Markets
The Metaphysics of Regulatory Capture
Stiglerian capture and corrosive cultural capture, its left-leaning parallel, are ostensibly symbionts, two attempts at identifying impediments to keeping markets competitive by preventing the...
Invigorating Competition in Health Care Markets: Is Rate Regulation Needed?
It now appears that market concentration may be the leading cause of America’s health care cost crisis. If the United States is going to...
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. As such,...
A Simple Way to Measure Tipping in Digital Markets
Digital markets are prone to “tipping.” Policymakers are starting to look at tipping as a market failure worthy of consideration. But as much as...
The Texas Power Failure: How One Market Model Discovered Its Natural Limits
Relying on marginal market prices to provide the incentives for the production and delivery of electricity means that all of the biophysical things enrolled...
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 rarely in...
Insider Trading Data Reveals Pandemic Is a Time for Questioning, Not Answering
Following news reports about executives selling shares in their corporations to avoid losses due to the pandemic, a new study takes a closer takes...
A New Capitalisn’t Episode: a Coronavirus Reading List
In this episode, Kate and Luigi give an economist's view of the coronavirus outbreak: How should we think about the economic trade-offs of interventionist...
The Secret Code of Capital and the Origin of Wealth Inequality
Capital is not a thing, but a social relation enforced by the law and the state. With the right legal coding, any object, claim,...
The Problem With Unicorns: Why Investors Stopped WeWork From Going Public
More and more startups are valued at over $1 billion, even if they have dysfunctional corporate structures and hazardous business models. For tech companies,...
