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Antitrust and Competition
Michael G Jacobides, Ioannis Lianos

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, we risk plunging into a regulatory debate without having first properly analyzed the nature of the problem. We need more grounded empirical work on digital competition and power. As regulatory discussions on both sides of the Atlantic gather pace, the question is not whether digital...
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Antitrust and Competition

A Simple Way to Measure Tipping in Digital Markets

Nicolas Petit, Natalia Moreno Belloso
Digital markets are prone to “tipping.” Policymakers are starting to look at tipping as a market failure worthy of consideration. But as...
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Corporate Governance

The Most Famous Article on the Theory of the Firm is Widely Misunderstood

Brian Cheffins
Michael Jensen and William Meckling’s famous 1976 Journal of Financial Economics article has been cited nearly 100,000 times and is often regarded...
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Antitrust and Competition

Revisiting Ohio vs. American Express: It’s Time for a More Nuanced Approach to Market Definition

Caio Mario da Silva Pereira Neto, Filippo Maria Lancieri
Nearly three years ago, the Supreme Court decided the case of Ohio vs. American Express, which turned out to be one of...
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Antitrust and Competition

“Power Is Evil in Itself”: The Ordoliberal Quest for a Privilege-Free Order

Stefan Kolev
The lesson from the quest of German ordoliberals for a privilege-free order from the 1930s to the 1950s is that once in...
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Antitrust and Competition

Green Antitrust: Why Would Restricting Competition Induce Sustainability Efforts?

Maarten Pieter Schinkel, Leonard Treuren
While “green” antitrust is gaining momentum, its key premise—that restricting competition would incentivize companies to jointly take more sustainability initiatives—finds little or...
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what we're reading

What we are reading

Microsoft’s Nuance Gambit Shows Healthcare Is Shaping Up as Next Tech Battleground

ProMarket writers
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[Wall Street Journal]
What we are reading

Ant Group Announces Overhaul as China Tightens Its Grip

ProMarket writers
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[The New York Times]
What we are reading

Alibaba Shares Jump After Record $2.8bn Anti-Monopoly Fine

ProMarket writers
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[The Guardian]
What we are reading

Executives Call for Deep Emission Cuts to Combat Climate Change

ProMarket writers
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[The New York Times]
What we are reading

Google’s Secret ‘Project Bernanke’ Revealed in Texas Antitrust Case

ProMarket writers
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[Wall Street Journal]
What we are reading

Record Alibaba Fine Shows China’s Big Tech Can’t Fight Back

ProMarket writers
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[Bloomberg]
What we are reading

Alibaba, Hit by Antitrust Fine, Vows to Help Vendors With Fee Cuts

ProMarket writers
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[Wall Street Journal]
What we are reading

How Facebook Let Fake Engagement Distort Global Politics: a Whistleblower’s Account

ProMarket writers
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[The Guardian]
What we are reading

Revealed: the Facebook Loophole That Lets World Leaders Deceive and Harass Their Citizens

ProMarket writers
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[The Guardian]
What we are reading

Record Alibaba Fine Shows China’s Big Tech Can’t Fight Back

ProMarket writers
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[Bloomberg]
What we are reading

Amazon’s Victory Against a Union Drive in Alabama Proved Workers Want Better Workplaces, but America’s Labor Laws Are Too Broken to Help Them Get...

ProMarket writers
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[Business Insider]
What we are reading

Suspect Sanjeev Gupta Invoices Used in Greensill Loans Raise Fraud Concerns

ProMarket writers
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[Financial Times]

READING LISTS

Techlash Goes to Court

Late last year, the Department of Justice and the Federal Trade Commission (along with dozens of states attorneys general) filed landmark antitrust cases against Google and Facebook for anticompetitive tactics. Will these lawsuits succeed? What are the potential consequences? Catch up on ProMarket's coverage of the ongoing antirust cases against Big Tech.

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Antitrust and Competition

Reviewing Facebook’s Mergers Could Have Negative Ripple Effects

Randy Picker
How the pre-merger notification regime came about and why we should be careful about discouraging useful mergers.
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Antitrust and Competition

The Antitrust Cases Against Facebook And Google: In Search of a Smoking Gun

Samuel Weinstein
In the Microsoft antitrust case, Bill Gates’ emails were perhaps the government’s most compelling evidence. Now, as regulators pursue antitrust cases against Facebook...
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Antitrust and Competition

Why Isn’t the FTC Tackling Facebook’s Data-opoly?

