Researchers' interest in monopsony has increased in recent years. This article reviews the
accumulating evidence that employers have considerable monopsony power. It summarizes …

Labor markets are not perfectly competitive: Monopsony power enables employers to pay
workers less than the marginal revenue product of labor. We review three theoretical …

A product market is concentrated when a few firms dominate the market. Similarly, a labor
market is concentrated when a few firms dominate hiring in the market. Using data from the …

Using data on the near-universe of US online job vacancies collected by Burning Glass
Technologies in 2016, we calculate labor market concentration using the Herfindahl …

Accumulating evidence points to the need for more vigorous antitrust enforcement in the
United States in three areas. First, stricter merger control is warranted in an economy where …

We test whether wage growth slows following employer consolidation by examining hospital
mergers. We find evidence of reduced wage growth in cases where both (i) the increase in …

The Chicago School has had an important place in antitrust analysis since the 1960s. While
its influence has waned considerably among scholars, it continues to find support among …

Thousands of establishments employing millions of workers change ownership each year,
sometimes leading to large changes in local labor market concentration that potentially …

We find that increases in employer concentration causally reduce wages, using a new
instrument for employer concentration based on changes in large firms' national hiring …

Forty years ago, Robert H. Bork published The Antitrust Paradox, which ai-gued forcefully
that antitrust policy should be driven by a principle he named" consumer welfare.", Bork did …