Question A:
Industry consolidation and weaker competition in the United States meaningfully constrain innovation and wage growth.
Responses
© 2025. Kent A. Clark Center for Global Markets.
2%
0%
0%
7%
35%
51%
5%
Responses weighted by each expert's confidence
© 2025. Kent A. Clark Center for Global Markets.
0%
8%
32%
53%
7%
Question B:
Americans pay too much for broadband, cable television, and telecommunications services, in part because of a lack of adequate competition.
Responses
© 2025. Kent A. Clark Center for Global Markets.
2%
2%
0%
2%
7%
67%
19%
Responses weighted by each expert's confidence
© 2025. Kent A. Clark Center for Global Markets.
0%
2%
7%
66%
25%
Question A Participant Responses
Participant |
University |
Vote |
Confidence |
Bio/Vote History |
|---|---|---|---|---|
 Daron Acemoglu |
MIT | Bio/Vote History | ||
|
My prior is yes, but we don't have enough evidence. My work doesn't find huge effects from markups to wage growth. But more is needed here.
-see background information here |
||||
 Joseph Altonji |
Yale | Bio/Vote History | ||
|
|
||||
 Alan Auerbach |
Berkeley | Bio/Vote History | ||
|
|
||||
 David Autor |
MIT | Bio/Vote History | ||
|
But the answer differs by sector. Examples. Yes: airlines, wireless/broadband, hospitals. No: retail, restaurants.
|
||||
 Katherine Baicker |
University of Chicago | Bio/Vote History | ||
|
|
||||
 Abhijit Banerjee |
MIT | Bio/Vote History | ||
|
|
||||
 Marianne Bertrand |
Chicago | Bio/Vote History | ||
|
|
||||
 Markus Brunnermeier |
Princeton | Bio/Vote History | ||
|
|
||||
 Raj Chetty |
Harvard | Did Not Answer | Bio/Vote History | |
|
|
||||
 Judith Chevalier |
Yale | Bio/Vote History | ||
 David Cutler |
Harvard | Bio/Vote History | ||
|
|
||||
 Angus Deaton |
Princeton | Bio/Vote History | ||
|
|
||||
 Darrell Duffie |
Stanford | Bio/Vote History | ||
|
|
||||
 Aaron Edlin |
Berkeley | Bio/Vote History | ||
|
|
||||
 Barry Eichengreen |
Berkeley | Bio/Vote History | ||
|
|
||||
 Liran Einav |
Stanford | Bio/Vote History | ||
|
|
||||
 Ray Fair |
Yale | Bio/Vote History | ||
|
|
||||
 Amy Finkelstein |
MIT | Bio/Vote History | ||
|
|
||||
 Pinelopi Goldberg |
Yale | Bio/Vote History | ||
|
|
||||
 Austan Goolsbee |
Chicago | Bio/Vote History | ||
|
Corporate consolidation, record breaking profits & the lowest labor share of national income on record are probably just a coincidence...
|
||||
 Michael Greenstone |
University of Chicago | Bio/Vote History | ||
|
|
||||
 Robert Hall |
Stanford | Bio/Vote History | ||
|
The effect of concentration on market power and innovation is heterogeneous and there is doubt about the net.
|
||||
 Oliver Hart |
Harvard | Bio/Vote History | ||
|
|
||||
 Bengt Holmström |
MIT | Bio/Vote History | ||
|
Easy scaling an important benefit of digital platforms. Ecosystems stimulate innovation. But resulting concentration is a problem.
|
||||
 Caroline Hoxby |
Stanford | Bio/Vote History | ||
|
|
||||
 Hilary Hoynes |
Berkeley | Bio/Vote History | ||
|
Agree that it constrains wage growth, esp for lower skill workers. Uncertain about innovation.
|
||||
 Kenneth Judd |
Stanford | Bio/Vote History | ||
|
|
||||
 Steven Kaplan |
Chicago Booth | Bio/Vote History | ||
|
If true, hard to explain why innovation has been stronger in the US than in Europe.
|
||||
 Anil Kashyap |
Chicago Booth | Bio/Vote History | ||
|
i think it might in some industries, but there are also many where this is not a factor
|
||||
 Pete Klenow |
Stanford | Bio/Vote History | ||
 Jonathan Levin |
Stanford | Bio/Vote History | ||
|
|
||||
 Eric Maskin |
Harvard | Bio/Vote History | ||
|
|
||||
 William Nordhaus |
Yale | Bio/Vote History | ||
|
|
||||
 Maurice Obstfeld |
Berkeley | Bio/Vote History | ||
|
|
||||
 Emmanuel Saez |
Berkeley | Bio/Vote History | ||
|
|
||||
 Larry Samuelson |
Yale | Bio/Vote History | ||
|
|
||||
 José Scheinkman |
Columbia University | Bio/Vote History | ||
|
More evidence for effect on wage growth and prices than on innovation
|
||||
 Richard Schmalensee |
MIT | Bio/Vote History | ||
|
A very strong statement lacking strong enough evidence to support it.
|
||||
 Carl Shapiro |
Berkeley | Bio/Vote History | ||
|
|
||||
 Robert Shimer |
University of Chicago | Bio/Vote History | ||
|
|
||||
 James Stock |
Harvard | Bio/Vote History | ||
|
|
||||
 Richard Thaler |
Chicago Booth | Bio/Vote History | ||
|
|
||||
 Christopher Udry |
Northwestern | Bio/Vote History | ||
|
|
||||
