Alexander Galetovic

Research Fellow
Biography: 

Alexander Galetovic is a research fellow at the Hoover Institution. He is also a senior fellow at Universidad Adolfo Ibáñez.

Galetovic research is about the economics of industries and the equilibrium determinants of industry structure. He has written extensively on competition and regulation of infrastructure industries---electricity, telecommunications, water and transport---. His recent book, The Economics of Public-Private Partnerships: A Basic Guide, which he coauthored with Eduardo Engel and Ronald Fischer, is a standard reference of the economics and policy of infrastructure concessions. Together with Engel and Fischer, Galetovic invented the least-present-of-revenue auction, which is routinely used by governments in many countries to procure transport infrastructure through public-private partnerships.

His current research is about the interplay of intellectual property and antitrust in high technology industries like mobile phones, semiconductors, and autonomous vehicles. During the last 50 years technological progress information technology has proceeded at unprecedented speed. Yet antitrust authorities see a constant tension between, on the one hand, intellectual property, patents and the right to exclude, and, on the other hand, intense competition. Indeed, in recent years many antitrust authorities around the world have taken the view that strong intellectual property may put competition and technological progress at risk. Galetovic’s research evaluates this tension critically and quantitatively and suggests that the concern of antitrust authorities is unfounded.

Galetovic is a professor at the Hoover IP2 Summer Institute, and a regular participant and presenter at Hoover IP2 conferences. He has been a Research Scholar at the International Monetary Fund, a Tinker Visiting Professor at Stanford and a Rita-Ricardo National Fellow at the Hoover Institution. He is also listed among Who’s Who Legal Competition Economists. He has been advisor on public-private partnerships to the Chilean government and multilateral organizations such as the World Bank, the Inter-American Development Bank and the OECD.

Galetovic holds a Bachelor’s degree from the Catholic University of and a Ph.D. in economics from Princeton University.

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Recent Commentary

Featured

Technology And The Market For Hypocrisy

by Alexander Galetovic, Stephen Habervia The Hill
Thursday, August 6, 2020

No one likes hypocrisy. But if that is so, why do we observe so much of it? The answer is that there is a market for hypocrisy: There are willing producers and willing consumers; and the cost of transacting among them has fallen to nearly zero.

Analysis and Commentary

Take Care Of The Elderly By Testing Their Caregivers

by Alexander Galetovic, Susana Mondsheinvia The Hill
Wednesday, July 1, 2020

According to the Centers for Disease Control and Prevention, the incidence of COVID-19 deaths among those 65 years old and older is about 200 times that of people younger than 35. Because roughly half of all deaths of seniors occur in nursing homes, both in the United States and abroad, improving sanitary conditions seems to be the straightforward solution to reducing deaths among the elderly.

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Stephen Haber And Alexander Galetovic: Reopening The American Economy: Lessons From Around The World? | Hoover Virtual Policy Briefing

interview with Stephen Haber, Alexander Galetovicvia Hoover Podcasts
Thursday, June 4, 2020

Stephen Haber And Alexander Galetovic Discuss Reopening The American Economy: Lessons From Around The World?

Stephen Haber and Alexander Galetovic: Reopening the American Economy: Lessons from Around the World?

interview with Stephen Haber, Alexander Galetovicvia Hoover Virtual Policy Briefings
Thursday, June 4, 2020

A Hoover Virtual Policy Briefing with Stephen Haber and Alexander Galetovic: Reopening the American Economy: Lessons from Around the World?
Thursday, June 4, 2020 at 11AM PT/ 2PM ET.

Featured

The US Should Follow Sweden's Approach To Combating COVID-19

by Alexander Galetovic, Stephen Habervia The Hill
Tuesday, May 5, 2020

Many governors are refusing to lift their COVID-19 shelter-in-place decrees until long lists of conditions are met. They have phrased their recalcitrance in the language of science. As California’s Gavin Newsom put it: "Science, not politics must be the guide…. We can't get ahead of ourselves .... I don't want to make a political decision. That puts people's lives at risk."

Featured

A Flattened Curve: Now What?

by Alexander Galetovic, Stephen Habervia The Hill
Friday, April 17, 2020

Over the past month, the United States and the rest of the developed world, has locked down the vast majority of their populations in order to “flatten the curve” in the battle against COVID-19. This strategy worked; rates of growth of new infections are falling.

Featured

Chile's Unraveling: Unregulated Capitalism Or Ponderous Government?

by Alexander Galetovic, Stephen Habervia The Hill
Sunday, December 1, 2019

For more than a month, Chile has been engulfed in protests and violence, and the end is not in sight. The unrest is typically attributed to income inequality caused by “excessive free markets.” That diagnosis is wrong and will induce a response that will make matters worse.

FeaturedEconomy

The Big Deception Behind Tariffs And Geopolitics

by Alexander Galetovic, Stephen Habervia The Hill
Sunday, November 3, 2019

China and the United States have been engaged in a 15-month-long trade war, with an end that is not in sight. As parties and candidates gear up for next year’s elections, all manner of claims are being made about the goals of the trade war and its effects. Basic tools of economics and political science can help adjudicate the merits of those claims.

Featured

Hoover IP2 To Convene Conference On Fourth Industrial Revolution In Brussels

quoting Stephen Haber, Richard Sousa, Nicolas Petit, Alexander Galetovicvia Hoover IP2
Tuesday, March 26, 2019

The Fourth Industrial Revolution—the fusion of digital technologies, characterized by big data, artificial intelligence, robotics, smartphones, and autonomous vehicles—will affect how people work, communicate, and travel. Hoover IP² has organized a conference, “Institutions and Regulation for the Fourth Industrial Revolution,” that addresses a core public policy question: What institutions, policies, rules, and regulations will maximize individual benefits and economic surplus as the Fourth Industrial Revolution takes root?

SEP Royalties: What Theory of Value and Distribution Should Courts Apply?

by Alexander Galetovic, Stephen Habervia IP2 Working Paper Series
Saturday, January 5, 2019

Courts are often required to determine the royalty to which the owner of a FRAND-encumbered standard essential patent (SEP) is entitled. We argue that courts should use the observed royalties charged by licensors, the market rental price of assets created by investments in R&D. This “comparables” technique is used to value virtually all classes of assets and is based on the standard theory of value and distribution, price theory.

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