Issues

Scholarly Publishing and its Discontents: An Economist’s Perspective on Dealing with Market Power and Its Consequences

Scholarly journals charge libraries high prices for access to academic articles. Activists protest such restrictions on access to knowledge. Some hoped that the Internet would improve access to academic publishing, but this effect is limited.

SIRI-OUSLY 2.0: What Artificial Intelligence Reveals about the First Amendment

Machines that can actually think are referred to as strong Artificial intelligence (AI). The First Amendment might protect speech by strong AI. Courts focused on the value of speech to listeners and the need to constrain government power will be sympathetic to this view.

The Three Laws of Robotics in the Age of Big Data

Robots are set in motion by human beings. Laws governing robots should bind the firms and governments that use robots. Those that use robots, big data, and artificial intelligence should act in good faith and take care not to harm the public.

The Aisles Have Eyes: How Retailers Track Your Shopping, Strip Your Privacy, and Define Your Power

Increasingly, retailers use technologies such as smartphone apps to track and profile shoppers are they shop in retail stores. Retailers profile consumers and treat some differently than others. Most consumers are unaware of retailers’ tracking and profiling.

The Truth about Blockchain

Transactional records are important to business, but today’s transactions are often slow and costly. Blockchain will make it possible for businesses to verify transactions cheaply and quickly. Blockchain can provide substitutes for ordinary currency and financial services.

Understanding the Consumer Review Fairness Act of 2016

The Consumer Review Fairness Act of 2016 (CRFA) bars businesses from requiring their customers to agree not to post online reviews. These “anti-review” clauses prevented consumers from leaving feedback that would identify poorly run businesses.

Loss Functions for Predicted Click-Through Rates in Auctions for Online Advertising

Online ads are usually purchased in auctions. Auction participants sometimes misestimate the likelihood that users will click on an ad, resulting in economic loss. This paper develops a new method of estimating such losses called the “empirical loss function.”

Blind Spot: The Attention Economy and the Law

Firms like Google and Facebook rely on consumer attention, a limited resource. Consumer protection laws and antitrust law assume that harm must be monetary, and do not effectively control problems that arise from unwanted intrusions on our attention.

Antitrust Provides a More Reasonable Regulatory Framework than Net Neutrality

In 2015, the Federal Communications Commission (FCC) imposed network neutrality rules on Internet Service Providers (ISPs). The rules depressed investment and harmed consumers. In 2017, the FCC started a proceeding to end net neutrality regulation.

Trust, But Verify: Why the Blockchain Needs the Law

Blockchain is an important development in information technology. Blockchain systems can be dangerous if not effectively governed, but application of rigid rules could discourage blockchain-based innovation. Blockchain systems can develop governance systems that link up with traditional legal institutions.