Showing archive for: “Economics”
The Return of Chicago Law and Economics?
A few years ago, spurred on by Justice Scalia’s observation that the school had lost “the niche it once had as a rigorous and conservative law school,” there was some blog discussion about the apparent decline of Law and Economics at the University of Chicago. Professor Bainbridge observed that it was certainly the case that ... The Return of Chicago Law and Economics?
Agency Costs and Airline Delays
Luke Froeb has a great post on the chart above, agency costs, and airline delays. In particular, Froeb is interested in “on-time” departures, i.e. the plane pushes back from the gate on time, but sits near the gate until it is their turn in the queue. Read the whole thing, but here is the key ... Agency Costs and Airline Delays
The cash hoarding problem and some solutions
As I discussed last May, corporations are hoarding cash. According to today’s WSJ, they’re still hoarding cash. Mira Ganor writes, in Agency Costs in the Era of Economic Crisis, that it could be about CEO compensation. Here’s the abstract: This Article reports results of an empirical study that suggests that the current economic crisis has ... The cash hoarding problem and some solutions
Illinois Corporate Colloquium: Choi on SEC backdating investigations
Yesterday at the Illinois Corporate Colloquium Steve Choi presented his paper (with Pritchard and Weichman), Scandal Enforcement at the SEC: Salience and the Arc of the Option Backdating Investigations. Here’s the abstract: We study the impact of scandal-driven media scrutiny on the SEC’s allocation of enforcement resources. We focus on the SEC’s investigations of option ... Illinois Corporate Colloquium: Choi on SEC backdating investigations
The uncorporation and energy infrastructure
My paper, Energy Infrastructure Investment and the Rise of the Uncorporation has been published in the current issue of the Journal of Applied Corporate Finance. It includes a useful summary of my views of uncorporations applied to larger firms. As of now it’s behind a pay wall. Here’s the abstract: While most large U.S. businesses have long ... The uncorporation and energy infrastructure
ACS Blog Debate on Google: Retrograde Antitrust Analysis is No Fit for Google
I am participating in an online “debate” at the American Constitution Society with Professor Ben Edelman. The debate consists of an opening statement and concluding responses to be posted later in the week. Professor Edelman’s opening statement is here. I am cross-posting my opening statement here at TOTM, and will cross-post my closing statement later ... ACS Blog Debate on Google: Retrograde Antitrust Analysis is No Fit for Google
The Law and Economics Revolution in Securities Law, Part V
Law Review Editors…take note. You may get an opportunity to catch this one in February if you play your cards right. I’ve been blogging updates of my research for a new article developing what the economic analysis provisions of the National Securities Markets Improvement Act of 1996 requires of new SEC rulemaking. Blog colleague Prof. ... The Law and Economics Revolution in Securities Law, Part V
Welcome Digitopoly!
This looks like a great new blog on economics and technology from a top notch group of economists: Erik Brynjolfsson, Joshua Gans and Shane Greenstein. Welcome Digitopoly. Now added to the blogroll. Here’s their description of the blog: This blog was established by Professors Erik Brynjolfsson, Joshua Gans and Shane Greenstein. They noticed that there ... Welcome Digitopoly!
The problem of the corporate tax
John Steele Gordon, writing in the WSJ, peels the corporate veil away from Warren Buffett’s tax situation: Warren Buffett recently claimed that he had paid only $6.9 million in taxes last year. But Berkshire Hathaway, of which Mr. Buffett owns 30%, paid $5.6 billion in corporate income taxes. Were Berkshire Hathaway a Subchapter S corporation ... The problem of the corporate tax
Nobel Speculation: Armen Alchian, Harold Demsetz and Benjamin Klein Should Win the Prize in 2011
Its time to dust off (and slightly update) an old post for its annual republication around this time each year. With the start of the school year comes another fall tradition here at TOTM: Nobel speculation. More specifically, every fall I yell from the rooftops that some combination of Armen Alchian, Harold Demsetz and Ben ... Nobel Speculation: Armen Alchian, Harold Demsetz and Benjamin Klein Should Win the Prize in 2011
GMU Law’s Gordon Tullock a Front-Runner for 2011 Nobel Prize in Economics?
Thomson-Reuters has listed its “Citation Laureates,” its predictions for particular scholars winning a Nobel prize sometime in the future (not necessarily this year). Of particular interest to readers of this blog is that George Mason Law Professor Emeritus Gordon Tullock (long mentioned as a favorite of those predicting the Economics prize on this blog) is ... GMU Law’s Gordon Tullock a Front-Runner for 2011 Nobel Prize in Economics?
Obama’s Fatal Conceit
From the beginning of his presidency, I’ve wanted President Obama to succeed. He was my professor in law school, and while I frequently disagreed with his take on things, I liked him very much. On the eve of his inauguration, I wrote on TOTM that I hoped he would spend some time meditating on Hayek’s ... Obama’s Fatal Conceit
