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market failure

James M. Buchanan Trusted Market Mechanisms Because He Trusted Individuals

James Buchanan, one of the most influential economists of the twentieth century, believed that individuals were able to voluntarily devise private and...
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Rethinking Competition: From Market Failures to Ecosystem Failures

Despite the overwhelming importance of digital platforms, and the chatter around their recent rise, our understanding of digital ecosystems is still limited....
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The Texas Blackouts and the Problems of Electricity Market Design

Even in an ideal electricity market, reliability is an elusive and precarious byproduct of companies’ search for profits. Since market designers are...
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The SEC Proposal on Proxy Advisory Firms Will Provide Greater Transparency and Accountability

Proxy advisory firms lack transparency and their recommendations are not always in shareholders' interests. However, despite their poor performance, the two biggest firms' market...
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LATEST NEWS

Fiscal Policy

More than Economics, Ideology Determines US Voters’ Preferences for Redistribution

Gustavo de Souza
The US stands out among developed economies for its comparatively low level of redistribution as a percentage of GDP. Gustavo de Souza...
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Research

Stakeholder Motivations for “Private Sanctions” Against Russia

Utsav Gandhi
As the war in Ukraine enters its second year, a new study measures stakeholders’ desire to see their firms exit Russia and...
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Big Tech

The Wicked Problem Embodied by The Twitter Files

Tom Ginsburg
In response to a recent ProMarket post about the Twitter Files, professor Tom Ginsburg points out that the toughest question lies in...
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News

Study Shows Universal Bank Trades Are Informed by Private Commercial Borrower Information

Will Macheel
New research by Rainer Haselmann, Christian Leuz, and Sebastian Schreiber finds evidence suggesting that German banks with commercial lending relationships improve their...
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News

Industrial Policy Is a Seductive Mirage

Michael C. Munger
Industrial policy was once so out of fashion that it was jokingly called “the policy that shall not be named.” Now it’s...
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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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