Maurice E. Stucke
Nothing in the FTC’s and states’ complaints’ prayer for relief seeks to give users greater control over their data, such as not...
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Antitrust and Competition

The FTC’s Antitrust Case Against Facebook: Injunction, Divestiture, or Breakup?

Herbert Hovenkamp
While the FTC’s lawsuit against Facebook is unlikely to lead to a “breakup,” it could force Facebook to undo some mergers. Breaking things up...
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The Biden Presidency

In November 2020, Joe Biden was elected to be the 46th President of the United States. What will his presidency look like? What issues will his administration tackle? Catch up on ProMarket's coverage of the Biden presidency.

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Antitrust and Competition

Morale At the DOJ’s Antitrust Division Has Plummeted. Here’s How to Fix It

John Newman
The Biden administration should work to reverse the declining morale since a re-energized Antitrust Division will translate into more effective, innovative enforcement...
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Antitrust and Competition

What Would Lina Khan’s FTC Nomination Mean For the Future of Antitrust Enforcement?

Asher Schechter
If confirmed, Khan’s nomination potentially heralds a profound shift in the way that antitrust law is enforced and discussed in the US.
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Antitrust and Competition

What the Biden DOJ Can Learn From the Clinton and Obama Years on How to Tackle America’s Monopoly Problem 

Allen Grunes
The Clinton DOJ attacked international cartels. The Obama DOJ prioritized merger enforcement. The Biden DOJ needs to focus on America’s monopoly problem.
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Money in Politics

Systemic Corruption in America Spans Political Parties

Jana Kasperkevic
In an interview with ProMarket, Sarah Chayes, author of the book On Corruption in America, discussed corruption in the US and how...
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Teaching
Antitrust and Competition

Does Market Power Lead to Political Power?

ProMarket writers
A Stigler Center webinar explores what would be the foundations of a political and economic system that might be more resilient to pressure from powerful interests. Why has traditional antitrust policy been unable to prevent the rise of large politically-powerful firms? Should antitrust enforcers consider the political power of corporations and, if so, what are the benefits and perils of redesigning antitrust to promote political and economic liberty? These...
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Antitrust and Competition

Market Power and Money in Politics

ProMarket writers
A Stigler Center webinar explores how businesses lobby and compete for political power and whether mergers and industry concentration affect lobbying.  Firms compete in markets, and markets are affected...
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Antitrust and Competition

Is There a Problem with Competition?

ProMarket writers
A Stigler Center webinar explores instances where competition turns toxic, whether antitrust policy needs reform, and potential paths forward. Is there such a thing as too much competition? Can competition...
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How Reforming Antitrust Can Restore a Competitive Economy

Antitrust and Competition
Jonathan B. Baker
For decades, competition in America has been on the wane, leading to slower economic growth and a gaping chasm of inequality. Antitrust can help...

COLUMNS

Antitrust and Competition

GameStop, the Cantillon Effect, and America’s Corrupt Financial Plumbing

Matt StollerMatt Stoller
The GameStop frenzy, far from a morality tale of the people showing up Wall Street elites, should show that something is seriously...
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Capitalisn't

How Should We Finance Higher Education If Not Through Student Debt? A New Capitalisn’t Episode

Bethany McLeanBethany McLean
In a new episode of Capitalisn’t, Luigi Zingales and Bethany McLean take a look at the student debt crisis: How did we...
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Media

Bethany McLean’s Weekend Reading List: Nursing Homes, the World’s Largest Pension Fund, and Our Make-Believe Economy

Bethany McLeanBethany McLean
Corruption, lobbying, corporate malfeasance, and frauds: a weekly unconventional selection of must-read articles by investigative journalist Bethany McLean. 
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Commentary

Bethany McLean’s Weekend Reading List: Wirecard, Women in the Workplace, and Social Safety Nets

Bethany McLeanBethany McLean
Corruption, lobbying, corporate malfeasance, and frauds: a weekly unconventional selection of must-read articles by investigative journalist Bethany McLean. 
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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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