Showing results for: “digital markets act”
Are You Plane Rich? An Example of Marginal Analysis
I just returned from a long weekend in the Caribbean, attempting to recreate the scenery of (and a few scenes from) The Bachelor. Given the ubiquity of Wi-Fi coverage, I was able to stay connected with my favorite newspapers and magazines: iPhone in one hand, Mojito in the other. Just as I was feeling like ... Are You Plane Rich? An Example of Marginal Analysis
Never Mistake Activity for Achievement, Antitrust Edition
FTC Chairman Leibowitz recently gave a speech in which he took on a number of issues, but one in particular caught my eye. In a portion of the speech describing how antitrust has updated its procedures in order to become more efficient and avoid the problem of having decade-long cases focused upon technologies that are ... Never Mistake Activity for Achievement, Antitrust Edition
Kahneman’s Time Interview Fails to Allay Concerns About Behavioral Law and Economics
TOTM alumnus Todd Henderson recently pointed me to a short, ten-question interview Time Magazine conducted with Nobel prize-winning economist Daniel Kahneman. Prof. Kahneman is a founding father of behavioral economics, which rejects the rational choice model of human behavior (i.e., humans are rational self-interest maximizers) in favor of a more complicated model that incorporates a number ... Kahneman’s Time Interview Fails to Allay Concerns About Behavioral Law and Economics
In re Pool Corporation: Yet Another Peculiar and Peverse Section 5 Consent from the FTC
TOTM readers know that I’ve long been skeptical of claims that expansive use of Section 5 of the FTC Act will prove productive for consumers. I’ve been critical of recent applications of Section 5 such as Intel and N-Data. Now comes yet another FTC consent decree in PoolCorp. I’m still skeptical. Indeed, PoolCorp appears to ... In re Pool Corporation: Yet Another Peculiar and Peverse Section 5 Consent from the FTC
Law professors, amicus briefs and blogging
Richard Fallon thinks that when law professors try to influence public debate, as when they sign amicus briefs, they should know what they’re talking about. Here’s the abstract: With ever mounting frequency, law professors flood the courts with “scholars’ briefs,” in which they advise judges and Supreme Court Justices on how to resolve disputed issues ... Law professors, amicus briefs and blogging
The Washington Post columnists on the Supercommittee
My apologies to TOTM readers for taking last week off. A firm retreat in Phoenix followed by a hearing in Oklahoma City really puts a crimp on one’s fun time. In the meantime, the BCS announced that it is considering eliminating the automatic-qualification offers to BCS conference champions. The ACC and Big East must not ... The Washington Post columnists on the Supercommittee
How Much Search Bias Is There?
My last two posts on search bias (here and here) have analyzed and critiqued Edelman & Lockwood’s small study on search bias. This post extends this same methodology and analysis to a random sample of 1,000 Google queries (released by AOL in 2006), to develop a more comprehensive understanding of own-content bias. As I’ve stressed, ... How Much Search Bias Is There?
The value of law school
Herwig Schlunk updates his analysis of the investment value of a law degree. Here’s the abstract: There continues to be an active debate on the question of whether or not law school is a good investment. I prefer to think of the question not in terms of “whether,” but in terms of “when.” In this ... The value of law school
Some thoughts on in-house lawyers
Those attending the Wisconsin in-house counsel conference this weekend (kudos to Jonathan Lipson for a well-organized and comprehensive program) got a great overview of the problems and opportunities facing the lawyers who work inside corporations. Here’s some brief observations. As previously reported, my own contribution focused on how technology might significantly affect in-house lawyers’ work, ... Some thoughts on in-house lawyers
The NYT on law teaching
The NYT brings another David Segal story on legal education. Today’s sermon: law schools don’t teach “lawyering.” Boiling away the overheated journalism, here’s the indictment: Law profs are richly paid for writing mostly useless law review articles rather than “the essential how-tos of daily practice.” Students study cases about contract law but not contracts. Clinics ... The NYT on law teaching
Holdup Problem, Airline Edition
Economists are all quite familiar with the “holdup problem,” i.e. one contracting partner exploiting the other after asset specific investments have been made. One classic law school textbook example is Alaska Packers v. Domenico in which the Alaska Packers’ Association hired Domenico for the salmon season for $50 plus 2 cents per salmon caught, but ... Holdup Problem, Airline Edition
Mason LEC Programs for Economics & Law Professors
The George Mason LEC has reinstituted the Economics Institute for Law Professors and the Law Institute for Economics Professors. I will be attending as faculty for the Economic Institute for Law Professors, where I will teach various aspects of microeconomic theory along with Michael Baye. The agenda for that program is available here. If you’ve ... Mason LEC Programs for Economics & Law Professors
