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Amit Singhal on the Past, Present, and Future of Search
Pretty interesting interview with Google’s Senior VP Amit Singhal on where search technology is headed. In the article, Singhal describes the shift from a content-based, keyword index to incorporating links and other signals to improve query results. The most interesting part of the interview is about what is next. Google now wants to transform words that ... Amit Singhal on the Past, Present, and Future of Search
Lessons in Regulatory Barriers to Entry: San Francisco Ice Cream Shop Edition
A great video recounting the trials and tribulations of an entrepreneur and her attempts to open an ice cream shop in San Francisco (HT: Scott James at the NY Times and Craig Newmark). From the NY Times story: Ms. Pries said it took two years to open the restaurant, due largely to the city’s morass ... Lessons in Regulatory Barriers to Entry: San Francisco Ice Cream Shop Edition
Free to Err? An Exchange on Behavioral Law and Economics at the Liberty Forum
Douglas Ginsburg and I have posted “Free to Err: Behavioral Law and Economics and its Implications for Liberty” on the new and very good Liberty Forum. Our contribution is based upon a more comprehensive analysis of the implications of behavioral law and economics for both economic welfare and liberty forthcoming in the Northwestern Law Review. ... Free to Err? An Exchange on Behavioral Law and Economics at the Liberty Forum
Concurrences Antitrust Writing Awards 2012
The Institute for Competition Law and GW Law have put together the Antitrust Writing Awards. You can vote on academic or business articles here. I’m very pleased to report that one of my articles — Does Antitrust Enforcement in High-Tech Markets Benefit Consumers? Stock Price Evidence from FTC v. Intel (Review of Industrial Organization) — ... Concurrences Antitrust Writing Awards 2012
The Magical World of Mandates
It seems President Obama has discovered a magical cure for his contraception controversy: simply force insurance companies to provide free coverage for contraceptive services, but only for women who work for organizations that qualify for exemption from the original mandate that requires contraceptive coverage be part of any respectable (i.e., Obama-approved) health plan. Never mind ... The Magical World of Mandates
Randomizing Regulation
An interesting post on the University of Pennsylvania Reg Blog from Michael Abramowicz, Ian Ayres, and Yair Listokin (AAY) on “Randomizing Regulation,” based upon their piece in the U Penn L. Rev. If legislators disagree about the efficacy of a proposed policy, why not resolve the disagreement with a bet? One approach would be to impose ... Randomizing Regulation
Collective Moral Hazard, Maturity Mismatch, and Systemic Bailouts
That’s the title of an interesting article by Emmanuel Farhi and Jean Tirole in the current issue of the American Economic Review. Here’s the abstract (emphasis added): The article shows that time-consistent, imperfectly targeted support to distressed institutions makes private leverage choices strategic complements. When everyone engages in maturity mismatch, authorities have little choice but ... Collective Moral Hazard, Maturity Mismatch, and Systemic Bailouts
Reference Bloat in Management Journals Meets its Match
Peter Klein offers up some thoughts on “reference bloat” in academic journals: Nature News (via Bronwyn Hall): One in five academics in a variety of social science and business fields say they have been asked to pad their papers with superfluous references in order to get published. The figures, from a survey published today in ... Reference Bloat in Management Journals Meets its Match
Do Expert Agencies Outperform Generalist Judges? Some Preliminary Evidence from the Federal Trade Commission
I’ve posted a new project in progress (co-authored with Angela Diveley) to SSRN. In “Do Expert Agencies Outperform Generalist Judges?”, we attempt to examine the relative performance FTC Commissioners and generalist Article III federal court judges in antitrust cases and find some evidence undermining the oft-invoked assumption that Commission expertise leads to superior performance in ... Do Expert Agencies Outperform Generalist Judges? Some Preliminary Evidence from the Federal Trade Commission
Further Empirical Evidence on Forum Shopping in Philadelphia Civil Courts
Late last year, with support from the International Center for Law and Economics, I published a paper that empirically analyzed the Philadelphia civil court system. That study focused upon the Philadelphia Complex Litigation Center (PCLC) which handles large mass tort programs including asbestos cases, hormone therapy replacement cases, various prescription drug-related injuries, and other mass ... Further Empirical Evidence on Forum Shopping in Philadelphia Civil Courts
Congratulations to Bill Baer
President Obama has, as rumored, appointed Bill Baer (Arnold & Porter) to head the Antitrust Division. Reuters reports: Baer, who is the chair of Arnold and Porter’s Antitrust Practice Group, also previously headed the Federal Trade Commission’s competition division when it stopped a merger between Staples and Office Depot in 1997. He will replace Sharis ... Congratulations to Bill Baer
The Federal Reserve Weighs in on Housing Policy
Last month, the Federal Reserve released a study, titled “The U.S. Housing Market: Current Conditions and Policy Considerations,” which offers prescriptions on how to cure the housing mess. Given the importance of this issue to the nation’s economic wellbeing—a large portion of our assets are tied up in real estate, and the associated housing-wealth effects ... The Federal Reserve Weighs in on Housing Policy
