Max M. Schanzenbach

Northwestern University - Pritzker School of Law

Professor

375 E. Chicago Ave

Chicago, IL 60611

United States

  • Northwestern University - Pritzker School of Law

SCHOLARLY PAPERS

34

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Top 2,966

in Total Papers Downloads

17,522

SSRN CITATIONS
Rank 8,948

SSRN RANKINGS

Top 8,948

in Total Papers Citations

74

CROSSREF CITATIONS

68

Scholarly Papers (34)

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1.

Reconciling Fiduciary Duty and Social Conscience: The Law and Economics of ESG Investing by a Trustee

72 Stanford Law Review 381 (2020), Northwestern Law & Econ Research Paper No. 18-22, Harvard Public Law Working Paper No. 19-50
Number of pages: 74 Posted: 06 Sep 2018 Last Revised: 02 Mar 2020
Max M. Schanzenbach and Robert H. Sitkoff
Northwestern University - Pritzker School of Law and Harvard University - Harvard Law School
Downloads 2,779 (6,690)
Citation 1

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Truste, trustee, prudent investor rule, ESG, environmental social and governance, law and economics, law and finance, trust, pension, charity, endowment, active investing, active shareholding, contrarian investment, SRI, socially responsible investment, ethical investing, sustainable investing

2.

Jurisdictional Competition for Trust Funds: An Empirical Analysis of Perpetuities and Taxes

Downloads 2,594 ( 7,461)
Citation 9

Jurisdictional Competition for Trust Funds: An Empirical Analysis of Perpetuities and Taxes

Yale Law Journal, Vol. 115, p. 356, 2005, Northwestern Law & Econ Research Paper No. 05-07, NYU, Law and Economics Research Paper No. 05-26
Number of pages: 83 Posted: 14 Feb 2005
Robert H. Sitkoff and Max M. Schanzenbach
Harvard University - Harvard Law School and Northwestern University - Pritzker School of Law
Downloads 2,500 (7,762)
Citation 8

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Rule against perpetuities, jurisdictional competition, regulatory competition, trust funds, estate tax, generation skipping transfer tax, fiduciary income tax, self-settled trust, asset protection trust, wealth transfer taxes

Jurisdictional Competition for Trust Funds: An Empirical Analysis of Perpetuities and Taxes

NYU Working Paper No. CLB-06-034
Number of pages: 83 Posted: 31 Oct 2008
Robert H. Sitkoff and Max M. Schanzenbach
Harvard University - Harvard Law School and Northwestern University - Pritzker School of Law
Downloads 94 (380,687)

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3.

ESG Investing: Theory, Evidence, and Fiduciary Principles

Journal of Financial Planning
Number of pages: 9 Posted: 04 Sep 2020 Last Revised: 08 Nov 2021
Max M. Schanzenbach and Robert H. Sitkoff
Northwestern University - Pritzker School of Law and Harvard University - Harvard Law School
Downloads 1,131 (27,016)
Citation 1

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Truste, Trustee, Prudent Investor Rule, ESG, Environmental Social and Governance, Law and Economics, Law and Finance, Trust, Pension, Charity, Endowment, Active Investing, Active Shareholding, Contrarian Investment, SRI

4.

The Effect of Prison Sentence Length on Recidivism: Evidence from Random Judicial Assignment

Northwestern Law & Econ Research Paper No. 16-08
Number of pages: 29 Posted: 12 Dec 2015 Last Revised: 21 May 2016
Michael A Roach and Max M. Schanzenbach
Middle Tennessee State University and Northwestern University - Pritzker School of Law
Downloads 975 (33,420)
Citation 6

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Deterrence, specific deterrence, judging, crime, recidivism

5.

