Showing archive for: “Economics”
Ginsburg & Wright on Dynamic Analysis and the Limits of Antitrust Institutions
Judge Douglas Ginsburg (D.C. Circuit Court of Appeals; NYU Law) and I have posted “Dynamic Antitrust and the Limits of Antitrust Institutions” to SSRN. Our article is forthcoming in Volume 78 (2) of the Antitrust Law Journal. We offer a cautionary note – from an institutional perspective – concerning the ever-increasing and influential calls for greater ... Ginsburg & Wright on Dynamic Analysis and the Limits of Antitrust Institutions
RIP, Elinor Ostrom
Nobel Laureate (and UCLA alumna) Elinor Ostrom has passed. From the IU press release: The entire Indiana University community mourns the passing today of Distinguished Professor Elinor Ostrom, who received the 2009 Nobel Prize in Economic Sciences for her groundbreaking research on the ways that people organize themselves to manage resources. Ostrom, 78, died of ... RIP, Elinor Ostrom
Wise and Timely Counsel from John Taylor, F.A. Hayek, and Reagan’s Economic Advisers
In light of yesterday’s abysmal jobs report, yesterday’s Wall Street Journal op-ed by Stanford economist John B. Taylor (Rules for America’s Road to Recovery) is a must-read. Taylor begins by identifying what he believes is the key hindrance to economic recovery in the U.S.: In my view, unpredictable economic policy—massive fiscal “stimulus” and ballooning debt, the Federal ... Wise and Timely Counsel from John Taylor, F.A. Hayek, and Reagan’s Economic Advisers
New Article Forthcoming in Yale Law Journal: The Antitrust/ Consumer Protection Paradox: Two Policies At War With One Another
Yale Law Journal has published my article on “The Antitrust/ Consumer Protection Paradox: Two Policies At War With One Another.” The hat tip to Robert Bork’s classic “Antitrust Paradox” in the title will be apparent to many readers. The primary purpose of the article is to identify an emerging and serious conflict between antitrust and ... New Article Forthcoming in Yale Law Journal: The Antitrust/ Consumer Protection Paradox: Two Policies At War With One Another
Richard Thaler on “Slippery Slopes”
In today’s New York Times, Richard Thaler argues that the Constitutional “slippery slope” argument in the Obamacare case (“Today health care, tomorrow broccoli”) is misguided. This is a strange argument in this particular case. We must remember that all of today’s commerce clause jurisprudence (which everyone agrees has greatly expanded the power of the Federal ... Richard Thaler on “Slippery Slopes”
The Economics of Drip Pricing at the FTC
The FTC is having a conference in the economics of drip pricing: Drip pricing is a pricing technique in which firms advertise only part of a product’s price and reveal other charges later as the customer goes through the buying process. The additional charges can be mandatory charges, such as hotel resort fees, or fees ... The Economics of Drip Pricing at the FTC
The folly of the FTC’s Section Five case against Google
In the past weeks, the chatter surrounding a possible FTC antitrust case against Google has risen in volume, thanks largely to the FTC’s hiring of litigator Beth Wilkinson. The question remains, however, what this aggressive move portends and, more importantly, why the FTC is taking it. It is worth noting at the outset that, as ... The folly of the FTC’s Section Five case against Google
Abandoning Antitrust’s Chicago Obsession: The Case for Evidence-Based Antitrust
I’ve posted to SSRN an article written for the Antitrust Law Journal symposium on the Neo-Chicago School of Antitrust. The article is entitled “Abandoning Chicago’s Antitrust Obsession: The Case for Evidence-Based Antitrust,” and focuses upon what I believe to be a central obstacle to the continued evolution of sensible antitrust rules in the courts and ... Abandoning Antitrust’s Chicago Obsession: The Case for Evidence-Based Antitrust
How Well Do Incentive Programs in the Workplace Work?
WSJ has an interesting story about the growing number of employer efforts to import “game” like competitions in the workplace to provide incentives for employees to engage in various healthy activities. Some of these ideas sound in the behavioral economics literature, e.g. choice architecture or otherwise harnessing the power of non-standard preferences with a variety ... How Well Do Incentive Programs in the Workplace Work?
Happy 98th Birthday to Armen Alchian!
The great economist Armen Alchian turned 98 yesterday. Armen is the father of the UCLA tradition in economics. I had the great honor of having Armen on my dissertation committee and cannot imagine being prouder of my association with him. Armen’s contributions to economics as diverse as they are penetrating. Armen was one of the ... Happy 98th Birthday to Armen Alchian!
Joking about politics
On November 3rd, the president of the United States spoke at the Hotel Lowry in St. Paul, Minnesota, in what was billed repeatedly as a bi-partisan address. The president ridiculed reactionaries in Congress who he claimed represented the wealthy and the powerful, and whose “theory seems to be that if these groups are prosperous, they ... Joking about politics
Gary Becker, the Economic Approach to Crime, and Guerilla Grafters
Fruit trees in a number of cities, including San Francisco, are prevented from bearing fruit in the name of “protecting” pedestrians from slip and falls and keeping away insects and vermin. In response to these regulations, a group of Guerilla Grafters has emerged to — you guessed it — graft fruit bearing branches onto the ... Gary Becker, the Economic Approach to Crime, and Guerilla Grafters
