Publications: Giorgio Castiglia

New research shows that widely cited statistics on concentration, markups, and profits are often plagued by measurement and interpretation difficulties, meaning they cannot reliably be used to prove an economy-wide decline in competition.

A bill proposing ex ante regulation of digital markets in Brazil would harm efficiency and innovation. Given the significance of this bill, the Brazilian legislature should not proceed with a motion to bypass typical civil procedures and debate.

A recent paper finds that mergers and acquisitions (M&As) in which a public company acquires a private company have more positive innovation outcomes than do public-public acquisitions.

Despite evidence to the contrary, a persistent narrative during the past two administrations has been that corporate power is getting increasingly concentrated, ergo antitrust breakups are warranted. But the latest Census Bureau data once again puts the lie to that argument.

A report on inequality commissioned for this year’s G20 summit offers ill-advised antitrust recommendations for reducing income and wealth inequality.

The failure of the Amazon/iRobot transaction, which was opposed by EU and U.S. antitrust authorities, has had catastrophic consequences for the American robotics firm and played into the hands of Chinese robot manufacturing rivals.

Post-deal layoffs and price increases do not prove that an acquisition harmed competition, contrary to the recent rhetoric around the Microsoft/Activision deal.

Economic evidence continues to show positive effects of firm size on innovation. Scale matters for innovation and economic growth, and antitrust policy should not be constrained by the “big is bad” notions of today’s antitrust populists.

Antitrust policy relies too heavily on static models that focus on prices and market shares while treating innovation as external. A dynamic approach that views competition as a process of innovation is better suited to guiding policy in today’s technology-driven economy.

Populists on the right and left continue to peddle myths about the U.S. technology industry and its “Big Tech” firms. Five persistent myths in particular risk spurring regulations that would stifle innovation, slow growth, and weaken U.S. competitiveness.