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Merchants persuaded a federal appeals court to throw out the Federal Reserve’s debit-card fee cap. They might want to hold the applause until they see its replacement. A ruling aimed at the Fed’s arithmetic could leave room for a higher cap—and a fuller accounting of what consumers get for those fees. In Corner Post, Inc. … Why Corner Post’s Merchant Victory May Not Ring Up Savings
Every October, financial journalism performs a small act of necromancy. Out comes the “Halloween effect,” the finding that stocks tend to earn higher returns from November through April than from May through October. It gives apparent empirical backing to the old stock-market adage “Sell in May and go away.” The implied strategy is simple: Hold … The Halloween Effect and the Premature Burial of Efficient Markets
What does it mean to be a law & economics (L&E) scholar? It can’t require a Ph.D. in economics. Richard Posner doesn’t have one. He didn’t even major in economics as an undergraduate, preferring English—as did his Chicago colleagues Douglas Baird and Diane Wood. It can’t require a law degree, either, or Ronald Coase, William … ‘Contemporary Law and Economics,’ by Adam Chilton, Joshua C. Macey & Mila Versteeg
