type here...

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)

Commentary

Reputation-Seeking Investors Can Impose Costs on Fellow Shareholders

Michele Fioretti
In new research, Michele Fioretti, Victor Saint-Jean, and Simon Smith show that shareholders with potential reputational gains will push for corporate actions in the face of shocks like Covid-19 or the Russian invasion of Ukraine that reduce returns to other shareholders who have no reputational gains at stake.
Antitrust and Competition

Regulating the Digital Network Industry

Jasper van den Boom
Jasper van den Boom provides a synopsis of his new book, Regulating Competition in the Digital Network Industry, which comes out at Cambridge University Press in December. The book can be pre-ordered here.
Antitrust and Competition

Content Licensing Agreements Will Concentrate Markets Without Standardized Access

Christian Peukert
Christian Peukert argues that the market for licensing content from copyright owners like newspapers or online forums requires a standardized regime if access to this data, used to train artificial intelligence models, is to remain available for more than just the largest AI firms. A failure to maintain non-discriminatory access will result in the consolidation of both the AI and content production markets.
Antitrust and Competition

Novo Nordisk’s Offer To Acquire Metsera Constitutes Attempted Monopolization

Hannah Pittock
Hannah Pittock uses weight-loss company Novo Nordisk’s offer to acquire Metsera to create a three-prong framework by which the antitrust agencies can identify when an invitation to exclude a rival from a market constitutes illegal exclusionary conduct under Section 2 of the Sherman Act.
Commentary

Why the Controversy Behind ExxonMobil’s New Retail Voting Program?

Andy Shi
ProMarket Managing Editor Andy Shi reviews the controversy behind ExxonMobil’s new voting program and how it falls into the broader debates over recent developments to shareholder democracy and corporate governance.
Commentary

The Economics of Zohran Mamdani

Nikolaos Chatzarakis
Nikolaos Chatzarakis reviews some of the key economic platforms of New York City Mayor-elect Zohran Mamdani. He argues that Mamdani’s platform is ambitious but not unrealistic, and that criticisms of it often rely on simplistic models and theory. Still, there remain areas for improvement.
Antitrust and Competition

How Should We Address the Amazon Web Services Outage?

Roslyn Layton
Roslyn Layton examines the recent Amazon Web Services outage and compares it with last year’s CrowdStrike outage to illustrate differences in scope, responsibility, and systemic impact. She argues that cloud providers should contribute to the Universal Service Fund, ensuring financial contribution to resilience and critical infrastructure for essential services.
Antitrust and Competition

Novo Nordisk’s Killer Non-Acquisition Merger Contract Proposal Is a Case of “Heads I Win, Tails You Lose”

Steven Salop
Steve Salop explores the anticompetitive innovation behind weight-loss giant Novo Nordisk’s offer to acquire Metsera. Novo’s proposed contract presents a new tactic by which firms with market power can preclude rival mergers that will lead to procompetitive entry.
Capture

Why Have We Failed To Limit the Corruption of Global Capital?

Richard Messick
Richard Messick summarizes the output of last April’s Global Capitalism, Trust, and Accountability Conference, co-sponsored by the Stanford Graduate School of Business and the Center on Democracy, Development and the Rule of Law. Participants explored the mechanisms of international corruption and how citizens, states, and the international community can address them.
Antitrust and Competition

How Google Revenue-Sharing Payments Contribute to Apple’s Monopoly Power

Steven Salop
The Google Search monopoly case focused on how Google’s agreements with Apple to set Google Search as the exclusive default search engine on Apple’s mobile devices allowed Google to solidify its monopoly in internet search. However, a less-explored dimension of these agreements is how they likewise fortified Apple’s monopoly power in the smartphone market, writes Steven C. Salop.
123...50Page 1 of 50

Latest news

View All

The publication of the Stigler Center at The University of Chicago Booth School of Business

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.