This podcast is brought to you by the ETH Zurich Center for Law & Economics. We discuss current topic in intellectual property law, the law of emerging technologies, experimental law & economics, law & tech, and machine learning.
Science under Inquisition — Roberto Galbiati (CNRS-Sciences Po & CEPR)
In this episode of the CLE Vlog & Podcast Series, Prof. Roberto Galbiati (CNRS-Sciences Po & CEPR) talks about his paper "Science under Inquisition: The Allocation of Talent in Early Modern Europe" with Benjamin Kohler (ETH Zurich).
In their study, Roberto Galbiati and his co-authors Edgard Dewitte, Francesco Drago, and Giulio Zanella explore how the Roman Inquisition shaped the development of science in Europe during the Scientific Revolution. Focusing on the 16th and 17th centuries, they combine historical evidence with an economic model of how talented individuals made decisions about their careers and where to live and work. The paper sheds light on the complex relationship between institutions, the threat of punishment, scientific production, and economic growth.
Paper References:
Edgard Dewitte (University of California, Berkeley)
Francesco Drago (European University Institute & CEPR)
Roberto Galbiati (CNRS-Sciences Po Paris & CEPR)
Giulio Zanella (University of Bologna)
Science under Inquisition: The Allocation of Talent in Early Modern Europe
https://sites.google.com/view/galbiatir1/research
Audio Credits for Trailer:
AllttA by AllttA https://youtu.be/ZawLOcbQZ2w
12 Aug 2026
Divesting University Endowments — Max Schanzenbach (Northwestern University)
In this episode of the CLE Vlog & Podcast Series, Max Schanzenbach (Northwestern University) and Karol Rutkowski (ETH Zurich) discuss the paper "Divesting University Endowments", which examines the legal and financial principles governing university endowment divestment and evaluates both historical and current divestment efforts.
Professors Schanzenbach and Sitkoff (Harvard University), the authors of the study, argue that nonfinancial divestment is legally permissible only when it aligns with a university's charitable mission of research and education and has a reasonable impact on the endowment portfolio — a standard that is difficult to meet under modern investment practices. They also find that, contrary to common belief, universities have rarely undertaken broad divestment campaigns, including during apartheid in South Africa. The authors demonstrate that a divestment for moral abhorrence could pass fiduciary muster as consistent with the public benefit principle of charity law if supported by a clear public policy established by confirmatory governmental actions.
Paper Reference:
Max Schanzenbach (Northwestern University)
Robert H. Sitkoff (Harvard University)
Divesting University Endowments
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=6332018
Audio Credits for Trailer:
AllttA by AllttA
https://youtu.be/ZawLOcbQZ2w
21 Jul 2026
Money and Social Exclusion in Networks — Maria Bigoni (University of Bologna)
Globalization creates new opportunities for cooperation across vast networks of individuals who may never meet. Social exclusion and monetary exchange are institutions that in theory can incentivize cooperation. But what encourages cooperation most effectively – money or social exclusion?
In this episode of the CLE Vlog & Podcast Series, Prof. Maria Bigoni (University of Bologna) and Maurizia Di Buono (ETH Zurich) discuss Prof. Bigoni's paper "Money and Social Exclusion in Networks" (joint with Gabriele Camera and Eoardo Gallo). In an experiment, the authors evaluate the relative performance and interaction of monetary exchange and social exclusion in anonymous networks of different sizes. The results suggest that monetary exchange and temporary social exclusion perform similarly well in small networks. In large networks, however, monetary exchange is the only institution that promotes full cooperation by crowding out ostracism and keeping the network complete.
The study offers an important insight: in an increasingly globalized world, well-functioning monetary systems are more effective than social exclusion in fostering cooperation across large and diverse communities.
Paper Reference:
Maria Bigoni (University of Bologna)
Gabriele Camera (Chapman University)
Edoardo Gallo (University of Cambridge)
Money and Social Exclusion in Networks
https://ideas.repec.org/p/chu/wpaper/25-06.htmlAudio
Credits for Trailer:
AllttA by AllttA
https://youtu.be/ZawLOcbQZ2w
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