Product Market Concentration Is Decreasing, and It’s Because of the Big Guys

A new study by economists at Princeton University and the Federal Reserve Bank of Richmond finds that while national market concentration is clearly increasing, local concentration is not. In fact, local concentration has been declining rapidly for the last 25 years when measured at the city, county, or ZIP code level.  

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Paul Tucker on Unelected Power: A Technocrat against Technocracy

In a recent review of Paul Tucker’s new book Unelected Power (extracted here for ProMarket), Diane Coyle of the University of Manchester and the consultancy Enlightenment Economics took issue with Tucker’s application of his principles of delegation of power to competition policy. Luigi Zingales, in turn, addressed her objections with the following note on her review.  

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