Has the antitrust arsenal run out of novel theories or weapons? Think again. Recent scholarship has come to challenge conventional wisdom with the latest target of antitrust imagination being institutional investors, including diversified index funds. New economic research suggests that common...

A fundamental premise of the strategy field is the existence of persistent firm level differences in resources and capabilities. This property of heterogeneity should express itself in a variety of empirical “signatures”, such as firm performance and arguably systematic and persistent...

To introduce a novel generalization of economies of scope, the paper develops a theory of average cost reductions based on enabling products to have multiple features or functions. The process is labelled economies of score. Focusing production costs on the details of product features can lead...

Some scholars have argued that common ownership, which refers to an investor's simultaneous ownership of small stockholdings in several competing companies, is anticompetitive and prohibited by the U.S. antitrust laws. Proponents of this view target in particular large investment managers that...

The literature shows that horizontal shareholding engenders significant anticompetitive effects and that no suitable instrument exists within European competition law which reliably and effectively can be applied to curtail such intrinsic effects. This Article analyses several proposals which...

We find a U-shaped relation between industry concentration and innovation. The relation is driven by neck-and-neck industries where firms operate with similar productivity. When industry concentration is low, innovation intensity decreases as concentration increases. However, when industry...

Digital disruption is a potent force. Advances in mobile technology and increasing use of social media have quickened the pace of customer adoption, giving rise to the age of digital disruption. It is important to note though that digital disruption is not a net negative force. For every...

Mission critical moats are one of the strongest forms of moats that we come across and also one of the least understood. There are four primary attributes to such moats, namely, product complexity, importance of reputation, low cost in relation to end product's total cost of production, and...

Something old and important is lost sight of in a case like Ohio v. American Express, the Supreme Court's recent adoption of "platform" or "two-sided market" theory in American antitrust, and in theoretical efforts like the one on which it is based. A rarely discussed idea built in to American...

We investigate how asymmetric information on final demand affects strategic interaction between a downstream monopolist and a set of upstream monopolists, who independently produce complementary inputs. We study an intrinsic private common agency game in which each supplier i independently...