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market design

The Texas Blackouts and the Problems of Electricity Market Design

Georg Rilinger
Even in an ideal electricity market, reliability is an elusive and precarious byproduct of companies’ search for profits. Since market designers are rarely in...

How Market Design Economists Helped Engineer a Mass Privatization of Public Resources

Glen Weyl
In 2017, the Federal Communications Commission conducted a complex two-sided auction to reallocate spectrum from broadcasters to mobile communications companies. The way economists designed...

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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.