom Street

Philadelphia, PA 19104

United States

http://www.law.upenn.edu/cf/faculty/thbaker/

SCHOLARLY PAPERS

41

DOWNLOADS
Rank 1,217

SSRN RANKINGS

Top 1,217

in Total Papers Downloads

19,127

CITATIONS
Rank 6,082

SSRN RANKINGS

Top 6,082

in Total Papers Citations

83

Scholarly Papers (41)

1.

Predicting Corporate Governance Risk: Evidence from the Directors' and Officers' Liability Insurance Market

Chicago Law Review, Vol. 74, p. 487, 2007
Number of pages: 58 Posted: 19 Jun 2006 Last Revised: 26 Mar 2008
Tom Baker and Sean J. Griffith
University of Pennsylvania Law School and Fordham University School of Law
Downloads 2,017 (4,589)
Citation 10

Abstract:

corporate governance, insurance, securities, empirical research, qualitative research

2.

How the Merits Matter: D&O Insurance and Securities Settlements

University of Pennsylvania Law Review, Vol. 157, pp. 755, 2009, 3rd Annual Conference on Empirical Legal Studies Papers, U of Penn, Inst for Law & Econ Research Paper No. 08-22, Fordham Law Legal Studies Research Paper No. 1101068
Number of pages: 78 Posted: 17 May 2008 Last Revised: 03 Jun 2009
Tom Baker and Sean J. Griffith
University of Pennsylvania Law School and Fordham University School of Law
Downloads 1,191 (12,533)
Citation 3

Abstract:

Securities, class actions, settlement, insurance, litigation

3.

The Missing Monitor in Corporate Governance: The Directors' & Officers' Liability Insurer

Georgetown Law Journal, Vol. 95, p. 1795, 2007
Number of pages: 48 Posted: 23 Nov 2006 Last Revised: 17 Jun 2009
Tom Baker and Sean J. Griffith
University of Pennsylvania Law School and Fordham University School of Law
Downloads 1,141 (12,421)
Citation 8

Abstract:

insurance, corporate governance, directors and officers

Predicting Securities Fraud Settlements and Amounts: A Hierarchical Bayesian Model of Federal Securities Class Action Lawsuits

Journal of Empirical Legal Studies, Vol. 9, Pg. 482, Sept. 2012, U of Penn, Inst for Law & Econ Research Paper No. 12-20
Number of pages: 30 Posted: 30 Apr 2012 Last Revised: 26 Jul 2012
Northwestern University - Kellogg School of Management, affiliation not provided to SSRN, University of Pennsylvania Law School and Fordham University School of Law
Downloads 1,026 (16,397)
Citation 1

Abstract:

class, action, securities, fraud, lawsuit, litigation, bayesian, hierarchical

Predicting Securities Fraud Settlements and Amounts: A Hierarchical Bayesian Model of Federal Securities Class Action Lawsuits

Journal of Empirical Legal Studies, Vol. 9, Issue 3, pp. 482-510, 2012
Number of pages: 29 Posted: 25 Jul 2012
Northwestern University - Kellogg School of Management, affiliation not provided to SSRN, University of Pennsylvania Law School and Fordham University School of Law
Downloads 1 (580,104)
Citation 1
  • Add to Cart

Abstract:

5.

Medical Malpractice and the Insurance Underwriting Cycle

Depaul Law Review, Vol. 54, May 2005
Number of pages: 46 Posted: 09 Jun 2005
Tom Baker
University of Pennsylvania Law School
Downloads 839 (20,298)
Citation 10

Abstract:

insurance, medical malpractice, torts, underwriting cycle

6.

Health Insurance, Risk, and Responsibility after the Patient Protection and Affordable Care Act

University of Pennsylvania Law Review, Vol. 159, pp. 1577, 2011, U of Penn, Inst for Law & Econ Research Paper No. 11-03
Number of pages: 47 Posted: 13 Feb 2011 Last Revised: 12 Sep 2011
Tom Baker
University of Pennsylvania Law School
Downloads 684 (26,494)
Citation 1

Abstract:

Health law, health care, insurance, insurance law, Patient Protection and Affordable Care Act

7.

