Data portability allows users to transfer data from one online service to another service. As data gets increasingly valuable for online services and users alike, and as data portability will be politically enforced within the European Union by the General Data Protection Regulation (GDPR), we...

This paper examines security design in imperfectly competitive markets in which assets clear separately rather than jointly. Derivatives are generally nonredundant even with zero asset supply. We characterize the scope for introducing nonredundant derivatives and examine the welfare effects of...