Mihir Gandhi
Coronavirus
Option-Based Credit Spreads Signal a Recession, but the US Stimulus Will Soften the Blow
Over the past month, option-based credit spreads spiked and remain at elevated levels. The surge signals that a recession is at our door, but...
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Antitrust and Competition
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....
Corporate Governance
A Famed Economist’s Public Company U-Turn
Michael Jensen, a leading late 20th century economist, pivoted from praising public companies in the 1970s to assailing public company governance in...
Antitrust and Competition
Chinese Antitrust 2.0: Why Is China Going After Its Big Tech?
In an interview with ProMarket, Angela Huyue Zhang, author of a new book Chinese Antitrust Exceptionalism, discusses the motivations behind the recent...
Antitrust and Competition
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...
Antitrust and Competition
Facebook Break-up Can Be Feasible, Efficient, and Ultimately Beneficial to Consumers
Is the relief sought by the FTC in its case against Facebook the right way to go? In principle, yes. However, the...
Antitrust and Competition
A Simple Way to Measure Tipping in Digital Markets
Digital markets are prone to “tipping.” Policymakers are starting to look at tipping as a market failure worthy of consideration. But as...
Corporate Governance
The Most Famous Article on the Theory of the Firm is Widely Misunderstood
Michael Jensen and William Meckling’s famous 1976 Journal of Financial Economics article has been cited nearly 100,000 times and is often regarded...
