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Prateek Raj

Prateek Raj studies how free and inclusive markets evolve(d) in history, and in developing countries. Prateek is an Assistant Professor in Strategy at the Indian Institute of Management Bangalore (IIMB) and IIMB Young Faculty Research Chair, leading the IIMB Inclusive Markets Project. He is also a Junior Fellow at the Stigler Center for the Study of the Economy and the State at the University of Chicago Booth School of Business.
Commentary

How Twitter Weakened India’s Information Ecosystem

India’s Covid-19 crisis is a reminder that Indian democracy is also in a crisis, partly due to an information ecosystem where facts...
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Antitrust and Competition

We Need to Deal With WhatsApp's Misinformation Problem

A peculiar feature of WhatsApp groups has made the spread of misinformation much easier. We need better design guidelines for platforms like WhatsApp, ones...
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Regulatory Capture

Prize-Winning Innovations in Measuring Civic Capital and Its Effects

The European Economic Association has announced that this year’s Hicks Tinbergen medal will go to ProMarket editor and Stigler Center faculty director Luigi Zingales...
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Rent seeking

A Tale of Two Cities: Hamburg and Lübeck

The German cities of Hamburg and Lübeck have an interwoven and eventful history. Whereas Lübeck offers an example of how dominant cities may become unattractive...
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Antitrust and Competition

How Markets in Europe Opened Up as Guild Monopolies Declined in the Sixteenth Century

Markets don’t function well if they are ridden with frictions like lack of information or lack of trust. A new working paper finds that...
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Antitrust and Competition

"Antimonopoly Is as Old as the Republic"

Should the U.S. enforce more explicit restrictions on monopolies, or can innovation and democracy alone mitigate the pervasive effects of monopoly power? A panel of...
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Media

Can Narratives Shape Society?

Narratives that alter beliefs and change norms or guiding principles may indeed have real and lasting effects.  In the 2017 American Economic Association Presidential Address,...
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Rent seeking

Does Regulation Build Trust or Entrench Cliques? Lessons From Merchant Guilds and the Taxi Industry

Close-knit networks, like guilds and taxi associations, are helpful in enhancing trust and reliability. Yet they can also become exclusive and rent-seeking. Last May,...
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Media

The Role of Narratives in Economics

Narratives are vectors of ideas. Nobel laureate Robert Shiller suggests that in the age of social information networks, economists need to rethink how and...
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Latest news

Antitrust and Competition

When Do Users Benefit From Platform Mergers?

Chiara Farronato, Jessica Fong, Andrey Fradkin
A new paper shows that platform mergers can harness network effects at the cost of reducing the platform differentiation that users value. 
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Economic History Series

Harold Demsetz and Israel Kirzner Understood That Competition Regulates Markets

Peter J. Boettke, Rosolino A. Candela
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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Antitrust and Competition

The Covid-19 Pandemic Should Not Delay Actions to Prevent Anticompetitive Consolidation in US Health Care Markets

Leemore Dafny
Harvard Business School professor Leemore Dafny lays out potential reforms to assist agencies in halting anticompetitive acquisitions and practices, and to preserve...
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Antitrust and Competition

Who Benefits From Competitive State-Level Legislatures?

Manav Raj
A new paper finds that when interparty competition in state legislatures is high, well-connected and influential incumbent firms are best able to...
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Corporate Governance

No More “Mystery Meat”: Why We Need Better Corporate Governance Data

Jens Frankenreiter, Cathy Hwang, Yaron Nili, Eric Talley
Three decades of finance, economics, and legal studies in corporate governance have been built substantially on data sets with nearly unknown provenance....
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Economic History Series

How Protests Against the Jim Crow Credit Market Changed the Civil Rights Movement

Mehrsa Baradaran
Before the civil rights movement captured the nation’s attention, activists and community groups were protesting against exploitative credit and exclusionary lending practices...
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Corporate Governance

George Stigler and the Challenge of Democracy

Anat Admati
We are all victims of what George Stigler described as “the pervasive use of state support of special groups” and of governance...
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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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