Ep. 510 Brian Albrecht Shows a Flaw in the "Waterbed" Critique of Market Power
From Bob Murphy Show by Robert Murphy
June 7, 2026 · 1h 1m · Episode 510
About this episode
Economist Brian Albrecht discusses a critical flaw in the critique of market power related to consumer harm in mergers.
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.
People in this episode
Host: Robert Murphy
Guest: Brian Albrecht
Topics covered
- market power
- economics
- consumer harm
- mergers
- economic critique
Keywords
- market power
- consumer harm
- mergers
- economics
- Brian Albrecht
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