Sergiu Hart
Sergiu Hart is a professor emeritus of economics and mathematics at the Hebrew University of Jerusalem, with previous appointments at Stanford University, Tel Aviv University, and Harvard University. He is a member of the multidisciplinary Federmann Center for the Study of Rationality of the Hebrew University of Jerusalem, for which he served as the founding director from 1991 to 1998. He was elected Fellow of the Econometric Society in 1984, Member of the Israel Academy of Sciences in 2006 (he is currently the Chair of its Humanities and Social Sciences Division), Member of Academia Europaea in 2012, and International Honorary Member of the American Academy of Arts and Sciences in 2016. He served as President of the Game Theory Society in 2008-2010, and was awarded the Rothschild Prize in the Social Sciences in 1998, the Israel Prize in Economics and Statistics in 2018, and the ACM SIGecom (Economics and Computation) Test of Time Award in 2020. His more than 50 years of research span diverse topics in game theory, mathematics, economics, computer science, and statistics.
Democracy
Repeat Voting: A Simple Way To Get More Representative Results
Democratic elections suffer from several shortcomings, including low voter turnout and the effects of inaccurate polling. Sergiu Hart suggests adopting a simple...
Latest news
Antitrust and Competition
The Kroger-Albertsons Merger Threatens Smaller Upstream Suppliers
Much of the conversation of the proposed Kroger-Albertsons merger has focused on the risks to consumers. However, the merger also poses serious implications for the grocers’ upstream suppliers, particularly smaller regional firms.
Regulation
Why Have Uninsured Depositors Become De Facto Insured?
Due to a change in how the FDIC resolves failed banks, uninsured deposits have become de facto insured. Not only is this dangerous for risk in the banking system, it is not what Congress intends the FDIC to do, writes Michael Ohlrogge.
Antitrust and Competition
Merger Law Reaches Acquirer Incentives and Private Equity Strategies
Steven C. Salop argues that Section 7 of the Clayton Act prohibits mergers in which the acquiring firm’s unilateral incentives and business strategy are likely to lessen market competition.
Antitrust and Competition
Tim Wu Responds to Letter by Former Agency Chief Economists
Former special assistant to the president for technology and competition policy Tim Wu responds to the November 27 letter signed by former chief economists at the Federal Trade Commission and Justice Department Antitrust Division calling for a separation of the legal and economic analysis in the draft Merger Guidelines.
Book Reviews
Can the Public Moderate Social Media?
ProMarket student editor Surya Gowda reviews the arguments made by Paul Gowder in his new book, The Networked Leviathan: For Democratic Platforms.
Income Inequality
Uninhibited Campaign Donations Risks Creating Oligarchy
In new research, Valentino Larcinese and Alberto Parmigiani find that the 1986 Reagan tax cuts led to greater campaign spending from wealthy individuals, who benefited the most from this policy. The authors argue that a very permissive system of political finance, combined with the erosion of tax progressivity, created the conditions for the mutual reinforcement of economic and political disparities. The result was an inequality spiral hardly compatible with democratic ideals.
ESG, Corporate Governance & Future of the Firm
Did the Meme Stock Revolution Actually Change Anything?
Many financial commentators thought that the surge of retail investors participating in the stock market, the most notable of whom boosted “meme stocks” like GameStop, would democratize corporate governance and improve prosocial firm behavior, including the promotion of environmental, social, and governance (ESG) goals. In new research, Dhruv Aggarwal, Albert H. Choi, and Yoon-Ho Alex Lee find evidence that the exact opposite took place.
