Did Liberals Break Liberal Democracy?
Matt Lucky reviews Daron Acemoglu’s “What Happened to Liberal Democracy?: Remaking a Politics of Shared Prosperity,” now out at Penguin Press. Read it at ProMarket >>
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The publication of the Stigler Center at the University of Chicago Booth School of Business
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The Ctrip Case Reveals the Limits of Administrative Interviews in China’s Antitrust Enforcement
The recent case of Chinese online travel platform Ctrip ignoring the warnings of provincial competition authorities until the central government stepped in reveals the limits of China’s decentralized regulatory system. Chun-Kit (Kitson) Ng suggests several ways that China can reform its system to empower the provincial authorities and fulfill the regulatory system’s design to avoid drawing on the…
Government Bond Markets See Ecological Decline as a Growth Problem
Summary Teaser: In new research, Jitendra Aswani and William W. Xiong show that countries facing greater risks to their natural assets, from overfishing to deforestation, pay more to borrow, as investors discount their long-run growth prospects. Governments can reduce that premium by implementing green projects that address the risks they actually face, but announcing an intention to do so is not…
Randy Picker on Competition Law, Copyright, and Entertainment
University of Chicago Law School professor Randy Picker passed away this weekend. Saul Levmore, a colleague at the Law School, remembers Randy's contributions to law scholarship and the University. Read it at ProMarket >>
The Dynamic Competition Framework Petit et al. Advocate Is Neither Pro-Enforcement nor Anti-Enforcement. It Doesn’t Exist
The dynamic competition school claims that competition authorities, by analyzing firms’ capabilities, can protect what this school calls dynamic competition. Competition authorities, however, cannot adequately analyze firms’ capabilities. This school, therefore, lacks any framework which the authorities can use to analyze what they call dynamic competition. Any framework to protect dynamic…
Farewell, Randy
University of Chicago Law School professor Randy Picker passed away this weekend. Georgetown professor Filippo Lancieri pens a tribute to his colleague and former PhD advisor. Read it at ProMarket >>
How To Preserve the Online Information Ecosystem in the Presence of Google AI Overviews
In new research, Saharsh Agarwal and Ananya Sen study how Google AI Overviews reduce traffic to content publishers, their impact on consumer experience, and the implications of these findings for platform regulation and copyright and competition law. Read it at ProMarket >>
Anatomy of a Supervisory Failure
For its entire 15-year life as a regional bank, SVB held the same risky bet. The risks were visible the whole time, yet supervisors reacted only once losses had materialized. SVB's collapse is less a story of hidden danger than of a supervisory system that polices process rather than risk. Read it at ProMarket >>
Abortion Bans May Have Changed How People Have Sex
In new research, James Flynn, David Munro, and Caitlin Myers document how sexual behavior has changed in light of total abortion bans enacted after Dobbs vs. Jackson Women’s Health. They find that abortion bans reduced sexual activity and increased contraceptive use, motivated by individuals having an increased awareness of state policy. Read it at ProMarket >>
State Corruption Influences Government Transparency During Elections
In new research, Raymond Fisman, Aron Malatinszky, and Eyüb Yegen find that states with higher levels of corruption are more likely to delay or reject requests for government data required by freedom of information laws in the leadup to elections. Read it at ProMarket >>
“Pay for Half” Offers a Better Remedy for Google’s Search Monopoly
A remedy of “Pay for Half” that limits the share of devices for which Google can pay for default search status, as well as the share of revenue Google can pay its channel parters for that status, offers a middle ground that would help restore competition while preserving revenue for distribution partners, argue Alissa Cooper, Fiona Scott Morton, and Nick Jacobson. Read it at ProMarket >>