Showing results for: “digital markets act”
Facile claims of behavioral economics: too much choice; not enough privacy
Chris Hoofnagle writing at the TAP blog about Facebook’s comprehensive privacy options (“To opt out of full disclosure of most information, it is necessary to click through more than 50 privacy buttons, which then require choosing among a total of more than 170 options.”) claims that: This approach is brilliant. The company can appease regulators ... Facile claims of behavioral economics: too much choice; not enough privacy
An open letter on insider trading to Gene Fama and Ken French
[Post bumped to the top, and cross-posted at Organizations & Markets, in light of our technical difficulties last week and in the hopes of eliciting a response — Eds] Dear Gene and Ken: I must say that I was totally flabbergasted when I read your recent blog posting on insider trading. I know that your ... An open letter on insider trading to Gene Fama and Ken French
Judge Sullivan and the UPP: Much Ado About Nothing or Articulating the Real Problem with the New HMGs?
Much has been made of Judge Sullivan’s recent decision in City of New York v. Group Health Incorporated and its implications for the UPP test and market definition in merger cases under Section 7 of the Clayton Act. Given the 2010 Proposed Horizontal Merger Guidelines’ (2010 HMGs) shift toward diversion ratios and margins and away ... Judge Sullivan and the UPP: Much Ado About Nothing or Articulating the Real Problem with the New HMGs?
Implicit Compensation
The expansive executive compensation literature has two camps: one camp believes markets generally work; the other that they don’t. I am in the former camp, but believe markets and individuals that comprise them make mistakes and that those with power can sometimes use that power to serve their own, selfish ends. The only difference between ... Implicit Compensation
Controlling ATM Fees: Competition Versus Political Fiat
Taking a page from Rahm Emanuel’s never let a serious crisis go to waste playbook, our esteemed senators are loading the pending financial reform legislation, ostensibly aimed at preventing future financial meltdowns, with all sorts of wish-list items that have nothing to do with financial crises. Iowa Senator Tom Harkin, for example, has introduced an ... Controlling ATM Fees: Competition Versus Political Fiat
The Proposed Merger Guidelines: How Much of a Shift?
The proposed Horizontal Merger Guidelines (HMGs) have been treated by some as a major shift in enforcement approach away from a tight structure that begins with market definition to a more flexible and open-ended competitive effects approach. Some of the specific concerns that have been raised are that the proposed HMGs dramatically change enforcement policy ... The Proposed Merger Guidelines: How Much of a Shift?
What’s the Best Way to Pop a Bubble?
[NOTE: I was drafting this post when Henry Manne posted his open letter to Fama and French. I’m hesitant to post over Henry’s important letter, particularly since TOTM was down yesterday and lots of folks may not have seen the letter. I’m doing so only because this post is a good follow-up to Henry’s points ... What’s the Best Way to Pop a Bubble?
An open letter on insider trading to Gene Fama and Ken French
Dear Gene and Ken: I must say that I was totally flabbergasted when I read your recent blog posting on insider trading. I know that your usual posts on investments, which I often cite to friends, are well-informed and empirically-supported; your work over the years on these topics is important and influential—and rightly so. Unfortunately, ... An open letter on insider trading to Gene Fama and Ken French
A first principles approach to antitrust enforcement in the agricultural industry
Like Mike, we also have a short article in the latest issue of the CPI Antitrust Chronicle. Also available on SSRN, for those without a CPI subscription. Here’s our stab at an abstract: There are very few industries that can attract the attention of Congress, multiple federal and state agencies, consumer groups, economists, antitrust lawyers, ... A first principles approach to antitrust enforcement in the agricultural industry
Ag Antitrust and the Packers & Stockyards Act
The theme of the newest issue of the CPI Antitrust Chronicle focuses on agriculture and antitrust. The issue includes a paper by yours truly on the difficulties of effectively using the Packers & Stockyards Act of 1921 as an alternate means for enforcing competition policy in the agriculture sector (see here; also available at SSRN ... Ag Antitrust and the Packers & Stockyards Act
Section 5, Collateral Consequences, and Counting Unicorns
Judge Frank Easterbrook once opined that observing predatory pricing was a bit like seeing a unicorn — in the sense that it was a phenomena around which there was much lore but not much empirical evidence. The debate over the current expansion of Section 5 liability increasingly has become about the search for a different ... Section 5, Collateral Consequences, and Counting Unicorns
Financial Regulation Career Advice
The worst vice is advice, but then again I have so many vices why stop here. I recently put together an email for my securities regulation students to share what little I know that might be useful to their careers, and thought I would offer it to the TOTM community. This advice is intended both ... Financial Regulation Career Advice
