I am pleased to announce the winners of the 2026 Econometrica prizes. The 2026 Arrow Prize for the best theory paper published in Econometrica in the preceding...

Britain’s relative economic decline throughout the 20th century – the so-called “British disease” – was a national embarrassment that only went away in the 1980s. This column presents new research showing that competition provided the cure. Only when Britain returned to a regime of competition and openness similar to that which had prevailed before World War I did productivity growth resume.