Question A:
Forcing Amazon to divest Whole Foods now would be in the public interest.
Responses
© 2025. Kent A. Clark Center for Global Markets.
20%
7%
7%
32%
27%
7%
0%
Responses weighted by each expert's confidence
© 2025. Kent A. Clark Center for Global Markets.
14%
46%
28%
12%
0%
Question B:
Acquisitions by large tech platforms where there are risks of anti-competitive effects like those posed by Amazon’s acquisition of Whole Foods should not be permitted.
Responses
© 2025. Kent A. Clark Center for Global Markets.
20%
7%
2%
20%
32%
20%
0%
Responses weighted by each expert's confidence
© 2025. Kent A. Clark Center for Global Markets.
6%
30%
38%
26%
0%
Question C:
Large tech platforms, such as Amazon Marketplace and Google Search, should be designated as ‘platform utilities' and broken apart from any participant on that platform.
Responses
© 2025. Kent A. Clark Center for Global Markets.
20%
10%
2%
20%
24%
22%
2%
Responses weighted by each expert's confidence
© 2025. Kent A. Clark Center for Global Markets.
6%
31%
25%
33%
5%
Question A Participant Responses
Participant |
University |
Vote |
Confidence |
Bio/Vote History |
---|---|---|---|---|
![]() Daron Acemoglu |
MIT | Bio/Vote History | ||
|
||||
![]() Alberto Alesina |
Harvard | Did Not Answer | Bio/Vote History | |
|
||||
![]() Joseph Altonji |
Yale | Bio/Vote History | ||
|
||||
![]() Alan Auerbach |
Berkeley | Bio/Vote History | ||
|
||||
![]() David Autor |
MIT | Bio/Vote History | ||
Where is the market power issue or consumer harm here? Amazon's entry into the grocery business appears pro-competitive to me
|
||||
![]() Katherine Baicker |
University of Chicago | Did Not Answer | Bio/Vote History | |
|
||||
![]() Abhijit Banerjee |
MIT | Bio/Vote History | ||
|
||||
![]() Marianne Bertrand |
Chicago | Bio/Vote History | ||
|
||||
![]() Markus Brunnermeier |
Princeton | Bio/Vote History | ||
|
||||
![]() Raj Chetty |
Harvard | Bio/Vote History | ||
|
||||
![]() Judith Chevalier |
Yale | Bio/Vote History | ||
It's hard to see what anticompetitive effect outweighs the cost of unscrambling the merger & couldn't be addressed w/ a nonstructural remedy
|
||||
![]() David Cutler |
Harvard | Bio/Vote History | ||
|
||||
![]() Angus Deaton |
Princeton | Bio/Vote History | ||
|
||||
![]() Darrell Duffie |
Stanford | Bio/Vote History | ||
|
||||
![]() Aaron Edlin |
Berkeley | Did Not Answer | Bio/Vote History | |
|
||||
![]() Barry Eichengreen |
Berkeley | Bio/Vote History | ||
|
||||
![]() Liran Einav |
Stanford | Bio/Vote History | ||
|
||||
![]() Ray Fair |
Yale | Bio/Vote History | ||
|
||||
![]() Amy Finkelstein |
MIT | Did Not Answer | Bio/Vote History | |
|
||||
![]() Austan Goolsbee |
Chicago | Bio/Vote History | ||
|
||||
![]() Michael Greenstone |
University of Chicago | Bio/Vote History | ||
|
||||
Robert Hall |
Stanford | Bio/Vote History | ||
Deciding would involve a serious analysis. There's a presumption against intervention, especially given WF's small share of the market.
|
||||
![]() Bengt Holmström |
MIT | Bio/Vote History | ||
I suspect there is a need to regulate the scope of platforms, but the issue appears poorly understood. Don't know enough to take a stand.
|
||||
![]() Caroline Hoxby |
Stanford | Did Not Answer | Bio/Vote History | |
|
||||
![]() Hilary Hoynes |
Berkeley | Bio/Vote History | ||
|
||||
![]() Kenneth Judd |
Stanford | Bio/Vote History | ||
On what grounds? What illegal actions have Amazon taken?
|
||||
![]() Steven Kaplan |
Chicago Booth | Bio/Vote History | ||
|
||||
![]() Anil Kashyap |
Chicago Booth | Bio/Vote History | ||
|
||||
![]() Pete Klenow |
Stanford | Bio/Vote History | ||
|
||||
![]() Jonathan Levin |
Stanford | Did Not Answer | Bio/Vote History | |
|
||||
![]() Eric Maskin |
Harvard | Bio/Vote History | ||
|
||||
![]() William Nordhaus |
Yale | Bio/Vote History | ||
|
||||
![]() Emmanuel Saez |
Berkeley | Bio/Vote History | ||
|
||||
![]() Larry Samuelson |
Yale | Bio/Vote History | ||
|
||||
![]() José Scheinkman |
Columbia University | Did Not Answer | Bio/Vote History | |
|
||||
![]() Richard Schmalensee |
MIT | Bio/Vote History | ||
Hard to see the case for unscrambling that omelet without evidence of harm.
