ProMarket writers

Stigler Center Talk: Robert Bilott on How to Protect Our Drinking Water

The lawyer who has been dubbed "DuPont's Worst Nightmare" will discuss the legal, regulatory, political, and scientific challenges of addressing unregulated chemical contaminants in drinking...

Campaign Financing Capture Index: Candidates on Fundraising Spree Attract Millions from Big Donors

With Marco Rubio out of the race, Ted Cruz is now the candidate with the largest fraction of political contributions over $5,000. Before dropping...

Stigler Center Survey Reveals: Majority of Americans Concerned About the Influence of Campaign Donors on Candidates

Survey: 57 percent of Americans believe candidates who take money from big businesses, unions and special interest groups are under their control. In the past...

Is Fraud in the Financial Sector a “Bug” or a “Feature”?

Study: 7 percent of financial advisers have misconduct records - 44 percent are hired within a year. A new paper by Mark Egan, Gregor Matvos...

Campaign Financing Capture Index

The first part of the new project by the Stigler Center on the influence of money on politics: of the remaining presidential candidates, Marco...

Stigler Fellow of the Month: Beyond the Traditional Capture Theory

Harvard Business School's Rafael Di Tella is "Stigler Fellow of the Month". He talks about how any theory of regulation should consider the roles...

Study: Politically Connected Private Equity Firms Hire More, Fire Less in Order to Help Incumbent Politicians

Private equity firms are not often associated with job gains. A new paper by Mara Faccio and Scott Hsu reveals the political dynamics that lead...

Latest news

Revising the Merger Guidelines To Return Antitrust to a Sound Economic and Legal Foundation

The draft Merger Guidelines largely replace the consumer welfare standard of the Chicago School with the lessening of competition principle found in the 1914 Clayton Act. This shift would enable the Federal Trade Commission and Department of Justice Antitrust Division to utilize the full extent of modern economics to respond to rising concentration and its harmful effects, writes John Kwoka.

How Anthony Downs’s Analysis Explains Rational Voters’ Preferences for Populism

In new research, Cyril Hédoin and Alexandre Chirat use the rational-choice theory of economist Anthony Downs to explain how populism rationally arises to challenge established institutions of liberal democracy.

The Impact of Large Institutional Investors on Innovation Is Not as Positive as One Might Expect

In a new paper, Bing Guo, Dennis C. Hutschenreiter, David Pérez-Castrillo, and Anna Toldrà-Simats study how large institutional investors impact firm innovation. The authors find that large institutional investors encourage internal research and development but discourage firm acquisitions that would add patents and knowledge to their firms’ portfolios, hampering overall innovation.

The FTC Needs To Focus Arguments on Technological Transitions After High-Profile Losses

Joshua Gray and Cristian Santesteban argue that the Federal Trade Commission's focus in Meta-Within and Microsoft-Activision on narrow markets like VR fitness apps and consoles missed the boat on the real competition issue: the threat to future competition in nascent markets like VR platforms and cloud gaming.

We Need Better Research on the Relationship Between Market Power and Productivity in the Hospital Industry

Antitrust debates have largely ignored questions about the relationship between market power and productivity, and scholars have provided little guidance on the issue due to data limitations. However, data is plentiful on the hospital industry for both market power and operating costs and productivity, and researchers need to take advantage, writes David Ennis.

Debating the Draft Merger Guidelines: Transcript

On September 7, the Stigler Center hosted a webinar to discuss the draft merger guidelines. What follows is a slightly edited transcript of the event.

Holding Up the News

Meta has silenced news organizations’ social media accounts in response to Canada’s Online News Act, a law not yet in effect. Josh Braun describes the reasoning behind such legislation, its potential flaws, and how Meta, particularly Facebook, has turned the Canadian wildfire crisis into a regulatory pressure campaign.