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Professor of Politics and Economics, UNSW Sydney. ARC Future Fellow http://gratton.org http://resilientdemocracylab.org For rocks&cats: http://instagram.com/prof_not_pro
Gabriele Gratton
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In equilibrium, as this paper shows, de facto power tracks standard measures of market power, survives bans, taxes, and technocratic delegation, and can skew innovation toward regulation-resistant technologies. By @grattonecon.bsky.social & @bartonelee2.bsky.social at @ethz.ch buff.ly/fkYG29M
We are hosting a conference in honour of Emeritus Professor Alan Woodland. Join us in celebrating his remarkable and lasting contributions to economics. Registration: www.eventbrite.com.au/e/conference...
MARKET POWER IS POWER New working paper with @bartonelee2.bsky.social Thread below! 1/5 gratton.org/papers/Marke...
MARKET POWER IS POWER New working paper with @bartonelee2.bsky.social Thread below! 1/5 gratton.org/papers/Marke...
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4/5 This means that reforms aimed at curbing campaign finance and lobbying may be missing the key margin of influence. Market power does not simply buy power; it is power!
5/5 Solutions? Institutions that allow for political commitment: supermajoritarian rules, independent oversight, and better ways to govern industry standards.