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Pioneers in Law and Economics Preview
My colleague Lloyd Cohen and I are editing a volume for Edward Elgar on Pioneers in Law and Economics. We’ve collected a dozen or so top notch essays from leading law and economics scholars covering the pioneers in the discipline and their contributions. I’ll have more details to post about this project in a month ... Pioneers in Law and Economics Preview
Law Review Submission Season Is Almost Upon Us. Maybe.
Tis the spring law review submission season (almost, depending on your view)! This is the time of year where many members of law school faculties wrap up their law review draft articles and begin submitting them to various journals for consideration for publication. Tomorrow Tulane is having a faculty roundtable on law review publishing, at ... Law Review Submission Season Is Almost Upon Us. Maybe.
Feingold-Kyl Update
A few months ago I commented on the absurdity of the Feingold-Kyl amendment to the judicial pay raise bill, which appeared to be a thinly veiled attempt to target the George Mason Law and Economics Center and a few others. The absurdity with which I was particularly interested at the time was the fact that ... Feingold-Kyl Update
Microsoft Bids for Yahoo – Yahoo’s Board Will Respond
Microsoft has made a bid for Yahoo, and the Yahoo board of directors is anticipated to use the Nancy Reagan “Just Say No†defense. I feel like I’m back in the 1980s merger boom. Several thoughts: 1. Rumor has it we are in a recession. It is likely then that Yahoo stock is currently trading at ... Microsoft Bids for Yahoo – Yahoo’s Board Will Respond
An Interesting Theory on Microsoft-Yahoo
The Economist (HT: 26econ.com) sketches out an interesting theory on the proposed Microsoft-Yahoo merger: The only grounds on which a trustbuster could plausibly oppose Microsoft buying Yahoo!—that it is possible to exercise monopoly power in online search and advertising—surely apply even more strongly to Google. Indeed, some antitrust experts are surprised that Google has not ... An Interesting Theory on Microsoft-Yahoo
FTC Unilateral Effects Workshop
The FTC recently released its agenda for its upcoming public workshop on February 12 on “Unilateral Effects Analysis in Litigation.” The announcement motivates the conference as follows: Among economists, unilateral effects is a widely accepted theory of competitive harm. Yet, the federal antitrust agencies have experienced limited success litigating differentiated product cases in district courts ... FTC Unilateral Effects Workshop
Antitrust Limits on Merger Decision Markets?
At Overcoming Bias, Robin Hanson points to the absence of decision markets evaluating competitive conditions in the post-merger world as evidence that “these companies are just not serious about finding the highest value applications of prediction markets.” Here’s a description of the markets that Robin has in mind: Decision markets could say whether this merger ... Antitrust Limits on Merger Decision Markets?
Is Britney the QWERTY Keyboard of Pop Culture?
I thought I would be safe in church. I thought I could avoid her there. But no, the minister had to mention Britney Spears during the sermon Sunday morning. I think the reference had something to do with keeping perspective and the ridiculousness of a motorcade escort to UCLA medical center. I’m not really sure. ... Is Britney the QWERTY Keyboard of Pop Culture?
Free to Choose (and Market) Clone-Free
The FDA has determined that milk and meat from some cloned animals (cattle, swine, and goats) is safe to eat. It has therefore lifted a moratorium on such products. But don’t expect to see milk and meat from cloned animals in your local grocery store. Cloning is incredibly expensive, so cloned animals would almost certainly ... Free to Choose (and Market) Clone-Free
Amateurism Is What We Do!
Yesterday, the NCAA settled a horizontal price fixing class action case initiated by former basketball and football players (here, here, and here). It’s nice to see the student-athletes get something, but I wish they would have received more. The suit deals with the difference between the NCAA’s grant-in-aid (GIA) cap and the full cost of ... Amateurism Is What We Do!
ABA Antitrust Law Fellowship Award
The ABA has announced a Fellowship Award for $5,000 and travel expenses for unpaid summer employment “within approved government agencies (federal, state, or international) dedicated to the enforcement of antitrust laws, or other institutions whose primary mission is to advance the study of antitrust and competition law.” The application packet is availabe here, and lists ... ABA Antitrust Law Fellowship Award
Antitrust (Over-?)Confidence
Thom was recently invited to draft a critical response to a symposium at the Institute for Consumer Antitrust Studies on the future of single firm conduct. The transcript from the Roundtable Discussion is available on SSRN. Thom graciously asked me to join him in drafting a short critical piece to the symposium. It is difficult ... Antitrust (Over-?)Confidence
