Showing results for: “digital markets act”
Revisiting Two Classics as the New Semester Begins
Last Friday was the first day of my Business Organizations class. We began with two articles that have profoundly influenced my thinking about the world in general and the business world in particular. To inaugurate the new semester, I thought I’d take a moment and pay tribute to the insights in those articles (and solicit ... Revisiting Two Classics as the New Semester Begins
Directors and Time Management
I presented my “Not in Good Faith” paper at Cornell this past fall, and Professor Jeff Rachlinski (behavioral wonk, among other things) asked an interesting question that I would like to mention here. (Let me remind you that my “not in good faith” paper deals with a director’s obligation to act “in good faith.” My general ... Directors and Time Management
Dear Home Depot Board of Directors,
I write regarding the soon-to-be-vacant position of CEO of Home Depot. As I understand it, the position pays well, little is demanded in terms of results, and the exit package is great. I would like to be hired to fill the CEO position. I realize Frank Blake has been tapped as the new CEO, but ... Dear Home Depot Board of Directors,
Manne on Shareholder Democracy
Henry Manne is back with another article in the WSJ. This time Manne goes toe-to-toe with the “corporate democrats.” Profs Ribstein (“Shareholder democracy is just one of the burdens that public corporations have to bear these days”) and Bainbridge (“it’s a brilliant spanking of the shareholder activists, which I highly commend to your attention”) have ... Manne on Shareholder Democracy
Warren on Rationality, Choice, and Regulation in the Credit Card Market
Elizabeth Warren (Credit Slips) points to an interesting empirical study by Agarwal, Liu, Souleses, and Chomsisengphet (“ALSC”) which examines consumer credit card selection in a natural experiment setting in which a card company offers two cards to consumers: (1) a high interest rate, no annual fee card and (2) a low rate card with an ... Warren on Rationality, Choice, and Regulation in the Credit Card Market
The Economics of Customer Service
Is the retail customer willing to pay for customer service? Gaggles of books have been written on the topic of customer service, and those books sell based on the belief that customers *care* about customer service. But do they? Do we? Do I? The idea that somehow customer service matters to the customer is not ... The Economics of Customer Service
"There is Little Evidence that Economic Analysis of Law Has Changed [Antitrust] in Any Noticeable Way"
Huh? This statement appears in this article by Professor Anthony D’Amato (Northwestern) on the failure of interdisciplinary scholarship in the legal academy. HT: Brian Leiter. Quite frankly, I was very surprised to see a claim like this in a paper written after 1970 or so. Even in corners of the academy hostile to economic analysis, ... "There is Little Evidence that Economic Analysis of Law Has Changed [Antitrust] in Any Noticeable Way"
Loyalty Discount Propositions
One of the more interesting parts of the November 29 DOJ/FTC hearing on loyalty discounts (where I presented these remarks) was the panelists’ discussion of a number of “propositions” advanced, for purposes of discussion only, by the agencies. Unfortunately, we didn’t have time to discuss all the propositions. I’ve reproduced them below the fold, along ... Loyalty Discount Propositions
Stay Classy San Diego
My prediction that the Chargers would win it all last month is not looking so bad after the clinic the Bolts put on the Broncos yesterday to clinch the division. Of course, the big news in the game is that Ladainian Tomlinson broke the all-time single season TD record. For those who didn’t see the ... Stay Classy San Diego
Bye Bye, Dr. Miles.
So it looks like Dr. Miles is going down. That’s a good thing. For non-antitrusters, Dr. Miles is a 1911 Supreme Court decision holding that “minimum vertical resale price maintenance” is per se illegal — that is, automatically illegal without inquiry into the practice’s actual effect on competition. Minimum vertical resale price maintenance (or “RPM”) ... Bye Bye, Dr. Miles.
Bundled Discounts, Exclusive Dealing, and Liability Rules: Thoughts on Crane and Lambert on Bundled Discounts
Dan Crane and Thom (who has promised more remarks!) have now both posted their prepared remarks for the Section 2 hearings panel on bundled discounts. Both call for bright-line, administrable liability rules for all forms of unilateral exclusionary conduct, and have important things to say about designing antitrust rules for bundled discounts. Both are worth ... Bundled Discounts, Exclusive Dealing, and Liability Rules: Thoughts on Crane and Lambert on Bundled Discounts
Friday Blog Reading
Zywicki on Curricular Reform Tabarrok on Organ Markets Dorf on Laptops in the Classroom Bill Simmons on the(dismal) State of NFL Announcing
