The effects of (private, small-scale) copying on the pricing behavior of producers of information goods are studied within a unified model of vertical di¤erentiation. Although information goods are assumed to be perfectly horizontally differentiated, demands are interdependent because the...

This paper describes the different forces that shape the market structure of four different "online platform ecosystems" and the competition between them. The paper focuses on the following categories of platforms, which represent a wide scope of online activities: (i) e-commerce marketplaces;...

The effects of (private, small-scale) piracy on the pricing behavior of producers of information goods are studied within a unified model of vertical differentiation. Although information goods are assumed to be perfectly differentiated, demands are interdependent because the copying technology...

As finding breakthrough small-molecule drugs gets harder, drug companies are increasingly turning to “large molecule” biologics. Although biologics represent many of the most promising new therapies for previously intractable diseases, they are extremely expensive. Moreover, the pathway for...

The Opinion of Advocate General (‘AG’) Rantos in Servizio Elettrico Nazionale goes to the core of Article 102 TFEU. What is an abuse? What type of conduct is abusive? When does abusive conduct take place? What are the goals pursued by the prohibition of abuse of dominance, and who should be...

We provide novel evidence that deposit competition incentivizes banks to securitize loans. Exploiting the state-specific removal of deposit market caps across the U.S. as an exogenous source of competition, we document a 7.1 percentage point increase in the probability that banks securitize...

The literature on the licensing of an innovation has mainly focused on some specific contract types. We show within the framework of a fairly general model that removing these contractual limitations will lead to extreme market outcomes. Specifically, we find that when the patentee can employ...

In this paper we examine the effect of cooperation between complementary incumbent monopolists on consumer welfare. While divided technical leadership makes it difficult for firms to integrate into complementary markets, firms induce entry in complementary markets by reducing the cost of entry...

A growing number of empirical studies measure how extended copyright terms negatively affect the number of book titles in print. Many of these same studies also demonstrate significant differences in the pricing of bound volumes, ebooks, and audio books editions of public domain and copyrighted...

We provide novel evidence that deposit competition incentivizes banks to securitize loans. Exploiting the state-specific removal of deposit market caps across the U.S. as an exogenous source of competition, we document a 7.1 percentage point increase in the probability that banks securitize...