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The collection of all scholarly commentary on law, economics, and more

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Supporting my Mizzou Students

Unless you live under a rock, you know that the president and chancellor of the University of Missouri, where I teach law, have resigned in response to protests over their failure to respond to several (three identified) racist incidents on campus. A group called Concerned Student 1950 staged a series of protests and demanded, among other things, ... Supporting my Mizzou Students

Truth on the Market welcomes our newest blogger, Joanna Shepherd

Truth on the Market is delighted to welcome our newest blogger, Joanna Shepherd. Joanna is a Professor of Law at Emory School of Law and holds an adjunct position in the Emory Economics Department (where she also earned her PhD). At the law school she teaches Torts, Law and Economics, Analytical Methods for Lawyers, and ... Truth on the Market welcomes our newest blogger, Joanna Shepherd

FRAND Rules to Incentivize Innovation in Collective Standard Setting: What Golf Tournaments Can Teach Us

One baleful aspect of U.S. antitrust enforcers’ current (and misguided) focus on the unilateral exercise of patent rights is an attack on the ability of standard essential patent (SEP) holders to obtain a return that incentivizes them to participate in collective standard setting.  (This philosophy is manifested, for example, in a relatively recent U.S. Justice ... FRAND Rules to Incentivize Innovation in Collective Standard Setting: What Golf Tournaments Can Teach Us

Time for Congress to Consider Establishing a “SMARTER” Antitrust Merger Review Framework

On October 7, 2015, the Senate Judiciary Committee held a hearing on the “Standard Merger and Acquisition Reviews Through Equal Rules” (SMARTER) Act of 2015.  As former Antitrust Modernization Commission Chair (and former Acting Assistant Attorney General for Antitrust) Deborah Garza explained in her testimony, “t]he premise of the SMARTER Act is simple:  A merger ... Time for Congress to Consider Establishing a “SMARTER” Antitrust Merger Review Framework

The competitive implications of the Affordable Care Act for health insurance merger review

Last week concluded round 3 of Congressional hearings on mergers in the healthcare provider and health insurance markets. Much like the previous rounds, the hearing saw predictable representatives, of predictable constituencies, saying predictable things. The pattern is pretty clear: The American Hospital Association (AHA) makes the case that mergers in the provider market are good ... The competitive implications of the Affordable Care Act for health insurance merger review

The FCC distorted market realities to scuttle the Comcast-TWC merger

Last week, FCC General Counsel Jonathan Sallet pulled back the curtain on the FCC staff’s analysis behind its decision to block Comcast’s acquisition of Time Warner Cable. As the FCC staff sets out on its reported Rainbow Tour to reassure regulated companies that it’s not “hostile to the industries it regulates,” Sallet’s remarks suggest it will ... The FCC distorted market realities to scuttle the Comcast-TWC merger

A Takedown of Common Sense: The 9th Circuit Overturns the Supreme Court in a Transparent Effort to Gut the DMCA

The Ninth Circuit made waves recently with its decision in Lenz v. Universal Music Corp., in which it decided that a plaintiff in a copyright infringement case must first take potential fair use considerations into account before filing a takedown notice under the DMCA. Lenz, represented by the EFF, claimed that Universal had not formed ... A Takedown of Common Sense: The 9th Circuit Overturns the Supreme Court in a Transparent Effort to Gut the DMCA

Competition Among Competition Regimes: Recent Developments in Europe and Welfare Implications

A basic premise of antitrust law (also called competition law) is that competition among private entities enhances economic welfare by reducing costs, increasing efficiency, and spurring innovation.  Government competition agencies around the world also compete, by devising different substantive and procedural rules to constrain private conduct in the name of promoting competition.  The welfare implications ... Competition Among Competition Regimes: Recent Developments in Europe and Welfare Implications

Wyndham Decision Highlights FTC Role in Cybersecurity: Legal and Policy Considerations

On August 24, the Third Circuit issued its much anticipated decision in FTC v. Wyndham Worldwide Corp., holding that the U.S. Federal Trade Commission (FTC) has authority to challenge cybersecurity practices under its statutory “unfairness” authority.  This case brings into focus both legal questions regarding the scope of the FTC’s cybersecurity authority and policy questions ... Wyndham Decision Highlights FTC Role in Cybersecurity: Legal and Policy Considerations

Suprema v. ITC: The Case for Chevron Deference

Recently, the en banc Federal Circuit decided in Suprema, Inc. v. ITC that the International Trade Commission could properly prevent the importation of articles that infringe under an indirect liability theory. The core of the dispute in Suprema was whether § 337 of the Tariff Act’s prohibition against “importing articles that . . . infringe ... Suprema v. ITC: The Case for Chevron Deference

The essence of Josh Wright’s FTC tenure was to ensure that benefits outweigh costs; the rest is commentary

As the organizer of this retrospective on Josh Wright’s tenure as FTC Commissioner, I have the (self-conferred) honor of closing out the symposium. When Josh was confirmed I wrote that: The FTC will benefit enormously from Josh’s expertise and his error cost approach to antitrust and consumer protection law will be a tremendous asset to ... The essence of Josh Wright’s FTC tenure was to ensure that benefits outweigh costs; the rest is commentary

Commissioner Joshua Wright: Colleague, Gentleman, Scholar, Public Servant

I join all the others in congratulating Professor Wright on his accomplishments at the FTC. As both an academic and government official myself, I’ve long benefited from Dr. Wright’s work in academia and in government. I’ve also greatly enjoyed a ring-side view of the his upbeat and thoughtful manner for constructively engaging the diverse perspectives ... Commissioner Joshua Wright: Colleague, Gentleman, Scholar, Public Servant