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Who Killed Market Definition?
Louis Kaplow’s Why (Ever) Define Markets? in the Harvard Law Review was one of the most provocative papers in the antitrust literature over the past few years. We’ve discussed it here. I wrote: Kaplow provocatively argues that the entire “market definition/ market share” paradigm of antitrust is misguided and beyond repair. Kaplow describes the exclusive ... Who Killed Market Definition?
SCOTUS Grants Certiorari in Phoebe Putney
From Bloomberg: The U.S. Supreme Court said it will decide whether states can block antitrust scrutiny of hospital mergers such as Phoebe Putney Health System Inc.’s acquisition of Palmyra Park Hospital in Georgia. The justices today said they will hear the Federal Trade Commission’s appeal of a U.S. appellate court ruling that the proposed purchase of HCA Inc.-owned ... SCOTUS Grants Certiorari in Phoebe Putney
Leonhardt on the Age Gap
In today’s New York Times David Leonhardt has a pretty amazing article. He tells us that “polls suggest that Mitt Romney will win a landslide among the over-65 crowd and that President Obama will do likewise among those under 40.” He links to the Gallup Poll for this evidence. ( I generally don’t follow polls; ... Leonhardt on the Age Gap
Economist Kevin Murphy to Charles River Associates
I am very pleased to report that Kevin Murphy – economist extraordinaire, recipient of the MacArthur Fellowship, Bates Clark Medal winner, and of course, fellow UCLA Bruin — has agreed to join Charles River Associates as a Senior Consultant beginning May 2013 when his contract with Navigant Economics expires. As a fellow Senior Consultant at ... Economist Kevin Murphy to Charles River Associates
CPI Interview and Update on Ginsburg & Wrights’ “Antitrust Sanctions”
Competition Policy International has published an interview with Judge Douglas Ginsburg and me following up on our 2010 article “Antitrust Sanctions.” The interview ranges from topics such as whether the Occupy movements impact our proposal for use of debarment as an antitrust sanction in the United States to fairness concerns and global trends in antitrust ... CPI Interview and Update on Ginsburg & Wrights’ “Antitrust Sanctions”
UMG-EMI Deal Is No Threat To Innovation In Music Distribution
Everyone loves to hate record labels. For years, copyright-bashers have ranted about the “Big Labels” trying to thwart new models for distributing music in terms that would make JFK assassination conspiracy theorists blush. Now they’ve turned their sites on the pending merger between Universal Music Group and EMI, insisting the deal would be bad for ... UMG-EMI Deal Is No Threat To Innovation In Music Distribution
Contemplating Disclosure-Based Insider Trading Regulation
TOTM friend Stephen Bainbridge is editing a new book on insider trading. He kindly invited me to contribute a chapter, which I’ve now posted to SSRN (download here). In the chapter, I consider whether a disclosure-based approach might be the best way to regulate insider trading. As law and economics scholars have long recognized, informed stock trading may create both harms and benefits ... Contemplating Disclosure-Based Insider Trading Regulation
Ginsburg & Wright on Dynamic Analysis and the Limits of Antitrust Institutions
Judge Douglas Ginsburg (D.C. Circuit Court of Appeals; NYU Law) and I have posted “Dynamic Antitrust and the Limits of Antitrust Institutions” to SSRN. Our article is forthcoming in Volume 78 (2) of the Antitrust Law Journal. We offer a cautionary note – from an institutional perspective – concerning the ever-increasing and influential calls for greater ... Ginsburg & Wright on Dynamic Analysis and the Limits of Antitrust Institutions
Changes at the FTC Bureau of Economics
Recently, the FTC announced that Howard Shelanksi would be taking charge of the Bureau of Economics on July 1st. Now comes news that DOJ economist Ken Heyer (and UCLA Bruin!) — longtime Economics Director at the Division — will be moving over to the Commission as Deputy Director for Antitrust. Leemore Dafny (Northwestern) will also come ... Changes at the FTC Bureau of Economics
RIP, Elinor Ostrom
Nobel Laureate (and UCLA alumna) Elinor Ostrom has passed. From the IU press release: The entire Indiana University community mourns the passing today of Distinguished Professor Elinor Ostrom, who received the 2009 Nobel Prize in Economic Sciences for her groundbreaking research on the ways that people organize themselves to manage resources. Ostrom, 78, died of ... RIP, Elinor Ostrom
Wise and Timely Counsel from John Taylor, F.A. Hayek, and Reagan’s Economic Advisers
In light of yesterday’s abysmal jobs report, yesterday’s Wall Street Journal op-ed by Stanford economist John B. Taylor (Rules for America’s Road to Recovery) is a must-read. Taylor begins by identifying what he believes is the key hindrance to economic recovery in the U.S.: In my view, unpredictable economic policy—massive fiscal “stimulus” and ballooning debt, the Federal ... Wise and Timely Counsel from John Taylor, F.A. Hayek, and Reagan’s Economic Advisers
New Article Forthcoming in Yale Law Journal: The Antitrust/ Consumer Protection Paradox: Two Policies At War With One Another
Yale Law Journal has published my article on “The Antitrust/ Consumer Protection Paradox: Two Policies At War With One Another.” The hat tip to Robert Bork’s classic “Antitrust Paradox” in the title will be apparent to many readers. The primary purpose of the article is to identify an emerging and serious conflict between antitrust and ... New Article Forthcoming in Yale Law Journal: The Antitrust/ Consumer Protection Paradox: Two Policies At War With One Another
