market failure

Rethinking Competition: From Market Failures to Ecosystem Failures

Despite the overwhelming importance of digital platforms, and the chatter around their recent rise, our understanding of digital ecosystems is still limited....

The Texas Blackouts and the Problems of Electricity Market Design

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

The SEC Proposal on Proxy Advisory Firms Will Provide Greater Transparency and Accountability

Proxy advisory firms lack transparency and their recommendations are not always in shareholders' interests. However, despite their poor performance, the two biggest firms' market...

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Rethinking Competition: From Market Failures to Ecosystem Failures

Despite the overwhelming importance of digital platforms, and the chatter around their recent rise, our understanding of digital ecosystems is still limited....

A Famed Economist’s Public Company U-Turn

Michael Jensen, a leading late 20th century economist, pivoted from praising public companies in the 1970s to assailing public company governance in...

Chinese Antitrust 2.0: Why Is China Going After Its Big Tech?

In an interview with ProMarket, Angela Huyue Zhang, author of a new book Chinese Antitrust Exceptionalism, discusses the motivations behind the recent...

Preventing Drug Shortages and Saving Lives: The Role of Quality and Reliability Standards

Prescription drug shortages have become more common in recent years, interrupting usual medical care and increasing patient risk and system costs, but...

Facebook Break-up Can Be Feasible, Efficient, and Ultimately Beneficial to Consumers

Is the relief sought by the FTC in its case against Facebook the right way to go? In principle, yes. However, the...