The Prudent Investor Rule and Market Risk: An Empirical Analysis

Downloads 878 ( 38,745)
Citation 2

The Prudent Investor Rule and Market Risk: An Empirical Analysis

Journal of Empirical Legal Studies, Volume 14, Issue 1, 129-68, March 2017, Harvard Public Law Working Paper No. 15-06, Northwestern Public Law Research Paper No. 15-16
Number of pages: 40 Posted: 25 Mar 2015 Last Revised: 03 Dec 2020
Max M. Schanzenbach and Robert H. Sitkoff
Northwestern University - Pritzker School of Law and Harvard University - Harvard Law School
Downloads 876 (38,310)
Citation 1

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prudent man rule, prudent investor rule, trust investment, fiduciary investment, prudent investor, modern portfolio theory, agency costs, fiduciary, fiduciary duties, risk tolerance, rebalancing, portfolio management

The Prudent Investor Rule and Market Risk: An Empirical Analysis

Journal of Empirical Legal Studies, Vol. 14, Issue 1, pp. 129-168, 2017
Number of pages: 40 Posted: 28 May 2020
Max M. Schanzenbach and Robert H. Sitkoff
Northwestern University - Pritzker School of Law and Harvard University - Harvard Law School
Downloads 2 (916,852)
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6.

Did Reform of Prudent Trust Investment Laws Change Trust Portfolio Allocation?

Journal of Law and Economics, Vol. 50, 2007, Harvard Law and Economics Discussion Paper No. 580, NYU Law and Economics Research Paper No. 05-30, Northwestern Law & Econ Research Paper No. 05-27
Number of pages: 32 Posted: 09 Dec 2005 Last Revised: 09 Jul 2008
Max M. Schanzenbach and Robert H. Sitkoff
Northwestern University - Pritzker School of Law and Harvard University - Harvard Law School
Downloads 849 (40,509)
Citation 1

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prudence, trust investment law, modern portfolio theory, investment, prudent investor rule, prudent man rule, agency costs, fiduciary

7.

Racial Disparities under the Federal Sentencing Guidelines: The Role of Judicial Discretion and Mandatory Minimums

Downloads 732 ( 49,449)
Citation 18

Racial Disparities under the Federal Sentencing Guidelines: The Role of Judicial Discretion and Mandatory Minimums

Forthcoming, Journal of Empirical Legal Studies Vol. 9, No. 4 (Dec. 2012)
Number of pages: 50 Posted: 09 Jul 2010 Last Revised: 12 Jul 2012
Joshua B. Fischman and Max M. Schanzenbach
University of Virginia School of Law and Northwestern University - Pritzker School of Law
Downloads 729 (49,034)

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Sentencing Guidelines, Criminal Justice, Racial Disparity

Racial Disparities Under the Federal Sentencing Guidelines: The Role of Judicial Discretion and Mandatory Minimums

Journal of Empirical Legal Studies, Vol. 9, Issue 4, pp. 729-764, 2012
Number of pages: 36 Posted: 08 Nov 2012
Joshua B. Fischman and Max M. Schanzenbach
University of Virginia School of Law and Northwestern University - Pritzker School of Law
Downloads 3 (901,962)
Citation 3

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8.

The Impact of Tort Reform on Private Health Insurance Coverage

American Law and Economics Review Vol. 12(2) 2019 . 319-355, U of Texas Law, Law and Econ Research Paper No. 187, Northwestern Public Law Research Paper No. 07-16
Number of pages: 37 Posted: 26 Jun 2007 Last Revised: 25 Jul 2019
Ronen Avraham and Max M. Schanzenbach
Tel Aviv University - Buchmann Faculty of Law and Northwestern University - Pritzker School of Law
Downloads 730 (49,614)
Citation 2

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tort law, health law, health economics, insurance

9.

