Showing archive for: “Microeconomics: Decision-Making under Risk & Uncertainty”
Antitrust at the Agencies: Pour One Out for Southern Glazer’s
The Federal Trade Commission (FTC) has settled a wine-and-spirits case, and its press release reads like a victory toast. The two commissioners who approved the deal write as if they’d rather send the bottle back. Consumers might want to check the tab. The settlement in Southern Glazer’s Wine and Spirits landed just after I’d put ... Antitrust at the Agencies: Pour One Out for Southern Glazer’s
California’s COMPETE Act: May the Best Firm Lose
Gov. Gavin Newsom has signed Assembly Bill 1776, the so-called COMPETE Act, making California the first state to add a general prohibition on anticompetitive conduct by individual firms to its principal antitrust statute. Newsom’s announcement casts the law as a way to help small businesses and stop large companies from “shutting out competition.” The law ... California’s COMPETE Act: May the Best Firm Lose
‘Uncertainty, Evolution, and Economic Theory,’ by Armen Alchian
One of the most persistent criticisms of law & economics is that it rests on unrealistic assumptions. Economic models often assume firms maximize profits, investors respond rationally to incentives, and market participants systematically adjust their behavior in predictable ways. Critics frequently point to these assumptions as evidence that economic analysis is detached from reality. Real ... ‘Uncertainty, Evolution, and Economic Theory,’ by Armen Alchian
Sprigman and Buccafusco on Valuing Intellectual Property
We would like to start by thanking Josh for inviting us to participate in what promises to be a fascinating discussion on an important subject. We’re looking forward to engaging with the other members of the symposium. To begin with, we would like to talk about some of our own experimental research on the valuation ... Sprigman and Buccafusco on Valuing Intellectual Property
