Honors Project - Open Access
U.S. industries have become more consolidated over the past decades. This trend has raised concerns regarding its impact on society. This paper delves into the connection between market concentration and political outcomes. By integrating lobbying data from the Center for Responsive Politics with industry-wide economic data from 2003 to 2019, I utilize several multivariate models to investigate the link between concentration and lobbying expenditures at the aggregate U.S. industry level. I also conduct three representative industry case studies: commercial banks, airlines, and general merchandise stores. The results are mixed. While there is a negative association between market concentration and lobbying expenditures in the overall and airline industry studies, there is a positive relationship in the case of general merchandise stores. I further suggest potential avenues for future research and antitrust policy.
Cao, Xueyan, "Market Concentration and Political Outcomes" (2023). Economics Honors Projects. 115.
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