The Prudent Investor Rule and Trust Asset Allocation: An Empirical Analysis

Downloads 690 ( 53,491)

The Prudent Investor Rule and Trust Asset Allocation: An Empirical Analysis

American College of Trust and Estate Counsel Journal, Vol. 35, p. 314, 2010, Harvard Law and Economics Discussion Paper No. 668, Northwestern Law & Econ Research Paper No. 11-05
Number of pages: 19 Posted: 29 Jan 2011 Last Revised: 10 Mar 2011
Max M. Schanzenbach and Robert H. Sitkoff
Northwestern University - Pritzker School of Law and Harvard University - Harvard Law School
Downloads 376 (111,141)

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prudent man rule, prudent investor rule, trust investment law, modern portfolio theory, agency costs, fiduciary, ERISA

The Prudent Investor Rule and Trust Asset Allocation: An Empirical Analysis

ACTEC Journal, Vol. 35, p. 314, 2010, Harvard Law and Economics Discussion Paper No. 668
Number of pages: 19 Posted: 15 Jul 2010 Last Revised: 06 Sep 2010
Robert H. Sitkoff and Max M. Schanzenbach
Harvard University - Harvard Law School and Northwestern University - Pritzker School of Law
Downloads 314 (135,382)

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prudent man rule, prudent investor rule, trust investment law, modern portfolio theory, agency costs, fiduciary, ERISA

10.

Good Cop, Bad Cop: Using Civilian Allegations to Predict Police Misconduct

Number of pages: 64 Posted: 10 Nov 2016 Last Revised: 05 Aug 2018
Kyle Rozema and Max M. Schanzenbach
Washington University in St. Louis - School of Law and Northwestern University - Pritzker School of Law
Downloads 643 (58,551)
Citation 12

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Policing, Personnel Economics, Police Misconduct, Civil Rights, Civil Rights Litigation, Public Finance

11.

Medical Malpractice Reform

F. Parisi (ed.), Oxford Handbook of Law and Economics (Oxford Univ. Press, Forthcoming), U of Texas Law, Law and Econ Research Paper No. E558, Northwestern Public Law Research Paper No. 15-23, Northwestern Law & Econ Research Paper No. 15-08
Number of pages: 37 Posted: 17 Mar 2015 Last Revised: 26 Apr 2015
Ronen Avraham and Max M. Schanzenbach
Tel Aviv University - Buchmann Faculty of Law and Northwestern University - Pritzker School of Law
Downloads 628 (60,349)

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12.

Perpetuities, Taxes, and Asset Protection: An Empirical Assessment of the Jurisdictional Competition for Trust Funds

ANNUAL HECKERLING INSTITUTE ON ESTATE PLANNING, Tina Portando, ed., Vol. 42, Chapter 12, 2008, Harvard Law and Economics Discussion Paper No. 609
Number of pages: 33 Posted: 02 Apr 2008 Last Revised: 19 Jun 2008
Robert H. Sitkoff and Max M. Schanzenbach
Harvard University - Harvard Law School and Northwestern University - Pritzker School of Law
Downloads 506 (79,137)

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rule against perpetuities, jurisdictional competition, regulatory competition, trust funds, estate tax, generation skipping transfer tax, fiduciary income tax, self-settled trust, asset protection trust, wealth transfer taxes, bequest motive, trust modification, trust termination

13.

Perpetuities or Taxes? Explaining the Rise of the Perpetual Trust

Downloads 487 ( 82,881)
Citation 4

Perpetuities or Taxes? Explaining the Rise of the Perpetual Trust

Cardozo Law Review, Vol. 27, 2006, Northwestern Law & Econ Research Paper No. 840286, NYU, Law and Economics Research Paper No. 05-25
Number of pages: 46 Posted: 04 Nov 2005
Max M. Schanzenbach and Robert H. Sitkoff
Northwestern University - Pritzker School of Law and Harvard University - Harvard Law School
Downloads 436 (93,644)

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rule against perpetuities, jurisdictional competition, regulatory competition, trust funds, estate tax, generation skipping transfer tax, fiduciary income tax, wealth transfer taxes, bequest motive, trust modification, trust termination

Perpetuities or Taxes? Explaining the Rise of the Perpetual Trust

NYU Working Paper No. CLB-06-030
Number of pages: 46 Posted: 31 Oct 2008
Max M. Schanzenbach and Robert H. Sitkoff
Northwestern University - Pritzker School of Law and Harvard University - Harvard Law School
Downloads 51 (530,100)

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14.

