How Competitive Is the Health Insurance Market, Really?
Not very, according to the President in his recent health care speech, making the case that lack of competition and for-profit monopolists are what ails the health care market: “Consumers do better when there is choice and competition. Unfortunately, in 34 states, 75% of the insurance market is controlled by five or fewer companies. In ... How Competitive Is the Health Insurance Market, Really?
The Economic Benefits of Secrecy
The ABA Journal (HT: Steve Salop) has an interesting item suggesting that Jones Day’s policy of keeping compensation secret might be paying dividends in a tough economic climate: Jones Day’s secrecy surrounding compensation may be aiding its rapid expansion in the San Francisco Bay area. Jones Day has grown from a couple of dozen Bay ... The Economic Benefits of Secrecy
President Obama, the Consumer Financial Protection Agency, and Consumer Choice
My colleague Todd Zywicki and I have a piece out in Lombard Street today on the proposed new Consumer Financial Protection Agency. The issue has a number of contributions from proponents and critics of the new agency. The piece is well timed, with President Obama making the case for the CFPA in his Wall Street ... President Obama, the Consumer Financial Protection Agency, and Consumer Choice
Economic Illiteracy of the Week
Comes by way of US Trade Representative Ron Kirk defending the protectionist White House move to impose a 35% tariff on imported Chinese tires as … wait for it … well, just read for yourself: The three-year remedies, consisting of an additional tariff of 35 percent ad valorem in the first year, 30 percent ad ... Economic Illiteracy of the Week
Onion: Apple Works on Novel iPhone Lock-In Strategy
Rewarding loyal consumers with a product they can really believe in: “I am proud today to introduce to those who really, truly deserve it, our most incredible iPhone yet,” announced Apple CEO Steve Jobs, extending his seemingly empty left palm toward the eagerly awaiting crowd. “Not only is this our lightest and slimmest model ever, ... Onion: Apple Works on Novel iPhone Lock-In Strategy
Professor Werner Z. Hirsch (1920-2009)
I worked for Professor Hirsch as a graduate student working my way through the economics and law programs at UCLA. We wrote an article together on the law and economics of regulatory takings before the antitrust bug had taken hold of me. I’ve still got a draft somewhere, I think. I remember him as being ... Professor Werner Z. Hirsch (1920-2009)
Zingales on Capitalism After the Crisis
A very, very good essay. The whole thing is very much worth reading. I suspect the concluding three paragraphs will get the most attention: We thus stand at a crossroads for American capitalism. One path would channel popular rage into political support for some genuinely pro-market reforms, even if they do not serve the interests ... Zingales on Capitalism After the Crisis
Shouldn't I Just Be Happy My Name is Spelled Correctly?
I’m not generally a big fan of blogging to complain about law reviews or the way that my work has been interpreted by others. I’m generally of the view that the risk of having my work misinterpreted within a reasonable range is my own to bear, and that if it happens, it’s probably due to ... Shouldn't I Just Be Happy My Name is Spelled Correctly?
Zywicki on the Consumer Financial Protection Agency on Reason TV
Available here.
Antitrust, Multi-Dimensional Competition, and Innovation: Do We Have an Antitrust-Relevant Theory of Competition Now?
My essay on economics, innovation, and antitrust, forthcoming in Manne & Wright’s forthcoming volume on Regulating Innovation: Competition Policy and Patent Law Under Certainty (introductory chapter available here), is now available on SSRN. The essay is a revisiting of a fundamental challenge Harold Demsetz offered to antitrust decades ago that I believe has gone, from ... Antitrust, Multi-Dimensional Competition, and Innovation: Do We Have an Antitrust-Relevant Theory of Competition Now?
Kobayashi and Wright on Antitrust Aspects of Intellectual Property and Standard Setting
[REPOSTED BECAUSE SSRN LINK INACTIVE EARLIER, CHAPTER IS NOW AVAILABLE FOR DOWNLOAD] Bruce Kobayashi and I have posted our forthcoming chapter, Intellectual Property and Standard Setting, in the forthcoming ABA Antitrust Section Handbook on the Antitrust Aspects of Standard Setting. It offers an analytical overview of the antitrust issues involving intellectual property and standard setting ... Kobayashi and Wright on Antitrust Aspects of Intellectual Property and Standard Setting
Pioneers of Law and Economics — Available Now
Pioneers of Law and Economics, a volume I edited alongside my colleague Lloyd Cohen, is now available at the Elgar Website. I’m very happy with how the book came out in large part because of the fantastic group of contributors who agreed to take on chapters, including: Harold Demsetz, Nuno Garoupa and Fernando Gomez-Pomar, Mark ... Pioneers of Law and Economics — Available Now
