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Articles 1 - 7 of 7

Full-Text Articles in Law

Standards Ownership And Competition Policy, Herbert J. Hovenkamp Mar 2006

Standards Ownership And Competition Policy, Herbert J. Hovenkamp

Faculty Scholarship at Penn Law

Antitrust law is a blunt instrument for dealing with many claims of anticompetitive standard setting. Antitrust fact finders lack the sophistication to pass judgment on the substantive merits of a standard. In any event, antitrust is not a roving mandate to question bad standards. It requires an injury to competition, and whether the minimum conditions for competitive harm are present can often be determined without examining the substance of the standard itself.

When government involvement in standard setting is substantial antitrust challenges should generally be rejected. The petitioning process in a democratic system protects even bad legislative judgments from collateral ...


The Law Of Exclusionary Pricing, Herbert J. Hovenkamp Jan 2006

The Law Of Exclusionary Pricing, Herbert J. Hovenkamp

Faculty Scholarship at Penn Law

The success of the Areeda-Turner test for predatory pricing and the Supreme Court's adoption of demanding proof requirements in its 1993 Brooke Group decision have made it very difficult for plaintiffs to win conventional predatory pricing claims. While many challenges to exclusionary pricing continue to be made, the legal theory has evolved away from classical predation to a variety of other theories. These include challenges to quantity and market share discounts, single item and package discounts, and various purchasing practices, including slotting fees, overinvestment in fixed cost assets, and overbuying of variable cost inputs. Plaintiffs have enjoyed somewhat greater ...


The Essential Role Of Securities Regulation, Zohar Goshen, Gideon Parchomovsky Jan 2006

The Essential Role Of Securities Regulation, Zohar Goshen, Gideon Parchomovsky

Faculty Scholarship at Penn Law

No abstract provided.


The Uselessness Of Public Use, Abraham Bell, Gideon Parchomovsky Jan 2006

The Uselessness Of Public Use, Abraham Bell, Gideon Parchomovsky

Faculty Scholarship at Penn Law

No abstract provided.


Making Visible The Invisible: Strategies For Responding To Globalization's Impact On Immigrant Workers In The United States, Sarah Paoletti Jan 2006

Making Visible The Invisible: Strategies For Responding To Globalization's Impact On Immigrant Workers In The United States, Sarah Paoletti

Faculty Scholarship at Penn Law

No abstract provided.


The Equilibrium Content Of Corporate Federalism, William W. Bratton, Joseph A. Mccahery Jan 2006

The Equilibrium Content Of Corporate Federalism, William W. Bratton, Joseph A. Mccahery

Faculty Scholarship at Penn Law

No abstract provided.


Regulatory Responses To Investor Irrationality: The Case Of The Research Analyst, Jill E. Fisch Jan 2006

Regulatory Responses To Investor Irrationality: The Case Of The Research Analyst, Jill E. Fisch

Faculty Scholarship at Penn Law

An extensive body of behavioral economics literature suggests that investors do not behave with perfect rationality. Instead, investors are subject to a variety of biases that may cause them to react inappropriately to information. The policy challenge posed by this observation is to identify the appropriate response to investor irrationality. In particular, should regulators attempt to protect investors from bad investment decisions that may be the result of irrational behavior?

This Article considers the appropriate regulatory response to investor irrationality within the concrete context of the research analyst. Many commentators have argued that analyst conflicts of interest led to biased ...