Fiduciary Financial Advice to Retirement Savers: Don't Overlook the Prudent Investor Rule

Harvard John M. Olin Center for Law, Economics, and Business, Discussion Paper No. 867, 2016, Northwestern Law & Econ Research Paper No. 16-11, Harvard Public Law Working Paper No. 16-48
Number of pages: 14 Posted: 15 Jun 2016 Last Revised: 13 Dec 2016
Max M. Schanzenbach and Robert H. Sitkoff
Northwestern University - Pritzker School of Law and Harvard University - Harvard Law School
Downloads 484 (83,516)

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fiduciary, fiduciary investment, prudent investor rule, Department of Labor, retirement account, pension account, ERISA, best interest, modern portfolio theory, investment policy statement, retirement saver

15.

Strategic Judging Under the United States Sentencing Guidelines: Positive Political Theory and Evidence

Northwestern University School of Law, Law and Economics Research Paper Series, Forthcoming
Number of pages: 51 Posted: 06 Apr 2005
Max M. Schanzenbach and Emerson H. Tiller
Northwestern University - Pritzker School of Law and Northwestern University - Pritzker School of Law
Downloads 401 (104,044)
Citation 8

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Law and positive political theory, judges, judicial hierarchy, law and politics, criminal sentencing, sentencing guidelines

16.

Financial Advisers Can't Overlook the Prudent Investor Rule

Journal of Financial Planning (August 2016), Northwestern Law & Econ Research Paper No. 16-14, Harvard Public Law Working Paper No. 17-01
Number of pages: 4 Posted: 09 Aug 2016 Last Revised: 05 Apr 2017
Max M. Schanzenbach and Robert H. Sitkoff
Northwestern University - Pritzker School of Law and Harvard University - Harvard Law School
Downloads 353 (120,163)

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fiduciary, fiduciary investment, prudent investor rule, Department of Labor, retirement account, pension account, ERISA, best interest, modern portfolio theory, investment policy statement, retirement saver

17.

Reviewing the Sentencing Guidelines: Judicial Politics, Empirical Evidence, and Reform

Northwestern Public Law Research Paper No. 07-17
Number of pages: 61 Posted: 21 Jun 2007
Max M. Schanzenbach and Emerson H. Tiller
Northwestern University - Pritzker School of Law and Northwestern University - Pritzker School of Law
Downloads 328 (130,124)
Citation 12

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Judicial decision-making, criminal law, sentencing, political science

18.

Fiduciary Financial Advisers and the Incoherence of a 'High-Quality Low-Fee' Safe Harbor

Northwestern Law & Econ Research Paper No. 15-18
Number of pages: 28 Posted: 19 Sep 2015 Last Revised: 25 Nov 2015
Max M. Schanzenbach and Robert H. Sitkoff
Northwestern University - Pritzker School of Law and Harvard University - Harvard Law School
Downloads 264 (162,738)

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fiduciary, fiduciary investment, prudent investor rule, Department of Labor, retirement account, pension account, ERISA, best interest, safe harbor, modern portfolio theory

19.

Policing Politics at Sentencing

Northwestern University Law Review, Vol. 103, pp. 1371, 2009, U of Penn Law School, Public Law Research Paper No. 08-37, Northwestern Public Law Research Paper No. 08-29
Number of pages: 28 Posted: 07 Mar 2008 Last Revised: 12 Nov 2009
Stephanos Bibas, Max M. Schanzenbach and Emerson H. Tiller
University of Pennsylvania Law School, Northwestern University - Pritzker School of Law and Northwestern University - Pritzker School of Law
Downloads 255 (168,458)

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criminal law and procedure, sentencing, guidelines, discretion

20.

