Discover 5 opportunities in Inflation

Competition is one of the foundational concepts in economics. We’re taught in intro courses that competition lowers prices, because it allows markets to allocate resources efficiently. This is an example of Adam Smith’s “invisible hand” in action, a cornerstone of economic theory.But does competition always lower prices? The answer is, yes, sort of — it just depends on the degree of competition.Since that answer probably doesn’t satisfy anybody, let’s dig deeper.

Michael Weber, a globally recognized economist renowned for his work on household finance and macroeconomic expectations, has been awarded the eminent Alexander von Humboldt Professorship and is set to join ESMT Berlin. This marks a milestone for ESMT, as it becomes the first German business school to receive this prestigious research honor.