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TOTM Law students, I have found, often have a hard time seeing how the Coase Theorem applies outside the context of land use conflicts. They also . . .
Law students, I have found, often have a hard time seeing how the Coase Theorem applies outside the context of land use conflicts. They also tend to think Coase’s insight is not so important because, they recite (parroting some of their professors), “Transactions costs are always present.” This saddens me, for the more I look at the law, the more relevant the theorem becomes.
Read the full piece here.
TOTM There is some antitrust buzz in the air after Steve Job’s “Thoughts on Music,” which discussed the possibility of eliminating DRM entirely. The real antitrust . . .
There is some antitrust buzz in the air after Steve Job’s “Thoughts on Music,” which discussed the possibility of eliminating DRM entirely. The real antitrust story, I suspect, is whether the rather transparent attempt to shift the gaze of regulators fixated on the iPod/iTunes combo to the big four’s “refusal” to go DRM-free will have any success. Antitrust Review has covered these issues at length, and Randy Picker chimes in as well. So does Frank Pasquale , who applauds the Norwegian antitrust attack on Apple and suggests that Apple adopt a “true interoperability” approach which “would likely lead to a boom in the sale of both digital music players and music.”
TOTM Everyone is talking about Steve Jobs’ open letter on DRM,”Thoughts on Music,” including, best among all of them, my colleague, Josh. Among many others, see . . .
Everyone is talking about Steve Jobs’ open letter on DRM,”Thoughts on Music,” including, best among all of them, my colleague, Josh. Among many others, see excellent entries from Jim DeLong, Randy Picker and Mike Madison. Frank Pasquale weighs in with a predictable post about how wonderful the world would be if we just regulated his (perfect) vision of the world, but Josh pretty handily skewers his musings.
TOTM Representative Kucinich has announced that the House Oversight and Government Reform Domestic Policy Subcommittee will be launching an investigation into “a variety of marketplace issues . . .
Representative Kucinich has announced that the House Oversight and Government Reform Domestic Policy Subcommittee will be launching an investigation into “a variety of marketplace issues including monopolies in the grocery industry.” HT: AntitrustProf Blog. Hearings are apparently tentatively scheduled for mid-month. What is the committee looking for? Just about anything.
TOTM Securities fraud class-actions are down. In an op-ed in yesterday’s WSJ, Joseph Grundfest observed that both the number of such actions and the dollar value . . .
Securities fraud class-actions are down. In an op-ed in yesterday’s WSJ, Joseph Grundfest observed that both the number of such actions and the dollar value of total damages claims have dropped dramatically since mid-2005. Why has this decline occurred? Grundfest considers several possible reasons.
TOTM This piece by my colleague Tom Hazlett is really the best thing I’ve read online all week and has been getting some attention across the . . .
This piece by my colleague Tom Hazlett is really the best thing I’ve read online all week and has been getting some attention across the blogosphere (see, e.g., here and here) and I’m happy to contribute by posting Hazlett’s characteristically powerful punchline…
TOTM The recent State of the Union address, in which President Bush called for an almost 500% increase in alternative fuel consumption by 2017, once again . . .
The recent State of the Union address, in which President Bush called for an almost 500% increase in alternative fuel consumption by 2017, once again turned the nation’s attention to the various elixirs that promise to make the U.S. “energy independent.” The closer we look, though, the less appealing the leading alternative fuel — ethanol — appears to be.
TOTM I have had occasion to think about the relationship between property rights and barriers to entry lately, and was reminded of the following line which . . .
I have had occasion to think about the relationship between property rights and barriers to entry lately, and was reminded of the following line which I thought well worth posting on its own…
TOTM Libertarian paternalism, behavioral law and economics, and “soft” paternalism are topics of discussion here on TOTM from time to time (see, e.g. here, here, and . . .
Libertarian paternalism, behavioral law and economics, and “soft” paternalism are topics of discussion here on TOTM from time to time (see, e.g. here, here, and here). Two very good economists who think about these problems quite a bit, Mario Rizzo (NYU) and Glen Whitman (Agoraphilia, CSUN), have posted their paper “Paternalist Slopes.”