Do Standards of Review Matter? The Case of Federal Criminal Sentencing

40 Journal of Legal Studies 405 (2011), Virginia Public Law and Legal Theory Research Paper No. 2010-23
Number of pages: 37 Posted: 16 Jul 2009 Last Revised: 04 Jul 2012
Joshua B. Fischman and Max M. Schanzenbach
University of Virginia School of Law and Northwestern University - Pritzker School of Law
Downloads 251 (171,042)
Citation 1

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21.

The Impact of Tort Reform on Employer-Sponsored Health Insurance Premiums

Downloads 222 (192,317)
Citation 6

The Impact of Tort Reform on Employer-Sponsored Health Insurance Premiums

Journal of Law, Economics, and Organization, December 2010, CELS 2009 4th Annual Conference on Empirical Legal Studies Paper, U of Texas Law, Law and Econ Research Paper No. 196
Number of pages: 30 Posted: 02 Aug 2009 Last Revised: 14 Feb 2011
Ronen Avraham, Leemore S. Dafny and Max M. Schanzenbach
Tel Aviv University - Buchmann Faculty of Law, Northwestern University - Department of Management & Strategy and Northwestern University - Pritzker School of Law
Downloads 187 (224,797)
Citation 7

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health care reform, tort reform, insruance

The Impact of Tort Reform on Employer-Sponsored Health Insurance Premiums

NBER Working Paper No. w15371
Number of pages: 41 Posted: 28 Sep 2009 Last Revised: 03 Jul 2022
Ronen Avraham, Leemore S. Dafny and Max M. Schanzenbach
Tel Aviv University - Buchmann Faculty of Law, Northwestern University - Department of Management & Strategy and Northwestern University - Pritzker School of Law
Downloads 35 (614,939)

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22.

The Impact of Tort Reform on Intensity of Treatment: Evidence from the Heart Patients

Journal of Health and Economics Volume 39, pp 273-288 (January 2015)
Number of pages: 49 Posted: 02 Aug 2009 Last Revised: 25 Jul 2019
Ronen Avraham and Max M. Schanzenbach
Tel Aviv University - Buchmann Faculty of Law and Northwestern University - Pritzker School of Law
Downloads 217 (196,554)
Citation 10

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defensive medicine, induced demand, offensive medicine, tort reform

23.

Does Discipline Decrease Police Misconduct? Evidence from Chicago Civilian Allegations

Number of pages: 70 Posted: 22 Sep 2020 Last Revised: 24 May 2021
Kyle Rozema and Max M. Schanzenbach
Washington University in St. Louis - School of Law and Northwestern University - Pritzker School of Law
Downloads 203 (209,042)

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Police misconduct, deterrence, discipline

24.

Fiduciary Duty, Social Conscience, and ESG Investing by a Trustee

55 Annual Heckerling Institute on Estate Planning (Tina Portando, ed., 2021)
Number of pages: 64 Posted: 10 Nov 2021
Max M. Schanzenbach and Robert H. Sitkoff
Northwestern University - Pritzker School of Law and Harvard University - Harvard Law School
Downloads 169 (245,151)

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Trusts, trustee, prudent investor rule, ESG, environmental social and governance, law and economics, law and finance, trust, pension, charity, endowment, active investing, active shareholding, contrarian investment, SRI, socially responsible investment, ethical investing, sustainable investing

25.

Risk Management and the Prudent Investor Rule

Trusts & Estates Magazine, November 2020, Northwestern Law & Econ Research Paper No. 20-11
Number of pages: 6 Posted: 25 Jan 2021 Last Revised: 10 Feb 2021
Max M. Schanzenbach and Robert H. Sitkoff
Northwestern University - Pritzker School of Law and Harvard University - Harvard Law School
Downloads 161 (255,396)

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prudent man rule, prudent investor rule, trust investment, fiduciary investment, prudent investor, modern portfolio theory, agency costs, fiduciary, fiduciary duties, risk tolerance, rebalancing, portfolio management

26.

