News

In new research, David Gindis and Steven G. Medema trace Henry Manne’s entrepreneurial role in the development of the field of law and economics, beginning with a failed venture to bring together economists and legal scholars, but one that established the foundations for later success.

In new research, Adam Callister, Andrew Granato, and Belisa Pang argue that differing incentives faced by plaintiffs and defendants in “battles of the experts” litigation (like securities suits) leads to structurally higher spending by defendants on expert witnesses. These incentives also apply to any class action suit and many individual suits. They argue that courts should take this dynamic into account and correspondingly be more aggressive in using authority to employ court-appointed experts.

Fabio De Pasquale, a prosecutor at the Milan prosecutor’s office who led the investigation into energy conglomerates Eni and Shell for their alleged involvement...

Some have argued that environmental, social, and governance (ESG) ratings are generally more reliable than credit ratings due to how the raters are paid for their work. In new research, Suhas Sridharan and coauthors find that significant conflicts of interest can arise for ESG raters when they also provide ESG index funds to investors.

Eli Orbach examines how the United States’s decentralized education system impedes the diffusion and adoption of generative artificial intelligence in K-12 schools. Slow and uneven diffusion will exacerbate current socioeconomic inequalities, harm students’ future work prospects, and impede macroeconomic growth and productivity.

Luke Herrine evaluates the Federal Trade Commission’s transformation into a political tool to advance a conservative social agenda. He argues that no FTC initiative better exemplifies the agency’s politicization than its investigation into gender-affirming care that threatens transgender rights and autonomy.

In new research, Dominic Smith and Sergio Ocampo show that retail concentration has increased in most markets across the United States, with the expansion of large retail chains driving the trend toward a more concentrated retail landscape. Their findings are based on new product-level census data for all U.S. retailers. They explain the implications of this increased concentration for the everyday shopping experience of clothing, electronics, groceries, and much more.

The following is an adapted excerpt from “Monopoly Politics: Competition and Learning in the Evolution of Policy Regimes” by Erik Peinert, now out at Oxford University Press. 

South Korea’s proposed Online Platform Regulation Act has taken multiple turns amid political upheaval, pressure from the United States, and a fiercely competitive domestic tech market. Hwang Lee explores how global geopolitics, strong domestic platforms, and the "Brussels Effect" are reshaping the country’s approach to digital regulation.

Corporations can sidestep prosecution by cooperating with the government and offering up employees to avoid their own criminal liability. Ellen S. Podgor discusses two prominent reasons why the current approach to corporate criminality is inefficient.