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Between the various power grabs and dubious regulatory proposals (each more dubious than the last!) from the likes of Geithner, Bernanke, Frank (.pdf), Dodd, etc., etc. you’d be excused for thinking the financial news from Washington (remember when financial news used to come from New York?) was all bad and growing only worse. But there ... A bright spot in the bleak financial industry regulatory firmament
Professor Bainbridge reports. Hmmm….Possible market power, deceptive conduct, and increase in prices? Just saying.
My colleague Tom Hazlett and his Information Economy Project at GMU is putting on a wonderful conference this week. The public event is a debate between Michael Heller and Richard Epstein on the Gridlock Economy. Following that event is an academic conference including: Harold Demsetz, Michael Meurer, F. Scott Kieff, Adam Mossoff, Kevin Werbach, Thomas ... Tragedies of the Gridlock Economy at George Mason University Information Economy Project
Some serious reading first on American Needle, Inc. v. National Football League, No. 08-661 (U.S. S. Ct.): The FTC/DOJ Amicus brief in James Keyte and Paul Eckles (Skadden) on Sports Leagues and the Rule of Reason Chris Sagers in the Antitrust Source Michael McCann (Vermont Law School) forthcoming in the Yale Journal on the sports ... The NFL and the Theory of the Firm
Volume 16, Issue 4 of the George Mason Law Review (which I received in my mailbox today) has a well timed issue from its antitrust symposium featuring several articles on revisions to the Merger Guidelines. Especially recommended is DOJ economist Greg Werden’s article here, which usefully sets the stage for some of the important debates. ... Merger Guidelines Reading
As I skimmed through the White House White Paper on innovation (HT: Patently-O), I noticed that a repeated theme in the document is that US innovation policy must “Promote Competitive Markets that Spur Productive Entrepreneurship” (e.g., p. 9). There is no real substantive discussion of antitrust issues in the White Paper, except for the following ... Antitrust to Protect "Small Dealers and Worthy Men"?
The possibility of new Merger Guidelines has been much discussed in the antitrust community, particularly in light of appointment of the two new chief agency economists, Carl Shapiro and Joe Farrell, who have done substantial work on the economics of horizontal mergers and market definition. Today, the FTC and DOJ announced a series of workshops ... Coming Soon: New Merger Guidelines
The Chicago Public Radio series “This American Life” has an installment on price-fixing that antitrust buffs might be interested in (HT: former student Jan Rybnicek). The series features an interview with Kurt Eichenwald, author of the Informant, the book now turned movie (featuring Matt Damon) centering around the Archers Daniel Midland price-fixing conpsiracy.
I noted last week that my colleague (and Volokh Conspirator) Todd Zywicki and I had written an essay, published in a Fin Reg 21 Symposium on the Consumer Financial Protection Agency Act of 2009, on “Three Problematic Truths About the Consumer Financial Protection Agency Act of 2009.” The essay is now available on SSRN for ... Wright & Zywicki on the Consumer Financial Protection Agency Act of 2009
If you’re in Chicago next week, and even if you’re not, go check out the Second Annual Searle Center Antitrust Economics and Competition Policy conference at Northwestern University School of Law. The conference will take place September 25th and 26th and has a great lineup including a pretty good mix of theory and empirics. My ... Searle Antitrust Economics and Competition Policy Conference
Not very, according to the President in his recent health care speech, making the case that lack of competition and for-profit monopolists are what ails the health care market: “Consumers do better when there is choice and competition. Unfortunately, in 34 states, 75% of the insurance market is controlled by five or fewer companies. In ... How Competitive Is the Health Insurance Market, Really?
The ABA Journal (HT: Steve Salop) has an interesting item suggesting that Jones Day’s policy of keeping compensation secret might be paying dividends in a tough economic climate: Jones Day’s secrecy surrounding compensation may be aiding its rapid expansion in the San Francisco Bay area. Jones Day has grown from a couple of dozen Bay ... The Economic Benefits of Secrecy