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The Role of the State

Antitrust and Competition

States Can Facilitate an AI Slowdown Without the Federal Government

Noah Hoffman
The artificial intelligence industry recently called for an antitrust exemption to coordinate self-regulation as the risks their models pose to the internet and society...
Antitrust and Competition

Antitrust Enforcers Should Focus on Market Power Not on Vague Welfare Concepts

Alberto Heimler
Alberto Heimler argues that antitrust authorities should focus on whether market power allows one party to exploit relationship-specific sunk investments made by another and how that undermines potential innovation, investments, and competition. 
Antitrust and Competition

Merger Review Needs More Uncertainty

Bart Lahcen
All merger reviews come with uncertainty, but the culture among courts, consultants, and regulators is to pretend that sophisticated modeling can eliminate uncertainty, and thus any uncertainty reflects poor econometric analysis. Creating standards of uncertainty would produce more honest analysis and better competition outcomes, writes Bart Lahcen.
Fiscal Policy

Financial Transparency Reduces the Accumulation of Offshore Fortunes

Annette Alstadsæter
In new research, Annette Alstadsæter, Niels Johannesen, Ségal Le Guern Herry & Gabriel Zucman find that Norwegian households that become wealthy today are much less likely to adopt offshore tax evasion strategies under modern high-transparency standards. 
Regulation

Transplanting FRAND Principles from SEP to Data Licensing  

Tingting Song
In new research, Tingting Song examines how FRAND principles typically used to discipline excessive or discriminatory terms in SEP licensing can be applied to data brokers in data licensing.
Cultural Economics

New York’s Congestion Toll Helped Ambulances Move Faster

Yulia Chikish
In new research, Yulia Chikish, Gregory J. Colman, Dhaval M. Dave, Brad R. Humphreys, Zachary Santamaria, and Zachary Winship find that New York City congestion pricing has reduced emergency medical services response times.
Commentary

AI Governance Needs a Macroprudential Turn

Piergiuseppe Fortunato
Artificial intelligence agents are beginning to interact in ways that create risks beyond individual misalignment with corporate and social expectations. As happened with global finance after the 2007 crisis, AI governance needs to begin focusing on how good agents can still produce bad systems.
Antitrust and Competition

Mineral Concentration Jeopardizes America’s AI Industry

Piyush Akimitsu
The discussion about concentration in artificial intelligence markets focuses on the least concentrated layer, the models. The chokepoint that actually threatens AI is the production of refined minerals that go into chips, data centers, and electricity production, writes Piyush Akimitsu.   
Antitrust and Competition

Competition Law Must Protect the Citizen, Too

Walid Chaiehloudj
Walid Chaiehloudj argues that when a scientifically substantiated large but uncertain risk, like environmental damage, conflicts with standard competition analysis, competition authorities need to defer to a precautionary citizen-consumer standard that takes into consideration the risks of that harm.
Research

Can Regulation Prevent Collusion Against Environmental Standards?

Jorge Alé-Chilet
In recent research, Jorge Alé-Chilet, Cuicui Chen, Jing Li, and Mathias Reynaert find that when faced with environmental regulations, collusion among German car manufacturers reduced their expected non-compliance fines and significantly increased consumer and producer surplus. At the same time, social welfare decreased by billions of euros because of increased pollution.
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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.