Showing archive for: “Economics”
The taste for insider trading law
Steve Bainbridge responds to my post about insider trading as compensation with a suggestion that rules against insider trading are an example of a case “where mandatory rules are appropriate.” I was about to sputter about laws against insider trading are really about property rights, and surely property should be alienable — right? And about ... The taste for insider trading law
Nevada and the market for corporate law
I’m just catching up with this Board Member article about Delaware’s new competitor, Nevada. It notes that Nevada’s share of the out-of-state incorporation market rose from 4.6% in 2000 to 6% in 2007. Part of this may be due to lower fees than Delaware. But that can’t be the full explanation because all states are ... Nevada and the market for corporate law
Advance praise for Manne & Wright book on regulating innovation
Our book, Competition Policy and Patent Law Under Uncertainty: Regulating Innovation will be published by Cambridge University Press in July. The book’s page on the CUP website is here. I just looked at the site to check on the publication date and I was delighted to see the advance reviews of the book. They are ... Advance praise for Manne & Wright book on regulating innovation
Organizing Economists at the CFPB
With the recent announcement of Sendhil Mullainathan as the Assistant Director for Research at the Consumer Financial Protection Bureau (WSJ profile here), while one turns to the question of how economic input will be incorporated into agency decision-making. Luke Froeb makes a nice point about the organization of economists in administrative agencies: The FTC, which ... Organizing Economists at the CFPB
AALS Call for Papers on Behavioral Economics & Antitrust Law
Call for Papers Announcement AALS Section on Antitrust and Economic Regulation AALS Section on Law & Economics Behavioral Economics & Antitrust Law January 5-8, 2012 2012 AALS Annual Meeting Washington, DC The AALS Section on Antitrust and Economic Regulation and the Section on Law & Economics will hold a joint program ... AALS Call for Papers on Behavioral Economics & Antitrust Law
Barnett v. Barnett on Antitrust
Tom Barnett (Covington & Burling) represents Expedia in, among other things, its efforts to persuade a US antitrust agency to bring a case against Google involving the alleged use of its search engine results to harm competition. In that role, in a recent piece in Bloomberg, Barnett wrote the following things: “The U.S. Justice Department ... Barnett v. Barnett on Antitrust
Taxing big uncorporations
A few days ago Paul Caron summarized moves toward corporate taxation of pass-through entities with more than $50 million gross receipts, adding links to prior posts on this subject. Today’s WSJ echoes this story, quoting Sen. Max Baucus, Senate Finance Chair: “We’re talking about business income here. Why not have the large pass-throughs … pay ... Taxing big uncorporations
FTC Microeconomics Conference
The Fourth Annual FTC Microeconomics Conference is scheduled for November 3 and 4, 2011. Here is the call for papers: The Federal Trade Commission’s Bureau of Economics will host a two day conference to bring together scholars working in areas related to the FTC’s antitrust, consumer protection and public policy missions. Those areas include industrial ... FTC Microeconomics Conference
Prosecutorial liability and prosecuting corporate agents
Retired Justice Stevens has some interesting comments on Connick v. Thompson, reported here. Connick, by a 5-4 conservative/liberal vote, reversed the Fifth Circuit’s affirmance of a $14 million verdict to a man imprisoned on death row for 14 years after prosecutors failed to turn over exonerating evidence. The Court held that you need a pattern ... Prosecutorial liability and prosecuting corporate agents
Jets and LBOs
I have written about the disciplinary effect of the uncorporate form, particularly in LBOs. See, e.g., here and Chapter 8 of my Rise of the Uncorporation. Now here’s more evidence: Edgerton, Agency Problems in Public Firms: Evidence from Corporate Jets in Leveraged Buyouts. Here’s the abstract: This paper uses rich, new data to examine the ... Jets and LBOs
Keynes vs. Hayek, Round II
Another of Russ Roberts’ and John Papola’s brilliant “Keynes vs. Hayek” rap videos is now online. (If you missed the first one, it’s here.) Whereas the first video focused largely on monetary policy, this one looks mainly at fiscal policy. Both are truly masterful. I’m amazed that Roberts and Papola were able to incorporate so much of the substance ... Keynes vs. Hayek, Round II
Into Eternity
One of the ways I celebrated my birthday yesterday in Chicago was seeing a movie in the afternoon(!) at the Siskel Center. The film is Into Eternity. Here’s the setup: Finland has nuclear waste which can be dangerous to humans for 100,000 years. So they’ve decided to bury in a way that it will ... Into Eternity
