Nhl Suspends Torres for Hossa Hit; Have We Achieved Incentive Compatibility?

Lynne Kiesling This year’s NHL Stanley Cup playoffs are in the first round, and so far the violence has been horrific: “The most vicious and, perhaps, disgraceful first round of the Stanley Cup playoffs” was the verdict of Stu Hackel, the former director of broadcasting for the N.H.L., and this is now close to a … More Nhl Suspends Torres for Hossa Hit; Have We Achieved Incentive Compatibility?

Aig-Ency Problems

Michael Giberson At the Streetwise Professor, Craig Pirrong finds that the current political flap over AIG bonuses well illustrates the value of rules over discretion. His conclusion matches my view: “Several hundred million dollars is a lot of money.  But it pales in comparison to the amount that would be lost by undermining contracts and … More Aig-Ency Problems