Research

How the AT&T Case Can Inform Big Tech Breakups

Breaking up companies that antitrust regulators consider too dominant can be costly and might negatively impact innovation and consumer welfare. As economists and policymakers...

A New Merger Tool Protects Consumers from Limits of the Cournot Effect

The widely accepted Cournot effect assumes that the merger of complementary firms benefits downstream firms and consumers (in addition to the merged firms themselves)...

User Hesitancy Increases Online Platforms’ Incumbency Advantage

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

Climate Change Is Shifting Voter Behavior in Low-Income Countries

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...

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

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....

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

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...

Elections Hinder Companies’ Access to Credit

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...

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

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...

More than Economics, Ideology Determines US Voters’ Preferences for Redistribution

The US stands out among developed economies for its comparatively low level of redistribution as a percentage of GDP. Gustavo de Souza examines the...

Stakeholder Motivations for “Private Sanctions” Against Russia

As the war in Ukraine enters its second year, a new study measures stakeholders’ desire to see their firms exit Russia and how these...

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