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Commentary

An outlet for insiders to speak freely (as they remain anonymous to the reader) on what they perceive as problematic practices in their own industry – with an emphasis on how the industry tweaks the rules of the game and captures regulation.
“People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices. It is impossible indeed to prevent such meetings, by any law which either could be executed, or would be consistent with liberty and justice.” Adam Smith – An Inquiry into the Nature and Causes of the Wealth of Nations (1776)

Commentary

Exxon’s Suit Against Its Own Shareholders Threatens Valuable Bargaining

Colleen Honigsberg
Colleen Honigsberg and Robert J. Jackson, Jr. write that Exxon Mobil’s decision to sue its own investors over a shareholder proposal threatens to enervate an admittedly imperfect but ultimately valuable mechanism that provides shareholder feedback to corporate managers and helps both parties negotiate better governance outcomes.
Commentary

Is Democracy Relevant to the Way We Govern Public Companies?

Sarah C. Haan
On May 29, Exxon Mobil held its 2024 corporate election. Before the election, the company sued two investors over their proposal to include a commitment in its proxy statement to accelerate the company’s reduction of greenhouse gas emissions. Sarah Haan argues that the election and the lawsuit shed more light on current upheavals in corporate democracy than they do on the success of the ESG movement.
Antitrust and Competition

Federal Legislation, Not the NCAA Antitrust Settlements, Should Drive a New Model of College Sports

Diana L. Moss
Diana Moss and Jason Gold write that the major private antitrust lawsuit involving how the National Collegiate Athletic Association governs compensation for college student athletes overreaches by remaking the model of college sports in the United States. Instead, the paradigm shift in college athletics should be deliberated and decided through the legislative process.
Antitrust and Competition

Four Strengths of the Government’s Lawsuit Against Live Nation-Ticketmaster: Part II

Michael A. Carrier
In part II of a two-part series, Michael A. Carrier analyzes the merits and strengths of the government’s recent lawsuit against Live Nation and its subsidiary, Ticketmaster, for monopolizing the live entertainment market. See here for part I.
Antitrust and Competition

The Government Has a Compelling Monopolization Lawsuit Against Live Nation-Ticketmaster: Part I

Michael A. Carrier
In part I of a two-part series, Michael A. Carrier outlines the evidence behind the government’s recent lawsuit against Live Nation and its subsidiary, Ticketmaster, for monopolizing the live entertainment market. Part II will come out tomorrow.
Antitrust and Competition

Live Nation’s Anticompetitive Conduct Is a Problem for Security

Roslyn Layton
Roslyn Layton highlights a recent data breach that exposed the personal information of millions of customers, including those who never directly used Ticketmaster's services, underscoring concerns about the company's data collection practices and market dominance.
Antitrust and Competition

An Explainer on How Market Concentration Is Measured

Will Macheel
Concerns about market concentration and its effects on competition are at the heart of antitrust policy. Will Macheel explains the Herfindahl-Hirschman Index (HHI) as a common measure of market concentration, its implications for United States antitrust policy, and potential drawbacks of the measure. He closes the article by highlighting research on the HHI as a regulatory tool for screening mergers.
Commentary

How Has the Affordable Care Act Fared After Ten Years?

David Ennis
David Ennis evaluates how well the Affordable Care Act has met its expectations and where it has fallen short ten years after its implementation.
Antitrust and Competition

The Legality of the FTC’s Noncompete Ban Is Less Certain Than Masur and Posner Suggest

Gus Hurwitz
Gus Hurwitz replies to Jonathan Masur and Eric Posner’s May 8 article defending the Federal Trade Commission’s Congressional mandate to enforce a rule banning noncompetes. He argues that Congressional responses to FTC rulemaking in the 1970s suggest courts are unlikely to find that the FTC possesses such authority, either as a matter of statutory interpretation or under the major questions doctrine.
Commentary

Tesla Directors Took a Big Accounting Bet With No Independent Accounting Advice

Lucian Bebchuk
Lucian Bebchuk and Robert Jackson argue that the Tesla board’s prediction that restoring Musk’s old pay package would require no new compensation charge to Tesla’s financial statement seems not to have been based on any independent accounting advice. This could carry substantial risks for Tesla stockholders.
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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.