Antitrust Karma, the Microsoft-Google Wars, and a Question for Rick Rule
The WSJ recently published the next installment of the Microsoft-Google antitrust wars. A Google representative argues “competition is one click away”; Charles (“Rick”) Rule, Microsoft’s antitrust attorney, argues that Google’s conduct might harm competition. Rule’s main point is summed up in the first line of his piece: “what goes around comes around.” The longer version ... Antitrust Karma, the Microsoft-Google Wars, and a Question for Rick Rule
Comments Policy
A reminder regarding our comments policy in light of the language and tone of a handful of comments to Todd’s post: We welcome comments. We do not intend to moderate them but may delete those that are profane, mean spirited, racist, sexist, or otherwise inappropriate. Sometimes, and especially on the weekend (and even more so ... Comments Policy
Which CFPB Will We Get?
Todd mentions Elizabeth Warren’s “kick off” speech for the CFPB, in which she accepts the new “President and Special Advisor to the Secretary of the Treasury?” gig, and tells us what the new Bureau is all about: The new consumer bureau is based on a pretty simple idea: people ought to be able to read ... Which CFPB Will We Get?
Some Links
The myth of razors and blades by Randy Picker (HT: Peter Klein) David Balto Against Regulating Google A new antitrust lawsuit against Wal-Mart claiming it forces the prices for agricultural goods too low Is another antitrust suit against the NFL (this time by the players) brewing? More on the Microsoft-Google Antitrust Wars
Me Too @ Cato’s Constitution Day
Like Larry, I’ll be at Cato on Constitution Day. TOTM will be well represented. While Larry covers Jones v. Harris and mutual funds, I’ll have my sights on the Roberts Court’s recent decision in American Needle v. NFL. See you there! The abstract of my paper (co-authored with Judd Stone), Antitrust Formalism is Dead! Long ... Me Too @ Cato’s Constitution Day
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
FTC v. Ovation Opinion
The opinion in Ovation (i.e. FTC v. Lundbeck) is now available. Commentary to follow. UPDATE: The first footnote in Judge Ericksen’s opinion notes that “the FTC and Minnesota began their closing argument by disclaiming the notion that these cases were ‘about unhappiness about the high price of Indocin.’ Nevertheless, the FTC and Minnesota cited in ... FTC v. Ovation Opinion
Some Links
SCOTUS judge and law clerk selection as principal-agent / incomplete contracting problem (Orin Kerr) How to read an academic article (Peter Klein), though what seems missing are decision-rules for when articles should be “rejected” for a full-read after skimming The Washington Post reports that antitrust at the Varney DOJ isn’t much different than antitrust under ... Some Links
The Costs of Product Placement, Maserati Edition
In my academic research, I’ve studied contractual arrangements between manufacturers and retailers for premium shelf space, including slotting arrangements and category management contracts. Typically, a shelf space arrangement in the retail sector will involve the supplier compensating the retailer for some specified promotional shelving arrangement, e.g. end-caps or eye level space, or a share of ... The Costs of Product Placement, Maserati Edition
Allen on Alchian and the UCLA School
At Econ Journal Watch. Professor Allen offers a wonderful personal history of the UCLA Economics Department, including the rise and fall of what he describes as “the Alchian Department.” The entire article is worth reading, but I include here an excerpt from Professor Allen’s Nobel (and University Award) nomination on behalf of Armen: Economics is ... Allen on Alchian and the UCLA School
Attention Economists and Grad Students: Thought About Law School?
I have recently joined my colleague Bruce Johnsen as a co director of the Robert A. Levy Fellowship in Law and Liberty at GMU Law. It is a very generous fellowship for economists who have their PhD’s or “ABD” status to come to law school on our dime along with a stipend of roughly $27,000 ... Attention Economists and Grad Students: Thought About Law School?
The FTC Loses in Ovation Pharmaceuticals
There are some new developments in the Federal Trade Commission’s consummated merger case brought against Ovation. Namely, the FTC has lost. TOTM readers may recall that I spent some time criticizing the Federal Trade Commission’s complaint, back in 2008, in FTC v. Ovation in federal district court in Minnesota. As I described the stylized facts ... The FTC Loses in Ovation Pharmaceuticals
