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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.
Book Excerpts

The Promise of Charity-Owned Businesses

Prateek Raj
A future of business may be businesses owned by charities; they have a history of commercial success and social good. The following is an...
Big Tech

How Twitter Weakened India’s Information Ecosystem

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

We Need to Deal With WhatsApp's Misinformation Problem

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

Prize-Winning Innovations in Measuring Civic Capital and Its Effects

Prateek Raj
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...
Rent seeking

A Tale of Two Cities: Hamburg and Lübeck

Prateek Raj
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...
Antitrust and Competition

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

Prateek Raj
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...
Antitrust and Competition

"Antimonopoly Is as Old as the Republic"

Prateek Raj
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...
Media

Can Narratives Shape Society?

Prateek Raj
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,...
Rent seeking

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

Prateek Raj
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,...
Media

The Role of Narratives in Economics

Prateek Raj
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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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.