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Brad DeLong's head must have already exploded before he wrote this
I have no intention of wading into the debate over the climate change chapter in Superfreakonomics. I’m sure you all know the controversy: Levitt and Dubner had the temerity to suggest that global warming was a huge problem, that we should look hard for really expensive solutions, and we need to do something. And the ... Brad DeLong's head must have already exploded before he wrote this
TOTM Welcomes New Permanent Blogger J.W. Verret
TOTM is very pleased to announce a new permanent member, J.W. Verret (George Mason). J.W. has been blogging at Volokh Conspiracy recently, but he’s been a guest over at The Conglomerate, and the Harvard Law School Corporate Governance Blog. Quite frankly, it would be difficult to miss him if you’ve been following the recent events ... TOTM Welcomes New Permanent Blogger J.W. Verret
Should Antitrust Exempt Joint Monopsony Conduct to Countervail Monopoly?
Geoff and Josh raise an interesting issue about collective market conduct by buyers. Suppose that a group of final consumers face a monopolist. Should the consumers be permitted to band together into an “association” to jointly negotiate a lower price from the monopolist? Some would say that such buyer “cooperatives” are permitted, whereas others would ... Should Antitrust Exempt Joint Monopsony Conduct to Countervail Monopoly?
Welcome TOTM Guest Blogger Steven C. Salop
Steve Salop is a professor economics and law at the Georgetown University Law Center where he teaches antitrust law and economics and economic reasoning and the law. Steve’s work in antitrust economics pioneered what is now frequently referred to as the “Post-Chicago” approach. His research focuses on antitrust law and economics, and Steve has written ... Welcome TOTM Guest Blogger Steven C. Salop
Next Generation of Antitrust Conference Announcement
Call for Papers The Next Generation of Antitrust Scholarship Conference NYU School of Law January 29, 2010 Co-sponsored by NYU School of Law, American Association of Law Schools – Antitrust and Trade Regulation Section and the American Bar Association – Antitrust Section Conference Co-organizers Harry First – NYU School of Law Ilene Knable Gotts – ... Next Generation of Antitrust Conference Announcement
Announcement: TOTM Merger Guidelines Blog Symposium is Coming!
In light of the DOJ/FTC announcement of workshops to explore possible revisions to the Merger Guidelines in December 2009 and January 2010, TOTM is organizing a symposium on the legal and economic issues associated with the Guidelines. In particular, we’ve asked a panel of a dozen or so of the leading antitrust lawyers and economists ... Announcement: TOTM Merger Guidelines Blog Symposium is Coming!
What Am I Missing About Antitrust Exemptions?
Geoff mentions the pending bills on the Hill that would grant merchants an antitrust exemption to negotiate interchange fees. The insurance industry exemption has also been in the news of late in the wake of the Democrats’ threats of repeal. Here’s what I’m puzzled about. Other than self-interested parties that have a lot to gain ... What Am I Missing About Antitrust Exemptions?
Don't kill interchange fees
Speaking of Josh’s co-author, David Evans, David just testified the other day before the House Financial Services Committee on a bill, the Welch Bill, HR 2382, that would regulate the fees banks charge to each other to process credit card payments. The Welch Bill is actually only one of three pending bills that would regulate ... Don't kill interchange fees
Mathematical Elegance is Not Economics: Another Implication of the Nobel Prize in Economics?
Lots of good reactions to the Nobel for interested readers. This post from Lynne Kiesling and this from Peter Klein (Williamson’s last student) are a good place to start as is just about anything over at Organizations and Markets the last few days. My earlier thoughts are here, including some disappointment that the prize was ... Mathematical Elegance is Not Economics: Another Implication of the Nobel Prize in Economics?
Not From the Onion
Good news. The incoming German government under new Chancellor Angela Merkel says that it is doesn’t plan to “go wild” breaking up companies under the stronger antitrust laws it is considering. See. Nothing to worry about.
Nobel to Ostrom and Williamson (WITH UPDATES)
Excellent choices. Congratulations to Elinor Ostrom and Oliver Williamson in a prize for economic governance, the former for the commons and the latter for the boundaries of the firm! A prize aimed at the economics of institutions and governance, the theory of the firm, and work that has been important for law and economics generally ... Nobel to Ostrom and Williamson (WITH UPDATES)
Will the Public Insurance Plan Be a Predator?
Wall Street Journal columnist Thomas Frank inhabits a simple little world in which private enterprise, in its relentless pursuit of profit (i.e., charging more for something than it’s worth), is consistently a force for evil, and government, populated by wise and benevolent folk who have eschewed riches in favor of public service (see, e.g., Ted ... Will the Public Insurance Plan Be a Predator?
