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.

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...

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...

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...

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...

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...

"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...

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,...

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,...

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...

Latest news

When Do Users Benefit From Platform Mergers?

A new paper shows that platform mergers can harness network effects at the cost of reducing the platform differentiation that users value. 

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...

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

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

Who Benefits From Competitive State-Level Legislatures?

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

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

Three decades of finance, economics, and legal studies in corporate governance have been built substantially on data sets with nearly unknown provenance....

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

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

George Stigler and the Challenge of Democracy

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