Showing results for: “digital markets act”
"Yale on $0 a Day" Sparks a Wonder Moment
We’re so immersed in the benefits of a market economy that I fear we sometimes fail to notice what a marvel capitalism is. Today’s Wall Street Journal points to yet another of capitalism’s benefits. A growing number of very, very fancy colleges with very, very talented professors and very, very expensive tuition are offering their ... "Yale on $0 a Day" Sparks a Wonder Moment
New Paper on Majority Voting for the Election of Directors
A draft of my new paper entitled Majority Voting for the Election of Directors is now up on SSRN. I co-authored the piece with Young Kim, a finance professor at Northern Kentucky, so it has an empirical component. Here’s the abstract: We explore the theory, law, and practice of the shift from a plurality voting ... New Paper on Majority Voting for the Election of Directors
New proposed accredited investor definition specifically for hedge funds
A post on DealBook pointed me to a recent SEC release I missed over the holidays. The proposed rules contained in the release “are designed to provide additional investor protections” with respect to hedge funds. The proposed rules include amendments to Regulation D that change the definition of accredited investor to be applied to a ... New proposed accredited investor definition specifically for hedge funds
The New York Times–shocker!–hates the University of Phoenix
Peter Klein at the always excellent Organizations & Markets Blog has a characteristically excellent post on the New York Times’ characteristically anti-market article on the University of Phoenix (and for-profit higher education). Lest there be any doubt that the article was meant to cast UOP in an unflattering light, check out the picture of UOP’s president, William ... The New York Times–shocker!–hates the University of Phoenix
Wright on Pasquale on TOTM on DRM
Frank Pasquale has taken the time to respond to my earlier post on the use of antitrust to tax consumers on the grounds of fairness or other vague criteria. I take the basic point of Frank’s post to be that I have engaged in unfair burden shifting by demanding a showing of consumer harm prior ... Wright on Pasquale on TOTM on DRM
Coase, Penalty Defaults, and the Disgorgement Remedy for Breach of Fiduciary Duty
Law students, I have found, often have a hard time seeing how the Coase Theorem applies outside the context of land use conflicts. They also tend to think Coase’s insight is not so important because, they recite (parroting some of their professors), “Transactions costs are always present.” This saddens me, for the more I look ... Coase, Penalty Defaults, and the Disgorgement Remedy for Breach of Fiduciary Duty
The Market for DRM
Everyone is talking about Steve Jobs’ open letter on DRM,”Thoughts on Music,” including, best among all of them, my colleague, Josh.  Among many others, see excellent entries from Jim DeLong, Randy Picker and Mike Madison. Frank Pasquale weighs in with a predictable post about how wonderful the world would be if we just regulated his (perfect) vision of ... The Market for DRM
Using Antitrust to Tax Consumers is a Bad Idea Even If You Really, Really Want "True" Interoperability
There is some antitrust buzz in the air after Steve Job’s “Thoughts on Music,” which discussed the possibility of eliminating DRM entirely. The real antitrust story, I suspect, is whether the rather transparent attempt to shift the gaze of regulators fixated on the iPod/iTunes combo to the big four’s “refusal” to go DRM-free will have ... Using Antitrust to Tax Consumers is a Bad Idea Even If You Really, Really Want "True" Interoperability
Is There Really Less Securities Fraud? And If So, Should We Thank the Feds?
Securities fraud class-actions are down. In an op-ed in yesterday’s WSJ, Joseph Grundfest observed that both the number of such actions and the dollar value of total damages claims have dropped dramatically since mid-2005. Why has this decline occurred? Grundfest considers several possible reasons. First, the decline might be due to the criminal prosecution of ... Is There Really Less Securities Fraud? And If So, Should We Thank the Feds?
Hazlett on the Madness of e-Crowds
This piece by my colleague Tom Hazlett is really the best thing I’ve read online all week and has been getting some attention across the blogosphere (see, e.g., here and here) and I’m happy to contribute by posting Hazlett’s characteristically powerful punchline: The point is not that “closed†beats “open,†but that capitalism accommodates both. ... Hazlett on the Madness of e-Crowds
Let Ethanol Fail
The recent State of the Union address, in which President Bush called for an almost 500% increase in alternative fuel consumption by 2017, once again turned the nation’s attention to the various elixirs that promise to make the U.S. “energy independent.” The closer we look, though, the less appealing the leading alternative fuel — ethanol ... Let Ethanol Fail
Rizzo and Whitman on Paternalist Slopes
Libertarian paternalism, behavioral law and economics, and “soft” paternalism are topics of discussion here on TOTM from time to time (see, e.g. here, here, and here). Two very good economists who think about these problems quite a bit, Mario Rizzo (NYU) and Glen Whitman (Agoraphilia, CSUN), have posted their paper “Paternalist Slopes.” I had the ... Rizzo and Whitman on Paternalist Slopes
