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New EU Antitrust Chief: Joaquin Almunia
Joaquin Almunia, described by the WSJ story as a Spanish socialist. Almunia's current charge has been to help craft the EU's response to the financial crisis: In his current job, Mr. Almunia, 61 years old, has been in the thick of the EU's response to the financial crisis, though the ...
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Haiku Economics
Here. And Haiku as a teaching tool. Happy Thanksgiving.
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ELS, CELS and Bubbles in Legal Scholarship
Some interesting thoughts from David Zaring and Larry Ribstein on the future of the empirical legal studies movement and its flagship conference, CELS. Zaring asks whether there is enough glue holding the various constituencies within the ELS movement together. Ribstein warns of an empirical ...
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Antitrust News
The latest on the insurance industry antitrust exemption (still there, so far) The EU targets Standard & Poor's The Bowl Championship Series hires Ari Fleischer Documenting the uptick in antitrust enforcement in the high-tech sector An interesting IP/antitrust case to watch
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Watch CELS on the Web
If you cannot attend this year's excellent looking (program here) Conference on Empirical Legal Studies, which is at USC Friday and Saturday, you can watch the webcast of the panels here. This is a pretty nifty addition to the conference and one that I appreciate as I'll be missing it ...
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A Decision-Theoretic Rule of Reason for Minimum Resale Price Maintenance
My latest working paper, which bears the same title as this post, is now available on SSRN. In the paper, I address the challenge created by the Supreme Court's 2007 Leegin decision, which abrogated the 96 year-old rule declaring resale price maintenance (RPM) to be per se illegal. ...
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New Federal Trade Commissioner Nominees Julie Brill and Edith Ramirez
The President has announced his intention to nominate two new Federal Trade Commissioners: Julie Brill and Edith Ramirez. Brill comes from a State AG background (Vermont and most recently North Carolina). Ramirez was a partner at Quinn Emanuel whose bio suggests significant experience in ...
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Is the Intel/AMD Settlement Illegal?
truthonthemarket.com — So, AMD and Intel settled. Its a case we've covered here in significant detail. Terms haven't been... announced publicly. AAI has predictably argued that the settlement shouldn't preclude further enforcement action from NY and the FTC. The NY Times ... (more) Is the Intel/AMD Settlement Illegal?
PeaceHealth and De Facto Exclusive Dealing, Part III
Josh's thoughtful response (Bitchslap? Nah.) to my post criticizing the Ninth Circuit's recent Masimo decision raises a number of important matters. I started to just submit a comment to Josh's post, but then I figured a reply was post-worthy. (I don't want the antitrust nerds who read these ...
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Hedge Funds & The SEC
Thanks so much to my new colleagues at Truth on the Market for inviting me to join an impressive group of scholars on a blog I have followed for many years now. Chairman Frank of House Financial Services has an interesting thought on how to prevent the next financial ...
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Gelbach, Helland and Klick on Single Firm, Single Event Studies
Larry Ribstein points to the new paper from Gelbach, Helland and Klick on Valid Inference in Single Firm, Single Event Studies. This is an important paper with implications for finance, securities litigation and antitrust where event studies are frequently used as economic expert evidence.  ...
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The UPS v. FedEx “bitchfight”
Hilarious video from reason.tv. (HT: Luke Froeb)
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Should PeaceHealth Apply to De Facto Exclusive Dealing Claims?
Thom answers this question in the affirmative in his excellent post about the Ninth Circuit's analysis in Masimo and is disappointed that the Ninth Circuit rejected the discount attribution standard as the sole test for Section 2 in favor of a separate inquiry as to whether the bundled discount ...
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Hayek and the Fall of the Wall
As we reflect back on the remarkable events of twenty years ago, and as we witness more and more centralized economic planning in our own society, we should pause to remember what the fall of the wall revealed. Consider Alan Greenspan's account (The Age of Turbulence, pp. 131-32): Controlled ...
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Oracle is nonplussed; the DOJ is . . . plussed?
The European Commission has issued a Statement of Objections in response to Oracle's proposed acquisition of Sun. The deal had already cleared the DOJ's review. Oracle is none too happy about the development, issuing a strongly-worded statement. Here's a taste: The database market is ...
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Some Links
Larry Ribstein on exempting small firms from SOX Bernie Sanders' "Too Big to Fail, Too Big to Exist" Bill (but see here) More Professor Birdthistle on Jones v. Harris Michael Ward on the economics of H1N1 (here, here and here) Lots of blogging on the meat market --- but I've seen nobody ...
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The CFPA’s Effect on Consumer Credit and A Wager Proposal for Professor Levitin
Professor Adam Levitin is not impressed by our prediction of the effect on consumer credit of the CFPA. Readers might recall that, using estimates from the literature on the effect of regulatory shocks on interest rates and of the long-term debt elasticity, we offered a (in our words) "rough ...
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As New York goes, so goes the FTC?
The New York Times is reporting that New York's attorney general, Andrew Cuomo, has filed an antitrust suit against Intel. According to the report, The New York move increases the chances that the F.T.C. will take action against Intel, according to a person who was familiar with the state’s ...
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PeaceHealth Should Apply Even When a Bundled Discount Results in “De Facto” Exclusive Dealing
The Ninth Circuit, whose PeaceHealth decision moved the law on bundled discounting in the right direction, recently issued another decision on bundled discounts. That decision, Masimo Corp. v. Tyco Health Care Group, L.P., threatens to limit PeaceHealth's effectiveness. Medical device ...
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Some Links
Get your Jones v. Harris fix from (including reactions to oral argument) the Glom and Professor Bainbridge (my earlier thoughts on some economic aspects of the decision here and here) Kenneth Anderson has been a great addition to the Volokh Conspiracy Are Microsoft, Yahoo and Google really ...
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