Showing archive for: “Economics”
Halbert White, RIP
Renowned UCSD economics professor, and founder of Bates White, Halbert White died on Saturday. His CV is here. James Hamilton offers a touching tribute and wonderful summary of White’s important work in econometrics here. Of White standard errors, perhaps his most well known contribution, Hamilton explains: An example arises in ordinary regression analysis, in which ... Halbert White, RIP
Potential Problems with an FDA Model for Regulating Financial Products
New York Times columnist Gretchen Morgenson is arguing for a “pre-clearance” approach to regulating new financial products: The Food and Drug Administration vets new drugs before they reach the market. But imagine if there were a Wall Street version of the F.D.A. — an agency that examined new financial instruments and ensured that they were safe and ... Potential Problems with an FDA Model for Regulating Financial Products
The Law and Economics of Any Willing Provider Laws
While I’m posting about health care regulation, I’d like to point TOTM readers to a short article with Jonathan Klick (University of Pennsylvania) summarizing the economics and empirical evidence surrounding “Any Willing Provider”(AWP) laws for the Washington Legal Foundation. We write: This analysis evaluates the antitrust law ramifications of proposals requiring pharmacy benefit managers (“PBMs”) ... The Law and Economics of Any Willing Provider Laws
Holtz-Eakin & Smith on The Economics of ObamaCare
Douglas Holtz-Eakin and my former George Mason colleague and Nobel Laureate Vernon Smith are in the WSJ today discussing the economic wisdom and constitutionality of ObamaCare. From the WSJ: The Obama administration defends the mandate on the ground that a person’s decision to not buy health insurance affects commerce by materially increasing the costs of ... Holtz-Eakin & Smith on The Economics of ObamaCare
The DOJ’s Problematic Attack on Property Rights Through Merger Review
The DOJ’s recent press release on the Google/Motorola, Rockstar Bidco, and Apple/ Novell transactions struck me as a bit odd when I read it. As I’ve now had a bit of time to digest it, I’ve grown to really dislike it. For those who have not followed Jorge Contreras had an excellent summary of events ... The DOJ’s Problematic Attack on Property Rights Through Merger Review
Got L&E Scholarship? Consider Submitting to the Supreme Court Economic Review
A colleague sent along the 2011 Washington & Lee law journal rankings. As co-editor of the Supreme Court Economic Review (along with Todd Zywicki and Ilya Somin) I was very pleased to notice how well the SCER is faring by these measures. While these rankings should always be taken with a grain of salt or ... Got L&E Scholarship? Consider Submitting to the Supreme Court Economic Review
Free to Err? An Exchange on Behavioral Law and Economics at the Liberty Forum
Douglas Ginsburg and I have posted “Free to Err: Behavioral Law and Economics and its Implications for Liberty” on the new and very good Liberty Forum. Our contribution is based upon a more comprehensive analysis of the implications of behavioral law and economics for both economic welfare and liberty forthcoming in the Northwestern Law Review. ... Free to Err? An Exchange on Behavioral Law and Economics at the Liberty Forum
Call for Papers for the Haas-Sloan Conference on the Law & Economics of Organization
Haas-Sloan Conference on The Law & Economics of Organization: New Challenges and Directions Nov. 30-Dec. 1, 2012 The Walter A. Haas School of Business, with support from the Alfred P. Sloan Foundation, is issuing a call for original research papers to be presented at the Conference on The Law & Economics of Organization: New Challenges ... Call for Papers for the Haas-Sloan Conference on the Law & Economics of Organization
A Decision-Theoretic Approach to Insider Trading Regulation
Regular readers will know that several of us TOTM bloggers are fans of the “decision-theoretic” approach to antitrust law. Such an approach, which Josh and Geoff often call an “error cost” approach, recognizes that antitrust liability rules may misfire in two directions: they may wrongly acquit harmful practices, and they may wrongly convict beneficial (or ... A Decision-Theoretic Approach to Insider Trading Regulation
Social Search, Efficiencies of Integration, and Antitrust
The web is all abuzz about possible antitrust implications concerning Google’s new personalized search (see, e.g., here and here), integrating search with Google Plus. Here is Google’s description of “Search, plus Your World”: We’re transforming Google into a search engine that understands not only content, but also people and relationships. We began this transformation with ... Social Search, Efficiencies of Integration, and Antitrust
Bainbridge on the SEC’s Conflict Minerals Disclosure Getting Business Roundtabled…
As in, “If the SEC doesn’t pull up its socks and do a serious cost-benefit analysis, it may discover that Business Roundtable has become a verb. As in, the court Business Roundtabled yet another SEC rule.” Here.
Tomorrow: AALS Antitrust and Economic Regulation and Law and Economics Joint Program
Tomorrow morning at 10:30 I’ll be on a panel at AALS discussing behavioral economics and antitrust law and policy. The panel includes: James Cooper, Bruce Kobayashi, William Kovacic, Steve Salop, Maurice Stucke, Avishalom Tor and myself. Its a really good group and I’m looking forward to the discussion. Here are the session details: The program ... Tomorrow: AALS Antitrust and Economic Regulation and Law and Economics Joint Program