Last Few Days to Apply to the Stigler Center’s Fellowship Program for Journalists

This 10-week program, which will take place in Chicago Booth’s Hyde Park Campus, will offer a transformative learning experience for up-and-coming journalists seeking to...

The ProMarket Monthly Roundup

The first edition of our monthly roundup that includes ProMarket posts from the previous month, as well as interesting stories from our “Weekly Briefing” section. The...

Alan Rusbridger is Gone from The Guardian, But Is There Still a Business Model for Independent Journalism?

Many people like to think of media as another market where competition drives innovation, quality, and integrity. But this is not always the case. The following...

Are Newspapers Captured by Banks? Evidence From Italy

The inaugural piece of a new ProMarket mini-paper series. Preamble In the intellectual debate there is a gap between academic papers and policy opinions, even those...

Alan Rusbridger: “The Level of Scrutiny That the Press Would Apply to its Own Failures is Minimal”

ProMarket interview: Alan Rusbridger, former editor-in-chief of The Guardian, on media capture. In 2003, Rebekah Wade (now Brooks), the former editor of the British tabloid...

What Makes M&A Reporters More Accurate?

A study by Kenneth R. Ahern and Denis Sosyura ranks M&A reporters based on their accuracy. Rumors and speculation have always been a part of...

Study: Journalists’ Fear of Appearing Biased Benefits Special Interests

New study that looks into the media coverage of climate change finds that special interest groups often take advantage of journalists’ desire to present...

The True Price of Media Capture: “We’ll Be Living in a State of Perpetual Shock and Amazement”

Journalist and media critic Dean Starkman, author of The Watchdog That Didn't Bark, speaks about capture in business media and explains how journalists missed the...

Latest news

Income Inequality May Worsen the Spread of Infectious Disease

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.

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

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. 

AI For the Antitrust Regulator

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

Creation over Time in Copyright and Patent

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.

ESG Standards’ Good, Bad and Ugly

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.


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.

A World With Far Fewer Mergers

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