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RESEARCH

News

Firms Gerrymander Ownership of Polluting Plants to Reap Public and Regulatory Benefits

Janet Gao, Ran Duchin, Qiping Xu
New research has discovered that many companies who appear to sell, or ‘divest,’ their toxic plants, actually retain relationships with their buyers....
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Money in Politics

Characteristics and Behavior of the Rising Class of Small Campaign Donors

Laurent Bouton, Julia Cagé, Edgard DeWitte, Vincent Pons
New research on US political donations under $200 reveals characteristics of these donors as well as their motivations. A  Q&A with the...
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Inequality

Do Protests Matter At All for Shifting Government Policy Around Economic Redistribution?

Belinda Archibong
New research on the effectiveness of protests on government distributions provides insights into the political incentives of a country’s leadership and the...
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Corporate Governance

How Enlightened is Enlightened Shareholder Value?

Lucian Bebchuk, Kobi Kastiel, Roberto Tallarita
There has been growing support for replacing the traditional corporate purpose with so-called “enlightened shareholder value,” which would guide firms to consider...
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Economic History Series

Corporate Sovereigns and the Emergence of State Sovereignty: A Closer Look at the East India Company

Swati Srivastava
A new data collection has made it possible to reveal the self-sovereignty of the English East India Trading Company that produced a...
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Antitrust and Competition

New Data Shows the Rise of Corporate Concentration in the US in the Past 100 Years

Yueran Ma
New research observing 100 years of concentration in economic activities and investment in research and development shows that the dominance of large...
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Corporate Governance

Are “Bankruptcy Directors” Bad for Creditors?

Jared Ellias, Ehud Kamar, Kobi Kastiel
A new paper studies the rise of so-called “bankruptcy directors,” typically former bankruptcy lawyers, investment bankers, or distressed debt traders who join...
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News

Chart of the Week: Two-thirds of Germans Support Russian Energy Embargo

Brooke Fox
A new survey of German citizens reveals the steps they'd support to help Ukrainians and punish Russia.
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Antitrust and Competition

The Economic Costs of Common Ownership

Florian Ederer, Bruno Pellegrino
A new empirical study attempts to estimate the economy-wide welfare costs of common ownership. The authors find that they are large and...
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Corporate Governance

The Flaws and Limits of ESG-Based Compensation

Lucian Bebchuk, Roberto Tallarita
Companies increasingly use ESG metrics in their compensation packages for CEOs. A new empirical study suggests that this practice has questionable promise...
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Antitrust and Competition

Antitrust Misunderstands Innovation. This Is How We Fix It.

Ketan Ahuja
Antitrust misunderstands innovation by focusing almost entirely on incentives to innovate to the neglect of questions regarding the ability to innovate through...
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Digital Platforms

How Should the Law Tackle Rapidly Evolving Financial Technologies?

Oscar Borgogno, Giuseppe Colangelo, Cristina Poncibò
The last half-century has witnessed an explosion of technology changing how the financial landscape functions for customers and new and legacy banking...
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News

The Road to Hayek: A Comprehensive History of Neoliberalism’s Forefather

Bruce J. Caldwell, Hansjoerg Klausinger
In their first of two volumes, historians of economics Bruce Caldwell and Hansjoerg Klausinger access new archival material to explore the first...
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News

International Policymaking Must Evolve

Paul Tucker
In this Q&A about his new book for ProMarket, Paul Tucker explains the changing global order and the need for academics, policymakers...
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ESG

Capitalism Does Not Require a Tradeoff Between Planet and Profit

Alessio Terzi
Critics of capitalism claim that the economic system incorrigibly encourages the exploitation of the planet and is thus incompatible with efforts to...
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Academic Capture

Event Notes: Academic Bias Under the Microscope

Andy Shi
That scholarship often reflects conscious and unconscious biases has long been an open secret in academia. On April 22, Professors Christian Leuz,...
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Commentary

Corporations Are Not “We the People”

Geoffrey R. Stone
The Citizens United ruling contradicts the Founders, decades of Supreme Court precedent and the will of the American people.
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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.

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