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Teaching Antitrust

I’m two weeks into the semester here at UT, and the antitrust course.  I’ve made a few changes to the course this year.  Specifically, I’m using the new 2nd edition of the Gavil, Kovacic and Baker.  So far so good on that front on adjusting to the new edition.  Its an excellent textbook.  In large ... Teaching Antitrust

Top Ten Antitrust Articles of 2008

Its the time for end of the year lists. In conjunction with Danny Sokol’s survey of nominations for article of the year in 2008 (here are last year’s entries and here’s my list of the top 10 from last year), and without further ado, here are my personal, idiosyncratic, completely non-scientifically derived top 10 antitrust ... Top Ten Antitrust Articles of 2008

Is it just me, or is Brad DeLong little more than an ideological hack? Krugman, too.

Hey, what a shock: Brad DeLong cites to a cursory and useless critique of the Efficient Market Hypothesis and declares it, with the author,  “refuted.”  Here’s Brad’s cite; here’s the original “refutation.”  The complete list is absurd (there are five purportedly refuted doctrines, including “the case for privatization” and “individual retirement accounts.” Seriously? Yep.). Perhaps ... Is it just me, or is Brad DeLong little more than an ideological hack? Krugman, too.

Free Trade Petition

Atlas Economic Research Foundation is circulating a petition in favor of free trade (HT Sasha Volokh).  The plan is to unveil the petition before the April 1 G20 meetings in London.  Here is the text of the petition.  You can sign it here if you are interested. Free Trade Is the Best Policy The specter ... Free Trade Petition

The Microsoft-Google Antitrust Wars and Public Choice: There is Too An Argument Against Rival Involvement in Antitrust Enforcement

How should an economist interpret the fact that Microsoft appears to be “behind” recent enforcement actions against Google in the United States and, especially, in Europe? “With skepticism!”  Is the answer I suspect many readers will offer upon first glance.  There is a long public choice literature, and long history in antitrust itself, that suggests ... The Microsoft-Google Antitrust Wars and Public Choice: There is Too An Argument Against Rival Involvement in Antitrust Enforcement

Judd Stone on Misbehavioral Economics: The Misguided Imposition of Behavioral Economics on Antitrust

Behavioral law and economics has arisen to international prominence; between Cass Sunstein’s appointment to head the Office of Information and Regulatory Affairs the United Kingdom’s appointment of a “nudge” bureau, behavioralism has enjoyed a meteoric impact on policymakers.  Thus far, behavioral economists have almost exclusively focused on the myriad foibles or purported cognitive errors which ... Judd Stone on Misbehavioral Economics: The Misguided Imposition of Behavioral Economics on Antitrust

Unleashing Prosperity through Smarter Financial Regulation

On February 28, the Heritage Foundation issued a volume of essays by leading scholars on the law and economics of financial services regulatory reform entitled Prosperity Unleashed:  Smarter Financial Regulation.  This Report, which is well worth a read (in particular, by incoming Trump Administration officials and Members of Congress), is available online. The Report’s 23 ... Unleashing Prosperity through Smarter Financial Regulation

California Dreamin’: California Public Utility Commission must resist extreme regulatory overreach in the recently proposed conditions in Comcast-TWC merger

On February 13 an administrative law judge (ALJ) at the California Public Utility Commission (CPUC) issued a proposed decision regarding the Comcast/Time Warner Cable (TWC) merger. The proposed decision recommends that the CPUC approve the merger with conditions. It’s laudable that the ALJ acknowledges at least some of the competitive merits of the proposed deal. ... California Dreamin’: California Public Utility Commission must resist extreme regulatory overreach in the recently proposed conditions in Comcast-TWC merger

Why the New Evidence on Minimum RPM Doesn’t Justify a Per Se or Quick Look Approach

Mike Sykuta and I recently co-authored a short article discussing the latest evidence on, and proper legal treatment of, minimum resale price maintenance (RPM). Following is a bit about the article (which is available here). Despite the U.S. Supreme Court’s Leegin decision holding that minimum RPM must be evaluated under antitrust’s Rule of Reason, the ... Why the New Evidence on Minimum RPM Doesn’t Justify a Per Se or Quick Look Approach

McWane: Structure Isn’t Enough

A particularly unsettling aspect of the FTC’s case against McWane is the complaint counsel’s heavy (and seemingly exclusive) reliance on structural factors to prove its case. The FTC has little or no direct evidence of price communications and no econometric evidence suggesting collusion, and has instead spent a good deal of time trying to show ... McWane: Structure Isn’t Enough

That startup investors’ letter on net neutrality is a revealing look at what the debate is really about

Last week a group of startup investors wrote a letter to protest what they assume FCC Chairman Tom Wheeler’s proposed, revised Open Internet NPRM will say. Bear in mind that an NPRM is a proposal, not a final rule, and its issuance starts a public comment period. Bear in mind, as well, that the proposal ... That startup investors’ letter on net neutrality is a revealing look at what the debate is really about

Need for Chinese Antitrust Reform (and IP and Price-Related Concerns) Spotlighted at ABA Beijing Conference

The American Bar Association’s (ABA) “Antitrust in Asia:  China” Conference, held in Beijing May 21-23 (with Chinese Government and academic support), cast a spotlight on the growing economic importance of China’s six-year old Anti-Monopoly Law (AML).  The Conference brought together 250 antitrust practitioners and government officials to discuss AML enforcement policy.  These included the leaders ... Need for Chinese Antitrust Reform (and IP and Price-Related Concerns) Spotlighted at ABA Beijing Conference