|
||||
![]() Carl Shapiro |
Berkeley | Bio/Vote History | ||
On what basis?
|
||||
![]() Robert Shimer |
University of Chicago | Bio/Vote History | ||
|
||||
![]() James Stock |
Harvard | Did Not Answer | Bio/Vote History | |
|
||||
![]() Richard Thaler |
Chicago Booth | Bio/Vote History | ||
|
||||
![]() Christopher Udry |
Northwestern | Bio/Vote History | ||
I'm quite confident that I don't have the information needed to judge this.
|
Question B Participant Responses
Participant |
University |
Vote |
Confidence |
Bio/Vote History |
---|---|---|---|---|
![]() Daron Acemoglu |
MIT | Bio/Vote History | ||
I agree with the general statement, but I’m not sure whether it applies to whole foods
|
||||
![]() Alberto Alesina |
Harvard | Did Not Answer | Bio/Vote History | |
|
||||
![]() Joseph Altonji |
Yale | Bio/Vote History | ||
|
||||
![]() Alan Auerbach |
Berkeley | Bio/Vote History | ||
|
||||
![]() David Autor |
MIT | Bio/Vote History | ||
Yes, anticompetitive mergers should be curtailed. But I don't see how this applies to an online retailer buying a brick and mortar grocer
|
||||
![]() Katherine Baicker |
University of Chicago | Did Not Answer | Bio/Vote History | |
|
||||
![]() Abhijit Banerjee |
MIT | Bio/Vote History | ||
|
||||
![]() Marianne Bertrand |
Chicago | Bio/Vote History | ||
|
||||
![]() Markus Brunnermeier |
Princeton | Bio/Vote History | ||
Ensuring competitiveness is essential, but disruption of existing inefficiencies are also desirable.
|
||||
![]() Raj Chetty |
Harvard | Bio/Vote History | ||
|
||||
![]() Judith Chevalier |
Yale | Bio/Vote History | ||
Non-horizontal mergers can be anticompetitive. Requires very case by case scrutiny.
|
||||
![]() David Cutler |
Harvard | Bio/Vote History | ||
|
||||
![]() Angus Deaton |
Princeton | Bio/Vote History | ||
|
||||
![]() Darrell Duffie |
Stanford | Bio/Vote History | ||
|
||||
![]() Aaron Edlin |
Berkeley | Did Not Answer | Bio/Vote History | |
|
||||
![]() Barry Eichengreen |
Berkeley | Bio/Vote History | ||
|
||||
![]() Liran Einav |
Stanford | Bio/Vote History | ||
|
||||
![]() Ray Fair |
Yale | Bio/Vote History | ||
|
||||
![]() Amy Finkelstein |
MIT | Did Not Answer | Bio/Vote History | |
|
||||
![]() Austan Goolsbee |
Chicago | Bio/Vote History | ||
There would be more agreement here if you used a tech example not groceries. Platforms buying off potential competitors is a big worry
|
||||
![]() Michael Greenstone |
University of Chicago | Bio/Vote History | ||
|
||||
Robert Hall |
Stanford | Bio/Vote History | ||
"Anti-competitive" is a meaningless term. Policy on big platforms needs to be guided by serious consideration of social welfare.
|
||||
![]() Bengt Holmström |
MIT | Bio/Vote History | ||
Looking forward, the scope of dominant platforms should be reviewed carefully.
|
||||
![]() Caroline Hoxby |
Stanford | Did Not Answer | Bio/Vote History | |
|
||||
![]() Hilary Hoynes |
Berkeley | Bio/Vote History | ||
|
||||
![]() Kenneth Judd |
Stanford | Bio/Vote History | ||
A guy leaves a bar and drives away, he may be drunk and kill someone. "Risk" does not justify stopping him. A stronger argument is needed.
|
||||
![]() Steven Kaplan |
Chicago Booth | Bio/Vote History | ||
Risks are not enough. Comes down to costs and benefits, like any other antitrust decision.
|
||||
![]() Anil Kashyap |
Chicago Booth | Bio/Vote History | ||
|
||||
![]() Pete Klenow |
Stanford | Bio/Vote History | ||
|
||||
![]() Jonathan Levin |
Stanford | Did Not Answer | Bio/Vote History | |
|
||||
![]() Eric Maskin |
Harvard | Bio/Vote History | ||
|
||||
![]() William Nordhaus |
Yale | Bio/Vote History | ||
|
||||
![]() Emmanuel Saez |
Berkeley | Bio/Vote History | ||
|
||||
![]() Larry Samuelson |
Yale | Bio/Vote History | ||
|
||||
![]() José Scheinkman |
Columbia University | Did Not Answer | Bio/Vote History | |
|
||||
![]() Richard Schmalensee |
MIT | Bio/Vote History | ||
There is a good argument for a tougher standard, but that threshold seems too tough.
|
||||
![]() Carl Shapiro |
Berkeley | Bio/Vote History | ||
Any risks at all? Merger analysis is a predictive exercise involving tradeoffs. What risks regarding Amazon and Whole Foods?
