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In re Pool Corporation: Yet Another Peculiar and Peverse Section 5 Consent from the FTC
TOTM readers know that I’ve long been skeptical of claims that expansive use of Section 5 of the FTC Act will prove productive for consumers. I’ve been critical of recent applications of Section 5 such as Intel and N-Data. Now comes yet another FTC consent decree in PoolCorp. I’m still skeptical. Indeed, PoolCorp appears to ... In re Pool Corporation: Yet Another Peculiar and Peverse Section 5 Consent from the FTC
The NYT on legal education again
Last week the NYT’s David Segal attacked modern legal education in what many bloggers have criticized as an overwrought and inaccurate article. I joined the chorus. Referring to my article Practicing Theory, I noted that Segal had made the often-repeated mistake of blaming legal educators for teaching too much theory and not enough practice when ... The NYT on legal education again
Law professors, amicus briefs and blogging
Richard Fallon thinks that when law professors try to influence public debate, as when they sign amicus briefs, they should know what they’re talking about. Here’s the abstract: With ever mounting frequency, law professors flood the courts with “scholars’ briefs,” in which they advise judges and Supreme Court Justices on how to resolve disputed issues ... Law professors, amicus briefs and blogging
The Washington Post columnists on the Supercommittee
My apologies to TOTM readers for taking last week off. A firm retreat in Phoenix followed by a hearing in Oklahoma City really puts a crimp on one’s fun time. In the meantime, the BCS announced that it is considering eliminating the automatic-qualification offers to BCS conference champions. The ACC and Big East must not ... The Washington Post columnists on the Supercommittee
How Much Search Bias Is There?
My last two posts on search bias (here and here) have analyzed and critiqued Edelman & Lockwood’s small study on search bias. This post extends this same methodology and analysis to a random sample of 1,000 Google queries (released by AOL in 2006), to develop a more comprehensive understanding of own-content bias. As I’ve stressed, ... How Much Search Bias Is There?
The value of law school
Herwig Schlunk updates his analysis of the investment value of a law degree. Here’s the abstract: There continues to be an active debate on the question of whether or not law school is a good investment. I prefer to think of the question not in terms of “whether,” but in terms of “when.” In this ... The value of law school
Some thoughts on in-house lawyers
Those attending the Wisconsin in-house counsel conference this weekend (kudos to Jonathan Lipson for a well-organized and comprehensive program) got a great overview of the problems and opportunities facing the lawyers who work inside corporations. Here’s some brief observations. As previously reported, my own contribution focused on how technology might significantly affect in-house lawyers’ work, ... Some thoughts on in-house lawyers
The NYT on law teaching
The NYT brings another David Segal story on legal education. Today’s sermon: law schools don’t teach “lawyering.” Boiling away the overheated journalism, here’s the indictment: Law profs are richly paid for writing mostly useless law review articles rather than “the essential how-tos of daily practice.” Students study cases about contract law but not contracts. Clinics ... The NYT on law teaching
Holdup Problem, Airline Edition
Economists are all quite familiar with the “holdup problem,” i.e. one contracting partner exploiting the other after asset specific investments have been made. One classic law school textbook example is Alaska Packers v. Domenico in which the Alaska Packers’ Association hired Domenico for the salmon season for $50 plus 2 cents per salmon caught, but ... Holdup Problem, Airline Edition
Mason LEC Programs for Economics & Law Professors
The George Mason LEC has reinstituted the Economics Institute for Law Professors and the Law Institute for Economics Professors. I will be attending as faculty for the Economic Institute for Law Professors, where I will teach various aspects of microeconomic theory along with Michael Baye. The agenda for that program is available here. If you’ve ... Mason LEC Programs for Economics & Law Professors
Why do insiders trade illegally?
Not, as economic theory would predict, because they need the money, according to Bhattacharya and Marshall, Do They Do it for the Money? Here’s the abstract: Using a sample of all top management who were indicted for illegal insider trading in the United States for trades during the period 1989-2002, we explore the economic rationality ... Why do insiders trade illegally?
Teeth-whitening and the law
Teeth whiteners are joining the struggle against regulation. Prior posts have covered licensing of witches, horse teeth floaters, cat groomers, tour guides, taxicabs and, of course, lawyers. Now the WSJ reports that [d]entists are battling with spas, tanning salons and other nondental peddlers of pearly whites from North Carolina to New Jersey and, now, Connecticut ... Teeth-whitening and the law
