Gabriel A. Lozada is an associate professor of economics at the University of Utah, where he teaches courses in microeconomic theory, natural resource economics, and environmental economics. He grew up in Baton Rouge, Louisiana and attended Louisiana State University, where he received a BA in Economics and a BS in Physics. He then attended Stanford University, receiving there an MA in Economics, an MS in Engineering-Economic Systems, and a Ph.D. in Economics. His areas of research mostly include ecological economics and economic models of sustainability, both environmental sustainability and sustainable investment and consumption paths during an individual’s life cycle. He has also modeled the financing burdens imposed by large proposed water development projects in Utah.
By this expert
ProMarket’s new “Addendum to Retraction,” written it appears in response to our recent INET post, doubles down on its critique of our piece which showed that it is feasible for increased output to lead to reduced welfare. The ProMarket addendum is notable for its economic errors.*
Economists had to distort economic theory to fashion their merger “efficiency” arguments
By permitting business definitions of “efficiency” to leak over into the antitrust lexicon, antitrust scholars have done a great disservice
ProMarket and the Consumer Welfare Standard An output increase is not sufficient to increase welfare. Allocation—how goods are distributed—matters.