Interchange Legislation as Counterproductive Consumer Protection Regulation
I want to begin with the premise that the legislation pending in Congress, in whatever form is ultimately adopted, will be successful in reducing interchange fees before turning to the question of whether such a reduction can be justified. Proponents of interchange fee legislation offer two basic defenses of the legislation. The first is as a ... Interchange Legislation as Counterproductive Consumer Protection Regulation
A Sarbox Update
From Larry Ribstein: A few years later, Henry Butler and I wrote a book decrying SOX, and discussing the evidence that was accumulating against it, as well as the SOX suit. Here’s an excerpt from the book abstract: If the suit is successful, Congress likely will have an opportunity to repair the constitutional defect. Although ... A Sarbox Update
I Do Not Think Those Words Mean What You Think They Mean
Here’s Henry Waxman on the federal government saving the newspapers from failing: “The newspapers my generation has taken for granted are facing a structural threat to the business model that has sustained them,” said Representative Henry Waxman, a Democrat from California. The loss of revenue has spurred a vicious cycle with thousands of journalists losing ... I Do Not Think Those Words Mean What You Think They Mean
Underappreciated Economists: UCLA Edition
I’m late to the “name your favorite underappeciated economist game” that was kicked off in light of John Cassidy’s Pigou column. The Marginal Revolution crew points to Malthus and Fisher (Cowen and Tabarrok, respectively). My first instinct is to go with Armen Alchian. Though Armen has always been much appreciated on this blog. So I’m ... Underappreciated Economists: UCLA Edition
Institute for Humane Studies Fellowships
Details here: Deadline: December 31Scholarships up to $12,000 for undergraduate or graduate study in the United States or abroad. Humane Studies Fellowships are awarded by the Institute for Humane Studies (IHS) to students interested in exploring the principles, practices, and institutions necessary for a free society through their academic work. IHS began the program in ... Institute for Humane Studies Fellowships
New EU Antitrust Chief: Joaquin Almunia
Joaquin Almunia, described by the WSJ story as a Spanish socialist. Almunia’s current charge has been to help craft the EU’s response to the financial crisis: In his current job, Mr. Almunia, 61 years old, has been in the thick of the EU’s response to the financial crisis, though the economic-affairs post has little regulatory ... New EU Antitrust Chief: Joaquin Almunia
Haiku Economics
Here. And Haiku as a teaching tool. Happy Thanksgiving.
ELS, CELS and Bubbles in Legal Scholarship
Some interesting thoughts from David Zaring and Larry Ribstein on the future of the empirical legal studies movement and its flagship conference, CELS. Zaring asks whether there is enough glue holding the various constituencies within the ELS movement together. Ribstein warns of an empirical bubble and argues that the real need for an umbrella organization ... ELS, CELS and Bubbles in Legal Scholarship
Antitrust News
The latest on the insurance industry antitrust exemption (still there, so far) The EU targets Standard & Poor’s The Bowl Championship Series hires Ari Fleischer Documenting the uptick in antitrust enforcement in the high-tech sector An interesting IP/antitrust case to watch
Watch CELS on the Web
If you cannot attend this year’s excellent looking (program here) Conference on Empirical Legal Studies, which is at USC Friday and Saturday, you can watch the webcast of the panels here. This is a pretty nifty addition to the conference and one that I appreciate as I’ll be missing it this year. Unfortunately, not much ... Watch CELS on the Web
New Federal Trade Commission Nominees Julie Brill and Edith Ramirez
The President has announced his intention to nominate two new Federal Trade Commissioners: Julie Brill and Edith Ramirez. Brill comes from a State AG background (Vermont and most recently North Carolina). Ramirez was a partner at Quinn Emanuel whose bio suggests significant experience in litigating intellectual property and other commercial contract disputes.
Gelbach, Helland and Klick on Single Firm, Single Event Studies
Larry Ribstein points to the new paper from Gelbach, Helland and Klick on Valid Inference in Single Firm, Single Event Studies. This is an important paper with implications for finance, securities litigation and antitrust where event studies are frequently used as economic expert evidence. Ribstein gives a good, non-technical explanation of its contribution: Essentially what’s ... Gelbach, Helland and Klick on Single Firm, Single Event Studies
