Regulation

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 going to...

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 mechanisms behind...

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. As such,...

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 they are...

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 things enrolled...

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 rarely in...

OpenLux: Despite Reform Efforts, Luxembourg Remains an “Offshore Hub in the Heart of Europe”

Dozens of foreign citizens linked to corruption, embezzlement of public funds, organized crime, and tax crime have opened companies in Luxembourg, seemingly without raising...

What Is the Price of a Prescription Drug?

Due to lack of transparency and mystery rebates, which are considered trade secrets, figuring out the price of a prescription drug is devilishly difficult....

Essential Platform Monopolies: Open Up, Then Undo

Digital platforms have become “economic toll bridges.” By treating them as essential facilities, we could help strengthen healthy competition online. It is high time to revive,...

Reversing the “Resource Curse” with Foreign Corruption Regulation

Anti-corruption regulation originating in developed countries is effective in changing corporate behavior and has a positive economic impact on developing countries. Countries with large natural-resource endowments are often...

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