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Summary Judgment Granted in Mayer Laboratories v. Church & Dwight
Judge Edward Chen in the Northern District of California granted Church & Dwight’s motion for summary judgment as to Mayer Laboratories antitrust claims involving Church & Dwight’s shelf space agreements with retailers in the condom market. Church & Dwight is the manufacturer of Trojan brand condoms. Specifically, Mayer argued that Church & Dwight’s shelf space ... Summary Judgment Granted in Mayer Laboratories v. Church & Dwight
CEO Vacations and Stock Prices
An interesting looking empirical piece from David Yermack (NYU), Tailspotting: How Disclosure, Stock Prices and Volatility Change When CEOs Fly to Their Vacation Homes. I haven’t read it closely yet. Here’s the abstract: This paper shows close connections between CEOs’ vacation schedules and corporate news disclosures. Identify vacations by merging corporate jet flight histories with ... CEO Vacations and Stock Prices
Happy 98th Birthday to Armen Alchian!
The great economist Armen Alchian turned 98 yesterday. Armen is the father of the UCLA tradition in economics. I had the great honor of having Armen on my dissertation committee and cannot imagine being prouder of my association with him. Armen’s contributions to economics as diverse as they are penetrating. Armen was one of the ... Happy 98th Birthday to Armen Alchian!
The procompetitive story that could undermine the DOJ’s e-books antitrust case against Apple
Did Apple conspire with e-book publishers to raise e-book prices? That’s what DOJ argues in a lawsuit filed yesterday. But does that violate the antitrust laws? Not necessarily—and even if it does, perhaps it shouldn’t. Antitrust’s sole goal is maximizing consumer welfare. While that generally means antitrust regulators should focus on lower prices, the situation is more ... The procompetitive story that could undermine the DOJ’s e-books antitrust case against Apple
Joking about politics
On November 3rd, the president of the United States spoke at the Hotel Lowry in St. Paul, Minnesota, in what was billed repeatedly as a bi-partisan address. The president ridiculed reactionaries in Congress who he claimed represented the wealthy and the powerful, and whose “theory seems to be that if these groups are prosperous, they ... Joking about politics
Steve Salop Wins Global Competition Review Academic Excellence Award
Congratulations to my friend, colleague, and occasional TOTM contributor Steve Salop (Georgetown Law) on winning Global Competition Review’s Academic Excellence Award this year. From the announcement: Around 1,500 Global Competition Review (GCR) readers cast their votes, honoring outstanding individuals in such areas as competition law and economics around the world. GCR is the world’s leading ... Steve Salop Wins Global Competition Review Academic Excellence Award
Gary Becker, the Economic Approach to Crime, and Guerilla Grafters
Fruit trees in a number of cities, including San Francisco, are prevented from bearing fruit in the name of “protecting” pedestrians from slip and falls and keeping away insects and vermin. In response to these regulations, a group of Guerilla Grafters has emerged to — you guessed it — graft fruit bearing branches onto the ... Gary Becker, the Economic Approach to Crime, and Guerilla Grafters
I Will be Participating Today on the Live Webcast “This Week in Law”
Today at 11AM PT I will be participating on the live webcast “This Week in Law” along with TechFreedom Senior Adjunct Fellow Larry Downes. Denise Howell will be hosting and we will also be joined by fellow participant Evan Brown. This week we will be discussing various topics in tech policy including Senator Al Franken’s ... I Will be Participating Today on the Live Webcast “This Week in Law”
Europe Should Let Competition Run Its Course In Motorola Patent Dispute
On Tuesday the European Commission opened formal proceedings against Motorola Mobility based on its patent licensing practices surrounding some of its core cellular telephony, Internet video and Wi-fi technology. The Commission’s concerns, echoing those raised by Microsoft and Apple, center on Motorola’s allegedly high royalty rates and its efforts to use injunctions to enforce the ... Europe Should Let Competition Run Its Course In Motorola Patent Dispute
Halbert White, RIP
Renowned UCSD economics professor, and founder of Bates White, Halbert White died on Saturday. His CV is here. James Hamilton offers a touching tribute and wonderful summary of White’s important work in econometrics here. Of White standard errors, perhaps his most well known contribution, Hamilton explains: An example arises in ordinary regression analysis, in which ... Halbert White, RIP
My Professor, My Judge, and the Doctrine of Judicial Review
Imagine if you picked up your morning paper to read that one of your astronomy professors had publicly questioned whether the earth, in fact, revolves around the sun. Or suppose that one of your economics professors was quoted as saying that consumers would purchase more gasoline if the price would simply rise. Or maybe your ... My Professor, My Judge, and the Doctrine of Judicial Review
Potential Problems with an FDA Model for Regulating Financial Products
New York Times columnist Gretchen Morgenson is arguing for a “pre-clearance” approach to regulating new financial products: The Food and Drug Administration vets new drugs before they reach the market. But imagine if there were a Wall Street version of the F.D.A. — an agency that examined new financial instruments and ensured that they were safe and ... Potential Problems with an FDA Model for Regulating Financial Products
