Markets

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 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...

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...

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...

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...

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,...

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...

The Limits of Private Action: What the Past 40 Years Taught Us About the Perils of Unregulated Markets

The two big ideas that animated American public policy since the end of World War II, employer-sponsored social benefits and neoliberalism, are failures. We...

LATEST NEWS

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...