|
||||
![]() Robert Shimer |
University of Chicago | Bio/Vote History | ||
|
||||
![]() James Stock |
Harvard | Did Not Answer | Bio/Vote History | |
|
||||
![]() Richard Thaler |
Chicago Booth | Bio/Vote History | ||
|
||||
![]() Christopher Udry |
Northwestern | Bio/Vote History | ||
Likely to vary by case.
|
Question C Participant Responses
Participant |
University |
Vote |
Confidence |
Bio/Vote History |
---|---|---|---|---|
![]() Daron Acemoglu |
MIT | Bio/Vote History | ||
Generally yes. But the principle formulated here may be too broad
|
||||
![]() Alberto Alesina |
Harvard | Did Not Answer | Bio/Vote History | |
|
||||
![]() Joseph Altonji |
Yale | Bio/Vote History | ||
|
||||
![]() Alan Auerbach |
Berkeley | Bio/Vote History | ||
|
||||
![]() David Autor |
MIT | Bio/Vote History | ||
I think this is worth debating. But I'm far from certain it should occur
|
||||
![]() Katherine Baicker |
University of Chicago | Did Not Answer | Bio/Vote History | |
|
||||
![]() Abhijit Banerjee |
MIT | Bio/Vote History | ||
|
||||
![]() Marianne Bertrand |
Chicago | Bio/Vote History | ||
|
||||
![]() Markus Brunnermeier |
Princeton | Bio/Vote History | ||
|
||||
![]() Raj Chetty |
Harvard | Bio/Vote History | ||
|
||||
![]() Judith Chevalier |
Yale | Bio/Vote History | ||
However, the contractual practices of platforms (such as MFNs) warrant more scrutiny.
|
||||
![]() David Cutler |
Harvard | Bio/Vote History | ||
|
||||
![]() Angus Deaton |
Princeton | Bio/Vote History | ||
|
||||
![]() Darrell Duffie |
Stanford | Bio/Vote History | ||
|
||||
![]() Aaron Edlin |
Berkeley | Did Not Answer | Bio/Vote History | |
|
||||
![]() Barry Eichengreen |
Berkeley | Bio/Vote History | ||
|
||||
![]() Liran Einav |
Stanford | Bio/Vote History | ||
|
||||
![]() Ray Fair |
Yale | Bio/Vote History | ||
|
||||
![]() Amy Finkelstein |
MIT | Did Not Answer | Bio/Vote History | |
|
||||
![]() Austan Goolsbee |
Chicago | Bio/Vote History | ||
|
||||
![]() Michael Greenstone |
University of Chicago | Bio/Vote History | ||
is it enough to regulate the contractual practices of platforms?
|
||||
Robert Hall |
Stanford | Bio/Vote History | ||
An analysis would require consideration of the incentives to create new dominant platforms, which would obviously be impaired by regulation.
|
||||
![]() Bengt Holmström |
MIT | Bio/Vote History | ||
I'm not prepared to be so categorical.
|
||||
![]() Caroline Hoxby |
Stanford | Did Not Answer | Bio/Vote History | |
|
||||
![]() Hilary Hoynes |
Berkeley | Bio/Vote History | ||
|
||||
![]() Kenneth Judd |
Stanford | Bio/Vote History | ||
I have seen no reason why such s strong measure is needed instead of rational, fact-based regulation.
|
||||
![]() Steven Kaplan |
Chicago Booth | Bio/Vote History | ||
History suggests such businesses succumb to competitors eventually -- like IBM and Microsoft. And any remedy may be worse than status quo.
|
||||
![]() Anil Kashyap |
Chicago Booth | Bio/Vote History | ||
|
||||
![]() Pete Klenow |
Stanford | Bio/Vote History | ||
|
||||
![]() Jonathan Levin |
Stanford | Did Not Answer | Bio/Vote History | |
|
||||
![]() Eric Maskin |
Harvard | Bio/Vote History | ||
|
||||
![]() William Nordhaus |
Yale | Bio/Vote History | ||
|
||||
![]() Emmanuel Saez |
Berkeley | Bio/Vote History | ||
|
||||
![]() Larry Samuelson |
Yale | Bio/Vote History | ||
Technology has created a new type of "natural monopoly" that calls for a new understanding and a new competition policy.
|
||||
![]() José Scheinkman |
Columbia University | Did Not Answer | Bio/Vote History | |
|
||||
![]() Richard Schmalensee |
MIT | Bio/Vote History | ||
The basic idea has merit, but there would be efficiency costs, and more analysis is clearly necessary.
|
||||
![]() Carl Shapiro |
Berkeley | Bio/Vote History | ||
This statement is far too incomplete and ambiguous for me to answer with any confidence, one way or the other.
|
||||
![]() Robert Shimer |
University of Chicago | Bio/Vote History | ||
|
||||
![]() James Stock |
Harvard | Did Not Answer | Bio/Vote History | |
|
||||
![]() Richard Thaler |
Chicago Booth | Bio/Vote History | ||
|
||||
![]() Christopher Udry |
Northwestern | Bio/Vote History | ||
Increasing returns makes a plausible case for it, but the dangers if inhibiting tech change are also real.
|