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Commentary

An outlet for insiders to speak freely (as they remain anonymous to the reader) on what they perceive as problematic practices in their own industry – with an emphasis on how the industry tweaks the rules of the game and captures regulation.
“People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices. It is impossible indeed to prevent such meetings, by any law which either could be executed, or would be consistent with liberty and justice.” Adam Smith – An Inquiry into the Nature and Causes of the Wealth of Nations (1776)

Antitrust and Competition

Towards a More Complete Understanding of Market Power and Consumer Harm in Antitrust Law

Francisco Beneke
Antitrust law currently tends to disregard non-consumer harms and the potential influence of companies on policymaking. A new paper explores how antitrust law can...
Antitrust and Competition

Populism at the FTC Upsets the Antitrust Religion of Consumer Welfare: A Reply to Sokol and Wickelgren

Darren Bush
Institutional change, on any fundamental level, will have those that seek to defend the status quo up in arms. But in order to effectively...
Antitrust and Competition

Facebook’s Responses to Criticism Sound Too Good to Be True

David Carroll
The Facebook Papers show how Facebook’s relentlessly positive and defiant PR messaging is not plausible anymore. Hence, a rebrand. It sounds too good to be...
Antitrust and Competition

How Big Data Fuels Big Tech’s Anticompetitive Conduct and Gatekeeping Power

Charlotte Slaiman
Achieving a truly open internet is only possible through robust online competition free from the control of today’s digital gatekeepers like Facebook and Google....
Antitrust and Competition

Missing the Forest for the Trees: A Reply to Hovenkamp and Shapiro

Hal Singer
The Federal Trade Commission’s now-abandoned 2020 Vertical Merger Guidelines were not some ideal economic document that the FTC foolishly disregarded; rather, they failed spectacularly...
Antitrust and Competition

How Will the FTC Evaluate Vertical Mergers?

Carl Shapiro
The Federal Trade Commission’s recent withdrawal of its 2020 vertical merger guidelines is flatly incorrect as a matter of microeconomic theory and is contrary...
Commentary

The Costs of Political Misalignment: Forest Fires and Bank Loans in Turkey

Orkun Saka
Recent wildfires in Turkey have not only destroyed more than 95,000 hectares of its coastal forestland but also divided the country further into its...
Antitrust and Competition

Antitrust Enforcement Is Not Enough to Address Anticompetitive Conduct in Pharmaceutical Markets. Market-Oriented Legal Reform is Needed.

Alden Abbott
Federal antitrust enforcement has been robust and effective in promoting prescription drug market competition and thereby enhancing consumer welfare. Antitrust enforcement in itself, however,...
Antitrust and Competition

Competition Problems in Prescription Drug Market

Michael Kades
Although not the sole cause of high prescription drug costs, abusive practices that distort competition contribute to the problem. Too many companies exclude competition...
Antitrust and Competition

The Profit Paradox: A New Approach to Competition and Market Power

Simcha Barkai
Jan Eeckhout’s recent book The Profit Paradox is a serious attempt to explain rising market power and its implications to a wider audience. While...
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ProMarket is dedicated to discussing how competition tends to be subverted by special interests. The posts represent the opinions of their writers, not necessarily those of the University of Chicago, the Booth School of Business, or its faculty. For more information, please visit ProMarket Policy.