The Law and Economics of Liability Insurance: A Theoretical and Empirical Review

U of Penn, Inst for Law & Econ Research Paper No. 11-09
Number of pages: 50 Posted: 13 Mar 2011 Last Revised: 27 Jan 2012
Tom Baker and Peter Siegelman
University of Pennsylvania Law School and University of Connecticut - School of Law
Downloads 627 (27,867)

Abstract:

Liability insurance contracts, ex ante and ex post moral hazard, risk, social welfare, canonical model of the interaction between insurance and tort liability

8.

Liability Insurance as Tort Regulation: Six Ways that Liability Insurance Shapes Tort Law in Action

Connecticut Insurance Law Journal, Vol. 12, No. 1, 2005
Number of pages: 16 Posted: 27 Jun 2006
Tom Baker
University of Pennsylvania Law School
Downloads 603 (29,116)
Citation 2

Abstract:

torts, insurance, liability

9.

Blood Money, New Money and the Moral Economy of Tort Law in Action

Number of pages: 50 Posted: 30 Mar 2001
Tom Baker
University of Pennsylvania Law School
Downloads 590 (36,829)
Citation 10

Abstract:

Tort law, insurance, subrogation, settlement, professional norms

10.

Reconsidering the Harvard Medical Practice Study Conclusions about the Validity of Medical Malpractice Claims

Number of pages: 36 Posted: 20 May 2005
Tom Baker
University of Pennsylvania Law School
Downloads 554 (37,499)
Citation 4

Abstract:

malpractice, health care, liability

11.

Containing the Promise of Insurance: Adverse Selection and Risk Classification

Number of pages: 33 Posted: 14 Oct 2002
Tom Baker
University of Pennsylvania Law School
Downloads 543 (36,744)
Citation 3

Abstract:

insurance, adverse selection, risk classification

12.

Insurance and the Law

Number of pages: 14 Posted: 18 Oct 2000
Tom Baker
University of Pennsylvania Law School
Downloads 530 (40,378)
Citation 2

Abstract:

13.

'You Want Insurance with That?' Using Behavioral Economics to Protect Consumers from Add-on Insurance Products

Connecticut Insurance Law Journal, Vol. 20, Pg. 1, 2013, U of Penn, Inst for Law & Econ Research Paper No. 13-1
Number of pages: 61 Posted: 12 Jan 2013 Last Revised: 09 May 2014
Tom Baker and Peter Siegelman
University of Pennsylvania Law School and University of Connecticut - School of Law
Downloads 503 (28,194)

Abstract:

Consumer Protection Law, After-Sales Service Warranty, Extended Warranties, Add-on Insurance, Insurance Pricing, Sale Ban, Price Regulation, Situational Monopoly, Shrouded Attributes

14.

Jackpot Justice and the American Tort System: Thinking Beyond Junk Science

Number of pages: 28 Posted: 02 Jul 2008
University of Pennsylvania Law School, University of Minnesota Law School and Duke University - School of Law
Downloads 491 (41,748)
Citation 1

Abstract:

Torts

15.

The Virtues of Uncertainty in Law: An Experimental Approach

Iowa Law Review, Vol. 89, p. 443, 2004
Number of pages: 45 Posted: 12 Mar 2003 Last Revised: 15 Apr 2015
Tom Baker, Alon Harel and Tamar Kugler
University of Pennsylvania Law School, Hebrew University of Jerusalem - Faculty of Law and Hebrew University of Jerusalem - Department of Psychology
Downloads 483 (44,575)
Citation 10

Abstract:

The Effects of Tort Reform on Medical Malpractice Insurers' Ultimate Losses

Vanderbilt Law and Economics Research Paper No. 08-03
Number of pages: 29 Posted: 31 Jul 2006 Last Revised: 27 Nov 2012
Patricia Born, W. Kip Viscusi and Tom Baker
Florida State University - College of Business, Vanderbilt University - Law School and University of Pennsylvania Law School
Downloads 288 (87,261)
Citation 5

