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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)

Big Tech

AI Is Coming for the Economic Consulting Industry

Mona Birjandi
Artificial intelligence will change the market for economic consultants, likely reducing overall demand and shifting workers to current clients’ in-house units. However, both consulting firms and clients are still studying how to deploy AI, and there may yet be new opportunities for consultants as AI changes the broader economy, write Mona Birjandi and Mery Zadeh.
Antitrust and Competition

A Merger Between United and American Airlines Is Likely To Substantially Lessen Competition

Ratib Ali
Ratib Ali analyzes whether a merger between United and American Airlines would pass merger review according to the 2023 Merger Guidelines and finds that under multiple market definitions, it would substantially lessen competition.
Antitrust and Competition

Reverse Acquihires Reveal Antitrust’s Need To Update Its Conceptual Understanding of Hiring

Hannah Pittock
Hannah Pittock argues that current analysis of reverse acquihires misses the core conceptual debate over antitrust’s antiquated treatment of hiring as benign vertical agreements between the laborers (the supplier) and employers (the buyer), in which labor is treated as one input among many.
Antitrust and Competition

The Antitrust Risks of Anthropic’s Project Glasswing and the ‘AI Avengers’

Madhavi Singh
Anthropic has formed an exclusive artificial intelligence consortium to use its general purpose artificial intelligence model, Claude Mythos, to identify and fix vulnerabilities in critical internet and digital infrastructure. Madhavi Singh warns this consortium, called Project Glasswing, could contravene antitrust law and argues for regulatory oversight to ensure that it does not become a front for an illegal cartel.
Antitrust and Competition

How the Professionalization of College Sports Changed Who Wins

Diana L. Moss
The House v. NCAA private antitrust settlement professionalized collegiate sports by requiring colleges and universities to compensate student athletes. The case has changed the economics of college sports, pushing schools to spend big to pay for top athletes to field teams that compete for championships. New research from the Progressive Policy Institute finds that although the new model has narrowed success to the top programs, the ability for schools to pay for success has now been mostly priced in, writes Diana L. Moss.
Commentary

Market Failure, Not Technology, Is Slowing the Green Transition

Piergiuseppe Fortunato
The green transition is faltering in both advanced and developing economies. While politics and market risk is stalling private investment in clean energy in advanced economies, an imbalanced global value chain is preventing investment in clean energy in developing countries, write Piergiuseppe Fortunato and Verena Hitner Barros.
Commentary

Chinese Car Exports to the EU Exemplify the Role of Data and IP in Trade Relations

Oscar Borgogno
Chinese automotive manufacturers gain a competitive edge through laxer rules governing personal data protection and intellectual property. Oscar Borgogno and Giovanni Veronese argue that ensuring effective compliance with European law could help European manufacturers re-establish a level playing field while upholding EU constitutional values.
Antitrust and Competition

India’s AI Market Regulation Risks Falling on Dated Ideas

Abhineet Nayyar
India is working on legislating new competition rules to govern artificial intelligence and other tech markets. But recommendations from a recent report by the Competition Commission of India suggest it might revert to old competition standards that will likely prove ineffectual in governing the new AI market, writes Abhineet Nayyar.
Antitrust and Competition

China’s New “Safe Harbor” Antitrust Rules Offer Less Safety Than Suggested

Yin Hu
China’s new safe harbor rules for vertical dealing, including practices like resale price maintenance hitherto presumed generally anticompetitive, are less accommodating than they may seem, writes Yin Hu.
Antitrust and Competition

The Warner Bros. Discovery Bidding War Shows Antitrust Enforcement Still Works

Sean D. Reyes
Antitrust agencies were right to suspect that Netflix’s bid for Warner Bros. Discovery would have harmed consumers, content creators, and rival streaming platforms. They needed the consumer welfare standard to show how, writes Sean D. Reyes.
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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.