Presenting: The Stigler Center’s Report on How to Rein in Big Tech

The Stigler Center presents its policy suggestions on how to address the political and economic issues raised by the market power of tech platforms like Google and Facebook. The result of a year-long, multidisciplinary research, the recommendations are aimed at promoting competition, protecting consumers, and defending democracies while maintaining the benefits of digital platforms.  

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Global Declining Competition

Studies of the evolution of market power since 2000 have focused mostly on publicly traded US firms. This column introduces a new global study that incorporates private firms and decomposes the aggregate effect into intensive and extensive margins. It shows the increase in markups is broad-based across countries and sectors but is driven by a small number of firms.   

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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 the US, this column suggests that the increased concentration has led to more volatile prices of stocks held by large institutional investors. This poses challenges for regulators trying to weigh price efficiency and economies of scale.  

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Did Facebook and Google “Blackmail” EU Experts to Avoid Discussing Their Market Power?

A new report by the journalist network Investigate Europe claims representatives of Facebook and Google pressured members of an EU working group on fake news to drop proposals that would have called for an examination of the role played by tech platforms’ business models and market power in the spread of disinformation online.  

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