Showing results for: “digital markets act”
The First Amendment, the securities laws and hedge funds
I have been writing for some time about the First Amendment and the securities laws. In a nutshell, the formerly inviolate notion that the securities laws are a First-Amendment-free zone has always been constitutionally questionable. The questions multiply with the expansion of the securities laws. The Supreme Court’s recent broad endorsement of the application of the ... The First Amendment, the securities laws and hedge funds
Attention Economists and Economics Graduate Students: Want to Go to Law School?
I have recently joined my colleague Bruce Johnsen as a co director of the Robert A. Levy Fellowship in Law and Liberty at GMU Law. It is a very generous fellowship — a tuition waiver plus a generous stipend — for economists who have their PhD’s or “ABD” status to come to law school on ... Attention Economists and Economics Graduate Students: Want to Go to Law School?
My article on the hydraulic theory of disclosure regulation
My article, The Hydraulic Theory of Disclosure Regulation and Other Costs of Disclosure is available at SSRN. Although it will be published in the Alabama Law Review in January (or so), it is still in pretty rough form — the timing of various events dictated submission to law reviews before I solicited comments or finalized ... My article on the hydraulic theory of disclosure regulation
First reactions to the Intel Settlement
I just finished watching the FTC webcast announcing the Intel settlement and did a quick read over the agreement itself. Some quick high-level reactions: The tone of the press conference was triumphant, of course. Leibowitz claimed that the FTC got 22 out of 26 of the remedies proposed in the complaint and that Intel, which ... First reactions to the Intel Settlement
The nature of the L3C
LLCs have always been all about experimentation. This keeps things interesting for those like me who study them. It also provides evidence of the laboratory of state law at work, particularly in business associations, and more particularly uncorporations. But not all experiments are successful. Sometimes it’s television, sometimes it’s electric underwear. Witness the L3C, or ... The nature of the L3C
FTC UMC Roundup – Circular Firing Squad Edition
Welcome to the FTC UMC Roundup for June 17, 2022. This week’s roundup is a bit shorter – but only because your narrator would rather be out climbing mountains in Squamish, BC, than reading or writing about Sen. Amy Klobuchar’s (D-MN) pretty bad week. From where I sit, me climbing a multipitch 5.13 mountain looks ... FTC UMC Roundup – Circular Firing Squad Edition
My Office Door
University professors often post things on their office doors—photos, news clippings, conference posters, political cartoons. I’ve never been much for that. The objective, I assume, is to express something about yourself: who you are, what interests you, what values you hold. I’ve never participated in this custom because I haven’t wanted to alienate students who ... My Office Door
ICLE urges Supreme Court to review DC Circuit decision in Open Internet Order case
Today the International Center for Law & Economics (ICLE) submitted an amicus brief urging the Supreme Court to review the DC Circuit’s 2016 decision upholding the FCC’s 2015 Open Internet Order. The brief was authored by Geoffrey A. Manne, Executive Director of ICLE, and Justin (Gus) Hurwitz, Assistant Professor of Law at the University of Nebraska ... ICLE urges Supreme Court to review DC Circuit decision in Open Internet Order case
Attention Economists and Grad Students: Thought About Law School?
I have recently joined my colleague Bruce Johnsen as a co director of the Robert A. Levy Fellowship in Law and Liberty at GMU Law. It is a very generous fellowship for economists who have their PhD’s or “ABD” status to come to law school on our dime along with a stipend of roughly $27,000 ... Attention Economists and Grad Students: Thought About Law School?
Informational Cascades, Reputational Cascades, Group Polarization, and the Climate Emails
It’s been interesting to observe the responses to the hacked emails from the Climate Research Unit at the University of East Anglia. The emails seem to show leading global warming scientists massaging data to generate the result they prefer (i.e., “I’ve just completed Mike’s Nature trick of adding in the real temps to each series ... Informational Cascades, Reputational Cascades, Group Polarization, and the Climate Emails
Explaining Backdating (and Jenkins Channels Manne Again)
Holman Jenkins reports that a group of economists led by Milton Friedman and Harry Markowitz are getting behind the idea of putting an end to the expensing of options. It is a great column. Jenkins goes on to discuss options backdating and makes the following points, which will sound unfamiliar to TOTM readers: “In no ... Explaining Backdating (and Jenkins Channels Manne Again)
The effect of Van Gorkom and 102(b)(7)
Yaniv Grinstein and and Stefano Rossi have an interesting paper, Good Monitoring, Bad Monitoring, on the effect of corporate law, and specifically of the famous Delaware case Smith v. Van Gorkom and the Delaware legislature’s subsequent “fix” of that result. Here’s the abstract: We estimate the value of monitoring in publicly traded corporations by exploiting ... The effect of Van Gorkom and 102(b)(7)
