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Making markets seem thicker

TOTM The Internet (read: inexpensive information dissemination) comes to the notoriously informationally-challenged housing market. The WSJ reports on a new website, zillow.com, which, as the WSJ . . .

The Internet (read: inexpensive information dissemination) comes to the notoriously informationally-challenged housing market. The WSJ reports on a new website, zillow.com, which, as the WSJ says…

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Innovation & the New Economy

Directors’ Duties Even in Solvent Firms

TOTM In the Ribstein & Alces paper mentioned below by Keith, Ribstein & Alces write… Read the full piece here. 

In the Ribstein & Alces paper mentioned below by Keith, Ribstein & Alces write…

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Financial Regulation & Corporate Governance

New antitrust blawg

TOTM It’s called Antitrust Review. It’s the result of a merger between the antitrust division of Law & Society Blog and (Anti-)Trust Me, both original members . . .

It’s called Antitrust Review. It’s the result of a merger between the antitrust division of Law & Society Blog and (Anti-)Trust Me, both original members of our ultra-exclusive blogroll. Here’s what Hanno Kaiser, one of the blog’s founders, and a friend and former colleague of mine, says about the blog…

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Antitrust & Consumer Protection

The U.S., the WTO and the absence of international law

TOTM Joel Trachtman at International Economic Law & Policy blog and Julian Ku at Opinio Juris are commenting on the role of international law in shaping . . .

Joel Trachtman at International Economic Law & Policy blog and Julian Ku at Opinio Juris are commenting on the role of international law in shaping US behavior, in this case with respect to compliance with WTO rulings.

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The costs of options expensing rules

TOTM Larry points us to a new corporate finance blog, Richard Booth’s The Quant. It looks like a great blog. The most recent post is on executive compensation–particularly . . .

Larry points us to a new corporate finance blog, Richard Booth’s The Quant. It looks like a great blog. The most recent post is on executive compensation–particularly on the serious problems of expensing options (and the FASB rule requiring it). Here’s a lengthy and informative excerpt (with a couple words from me following)…

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Financial Regulation & Corporate Governance

On disclosure: The hydraulic theory

TOTM We know that people respond to incentives, and that behavior will adjust in response to relative changes in price. But I think it’s commonly assumed . . .

We know that people respond to incentives, and that behavior will adjust in response to relative changes in price. But I think it’s commonly assumed that the only relevant price change attributable to disclosure regulations is the nominal change in direct costs of compliance. Sure, we all understand that if shareholder or regulatory pressure is brought to bear on corporate actors as a consequence of disclosure, that pressure can change behavior. But for some reason we’re unduly optimistic about this change; we just assume it will be for the better (you know, because “sunlight is a good disinfectant.” Brandeis said so).

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Financial Regulation & Corporate Governance

Taking Maytag and Whirlpool to the cleaners

TOTM Christine blogs about the Whirlpool-Maytag merger and its antitrust problems. Law Blog has the story, as well. Both mention the American Antitrust Institute which opposes . . .

Christine blogs about the Whirlpool-Maytag merger and its antitrust problems. Law Blog has the story, as well. Both mention the American Antitrust Institute which opposes (vehemently) the merger.

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Antitrust & Consumer Protection

Maybe Hamas ain’t so bad

TOTM Prof. B. writes with pronounced skepticism of and hostility to Hamas’ recent Palestinian parliamentary victory here. He sees this as a “decisive victory by a . . .

Prof. B. writes with pronounced skepticism of and hostility to Hamas’ recent Palestinian parliamentary victory here. He sees this as a “decisive victory by a terrorist organization hostile to both the US and Israel,” and asks why anyone thinks this would be a good thing. Well, he’s right as a banal descriptive matter (Hamas is, in fact, “a terrorist organization hostile to both the US and Israel”), but here’s a couple of reasons to be optimistic.

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Great. I’m dead, and they’re talking about wheat.

TOTM Apologies for my relative absence of late: my day job, and all. I know my 3 loyal readers out there (hi Mom!) were wondering about . . .

Apologies for my relative absence of late: my day job, and all. I know my 3 loyal readers out there (hi Mom!) were wondering about me. Soon, I’ll post more of substance. Meantime, here’s a little chestnut for your bedtime reading pleasure, culled from an article in the Economist.

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Innovation & the New Economy