Concentration
The Effects of Concentration in the Asset Management Industry on Stock Prices
The asset management industry has become increasingly concentrated in recent decades. Regulators are concerned about the systemic risks this may pose. Using data from...
Antitrust Alone Is Not Enough to Combat the Problems Associated With Digital Platforms
Digital platforms present an enforcement challenge sufficiently daunting that it requires major reforms to antitrust law. But in order to restore lost competition, we...
How to Protect Competition and Consumers in Digital Markets
While some markets may self-correct, rapid self-correction in markets dominated by large digital platforms is unlikely. The economy and market structure subcommittee of the...
How to Mitigate the Political Impacts of Social Media and Digital Platform Concentration
Ahead of its annual conference on Digital Platforms, Markets and Democracy, the Stigler Center formed a committee to produce independent white papers that will...
Restoring Antimonopoly Through Bright-Line Rules
The “consumer welfare” approach to antimonopoly is the main contributor to the extreme and dangerous concentrations of power that Americans face today. In place...
The “Biggest Puzzle in Economics”: Why the “Superstar Economy” Lacks Any Actual Superstars
A new study finds that the contribution of superstar firms to US productivity growth has decreased by more than 40 percent over the past...
The Greatest Anticompetitive Threat of Our Time: Fixing the Horizontal Shareholding Problem
Undisputed empirical studies confirm that horizontal shareholding poses a great anticompetitive threat. What can antitrust enforcers do about it? Quite a lot, in fact.
Editors'...
“It’s Crucial to Break Up Facebook”
Columbia law professor Tim Wu on The Curse of Bigness, neo-Brandeisian antitrust, and the lessons we should learn from the first Gilded Age.
Four...
Market Power or Just Scale Economies?
While increased economies of scale may offer a partial explanation for higher margins and declining dynamism in the US economy, growing market power provides...
Editors’ Briefing: This Week in Political Economy (November 18-December 2)
New report reveals America’s “concentration crisis”; antitrust enforcers and regulators in Europe are going after Amazon, Facebook and Google; Facebook’s ongoing Soros debacle; and...
