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Research

Money in Politics

Carl Schmitt and the Origins of Friedrich Hayek’s Thought on Rent-Seeking

Daniel Nientiedt
Friedrich Hayek viewed the subject of rent-seeking not from the usual welfare economics perspective, but from a constitutional economics perspective. In a new paper,...
Democracy

Mathematical Flaws in Ranked Choice Voting Are Rare but Real

David McCune
A political movement in the U.S. is encouraging municipalities and states to adopt ranked choice voting as a supposedly more representative voting method. In...
Money in Politics

Defense Contracts Are Going to the Best Connected, Not Necessarily the Best

Şenay Ağca
In new research, Şenay Ağca and Deniz Igan use the shock of the September 11 attacks and declaration of war on Afghanistan to show...
Regulation

Defer Bank Management’s Compensation for Times of Crisis

Hamid Mehran
Adopting a deferred pay scheme for bank managers would provide them with needed funding during a downturn and would incentivize more conservativism when it comes to risk-taking.
Antitrust and Competition

Fair Treatment of Consumers at Any Price?

Walter Beckert
Many scholars and policymakers have suggested regulating firms’ ability to price discriminate between consumers when they operate in a market prone to inactive users,...
Income Inequality

Children of Workers Impacted by Automation Are More Likely To Experience Lower Income Mobility

Fredrik Heyman
A new empirical study examines whether advancements in automation and robotics have affected intergenerational income mobility. The authors find that parents’ exposure to new...
Democracy

Repeat Voting: A Simple Way To Get More Representative Results

Sergiu Hart
Democratic elections suffer from several shortcomings, including low voter turnout and the effects of inaccurate polling. Sergiu Hart suggests adopting a simple repeat voting...
Regulation

Gambling for Resurrection: How U.S. Banks Hedged Interest Rate Risk During 2022 Monetary Tightening

Amit Seru
Following a widely cited report on unrecognized bank losses due to interest rate rises, Amit Seru and his co-authors have taken a close look...
Democracy

Different Voting Methods Produce Different—and More Accurate—Results

Aaron Hamlin
There is a significant ongoing debate in the United States on the merits of plurality voting (how most American elections are conducted) and how...
Monetary Policy

Resolving the Banking Crisis

Peter DeMarzo
Following up their recent analysis of risk in the banking system, DeMarzo, Jiang, Krishnamurthy, Matvos, Piskorski and Seru argue that banks should be required...
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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.