Bitcoin

A Founder of the Blockchain Discusses New Research on Inherent Limitations to Bitcoin

In the latest Stigler Center working paper, Chicago Booth's Eric Budish argues that game-theoretic constraints imply there are "intrinsic economic limits to how economically...

Does the Growth of Bitcoin Have Anything to Do with Distrust of Government?

The results of the latest Financial Trust Index (FTI) survey, released last week by Chicago Booth and the Northwestern’s Kellogg School of Management, offer...

Where Will the Crypto Craze Lead? A Venture Capitalist’s View

Can individual cryptocurrencies be programmed with stability in mind and if so, could a plethora of cryptocurrencies exhibit, in the aggregate, stable behaviors?     By now,...

"The Blockchain Is Going to Revolutionize Central Banking and Monetary Policy"

Will governments start using central banks to issue sovereign currency on blockchains? And if so, will that be the end of the fractional reserve...

Blockchains and Corporate Finance: “In a Blockchain Market, Shareholder Activists Might Play Much Less of a Role”

Will blockchain technology lead to less shareholder activism and higher executive compensation? Watch David Yermack’s full Stigler Center lecture on the potential implications of blockchain...

"I Expect That Within the Next 10 Years, Probably Half of the Banks Will be Gone”

Watch David Yermack's full Stigler Center lecture on the potential implications of blockchain technology for the future of finance. First part of a three-part series.  In...

Could Blockchain Technology Alter the Balance of Power Within the Financial System? Q&A with David Yermack

"Blockchain technology is threatening to remake the financial system from the top down in a way that threatens the existence of all the banks,...

Stigler Center Event: David Yermack on Blockchains and the Future of Finance

Yermack, the Albert Fingerhut Professor of Finance and Business Transformation at New York University Stern School of Business, will teach a mini-course of three...

LATEST NEWS

A World With Far Fewer Mergers

Brooke Fox and Walter Frick analyze research and ideas presented at the Stigler Center Antitrust and Competition Conference that question the value of mergers.

The Banking Risks of Central Bank Digital Currencies

The implementation of central bank digital currencies as the primary medium of exchange would exacerbate the flaws of our current fiat system which encourage banks to overextend credit and create liabilities that they cannot redeem. This will worsen the already recurring cycles of financial crises, writes Vibhu Vikramaditya.

The Whig History of the Merger Guidelines

A pervasive "Whig" view of United States antitrust history among scholars and practitioners celebrates the Merger Guidelines' implementation of increasingly sophisticated economic methods since their...

Algorithmic Collusion in the Housing Market

While the development of artificial intelligence has led to efficient business strategies, such as dynamic pricing, this new technology is vulnerable to collusion and consumer harm when companies share the same software through a central platform. Gabriele Bortolotti highlights the importance of antitrust enforcement in this domain for the second article in our series, using as a case study the RealPage class action lawsuit in the Seattle housing market.

The Future Markets Model Explains Meta/Within: A Reply to Herb Hovenkamp

In response to both Herb Hovenkamp’s February 27 article in ProMarket and, perhaps more importantly, also to Hovenkamp’s highly regarded treatise, Lawrence B. Landman, first, shows that the Future Markets Model explains the court’s decision in Meta/Within. Since Meta was not even trying to make a future product, the court correctly found that Meta would not enter the Future Market. Second, the Future Markets Model is the analytical tool which Hovenkamp says the enforcers lack when they try to protect competition to innovate.