What Did Twombly Do Anyway?
Here is a very interesting empirical paper examining post-Twombly pleading from Martin Redish and Lee Epstein describing the state of affairs at the appellate court level, they write: To briefly summarize the state of the appellate doctrine on the issue: (1) two circuits (the D.C. and Federal Circuits) have concluded that Twombly has changed the ... What Did Twombly Do Anyway?
Commissioner Rosch v. Economics, Again
I’ve been critical of the Federal Trade Commission, and particularly Commissioner Rosch, for embracing what I think is a dangerously obsolete view of the role of economics in antitrust. First, it was the Section 2 Report response and before that, it was Commissioner Rosch’s observation that “any kind of economic analyses that require the use ... Commissioner Rosch v. Economics, Again
Armen Alchian Plays Prisoners' Dilemma
Many economists know of the famous repeated prisoners’ dilemma experiments played by famous economists. I recently came across this old post from Brad Delong with an excerpt from Poundstone (1992) which recounts a game between Armen Alchian (who should win the Nobel Prize this year) and Rand economist John Williams. It includes comments in the margins ... Armen Alchian Plays Prisoners' Dilemma
Hazlett on Net Neutrality and Antitrust
My colleague Tom Hazlett has an interesting piece in the Financial Times chiming in on the network neutrality debate. Hazlett makes the point that if “competitive harm” is the concern, isn’t antitrust the answer rather than regulation of this sort? Hazlett writes: But rather than enforce such [disclosure] rules, the FCC launched regulatory attack by ... Hazlett on Net Neutrality and Antitrust
Is This Finally the Year for a UCLA Economics Nobel?
Its a fall ritual here at TOTM. Every fall when the Nobel speculation starts I make a prediction, Geoff bets the field against my prediction, and I lose. But at least I’ve been consistent with my predictions and certainly in my rooting interests. In 2006, I made the case for awarding the prize to Armen ... Is This Finally the Year for a UCLA Economics Nobel?
Coate on Unilateral Effects at the FTC
FTC economist Malcolm Coate has posted Unilateral Effects Under the Guidelines: Models, Merits and Merger Policy to SSRN. Here’s the abstract: This paper models FTC unilateral effects merger policy using a broad sample of 153 investigations undertaken between 1993 and 2005. Standard unilateral effects analysis proposes a range of models for competitive effects. A review ... Coate on Unilateral Effects at the FTC
Antitrust and Health Care
Barak Richman (Duke) and James Blumstein (Vanderbilt) have an interesting exchange at PENNumbra, University of Pennsylvania School of Law’s online forum for debate surrounding scholarship in the U. Penn. L. Rev. Here’s the abstract from Professor Richman’s article: Courts reviewing proposed mergers of nonprofit hospitals have too often abandoned the bedrock principles of antitrust law, ... Antitrust and Health Care
Who Is Going to Jail For All of This?
David Zaring cuts to the chase.
The Price of Gas in Antlers, OK
From the DOJ: A federal grand jury in Oklahoma returned a one-count indictment today charging Kwik-Chek Food Stores Inc., a Texas-based convenience store company, and one of its agents, Jarrod “Judd” Thomas, with conspiring to fix the price of retail gasoline and diesel fuel sold in Antlers, Okla. The indictment, filed today in the U.S. ... The Price of Gas in Antlers, OK
Cartel Enforcement and the Election
From an excellent short article by Dan McInnis (Akin Gump) on the potential impact of the election on cartel policy in Global Competition Policy: Antitrust policy has played little role in the election. Indeed, at least for cartel policy, there may be little to differentiate the candidates. Given that both U.S. political parties as well ... Cartel Enforcement and the Election
Questions on the Bailout
From Peter Klein: Over and over during the last week we’ve been told that unless Congress, the Treasury, and the Fed “take”bold action,” credit markets will freeze, equity values will plummet, small businesses and homeowners will be wiped out, and, ultimately, the entire economy will crash. Such pronouncements are issued boldly, with a sort of ... Questions on the Bailout
The Costs of International Antitrust Enforcement and Superficial Convergence
There is an interesting profile on Intel in the WSJ. While the profile focuses on some of the technological and competitive challenges facing Intel and CEO Paul Otellini, the CEO mentions the proliferation of antitrust laws across the globe, and the uncertainty associated with regulatory costs in such an environment, as one of the major potential impediments facing ... The Costs of International Antitrust Enforcement and Superficial Convergence
