This week’s Congressional hearing produced evidence of anticompetitive conduct that state attorneys general and private enforcers can use to pursue the dominant...
As part of the Stigler Center’s Political Economy of Covid-19 Series of online programming, which explores the economic and political implications of...
The new normal for millions of people represents a near-total dependence on Amazon’s cloud-computing operation, Amazon Web Services (AWS), and places a substantial portion...
Amazon's price matching policies, which were meant to ensure its dominant position, diminished the ability of brands to control how their products are distributed...
The Jeff Bezos vs. The National Enquirer scandal highlights the role that extortion may play in the business model of some news outlets.
Jeff Bezos’s...
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.
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.
In a new book, The Chile Project: The Story of the Chicago Boys and the Downfall of Neoliberalism, Sebastian Edwards details the history of neoliberalism in Chile over the past seventy years. The Chicago Boys—a group of Chilean economists trained at the University of Chicago through the U.S. State Department’s “Chile Project”—played a central role in neoliberalism’s ascent during General Augusto Pinochet’s rule. What follows is an excerpt from the book on University of Chicago economist Milton Friedman’s 1975 visit to Chile to meet with Pinochet and business leaders.
Darren Bush, Mark Glick, and Gabriel A. Lozada argue that the Consumer Welfare Standard is inconsistent with modern welfare economics and that a modern approach to antitrust could integrate traditional Congressional goals as advocated by the Neo-Brandesians. Such an approach could be the basis for an alliance between the post-Chicago economists and the Neo-Brandesians.
In new research, Guglielmo Briscese and Michèle Belot find that reminding Americans of shared values can open lines of communication and help reduce political polarization.