In late July 2022, as the Inflation Reduction Act was being finalized, a provision limiting the carried interest preference, which allows billionaire hedge fund managers to qualify for the long-term capital gains rate on their highly lucrative “carry,” was scrapped. This continued a string...

Major competition regulators, and substantial portions of the scholarly community, have rapidly adopted the view that “killer acquisitions” and “kill zones” constitute significant sources of competitive risk arising from incumbent acquisitions of emerging firms in digital markets. Based...

A robust literature describes the incentives and stewardship practices of the “Big Three” asset managers (BlackRock, Vanguard, and State Street Global Advisors), often referring to these asset managers as “passive.” This is so common that the “Big Three,” “index fund,” and...

Accompanying slide presentation available at http://ssrn.com/abstract=4019705Pigouvian taxes are often used to limit environmental externalities such as pollution. We argue that consumer contracts generate externalities by overwhelming consumers’ attention. Depleting each consumer’s...

Competition policy generally prohibits coordination among buyers or sellers, especially coordination on price, price-related inputs, and output. In licensing markets for standard-essential patents (“SEPs”), it has been periodically proposed that this rule should be relaxed to permit the...

Children screened for sexual abuse are typically asked about touch, but their understanding of the meaning of touch has received little direct study. We asked 4- to 9-year-old children (N = 122; M = 6.00, SD = 1.49; 43% male) Yes-No questions (“Is the boy/girl touching the girl/boy?”/“Are the...

The traditional view in corporate governance, shareholder primacy, holds that boards and executives should manage corporations with a single-minded focus on increasing financial returns to shareholders. By contrast, advocates of Environmental, Social and Governance (ESG) criteria and stakeholder...

It is widely assumed that platform technology markets are inherently prone to converge on monopoly outcomes in which a single firm or a handful of firms enjoy market power due to a combination of network effects and switching costs. This assumption supports both proposed and enacted regulatory...

In the United States and many other countries, a legal divide occurs at the coast. Management authorities, for example, often change somewhere in the vicinity of the high tide line. However, in most cases, freshwater flows into saltwater. This connection has always been vital to trade and...

Water quality regulation—the laws and policies that seek to prevent or limit pollution of waterbodies and drinking water—vary across a number of structural features and substantive goals and purposes. The focus of water pollution law, for example, can be ambient water quality or sources of...