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Prateek Raj

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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Antitrust and Competition

Rethinking Competition: From Market Failures to Ecosystem Failures

Michael G Jacobides, Ioannis Lianos
Despite the overwhelming importance of digital platforms, and the chatter around their recent rise, our understanding of digital ecosystems is still limited....
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Corporate Governance

A Famed Economist’s Public Company U-Turn

Brian Cheffins
Michael Jensen, a leading late 20th century economist, pivoted from praising public companies in the 1970s to assailing public company governance in...
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Antitrust and Competition

Chinese Antitrust 2.0: Why Is China Going After Its Big Tech?

Jana Kasperkevic
In an interview with ProMarket, Angela Huyue Zhang, author of a new book Chinese Antitrust Exceptionalism, discusses the motivations behind the recent...
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Antitrust and Competition

Preventing Drug Shortages and Saving Lives: The Role of Quality and Reliability Standards

Rena Conti, Fiona Scott Morton, Adam Kroetsch, Stephen Colvill, Mark Rosenberg
Prescription drug shortages have become more common in recent years, interrupting usual medical care and increasing patient risk and system costs, but...
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Antitrust and Competition

Facebook Break-up Can Be Feasible, Efficient, and Ultimately Beneficial to Consumers

Paolo Buccirossi, Emilio Calvano, Tomaso Duso
Is the relief sought by the FTC in its case against Facebook the right way to go? In principle, yes. However, the...
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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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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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