Abstract:

medical malpractice, tort reform, insurance

The Effects of Tort Reform on Medical Malpractice Insurers' Ultimate Losses

Journal of Risk and Insurance, 2009, Vanderbilt Law and Economics Research Paper No. 08-30, FSU College of Law, Law, Business & Economics Paper No. 09-26
Number of pages: 36 Posted: 27 Dec 2008 Last Revised: 16 Oct 2009
Patricia Born, W. Kip Viscusi and Tom Baker
Florida State University - College of Business, Vanderbilt University - Law School and University of Pennsylvania Law School
Downloads 136 (179,020)
Citation 5
  • Add to Cart

Abstract:

tort reform, medical malpractice, insurance, insurance losses, insurers' losses

The Effects of Tort Reform on Medical Malpractice Insurers' Ultimate Losses

NBER Working Paper No. w12086
Number of pages: 24 Posted: 11 May 2006
Florida State University, Vanderbilt University - Law School, Florida State University - College of Business and University of Pennsylvania Law School
Downloads 50 (336,755)
Citation 5

Abstract:

The Effects of Tort Reform on Medical Malpractice Insurers' Ultimate Losses

Journal of Risk and Insurance, Vol. 76, Issue 1, pp. 197-219, March 2009
Number of pages: 23 Posted: 27 Apr 2009
Patricia Born, W. Kip Viscusi and Tom Baker
Florida State University, Vanderbilt University - Law School and University of Pennsylvania Law School
Downloads 5 (549,454)
Citation 5
  • Add to Cart

Abstract:

17.

Can Consumers Make Affordable Care Affordable? The Value of Choice Architecture

U of Penn, Inst for Law & Econ Research Paper No. 13-28, Columbia Business School Research Paper No. 13-56
Number of pages: 6 Posted: 11 Jul 2013 Last Revised: 24 Jan 2014
Columbia Business School - Marketing, Hebrew University of Jerusalem, University of Pennsylvania Law School, Columbia University - Department of Psychology and University of Miami
Downloads 436 (48,461)
Citation 1

Abstract:

Choice Architecture, healthcare, decision making, Affordable Care Act, Insurance Decisions

18.

Allowing Patients to Waive the Right to Sue for Medical Malpractice: A Response to Thaler and Sunstein

Northwestern University Law Review, Vol. 104, Pg. 233, 2010, U of Penn, Inst for Law & Econ Research Paper No. 09-06, Albany Law School Research Paper No. 09-07
Number of pages: 20 Posted: 26 Feb 2009 Last Revised: 02 Oct 2010
Tom Baker and Timothy D. Lytton
University of Pennsylvania Law School and Georgia State University College of Law
Downloads 376 (58,615)

Abstract:

Nudge, liberty, health care, waiver, cost-benefit analysis, behavioral economics, professional negligence, torts, liability insurance, healthcare costs, bias perception, tort compensation

19.
Downloads 363 ( 67,361)

Insurance in Sociolegal Research

U of Penn, Inst for Law & Econ Research Paper No. 10-07
Number of pages: 25 Posted: 11 May 2010
Tom Baker
University of Pennsylvania Law School
Downloads 363 (66,740)

Abstract:

Tort law in action, accident compensation, liability insurance as governance, decision-making, governance in other fields of law, governance in economics, risk, law and society

Insurance in Sociolegal Research

Annual Review of Law and Social Science, Vol. 6, pp. 433-447, 2010
Posted: 14 Nov 2010
Tom Baker
University of Pennsylvania Law School

Abstract:

20.

Liability Insurance, Moral Luck, and Auto Accidents

Number of pages: 18 Posted: 05 Jul 2007
Tom Baker
University of Pennsylvania Law School
Downloads 331 (69,625)
Citation 1

Abstract:

insurance, moral luck, philosophy, automobile, torts

21.

