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Tommaso Valletti

Tommaso Valletti is a Professor of Economics and currently heads the Department of Economics & Public Policy at Imperial College London. He was the Chief Competition Economist of the European Commission between 2016 and 2019, when he led the economic analysis on many large mergers (e.g. Bayer/Monsanto, Microsoft/LinkedIn, Siemens/Alstom), state aid, and antitrust cases (e.g. Google Android, Qualcomm exclusivity, Mastercard and VISA). He has published in the fields of industrial economics, regulation, and competition economics.
Antitrust and Competition

Structuring a Structural Presumption for Merger Review

The consumer welfare standard can’t be saved with more theory. The problem is how it works in practice, and solving that means...
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Antitrust and Competition

Understanding the Virtues of the Robinson-Patman Act Requires Understanding When It Is Most Effective

The literature on the benefits of the Robinson-Patman Act for consumer welfare is often contradictory. Professors Roman Inderst and Tommaso Valletti argue...
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Antitrust and Competition

Antitrust Enforcement, Inflation and Corporate Greed: What do we know?

At a recent Centre for Economic Policy Research (CEPR) event, panelists, including the Stigler Center's own Luigi Zingales, reflected on the roles...
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Antitrust and Competition

How to Tame the Tech Giants: Reverse the Burden of Proof in Merger Reviews

Most tech acquisitions are approved without a hitch, despite growing evidence that they bring little benefit, because regulators are waging an uphill...
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Antitrust and Competition

Why Big Tech Companies Should Engage With Academia, and Why They Don’t

“Academic engagement” of a Big Tech firm: that job should exist. But it has not happened, and it probably won’t happen, unless...
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Antitrust and Competition

“An Offer We Can’t Refuse”: How We Gave Away Our Data and Made Big Tech What It Is Today

WhatsApp’s new terms of service should come as no surprise. For years, Big Tech has been offering its users these “take it...
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Academic Capture

“Doubt is Their Product”: The Difference Between Research and Academic Lobbying

Tommaso Valletti, the former Chief Competition Economist of the European Commission, reflects on the intersection of academic economics and policymaking and offers...
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Latest news

Income Inequality

Income Inequality May Worsen the Spread of Infectious Disease

Jay Bhattacharya, Joydeep Bhattacharya, Min Kyong Kim
Income inequality may exacerbate the spread of infectious diseases. In a new paper, Jay Bhattacharya, Joydeep Bhattacharya, and Min Kyong Kim examine the relationship between income inequality and the incidence and prevalence of tuberculosis across countries.
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Antitrust and Competition

The Classic Theory of Albert O. Hirschman Argues Against the US Chamber’s Case for Non-Competes

Brian Callaci
Drawing on the theory of Albert O. Hirschman’s  Exit, Voice, and Loyalty, Brian Callaci argues non-compete clauses stifle the important channels of communication between employees and businesses necessary for improving firm competitiveness. The evidence also shows that, despite claims from businesses, non-competes harm rather than reward employees for their loyalty. 
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Antitrust and Competition

AI For the Antitrust Regulator

Cary Coglianese
Cary Coglianese lays out the potential, and the considerations, for antitrust regulators to use machine learning and artificial intelligence algorithms.
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Antitrust and Competition

Creation over Time in Copyright and Patent

Randy Picker
On May 18, the United States Supreme Court decided two intellectual property cases with two seemingly different results. A closer look, however, reveals a complimentary concern with the monopolistic power of first movers and how the legal system should enable innovation from second movers over time, writes Randy Picker.
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Event Notes

ESG Standards’ Good, Bad and Ugly

ProMarket writers
The Stigler Center for the Study of the Economy and the State hosted a virtual event discussing the standards, metrics and disclosures of investments focused on Environmental, Social and Governance (ESG) goals. The following is a transcript of the event.
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Commentary

Reregulate.

Lee Hepner, William J. McGee
Lee Hepner and William J. McGee respond to Clifford Winston’s ProMarket piece asserting that further deregulation of the airline industry would resolve problems in the industry. Instead, the authors claim a return to regulation would produce better results for travelers.
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Antitrust and Competition

A World With Far Fewer Mergers

Brooke Fox, Walter Frick
Brooke Fox and Walter Frick analyze research and ideas presented at the Stigler Center Antitrust and Competition Conference that question the value of mergers.
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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.

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