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Antitrust and Competition

User Hesitancy Increases Online Platforms’ Incumbency Advantage

Jacques Crémer
“Incumbency advantage” among Big Tech platforms recognizes that network effects prevent users from leaving established platforms for emerging competitors. Gary Biglaiser, Jacques Crémer, and...
Commentary

What Are The Media For?

Surya Gowda
In response to ProMarket's debate about the Twitter Files and the roles of social media and traditional media, Surya Gowda argues that a more...
Democracy

Climate Change Is Shifting Voter Behavior in Low-Income Countries

Amrit Amirapu
Farmers in low-income countries have multiple channels through which they respond to climate change. Some switch to growing more heat-resilient crops or crops that...
ESG, Corporate Governance & Future of the Firm

Investing in Influence: Investors, Portfolio Firms, and Political Giving

Marianne Bertrand
A new paper examines the relationship between the rising concentration in institutional investors' ownership of publicly traded U.S. firms and portfolio companies' political giving....
Big Tech

Twitter’s Corporate Leaders Pushed their Stakeholders under the (Musk) Bus

Lucian Bebchuk
In a new study, we examine whether, in negotiating the sale to Elon Musk, Twitter’s corporate leaders took into account the commitments to employees...
Economic History

Industrial Policy From Engels to Eisenhower

Brad DeLong
Industrial policy was once so out of fashion that it was jokingly called “the policy that shall not be named.” Now it’s back in...
Democracy

Elections Hinder Companies’ Access to Credit

Florian Léon
A large body of literature has produced uncertain conclusions about how elections affect firms’ access to credit. In a wide-ranging analysis of firm behavior...
Commentary

How Financial Contracting Could Help the Police Force Manage Its Aims More Effectively

Hamid Mehran
Hamid Mehran proposes funded deferred pay, an incentive structure to mitigate the risk and costs of police misconduct. To be sure, police are doing a...
Event Notes

Event Notes: “China’s Political Economy” in Review

Andy Shi
The Stigler Center's "China Political Economy" webinar series returns Thursday, February 9. Here's a reminder of what we covered in our first four panels...
Economic History

To Build an Equitable Economy, We Must Understand Capitalism’s Racist Heritage

Elizabeth Kennedy
American capitalism was built on racial exploitation, from the enslavement of Black people to institutionalized discrimination and its structural impact on our nation’s economic...
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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.