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Research and Papers

Coronavirus

Covid Economics: The Marcoeconomic Impact of the Pandemic and Policy Responses

Joost Sijthoff
ProMarket reviews the most recent and interesting academic papers on the ongoing pandemic: One paper argues that people do not always fully internalize the...
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Coronavirus

From Borrowing to Stockpiling: How The Virus Outbreak Changed American Household Consumption

Scott R. Baker, Constantine Yannelis, Steffen Meyer, Michael Pagel, R. A. R. A. Farrokhnia
The first academic study of American consumers' reaction to the pandemic finds that total spending rose by half between February 26 and March 11,...
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Coronavirus

Managing Expectations Is Critical to Ensure Compliance with Stay-at-Home Measures

Mario Macis, Guglielmo Briscese, Nicola Lacetera, Mirco Tonin
A study of a representative sample of Italians finds that 50 percent of respondents reported having adopted all recommended actions, including staying at home,...
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Antitrust and Competition

The Darkest Side of Monopsony: The South Korean Case

Sangin Park
"Chaebols”, large business groups controlled by founder families, are usually considered a crucial ingredient of South Korea's economic miracle. But after a process of...
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Coronavirus

Why More Elderly People Get Infected in Some Countries Compared to Others

Christian Bayer, Moritz Kuhn
Italy has a mortality rate of 6 percent while countries like Norway, Denmark, and Germany have rates still close to zero percent. The...
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Academic Capture

Are the Findings in Academic Economic Journals to be Trusted?

Abel Brodeur
A growing number of studies provide evidence that editors (and referees) of academic journals often publish only findings showing a significant effect or surprising...
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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...
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Antitrust and Competition

The Real Price of Health Data: Americans Don’t Want to Share Their Records for Free

ProMarket writers
The 2019 Chicago Booth/Kellogg School Financial Trust Index survey shows that 93 percent of participants don’t want to share their health data with digital...
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Antitrust and Competition

How Allowing a Little Bit of Dissent Helps the Chinese Government Control Social Media

Zhenqi Jessie Liu
A new study on three major social networks in China finds that tolerating small, relatively free platforms helps the Chinese government maintain sufficiently high...
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Academic Capture

Data-Driven Ideology: The Problem With Economists' Takeover of Policymaking

Stefano Feltri
According to New York Times journalist Binyamin Appelbaum's recent book The Economists' Hour, economics is not the unbiased science that it pretends to be, but...
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Antitrust and Competition

The New Challenges of Assessing Big Tech’s Impact

Michael Gofman, Zhao Jin
Big Tech firms are facing the biggest wave of antitrust legislation in their history. Academic literature reveals the complexity of possible consequences...
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News

The Metaphysics of Regulatory Capture

Karthik Ramanna
Stiglerian capture and corrosive cultural capture, its left-leaning parallel, are ostensibly symbionts, two attempts at identifying impediments to keeping markets competitive by...
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Capitalisn't

The Aristocracy of Talent: Business Intelligence

Adrian Wooldridge
In the following excerpt from his new book, The Aristocracy of Talent: How Meritocracy Made the Modern World, Adrian Wooldridge traces "how universities...
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Antitrust and Competition

Why Privacy Experts Need a Place at the Antitrust Table

Cristina Caffarra, Johnny Ryan
Antitrust enforcers have tended to stay narrowly “in their lane,” failing to engage with how data is collected and used by digital...
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News

Assessing George Stigler’s Economic Theory of Regulation

Cary Coglianese
Despite its flaws and limitations, Stigler’s seminal article on the theory of economic regulation remains an important piece of scholarship worthy of...
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Economic History Series

“Old Chicago” and Freiburg: Why Ordoliberalism Was No “German Oddity”

Stefan Kolev, Ekkehard A. Köhler
Both the Chicago and Freiburg schools faced systemic fragility as the crucial property of societal orders. It was this fragility that served...
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Commentary

The Many Faces of Stigler’s Theory of Economic Regulation: Interest Group Politics Still Thrives—But Industry Often Comes Second

Richard Epstein
Stigler treats industry groups as the heavyweights in regulatory contests. But surprisingly often groups of farmers and workers knock them for a...
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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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