Audio/Video: Lee Fennell, "Risk Reversals"

This week's episode of the Faculty Podcast is a recording of Lee Fennell's October 22nd Chicago's Best Ideas lecture on "Risk Reversals" (video has also been added to Bryan Hart's writeup of the talk).

As a refresher, here's Prof. Fennell's description of the talk:

Law often allocates risk, as through tort doctrines. Should people be able to undo or "reverse" such risk allocations by, for example, selling their rights to any claims that may later develop? Scholars have interestingly examined this question, as well as many other innovative ideas for rearranging risk outside of traditional insurance markets. This talk focuses attention on some related but underexplored questions surrounding risk reversibility itself—such as the optimal amount of stickiness in society's default risk allocations, the effects of heterogeneity in risk arrangements, and the implications (cognitive and otherwise) of starting from one risk baseline rather than another.