Showing results for: “digital markets act”
Why do insiders trade illegally?
Not, as economic theory would predict, because they need the money, according to Bhattacharya and Marshall, Do They Do it for the Money? Here’s the abstract: Using a sample of all top management who were indicted for illegal insider trading in the United States for trades during the period 1989-2002, we explore the economic rationality ... Why do insiders trade illegally?
Crowdfunding
Should you have to do a costly SEC registration and work through a registered broker-dealer just to raise a little money for your start-up? Today’s WSJ covers so-called “crowd-funding.” It tells of a guy who raised $41,000 from 17 investors. The business has done well, but the website it used was ordered to stop doing ... Crowdfunding
Teeth-whitening and the law
Teeth whiteners are joining the struggle against regulation. Prior posts have covered licensing of witches, horse teeth floaters, cat groomers, tour guides, taxicabs and, of course, lawyers. Now the WSJ reports that [d]entists are battling with spas, tanning salons and other nondental peddlers of pearly whites from North Carolina to New Jersey and, now, Connecticut ... Teeth-whitening and the law
Privacy Again
Today’s Wall Street Journal has a long article-debate on privacy. The strongest pro-privacy is Christopher Soghoian of the Open Society Institute. He confuses commercial privacy with government privacy: “The dirty secret of the Web is that the “free” content and services that consumers enjoy come with a hidden price: their own private data. Many of ... Privacy Again
TOTM goes to court
Last year I wrote here about Roni LLC v Arfa, which I cited as an example of the ”troubling lawlessness of NY LLC law.” In brief, the court sustained a non-disclosure claim based on “plaintiffs’ allegations that the promoter defendants planned the business venture, organized the LLCs, and solicited plaintiffs to invest in them” despite ... TOTM goes to court
Filmmakers imagine finance
Margin Call is the best film to come out of the recent financial crisis. This is no polemic masquerading as a “documentary” (Inside Job) or good vs. evil melodrama (Money Never Sleeps). It is serious film, with superb acting, script, direction and photography, which uses the financial crisis as the realistic backdrop for a timeless ... Filmmakers imagine finance
Where have all the IPOs gone?
Ritter, Gao and Zhu ask, Where have all the IPOs Gone? Well, not to young men everywhere, but to the older men and women who run the big companies that have replaced public markets as the key venture capital exit. Here’s the abstract: During 1980-2000, an average of 311 companies per year went public in ... Where have all the IPOs gone?
Extending & Rebutting Edelman & Lockwood on Search Bias
In my last post, I discussed Edelman & Lockwood’s (E&L’s) attempt to catch search engines in the act of biasing their results—as well as their failure to actually do so. In this post, I present my own results from replicating their study. Unlike E&L, I find that Bing is consistently more biased than Google, for ... Extending & Rebutting Edelman & Lockwood on Search Bias
Washington Privatizes Liquor Sales
Washington voters took a big step in yesterday’s election and approved an initiative, known as I-1183, to privatize state liquor sales. Privatization of alcohol sales has been an issue I’ve tracked here at TOTM (see e.g., here). Many states strictly regulate liquor sales through state ownership of liquor stores and required distribution through wholesalers. These ... Washington Privatizes Liquor Sales
Law school applications and opportunity costs
Many believe that law school applicants have been misled about or just don’t understand the market for legal services. I think it’s worth exploring the alternative hypothesis that law school is college grads’ best opportunity despite the market. Today’s WSJ discusses one possible basis for this conclusion — college students’ poor choice of what ... Law school applications and opportunity costs
Herman Cain, AGCO, and the Oil-for-Food Bribery Settlement
I don’t share this to offer an opinion on the underlying action, but I thought it would be an item of interest to our readers. Much has been written on this blog about challenges in the SEC’s FCPA enforcement process. I am surprised the news media hasn’t touched Herman Cain’s relationship with AGCO Corp. during ... Herman Cain, AGCO, and the Oil-for-Food Bribery Settlement
Investigating Search Bias: Measuring Edelman & Lockwood’s Failure to Measure Bias in Search
Last week I linked to my new study on “search bias.” At the time I noted I would have a few blog posts in the coming days discussing the study. This is the first of those posts. A lot of the frenzy around Google turns on “search bias,” that is, instances when Google references its ... Investigating Search Bias: Measuring Edelman & Lockwood’s Failure to Measure Bias in Search
