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Tragedies of the Gridlock Economy at George Mason University Information Economy Project
My colleague Tom Hazlett and his Information Economy Project at GMU is putting on a wonderful conference this week. The public event is a debate between Michael Heller and Richard Epstein on the Gridlock Economy. Following that event is an academic conference including: Harold Demsetz, Michael Meurer, F. Scott Kieff, Adam Mossoff, Kevin Werbach, Thomas ... Tragedies of the Gridlock Economy at George Mason University Information Economy Project
Merger Guidelines Reading
Volume 16, Issue 4 of the George Mason Law Review (which I received in my mailbox today) has a well timed issue from its antitrust symposium featuring several articles on revisions to the Merger Guidelines. Especially recommended is DOJ economist Greg Werden’s article here, which usefully sets the stage for some of the important debates. ... Merger Guidelines Reading
Antitrust to Protect "Small Dealers and Worthy Men"?
As I skimmed through the White House White Paper on innovation (HT: Patently-O), I noticed that a repeated theme in the document is that US innovation policy must “Promote Competitive Markets that Spur Productive Entrepreneurship” (e.g., p. 9). There is no real substantive discussion of antitrust issues in the White Paper, except for the following ... Antitrust to Protect "Small Dealers and Worthy Men"?
Coming Soon: New Merger Guidelines
The possibility of new Merger Guidelines has been much discussed in the antitrust community, particularly in light of appointment of the two new chief agency economists, Carl Shapiro and Joe Farrell, who have done substantial work on the economics of horizontal mergers and market definition. Today, the FTC and DOJ announced a series of workshops ... Coming Soon: New Merger Guidelines
Wright & Zywicki on the Consumer Financial Protection Agency Act of 2009
I noted last week that my colleague (and Volokh Conspirator) Todd Zywicki and I had written an essay, published in a Fin Reg 21 Symposium on the Consumer Financial Protection Agency Act of 2009, on “Three Problematic Truths About the Consumer Financial Protection Agency Act of 2009.” The essay is now available on SSRN for ... Wright & Zywicki on the Consumer Financial Protection Agency Act of 2009
Searle Antitrust Economics and Competition Policy Conference
If you’re in Chicago next week, and even if you’re not, go check out the Second Annual Searle Center Antitrust Economics and Competition Policy conference at Northwestern University School of Law. The conference will take place September 25th and 26th and has a great lineup including a pretty good mix of theory and empirics. My ... Searle Antitrust Economics and Competition Policy Conference
How Competitive Is the Health Insurance Market, Really?
Not very, according to the President in his recent health care speech, making the case that lack of competition and for-profit monopolists are what ails the health care market: “Consumers do better when there is choice and competition. Unfortunately, in 34 states, 75% of the insurance market is controlled by five or fewer companies. In ... How Competitive Is the Health Insurance Market, Really?
The Economic Benefits of Secrecy
The ABA Journal (HT: Steve Salop) has an interesting item suggesting that Jones Day’s policy of keeping compensation secret might be paying dividends in a tough economic climate: Jones Day’s secrecy surrounding compensation may be aiding its rapid expansion in the San Francisco Bay area. Jones Day has grown from a couple of dozen Bay ... The Economic Benefits of Secrecy
President Obama, the Consumer Financial Protection Agency, and Consumer Choice
My colleague Todd Zywicki and I have a piece out in Lombard Street today on the proposed new Consumer Financial Protection Agency. The issue has a number of contributions from proponents and critics of the new agency. The piece is well timed, with President Obama making the case for the CFPA in his Wall Street ... President Obama, the Consumer Financial Protection Agency, and Consumer Choice
Economic Illiteracy of the Week
Comes by way of US Trade Representative Ron Kirk defending the protectionist White House move to impose a 35% tariff on imported Chinese tires as … wait for it … well, just read for yourself: The three-year remedies, consisting of an additional tariff of 35 percent ad valorem in the first year, 30 percent ad ... Economic Illiteracy of the Week
Onion: Apple Works on Novel iPhone Lock-In Strategy
Rewarding loyal consumers with a product they can really believe in: “I am proud today to introduce to those who really, truly deserve it, our most incredible iPhone yet,” announced Apple CEO Steve Jobs, extending his seemingly empty left palm toward the eagerly awaiting crowd. “Not only is this our lightest and slimmest model ever, ... Onion: Apple Works on Novel iPhone Lock-In Strategy
Professor Werner Z. Hirsch (1920-2009)
I worked for Professor Hirsch as a graduate student working my way through the economics and law programs at UCLA. We wrote an article together on the law and economics of regulatory takings before the antitrust bug had taken hold of me. I’ve still got a draft somewhere, I think. I remember him as being ... Professor Werner Z. Hirsch (1920-2009)
