In light of the financial crisis and the empirical findings from behavioral economics, policymakers should reconsider the fundamental question: What is competition? Only in understanding competition can one understand what competition can or cannot achieve under certain circumstances. This...

Open banking facilitates data sharing consented by customers who generate the data, with a regulatory goal of promoting competition between traditional banks and challenger fintech entrants. We study lending market competition when sharing banks' customer data enables better borrower screening...

We propose a model of intermediated digital markets where data and heterogeneity in tastes and products are defining features. A monopolist platform uses superior data to match consumers and multiproduct advertisers. Consumers have heterogenous preferences for the advertisers' product lines and...

Digital platforms use recommendations to facilitate the exchange between platform actors, such as trade between buyers and sellers. Platform actors expect, and legislators increasingly require that competition, including recommendations, are fair—especially for a market-dominating platform on...

The Internet has become an integral part of the everyday life of households, firms and governments. Its proper functioning over the long run is therefore crucial for economic growth and people’s wellbeing more generally. The success of the Internet depends on its openness and the confidence of...

We run a market experiment where firms can choose not only their price but also whether to present comparable offers. They are faced with artificial demand from consumers who make mistakes when assessing the net value of products on the market. If some offers are comparable however, some...

Consumer boycotts often provide a disciplinary mechanism against firms deviating from established social norms. Such actions tend to be organized by people through reference groups with a social mission. The intensity of the group identity is, however, private information. Therefore, the...

This study highlights the relationship between the competitive environment in the domestic banking sector and the protection of consumers’ rights and interests. The research is focused on three areas: analysis of the competitive environment, based on detailed analysis of the degree of...

Currently, the European Union finds itself in troubled waters. It has to prove that its benefits outweigh the costs of its endeavour. In this respect, an EU competition policy that focuses on consumer welfare is one way to gain support by the citizens of its member states. The Roaming Regulation...

When firms' shrouding of charges, as in Gabaix and Laibson (2006), meets with consumers' salient thinking, as in Bordalo et al. (2013), this can have severe welfare implications. The ensuing excessive competition for headline prices tends to inefficiently bias consumers' choice towards...