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The Role of the State

Antitrust and Competition

The Durable Impact of Stigler’s Theory of Economic Regulation

Sam Peltzman
George Stigler’s “The Theory of Economic Regulation” was an early application of public choice reasoning to a practical problem—the work of regulatory agencies. It...
Antitrust and Competition

Rethinking Competition: From Market Failures to Ecosystem Failures

Michael G Jacobides
Despite the overwhelming importance of digital platforms, and the chatter around their recent rise, our understanding of digital ecosystems is still limited. As such,...
Antitrust and Competition

Chinese Antitrust 2.0: Why Is China Going After Its Big Tech?

Jana Kasperkevic
In an interview with ProMarket, Angela Huyue Zhang, author of a new book Chinese Antitrust Exceptionalism, discusses the motivations behind the recent antitrust investigations...
Antitrust and Competition

Preventing Drug Shortages and Saving Lives: The Role of Quality and Reliability Standards

Rena Conti
Prescription drug shortages have become more common in recent years, interrupting usual medical care and increasing patient risk and system costs, but they are...
Antitrust and Competition

Facebook Break-up Can Be Feasible, Efficient, and Ultimately Beneficial to Consumers

Paolo Buccirossi
Is the relief sought by the FTC in its case against Facebook the right way to go? In principle, yes. However, the FTC might...
Antitrust and Competition

A Simple Way to Measure Tipping in Digital Markets

Nicolas Petit
Digital markets are prone to “tipping.” Policymakers are starting to look at tipping as a market failure worthy of consideration. But as much as...
Antitrust and Competition

Revisiting Ohio vs. American Express: It’s Time for a More Nuanced Approach to Market Definition

Caio Mario da Silva Pereira Neto
Nearly three years ago, the Supreme Court decided the case of Ohio vs. American Express, which turned out to be one of the most...
Antitrust and Competition

Competition for Extortion: Evidence from 50,000 Extortion Payments in El Salvador

Zach Y. Brown
A new paper explores how truce deals between gangs are equivalent to collusion, and result in higher extortion prices that have negative consequences for...
Antitrust and Competition

“Power Is Evil in Itself”: The Ordoliberal Quest for a Privilege-Free Order

Stefan Kolev
The lesson from the quest of German ordoliberals for a privilege-free order from the 1930s to the 1950s is that once in motion, the...
Antitrust and Competition

Green Antitrust: Why Would Restricting Competition Induce Sustainability Efforts?

Maarten Pieter Schinkel
While “green” antitrust is gaining momentum, its key premise—that restricting competition would incentivize companies to jointly take more sustainability initiatives—finds little or no ground...
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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.