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Cultural Economics

New York’s Congestion Toll Helped Ambulances Move Faster

Yulia Chikish, Gregory Colman, Dhaval Dave, Brad R. Humphreys, Zachary Santamaria and Zachary Winship
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.
Fiscal Policy

Wealth Taxes Can Make Capital Markets More Efficient

Sergio Ocampo, Guttorm Schjelderup and Floris Zoutman
Wealth taxes can make capital markets more efficient when they are optimally combined with lower capital gains taxes, argue Sergio Ocampo, Guttorm Schjelderup, and Floris Zoutman in new research.

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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.