Liability Insurance at the Tort-Crime Boundary

U of Penn, Inst for Law & Econ Research Paper No. 08-32, U of Penn Law School, Public Law Research Paper No. 08-52
Number of pages: 19 Posted: 10 Dec 2008
Tom Baker
University of Pennsylvania Law School
Downloads 326 (69,353)
Citation 2

Abstract:

Liability insurance, tort, torts, criminal law, crime torts, economic incentives, morals, moral reasoning, consequentialism, price setting, loss spreading

22.

Tontines for the Invincibles: Enticing Low Risks Into the Health Insurance Pool With an Idea From Insurance History and Behavioral Economics

Wisconsin Law Review, Vol. 2010, Pg. 79, U of Penn, Inst for Law & Econ Research Paper No. 09-07
Number of pages: 42 Posted: 28 Feb 2009 Last Revised: 30 Sep 2010
Tom Baker and Peter Siegelman
University of Pennsylvania Law School and University of Connecticut - School of Law
Downloads 305 (77,623)

Abstract:

Health law and policy, insuring healthy young adults, health coverage, risk, tontine, law and economics, cognitive bias, irrational insurance behavior

23.

Insuring Morality

Number of pages: 29 Posted: 04 Nov 2000
Tom Baker
University of Pennsylvania Law School
Downloads 240 (100,399)
Citation 1

Abstract:

24.

Regulation by Liability Insurance: From Auto to Lawyers Professional Liability

UCLA Law Review, vol. 60, p. 1412, 2013, U of Penn, Inst for Law & Econ Research Paper No. 13-4
Number of pages: 40 Posted: 09 Feb 2013 Last Revised: 04 Sep 2013
Tom Baker and Rick Swedloff
University of Pennsylvania Law School and Rutgers Law School
Downloads 223 (87,027)

Abstract:

Liability insurance, administrative regulation, risk, behavior, directors and officers liability insurance, car insurance, insurance for guns, malpractice insurance

25.

The Shifting Terrain of Risk and Uncertainty on the Liability Insurance Field

DePaul Law Review, Vol. 60, P. 521, 2011, U of Penn, Inst for Law & Econ Research Paper No. 10-32
Number of pages: 18 Posted: 08 Dec 2010 Last Revised: 05 Aug 2013
Tom Baker
University of Pennsylvania Law School
Downloads 209 (115,720)
Citation 1

Abstract:

torts, liability insurance, property insurance, relative premiums, empirical research, risk, uncertainty, premia, tort reform, insurance underwriting cycle

26.

Liability Insurance and the Regulation of Firearms

SUING THE FIREARMS INDUSTRY, T. Lytton, ed., University of Michigan Press, 2005
Number of pages: 40 Posted: 20 Nov 2004
Tom Baker and Thomas O. Farrish
University of Pennsylvania Law School and University of Connecticut - School of Law
Downloads 192 (120,057)

Abstract:

Insurance, guns, regulation

27.

Transparency through Insurance: Mandates Dominate Discretion

U of Penn, Inst for Law & Econ Research Paper No. 09-20
Number of pages: 23 Posted: 28 May 2009
Tom Baker
University of Pennsylvania Law School
Downloads 147 (152,714)

Abstract:

Liability insurance, civil justice system, empirical research, incomplete knowledge, bias, transparency, mandatory disclosure of liability insurance data, expansion of mandatory claims reporting

28.

Insurance Against Misinformation in the Securities Market

Number of pages: 55 Posted: 04 Sep 2007
Tom Baker
University of Pennsylvania Law School
Downloads 146 (157,646)

Abstract:

insurance, securities, regulation, financial markets

29.

Liability Insurer Data as a Window on Lawyers’ Professional Liability

UC Irvine Law Review, Vol. 5, P. 1273, 2015, U of Penn, Inst for Law & Econ Research Paper No. 15-16
Number of pages: 45 Posted: 03 May 2015 Last Revised: 28 Aug 2016
Tom Baker and Rick Swedloff
University of Pennsylvania Law School and Rutgers Law School
Downloads 136 (107,000)

Abstract:

Torts, professional negligence, legal malpractice, professional responsibility, ethics, insurance, damages, empirical studies, quantitative analysis, liability insurance premia, large firm liability, small firm lawyer liability, lack of mandatory reporting

30.

