Showing results for: “digital markets act”
Lysine Cartel Video Available from DOJ
Todd Zywicki recommends Kurt Eichenwald’s The Informant, the fascinating story of the prosecution of the Archer Daniels Midland lysine cartel in the 1990s, and asks whether the famous DOJ videotapes and transcripts of cartel meetings are available online. I’m not sure if they are online, but the DOJ does make the tapes and transcripts available free ... Lysine Cartel Video Available from DOJ
The Aftermath of a Type I Error: The Case of Conwood Co. v. United States Tobacco
It looks like California consumers, unlike their counterparts in several other states, will be getting cash instead of coupons in their settlement against U.S. Tobacco in one of the many follow-on actions to Conwood Co. v. United States Tobacco. The settlement looks to be in the range of $96 million with qualifying customers taking home ... The Aftermath of a Type I Error: The Case of Conwood Co. v. United States Tobacco
TOTM Authors Make SSRN Top 10 Lists
I am pleased to announce that that Thom’s excellent and provocative paper on Weyerhaeuser and the Search for Antitrust’s Holy Grail has made the Top 10 list (at #10) for Antitrust & Regulated Industries and Antitrust Law and Policy (#7). Congrats Thom! On top of that, I am doubly pleased that my own Behavioral Law ... TOTM Authors Make SSRN Top 10 Lists
Nobel Prize to Hurwicz, Maskin and Myerson
“for having laid the foundations of mechanism design theory.” Here’s a blurb from the Nobel website on mechanism design: Mechanism design theory, initiated by Leonid Hurwicz and further developed by Eric Maskin and Roger Myerson, has greatly enhanced our understanding of the properties of optimal allocation mechanisms in such situations, accounting for individuals’ incentives and ... Nobel Prize to Hurwicz, Maskin and Myerson
Are Chimps Smarter than Humans?
I’ve previously hypothesized that the persistence of legal rules that lead to less overall wealth but seemingly more equitable distributions (rules such as the insider trading ban and Regulation FD) may stem from the fact that individuals are “hard-wired” to favor fairness, even if they must sacrifice some wealth to achieve it. That seems to ... Are Chimps Smarter than Humans?
Event Studies, Fischel, Bradley, and John Armstrong
I have long held reservations about corporate governance research that hinges on event studies. (An event study is “an analysis of whether there was a statistically significant reaction in financial markets to past occurrences of a given type of event that is hypothesized to affect public firms’ market values.” An example of the sort of ... Event Studies, Fischel, Bradley, and John Armstrong
Glen Whitman on Waldfogel's Tyranny of the Market
Over at Agoraphilia, Glen Whitman has a series of entertaining posts applying economic logic to a number of interesting topics. If you read Glen on a regular basis, than you won’t be surprised that the topics include things like restroom hand dryers and toilet seat signaling. But the post that caught my attention this week ... Glen Whitman on Waldfogel's Tyranny of the Market
Bootleggers and Baptists, Madison Style
Last Wednesday, the Wisconsin Supreme Court heard oral argument on whether to reinstate an antitrust lawsuit against taverns around the University of Wisconsin (story here). In 2002, the taverns agreed to eliminate drink specials after 8:00 PM on Fridays and Saturdays. A group of students filed a class action lawsuit against the taverns for injunctive ... Bootleggers and Baptists, Madison Style
Financial Times Email Forum on Microsoft CFI
Richard Epstein and Harry First answer email questions about the Microsoft CFI decision here. The answers predictably provide very different perspectives on the merits of the decision and its likely impact on consumer welfare. HT: Chicago Law Blog.
Thom, Tom, and Section 2
I highly recommend co-blogger Thom’s paper (discussed in this post) for those interested in the current Section 2 debate over the appropriate standard for exclusionary conduct. While I tend to fall into the camp that views unilateral firm conduct as too diverse for a “holy grail” test to make sense, and therefore support different tests ... Thom, Tom, and Section 2
Hazlett on Property Rights and Innovation
My colleague Tom Hazlett has a characteristically insightful essay in the Financial Times this week entitled “How the Walled Garden Promotes Innovation.” In response to critics that argue that “only a device that is optimised for any application and capable of accessing any network is efficient,” Hazlett offers Apple and DoCoMo as examples of how ... Hazlett on Property Rights and Innovation
Weyerhaeuser and the Search for Antitrust’s Holy Grail
I’ve just posted my latest antitrust article, Weyerhaeuser and the Search for Antitrust’s Holy Grail, to SSRN. Here’s the abstract: A general definition of exclusionary conduct has become a sort of Holy Grail for antitrust scholars. At present, four proposed definitions appear most promising: (1) conduct that could exclude an equally efficient rival; (2) conduct ... Weyerhaeuser and the Search for Antitrust’s Holy Grail
