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Regulation

A Posner-Stigler Smoking Gun?

A memo from George Stigler and Richard Posner to the Reagan administration was recently unearthed. To understand the meaning behind the memo,...
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Designing Better Antitrust Remedies for the Digital World

Even when antitrust enforcers and courts get it right when finding an anticompetitive infringement, they constantly end up imposing remedies that are...
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“Comments for Sale”: Charitable Donations Can Lead Non-profits to Support Corporate Regulatory Agendas

A new paper shows how financial ties between companies and non-profits can subvert rulemaking process and lead to regulations that favor the...
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George Stigler’s Errors and Their Virtues

George Stigler might have been wrong in his essay on economic regulation, but his influence is undeniable. The unity of purpose in...
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Harold Demsetz and Israel Kirzner Understood That Competition Regulates Markets

Economists Harold Demsetz and Israel Kirzner challenged the prevailing orthodoxy in microeconomic analysis and public policy beginning with their respective work in...
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Invigorating Competition in Health Care Markets: Is Rate Regulation Needed?

It now appears that market concentration may be the leading cause of America’s health care cost crisis. If the United States is...
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Stigler’s Interest-Group Theory of Regulation: A Skeptical Note

As a rule, regulation is not acquired by “the industry,” and it is not designed and operated primarily for its benefit. The...
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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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Preventing Drug Shortages and Saving Lives: The Role of Quality and Reliability Standards

Prescription drug shortages have become more common in recent years, interrupting usual medical care and increasing patient risk and system costs, but...
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The Texas Power Failure: How One Market Model Discovered Its Natural Limits

Relying on marginal market prices to provide the incentives for the production and delivery of electricity means that all of the biophysical...
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LATEST NEWS

News

Delaware: The State Where Companies Can Vote

Hal Weitzman
Adapted from What’s the Matter with Delaware: How the First State Has Favored the Rich, Powerful, and Criminal—and How It Costs Us...
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Antitrust and Competition

The NCAA Goes After College Athletes’ NIL Money—Here are the Antitrust Implications for Workers and Consumers

Ted Tatos
Having lost in the Supreme Court on student-athlete academic benefits, the NCAA has signaled a continuing attempt to suppress competition in the...
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Corporate Governance

Have Business Roundtable Companies Lived Up to Their Stakeholder Commitments?  

Lucian Bebchuk, Roberto Tallarita
In 2019, more than 100 CEOs of US public companies signed a Business Roundtable statement in which they pledged to deliver value...
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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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Antitrust and Competition

Mergers and Smoking Guns

Erik Peinert
A recently uncovered memo from George Stigler and Richard Posner reveals how they thought about antitrust and merger policy in advising the...
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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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