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Ep. 510 Brian Albrecht Shows a Flaw in the “Waterbed” Critique of Market Power

Economist Brian Albrecht explains his discovery of a surprising–but critical–missing link in a popular argument against market power. Specifically, Brian shows that the standard work in this literature doesn’t even allow consumer harm as a possibility of firms merging. Mentioned in the Episode and Other Links of Interest: The YouTube version of this episode. Albrecht’s…