Behavioral Economics and Insurance Law: The Importance of Equilibrium Analysis

Published in: Doron Teichman & Eyal Zamir (eds.), Oxford Handbook of Behavioral Economics and the Law (2014)
Number of pages: 28 Posted: 28 Jan 2014 Last Revised: 09 Nov 2015
Tom Baker and Peter Siegelman
University of Pennsylvania Law School and University of Connecticut - School of Law
Downloads 132 (151,908)

Abstract:

Insurance, law & economics, rational behavior, informational asymmetry, equilibrium

31.

Mandatory Rules and Default Rules in Insurance Contracts

In The Law & Economics of Insurance (Elgar Publishing, Forthcoming), U of Michigan Law & Econ Research Paper No. 13-024, U of Michigan Public Law Research Paper No. 377, U of Penn, Inst for Law & Econ Research Paper No. 13-38
Number of pages: 43 Posted: 21 Dec 2013 Last Revised: 05 Sep 2014
Tom Baker and Kyle D. Logue
University of Pennsylvania Law School and University of Michigan Law School
Downloads 119 (129,287)

Abstract:

contract law, insurance, rules, default, mandatory

32.

Defending the Restatement of the Law, Liability Insurance: 'Regulatory Considerations'

Number of pages: 18 Posted: 20 Apr 2017
Tom Baker and Kyle D. Logue
University of Pennsylvania Law School and University of Michigan Law School
Downloads 116 (202,031)

Abstract:

33.

Tontines for the Young Invincibles

Regulation, pp. 20-26, Winter 2009-2010
Number of pages: 7 Posted: 12 Jan 2010
Tom Baker and Peter Siegelman
University of Pennsylvania Law School and University of Connecticut - School of Law
Downloads 54 (301,152)
Citation 1

Abstract:

34.

Offer-of-Judgment Rules and Civil Litigation: An Empirical Study of Automobile Insurance Litigation in the East

Vanderbilt Law Review, Vol. 59, No. 1, pp. 155-196, 2006
Number of pages: 42 Posted: 28 Jun 2013
Albert Yoon and Tom Baker
University of Toronto - Faculty of Law and University of Pennsylvania Law School
Downloads 16 (400,686)
Citation 6

Abstract:

35.

The Forfeiture of Coverage Defenses Rule: An Economic Analysis

Northwestern Law & Econ Research Paper No. 17-10, U of Penn, Inst for Law & Econ Research Paper No. 17-32, U of Michigan Law & Econ Research Paper No. 17-013
Number of pages: 21 Posted: 02 Aug 2017 Last Revised: 08 Aug 2017
Tom Baker, Ezra Friedman and Kyle D. Logue
University of Pennsylvania Law School, Northwestern University - Pritzker School of Law and University of Michigan Law School
Downloads 0 (414,069)

Abstract:

Insurance, Liability Insurance, Restatement of the Law: Liability Insurance, Moral Hazard, Duty to Defend, Forfeiture of Coverage Defenses

36.

In Defense of the Restatement of Liability Insurance Law

George Mason Law Review, Vol. 24, P. 767, 2017., U of Michigan Law & Econ Research Paper No. 17-001, U of Penn, Inst for Law & Econ Research Paper No. 17-15
Number of pages: 34 Posted: 14 Apr 2017 Last Revised: 16 Aug 2017
Tom Baker and Kyle D. Logue
University of Pennsylvania Law School and University of Michigan Law School
Downloads 0 (141,938)

Abstract:

Insurance law, Restatement of Law Liability Insurance, RLLI, common law, insurers' defense obligations & costs, bias, markets, risk, risks, contracts, doctrine of contra proferentem, misrepresentation, duty to defend or make reasonable settlement decisions, empirical & behavioral economics

37.

