Showing results for: “digital markets act”
More on the HMGs: Scoring Unilateral Effects with the GUPPI
Steve Salop, Serge Moresi, and John Woodbury have posted a very useful primer on the new HMGs new “value of diverted sales” approach to unilateral effects: the gross upward pricing pressure index (GUPPI). Here’s the basic idea: This concept of “value of diverted sales measured in proportion to the lost revenues attributable to the reduction ... More on the HMGs: Scoring Unilateral Effects with the GUPPI
Insurance markets in everything …
As the guys at MR would say…(ESPN). Hair insurance edition: Just call Troy Polamalu the man with the million dollar hair. The long, flowing black hair that tumbles out of Polamalu’s helmet and down his back — it’s nearly three feet long — has been insured for $1 million by Head and Shoulders, the shampoo ... Insurance markets in everything …
The SEC vs. shareholders
One of the great myths about the SEC’s new proxy access rule is that it is pro-shareholder, or at least gives new clout to shareholders. This is simply wrong, since the SEC evidently did not intend to help shareholders, or at least anything like a significant fraction of the universe of shareholders, and almost certainly ... The SEC vs. shareholders
The Roberts Court and the Limits of Antitrust
I’ve just finished a draft of a paper for an upcoming conference on the Roberts Court’s business law decisions. Volokh blogger Jonathan Adler, who directs the Center for Business Law and Regulation at Case Western, is organizing the conference. The other presenters are Adam Pritchard from Michigan (covering the Court’s securities decisions), Brian Fitzpatrick from ... The Roberts Court and the Limits of Antitrust
My Favorite Corporate Law Blogs
Here’s what I spend my time reading every morning in the blogosphere. Readers, have I forgotten any? Professor Bainbridge. Our good blog neighbor comments on the latest developments in corporate law and securities regulation. Posts range from practical advice on the evolution of corporate law to snippets of Professor B’s latest academic work. Insightful political ... My Favorite Corporate Law Blogs
Deception and “Tells” in Business in Poker
The Economist points to a very interesting study by Stanford’s David Larcker and Anastasia Zakolyukina on the use of deception in the business environment (HT: Brian McCann). The article’s title, “How to Tell When Your Boss is Lying,” gets at the thrust of the piece. Larcker and Zakolyukina look at conference call transcripts from 2003 ... Deception and “Tells” in Business in Poker
Proxy access arrives. Now what?
Here’s the SEC’s release, its summary and another one by Lisa Fairfax. As I’ve said, “peek behind the “shareholder democracy” rhetoric and we see * * * federal control of corporate law [and] turning corporate governance into a political battle between unions and managers.” As for the federal takeover, the SEC’s adopting release says We ... Proxy access arrives. Now what?
Antitrust Formalism Is Dead! Long Live Antitrust Formalism!: Some Implications of American Needle v. NFL
My take on American Needle, forthcoming in the Cato Supreme Court Review and co-authored with Judd Stone. I’ll be discussing the paper at the Cato Institute Constitution Day on September 16th, and as luck would have it, on a panel with co-blogger Larry Ribstein (who will be offering his take on Jones v. Harris) is ... Antitrust Formalism Is Dead! Long Live Antitrust Formalism!: Some Implications of American Needle v. NFL
TOTM Welcomes Eric Helland
TOTM is very pleased to announce the addition of yet another permanent blogger to our roster. Eric Helland is an economist at Claremont-McKenna College and publishes extensively in law and economics. Among other accomplishments, Eric has served as a Senior Staff Economist on the President’s Council of Economic Advisers. Eric’s publication record is extensive, and ... TOTM Welcomes Eric Helland
The regulatory origins of the flash crash
On May 6, 2010, the market suddenly swung a thousand points. Nobody really knows why. But Dennis Berman, in the WSJ, has a clue – maybe the regulators did it. He notes that today’s market results from 1975 market reforms aimed at eliminating market makers who were increasing trading costs by increasing spreads: [B]y the ... The regulatory origins of the flash crash
Criminalizing fiduciary breach
I have posted my Senate testimony from last spring (“Fiduciary Duties of Investment Bankers: Senate Testimony – May 4, 2010”). There I comment on Arlen Specter’s subcommittee’s attempt to use the furor aroused by the SEC’s strike suit against Goldman to make some terrible new law. The subcommittee wanted to go beyond merely imposing new ... Criminalizing fiduciary breach
Thoughts on the non-mosque mosque
I’ve resisted posting about this, since everything that could be said has been said. But I can’t abide the views expressed everywhere, even among my friends and colleagues, that I’m a bigot or ignorant or anti-Muslim or xenophobic for thinking the proposed Park51 project (nee Cordoba House) should be voluntarily moved by its backers.
