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Regulatory Capture

When regulation protects narrow interests – usually the interests of the incumbent industry – at the expense of the public interest. Capture occurs in various ways: from straightforward bribes and threats, to more implicit quid pro quos such as the lucrative future employment (revolving door), to softer forms of cognitive/cultural capture.
“… as a rule, regulation is acquired by the industry and is designed and operated primarily for its benefit.” George Stigler – The Theory of Economic Regulation (1971)

Antitrust and Competition

The States Must Appeal the Decision to Allow the Sprint/T-Mobile Deal

Daniel A. Hanley
A close review of the court ruling that approved the $26 billion mega-merger reveals a number of mistakes in Judge Victor Marrero’s reasoning, which...
Antitrust and Competition

The Amazon of Health Care: How CVS Is Evolving From a Drug Store Chain into a Tech Platform

Matt Stoller
CVS is built on a dominant chain of drug stores, but it is now trying to turn itself into a "uniquely powerful platform" for...
Academic Capture

The World Bank's "Papergate": Censorship Is Not the Best Way to Stop Development Aid From Fueling Corruption

Stefano Feltri
A new study of World Bank data finds that aid disbursement to highly aid-dependent countries coincides with sharp increases in bank deposits in offshore...
Antitrust and Competition

The Only Regulation Mark Zuckerberg Likes Is No Regulation

Stefano Feltri
In an op-ed and a white paper, Facebook's CEO argues that "private companies should not make so many decisions alone when they touch on...
Antitrust and Competition

Facebook’s Enduring Control Over Social Media Markets

Filippo Lancieri
According to the British Competition and Markets Authority (CMA), Facebook accounts for 75 percent of the UK’s social media market. Over the past 10 years,...
Antitrust and Competition

Antitrust Law’s Current Stance Toward Workers Violates Its Original Purpose to Balance Power With Powerful Firms

Sanjukta Paul
Antitrust law’s present-day bias against democratic cooperation and in favor of top-down corporate control has contributed more broadly to the institutional weakness and perceived...
Antitrust and Competition

The Chicken/Egg Problem With Google Search That Prevents Competition

Filippo Lancieri
Google controls the British search market, according to the UK's Competition and Markets Authority. Its 90 percent market share and profits from general search are...
Academic Capture

With the Court Approval of the T-Mobile/Sprint Merger, the Dominant Doctrine in Antitrust Has Jumped the Shark

Matt Stoller
New York Judge Victor Marrero allowed two major mobile companies to merge in an already concentrated telecom industry, ensuring that prices will rise and...
Antitrust and Competition

Google’s and Facebook’s Grip on Digital Advertising Markets

Filippo Lancieri
Since July 2019, the UK's Competition and Markets Authority has been conducting an extensive investigation of the digital advertising market. In its preliminary report on...
Antitrust and Competition

Can Google Mobilize Its Users to Lobby Elected Officials?

ProMarket writers
Google has an 87 percent market share in the search business and the potential to mobilize more voters than the Democratic primaries, according to...
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The publication of the Stigler Center at The University of Chicago Booth School of Business

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.