http://www.truthonthemarket.com Academic commentary on law, business, economics and more Wed, 06 Aug 2008 21:49:17 +0000 http://backend.userland.com/rss092 en Financial Times (HT: Danny Sokol) highlights the problem of multi-jurisdictional antitrust enforcement, emphasizing the rise of India and China.  The article repeats the basic point, worth repeating, that international cooperation can help avoid bad outcomes with multiple regulatory stakeholders with different incentives and institutional environments: That is not a criticism of ... http://www.truthonthemarket.com/2008/08/06/international-antitrust-explosion-in-the-ft/ Part 1, Part 2, and Part 3. Here is the paper with Betsey Stevenson. http://www.truthonthemarket.com/2008/08/06/wolfers-on-the-decline-of-happiness-of-inequality/ Over at Overcoming Bias, they are asking the following question: Given how little it seems to cost to have someone killed, why don't more corporations have their competitors' leaders knocked off? There are interesting answers in the comments suggesting that perhaps these killings or rival firms' leaders are more common or more ... http://www.truthonthemarket.com/2008/08/05/corporate-assassinations-and-antitrust/ Danny Sokol is conducting a survey of private practitioners for an empirical project examining how antitrust law shapes compliance.  The survey is here. http://www.truthonthemarket.com/2008/08/04/antitrust-survey/ While much has been said about the recent Milton Friedman Institute scuffle at the University of Chicago (including here at TOTM here), Chicago GSB Professor John Cochrane's scathing comments on the original Protest letter have stirred up some additional commentary worth reading.  In particular, Craig Newmark (who adds the new ... http://www.truthonthemarket.com/2008/08/04/more-milton-friedman-institute-commentary/ Geoff and Thom (see the comments) continue to have the Whole Foods litigation covered.  I don't and can't have anything to add to their comments about the particulars of the litigation.  I will note, playing off my previous post on bad case law out there looking to be overturned, that ... http://www.truthonthemarket.com/2008/08/02/the-price-of-merger-approval-and-triple-federal-enforcement/ The DC Circuit has reversed the district court in the Whole Foods case.  The opinion is here.  [HT:  Danny Sokol] As regular readers know, we have covered this case extensively on this blog, including most recently this great, lengthy post from Thom on the proper standard of review.  I wouldn't be surprised if ... http://www.truthonthemarket.com/2008/07/29/the-unfortunate-return-of-the-strange-red-haired-bearded-one-eyed-man-with-a-limp/ An interesting new paper by Ferri and Maber entitled Say on Pay Vote and CEO Compensation: Evidence from the UK has recently been posted on SSRN. Here's the abstract: In this study, we examine the effect on CEO pay of new legislation introduced in the United Kingdom (UK) at the ... http://www.truthonthemarket.com/2008/07/28/say-on-pay-in-the-uk/ New Institutional Economics: A Guidebook (Brousseau and Glachant eds., CUP 2008) is available.  HT: Peter Klein.  This looks like a wonderful collection of papers and a must-have resource for those interested in NIE, law and economics, or institutions more generally. http://www.truthonthemarket.com/2008/07/23/new-nie-book-available/ My colleague Tom Hazlett (George Mason University) has a characteristically thoughtful and provocative column in the Financial Times on the recent Clearwire joint venture and what it tells us about the "innovation commons" and current public policy debates such as network neutrality, spectrum property rights, and municipal wi-fi. Here's ... http://www.truthonthemarket.com/2008/07/23/the-demise-of-property-rights-has-been-greatly-exaggerated/ There's been a bit of discussion about the "most destructive" decision that is good law around the blogs, e.g. here and here, in response to John McCain's criticism of Boumedine calling it "one of the worst decisions in the history of this country." The line of discussion led me ... http://www.truthonthemarket.com/2008/07/22/what-is-the-worst-antitrust-decision-that-is-good-law/ Available here. http://www.truthonthemarket.com/2008/07/22/public-comments-in-ftc-v-n-data-decision/ First from McCain, who first claimed that there was "strong evidence of a link between vaccines and autism" and now has since revised his position acknowledging that there is no scientific evidence supporting such a link and emphasized his support for autism research.  See also Overlawyered, and here, and here. ... http://www.truthonthemarket.com/2008/07/22/autism-misinformation-continues/ Wow...: GSA officials were asked recently to reassess the total cost of donated items in what the agency called a routine audit.  "In doing so, it was determined that some of the unit costs were 'eaches' and others were 'for-case' lots. The final adjustments reveal there was a significant overstatement ... http://www.truthonthemarket.com/2008/07/22/a-665-million-math-error/ The August issue of the Antitrust Source will feature several short contributions from lawyers, judges, professors, and economists in the antitrust community suggesting some recommended reading (a book, scholarly article, or judicial opinion) for the transition team members of the new administration.  A preview of my submission appears below the ... http://www.truthonthemarket.com/2008/07/21/recommended-antitrust-reading-for-the-next-administration/