The Archives

Everything written by Geoffrey A. Manne on law, economics, and more

ALEA happy hour

Dear friends of TOTM: If you’re going to be attending the American Law and Economics Association annual meeting, or if you’ll be otherwise in the neighborhood (Berkeley, that is) on May 5 and 6, there are two must-attend events over the action-packed weekend. The first is the inaugural TOTM happy hour. Join us (Josh and ... ALEA happy hour

Manne & Williamson get results from the FTC and DOJ!

My co-author, Marc Williamson, just alterted me to this section in the recently-published FTC/DOJ Merger Guidelines Commentary (.pdf): Industry Usage of the Word “Market� Is Not Controlling Relevant market definition is, in the antitrust context, a technical exercise involving analysis of customer substitution in response to price increases; the “markets� resulting from this definition process ... Manne & Williamson get results from the FTC and DOJ!

Leaving legal academia

This post has two related aspects to it, a personal and a general. First the personal: Beginning this summer I will be working for Microsoft — for the time being, anyway, on leave from Lewis & Clark Law School. My official title will be Academic Relations Manager in the legal and government affairs department (the ... Leaving legal academia

Tenure and the Law Deans

While we’re talking about the ABA . . . Brian Leiter asks whether the American Law Deans’ Association is opposed to tenure. The question is spurred by the ALDA’s comment (.doc) filed with the DOE on the ABA’s application for reaffirmation as a recognized accrediting body. Leiter cites to a blog post (which links to ... Tenure and the Law Deans

Come on Feel the Illinoise

Has everyone noticed that Illinois has been quietly amassing one of the most interesting law & economics/corporations faculties in the country? This year they hired Andrew Morriss, Christine Hurt, Amitai Aviram and Bob Lawless. They’ve already got: Lee Fennell Tom Ginbsburg David Hyman Richard McAdams Richard Painter Larry Ribstein Tom Ulen Cynthia Williams and probably ... Come on Feel the Illinoise

I look pretty young but I'm just backdated, yeah

The WSJ this weekend has a long piece on the issue of stock option backdating, “The Perfect Payday.” Here’s the tagline: Some CEOs reap millions by landing stock options when they are most valuable. Luck–or something else? It’s an interesting article, much of which is devoted to debunking the assertion that backdating of options grants ... I look pretty young but I'm just backdated, yeah

More on universities

My post on universities/Zittrain/Harvard generated an excellent comment from Mike Madison. Here is my comment to Mike’s post: I suppose at the end of the day and over a few glasses of scotch I would largely agree with your characterization of my position. I do believe that norms exist and can be beneficial, and that ... More on universities

Call for Papers: AALS Section on Securities Regulation

AALS SECTION ON SECURITIES REGULATION CALL FOR PAPERS FOR JANUARY 2007 ANNUAL MEETING The AALS Section on Securities Regulation will hold its seventh meeting during the AALS Annual Meeting in San Francisco, California from January 3-6, 2007. (The Section meeting is tentatively scheduled for Saturday, January 6, 2007). The Executive Committee invites submissions of abstracts ... Call for Papers: AALS Section on Securities Regulation

On disclosure: Shame?

Daniel Akst in the NYT has an interesting piece on executive compensation and disclosure (HT: Tyler Cowen). He calls for more shame — more reliance on norms to manage intractable agency problems: Although more disclosure and pay-for-performance requirements won’t dampen runaway C.E.O. compensation, both are useful for illustrating a larger lesson: that it’s naïve to ... On disclosure: Shame?

Universities redux: The anti-market folks begin to crow

Last week I made a few observations and asked a few questions about higher education in the wake of the Summers fiasco (which I dubbed l’Affair Étés, but apparently no one thought that was nearly as clever as I did). Over at Prawfsblawg, guest blogger Jonathan Zittrain takes NYT columnist John Tierney (for my money, ... Universities redux: The anti-market folks begin to crow

Hanno Kaiser's antitrust primer

While we’re on the topic of antitrust, I thought I would take this opportunity to draw our readers’ attention to a nice series of posts over at Antitrust Review. Collectively these posts make up the beginnings of an excellent primer on antitrust economics, told in Hanno Kaiser’s inimitable manner. I don’t agree with all of ... Hanno Kaiser's antitrust primer

Good antitrust news from the Court

To almost no one’s surprise, the Court ruled today (unanimously) in Texaco v Dagher that a pricing agreement between Shell and Texaco which was part of a lawful joint venure is not per se illegal under the Sherman Act. See this Reuter’s story here (HT: Bill). The key grafs: Justice Clarence Thomas concluded in the ... Good antitrust news from the Court