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Showing results for:  “digital markets act”

Justice Roberts Disses Economists

I’ve got nothing to add on the substantive merits of today’s big decision – but the following line got my attention: To an economist, perhaps, there is no difference between activity and inactivity; both have measurable economic effects on commerce. But the distinction between doing something and doing nothing would not have been lost on the ... Justice Roberts Disses Economists

Paul Krugman is a partisan hack

Occasionally I read Mr. Krugman’s column for entertainment purposes — sort of like watching Project Runway or Animals Gone Wild. This morning was one of those occasions. The man is a partisan hack of the worst sort. Why does anyone take his political observations seriously? Some thoughts about this morning’s column. 1. Krugman starts by ... Paul Krugman is a partisan hack

Daubert and Antitrust Economics, Or When Should An Antitrust Economist Have Training in Economics?

Judge Saris’s district court opinion denying the motion to exclude one of the plaintiff’s economic experts in  Natchitoches Parish Hospital v. Tyco International recently came across my desk.  It is an interesting case involving allegations that Covidien, a leading supplier of “sharps containers” used for the disposal of various needle-involving medical products (syringes, IVs, etc.) ... Daubert and Antitrust Economics, Or When Should An Antitrust Economist Have Training in Economics?

Drawing lines

One of the first things law students learn is that law is mostly about drawing lines between acceptable and unacceptable conduct. Some lines are easy to draw: murder is out; giving money to charitable causes is in. But even in these cases, there are definitional and moral puzzles at the boundaries. When is taking a ... Drawing lines

Credit Cards in Context: Framing the Discussion

While the GAO report provides a useful summary of many of the issues being debated within the credit card community, the GAO’s mandate was, in some ways, rather narrow.  The GAO was asked to “review (1) how the fees merchants pay have changed over time and the factors affecting the competitiveness of the credit card ... Credit Cards in Context: Framing the Discussion

Update on backdating

It’s been quite a while since we discussed backdating here at TOTM.  But back when it was all the rage, we were substantial contributors, formulating (we believe) some of the first fundamental explanations of the issues.  Some of the best posts from our backdating archive are here: I look pretty young but I’m just backdated, ... Update on backdating

Robert Rhee on Nationalization in a Time of Crisis

I have spent the better part of the year studying the consequences of government ownership in the private sector, see Treasury Inc.: How the Bailout Reshapes Corporate Theory and Practice.  I recently had the opportunity to read a new paper from Robert Rhee that examines the issue from a different point of view, Nationalization of ... Robert Rhee on Nationalization in a Time of Crisis

Surcharging and Honor-All-Cards

Generally, merchants charge the same price regardless of the type of payment instrument used to make purchases. In many jurisdictions, merchants are not allowed to add a surcharge for payment card transactions because of legal (some states in the U.S. do not allow surcharges) or contractual (card networks generally do not allow surcharges) restrictions. But, ... Surcharging and Honor-All-Cards

The Myth of Consumer Protection Through Disclosure

I will focus my blog post on one of the proposals for reducing interchange fees: the requirement that the fees be disclosed to consumers. I am not sure how seriously this option is taken by the GAO report. Indeed, the report concedes that mandated disclosures in this context are not very likely to be effective, ... The Myth of Consumer Protection Through Disclosure

The Merchants’ Insincere Concern About Cross-Consumer Subsidies

In my first post I argued that consumers as a group would likely be made worse off as a result of artificially imposed reductions in interchange fees.  This post considers a second line of attack—that even if consumers overall would be made no better off (or even worse off) as a result of regulating interchange ... The Merchants’ Insincere Concern About Cross-Consumer Subsidies

The Trespass Fallacy in Patent Law

Thank you to Josh for inviting me to guest blog on Truth on the Market.  As my first blog posting, I thought TOTM readers would enjoy reading about my latest paper that I posted to SSRN, which has been getting some attention in the blogosphere (see here and here).  It’s a short, 17-page essay — see, ... The Trespass Fallacy in Patent Law

Eric Goldman on the role and importance of Section 230 immunity

For those who follow these things (and for those who don’t but should!), Eric Goldman just posted an excellent short essay on Section 230 immunity and account terminations. Here’s the abstract: An online provider’s termination of a user’s online account can be a major-and potentially even life-changing-event for the user. Account termination exiles the user ... Eric Goldman on the role and importance of Section 230 immunity