Policing the Police: Personnel Management and Police Misconduct

Northwestern Law & Econ Research Paper No. 21-11, Northwestern Public Law Research Paper No. 21-32
Number of pages: 33 Posted: 15 Dec 2021 Last Revised: 15 Mar 2022
Max M. Schanzenbach
Northwestern University - Pritzker School of Law
Downloads 147 (274,930)

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Policing, Personnel Economics, Public Sector Labor Relations, Police Unions, Police Misconduct, Public Sector Labor Management

27.

Reclaiming Fiduciary Law for the City

Stanford Law Review, Vol. 70, February 2018
Number of pages: 78 Posted: 08 Mar 2018
Max M. Schanzenbach and Nadav Shoked
Northwestern University - Pritzker School of Law and Northwestern University School of Law
Downloads 99 (365,471)

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fiduciary duties, local government, duty of care, public trust

28.

Comment Letter of Professors Max M. Schanzenbach and Robert H. Sitkoff on the Securities and Exchange Commission’s Request for Comment on the Names Rule for Mutual Funds in Light of ESG Investing and Other Market Developments

Northwestern Law & Econ Research Paper No. 20-05
Number of pages: 9 Posted: 19 Jun 2020 Last Revised: 04 Aug 2020
Max M. Schanzenbach and Robert H. Sitkoff
Northwestern University - Pritzker School of Law and Harvard University - Harvard Law School
Downloads 91 (385,254)

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Trustee, Prudent Investor Rule, Loyalty, Names Rule, Mutual Fund, Investment Company, Investment Company Act, ESG, Environmental Social and Governance, Law and Economics, Law and Finance, Trust, Pension, Charity, Endowment, Active Investing

29.

Handcuffing Justice: The Shaky Empirical Foundations of the Feeney Amendment

Number of pages: 53 Posted: 17 Feb 2005
Max M. Schanzenbach
Northwestern University - Pritzker School of Law
Downloads 87 (395,963)

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Criminal Law, Procedure, Economics, Law

30.

Comment Letter of Professors Max M. Schanzenbach and Robert H. Sitkoff on the Department of Labor’s Proposed Rulemaking on Financial Factors in Selecting Plan Investments

Harvard Public Law Working Paper No. 20-24, Northwestern Law & Econ Research Paper No. 20-12
Number of pages: 12 Posted: 04 Sep 2020 Last Revised: 12 Mar 2021
Max M. Schanzenbach and Robert H. Sitkoff
Northwestern University - Pritzker School of Law and Harvard University - Harvard Law School
Downloads 78 (422,170)
Citation 1

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Trustee, Prudent Investor Rule, Loyalty, Names Rule, Mutual Fund, Investment Company, Investment Company Act, ESG, Environmental Social and Governance, Law and Economics, Law and Finance, Trust, Pension, Charity, Endowment, Active Investing

31.

The State and Local Pay Penalty: The Effect of Skill and College Major

Northwestern Law & Econ Research Paper No. 13-36
Number of pages: 59 Posted: 31 Oct 2013 Last Revised: 10 Dec 2015
Max M. Schanzenbach
Northwestern University - Pritzker School of Law
Downloads 59 (487,942)

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Public sector economics, wage differentials

32.

Comment Letter of Professors Max M. Schanzenbach and Robert H. Sitkoff on the Department of Labor's Proposed Rulemaking on Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights

Northwestern Law & Econ Research Paper Forthcoming, Northwestern Public Law Research Paper Forthcoming
Number of pages: 8 Posted: 21 Dec 2021 Last Revised: 15 Mar 2022
Max M. Schanzenbach and Robert H. Sitkoff
Northwestern University - Pritzker School of Law and Harvard University - Harvard Law School
Downloads 31 (624,576)

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Trustee, Prudent Investor Rule, Loyalty, Mutual Fund, ESG, Environmental Social and Governance, Law and Economics, Law and Finance, Trust, Pension, Charity, Endowment, Active Investing, ERISA

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Discrimination, Law, Justice, Criminal, Procedure, Law and Economics