Regulating Robo Advice Across the Financial Services Industry

Iowa Law Review, Vol. 103, Forthcoming, U of Penn, Inst for Law & Econ Research Paper No. 17-11
Number of pages: 39 Posted: 13 Mar 2017 Last Revised: 16 Sep 2017
Tom Baker and Benedict G. C. Dellaert
University of Pennsylvania Law School and Erasmus University Rotterdam (EUR) - Erasmus School of Economics (ESE)
Downloads 0 (24,477)

Abstract:

Banking, insurance, securities, financial technology, fintech, financial product intermediary regulation, roboadvisor, roboadvisors, robo-advisor, robo-advisors, robo adviser, robo advisers, Financial Industry Regulatory Authority, FINRA, competence, honesty, suitability, digital investment advice

38.

Everything's Bigger in Texas: Except the Medmal Settlements

Connecticut Insurance Law Journal, Vol. 22, P. 1, 2016, Claremont McKenna College Robert Day School of Economics and Finance Research Paper No. 2865900, U of Penn, Inst for Law & Econ Research Paper No. 16-27
Number of pages: 47 Posted: 08 Nov 2016
Tom Baker, Eric Helland and Jonathan Klick
University of Pennsylvania Law School, Claremont McKenna College - Robert Day School of Economics and Finance and University of Pennsylvania Law School
Downloads 0 (337,302)

Abstract:

Empirical Legal Studies, Blood Money, Tort Law, Medical Malpractice Litigation, Doctors, Insurance, Settlements, Incentives, Personal Bankruptcy, Homestead Exemption

39.

Mutually Assured Protection Among Large Law Firms

Connecticut Insurance Law Journal, Vol. 24, Forthcoming, U of Penn, Inst for Law & Econ Research Paper No. 16-17
Number of pages: 47 Posted: 11 Aug 2016 Last Revised: 27 Apr 2017
Tom Baker and Rick Swedloff
University of Pennsylvania Law School and Rutgers Law School
Downloads 0 (84,065)

Abstract:

Insurance Law, Legal Malpractice, Lawyers' Professional Liability Insurance, Professional Responsibility, Ethics, Damages, Large Firm Liability, Mutual Insurance, Stock Insurers, Reinsurance, Risk

40.

The New Health Care Federalism: An Empirical and Theoretical Assessment of Federalism Dynamics in Health Care and Beyond

U of Penn Law School, Public Law Research Paper No. 14-34, Yale Law School, Public Law Research Paper No. 525
Posted: 16 Oct 2014 Last Revised: 09 Jan 2015
University of Pennsylvania Law School, Yale Law School, Boston University - School of Public Health and University of Pennsylvania Law School

Abstract:

health law, constitutional law, legislation, health care federalism, empirical, insurance, Medicaid, ACA, Affordable Care Act, PPACA, Obamacare, healthcare reform, shared state-federal policymaking

41.

Putting Health Back into Health Insurance Choice

Medical Care Research and Review, Forthcoming
Posted: 04 Apr 2014
Pavel D. Atanasov and Tom Baker
University of Pennsylvania and University of Pennsylvania Law School

Abstract:

Health Insurance Choice, Employer Health Plans, Consumer Choice

Other Papers (2)

Total Downloads: 253    Citations: 1
1.

Teaching Real Torts: Using Barry Werth's Damages in the Law School Classroom

Nevada Law Journal, Forthcoming
Number of pages: 19 Posted: 10 Oct 2005
Tom Baker
University of Pennsylvania Law School
Downloads 151

Abstract:

Torts, damages, insurance, Sabia v. Norwalk Hospital

2.

Liability and Insurance After September 11: Embracing Risk Meets the Precautionary Principle

U. of Connecticut School of Law Working Paper No. 4
Number of pages: 18 Posted: 10 Oct 2005
Tom Baker
University of Pennsylvania Law School
Downloads 98 (311,825)
Citation 1

Abstract:

Risk, insurance, liability, September 11, insurance regulations, assessment approach