The failure of Enron and subsequent demise of Arthur Andersen led to significant changes for public reporting and auditing but not much change in the concentration of audit market power among the remaining Big Four global firms: Deloitte, Ernst & Young, KPMG, and PwC.
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Neoclassical economic theory assumes that firms have no power to influence the rules of the game. A new paper by Luigi Zingales argues: This is true only in competitive product markets. When firms have market power, they will seek and obtain political influence and vice versa.
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A new Stigler Center case study chronicling the story of Chile’s first crowdfunding platform and its early regulatory challenges illustrates how financial regulations can be effectively used by incumbents to stifle competition.
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Amazon, whose stock price crossed $1,000 per share last week, illustrates the shortcomings of our current antitrust regime.
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In this installment of ProMarket’s interview series on concentration in America, Gerald Berk from the University of Oregon discusses the political implications of concentration.
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Can the media hold powerful corporate actors to account in an age of rising concentration? A Stigler Center panel offers opposing views.
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A Stigler Center panel explores the implications of big data for competition policy and for consumer welfare.
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Should the U.S. enforce more explicit restrictions on monopolies, or can innovation and democracy alone mitigate the pervasive effects of monopoly power? A panel of historians and economists at the recent Stigler Center conference on concentration in America discussed the historical evolution of this debate.
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In an interview with the Chicago Booth Review, Stigler Center Director Luigi Zingales spoke about the importance of competition.
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Media scholar Jonathan Taplin, author of the new book Move Fast and Break Things, on the rent-seeking and regulatory capture of digital platforms.
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Donald Trump is actually a boon for many media outlets. Consider, for instance, the case of Sinclair’s TV and radio stations that supported him throughout his presidential campaign.
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A Stigler Center panel debates: Is rising inequality connected to monopolies, rent-seeking, and concentration?
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