market failure

James M. Buchanan Trusted Market Mechanisms Because He Trusted Individuals

James Buchanan, one of the most influential economists of the twentieth century, believed that individuals were able to voluntarily devise private and...

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...

LATEST NEWS

Academic Gatekeepers, Real and Imagined, Are Threatening the Credibility of the Field of Political Finance 


One objective of political finance is to hold power to account. However, gatekeeping, both direct and indirect, is keeping important work from...

A Call for Comments: Have You Been Affected by Academic Gatekeeping?

On Friday, ProMarket published a piece by Renée Adams about the impact of academic gatekeeping in the political finance. Do you have...

How Big Data Fuels Big Tech’s Anticompetitive Conduct and Gatekeeping Power

Achieving a truly open internet is only possible through robust online competition free from the control of today’s digital gatekeepers like Facebook...

The Corporate Power Narrative: How Corporations Benefit from Economic Globalization

In an excerpt from their new book, Six Faces of Globalization: Who Wins, Who Loses, and Why It Matters, Anthea Roberts and...

Managers Should Satisfy Only the Ethically Permissible Preferences of Shareholders

Oliver Hart and Luigi Zingales have proposed a revision to the dominant model of the objective of the firm, most famously defended...