I would like Liebowitz and Margolis work more if they'd actually done any research.  If you bother to go find the original <i>Journal of Law and Economics</i> paper, you will see that the paper consists only of hand-waving criticism, and has no original research.  I suppose a paper of this form has a place, but you'd think that in the intervening 20 years, someone, someonwhere would try to confirm or deny.<p>But that hasn't happened, as far as I know.