I propose and implement a method to divide the collection of private copy remuneration between the authors of text and the authors of images. I propose that the division should be based on the economic value added by text and images in the original work. Using a unique dataset of books and...

This article examines two main strategic tradeoffs a platform firm may face when structuring its content offer. First, we study whether maximizing the amount of content released in exclusivity to the platform complement a strategy aimed at maximizing the content size and variety. Second, we...

Some industries are populated primarily by diversified firms, while other industries are dominated by specialized firms, which are present only in such a given industry. In this study, we analyze what factors determine the dominance of diversified versus specialized firms, and its effect on firm...

We analyze the impact of exogenous changes in competition within one side of a two-sided market on the optimal pricing of both sides. We take into account both its impact through indirect network externalities and its impact through higher competition in the marketplace. We find that...

In this paper I study empirically the industry and firm characteristics that determine the level of corporate antitakeover protection. I find that the level of antitakeover protection is negatively associated with the level of firm-specific organizational capital and with stock market...

One of the contributions of the Chicago School to economic theory is that of underlining the importance of compliance costs on entrepreneurial activity and economic growth. From a business perspective, complying with general regulations and administrative red tape is a costly burden that may...

The Digital Markets Act makes clear choices about important tradeoffs in value to constrain the arbitrary power and dominance of gatekeepers over digital markets and guarantee a more equitable distribution of value with business users. We argue that the extent those objectives will be realized...

We consider the merits of the recent EU’s Digital Markets Act from the perspective of innovation and value creation. We conceptualize innovation as new interactions being created by the digital platform leading to ‘value creation’, in contrast to facilitating existing interactions or...

In November 2020, Apple announced a reduction in the royalty rate applied to small app developers from 30% to 15%. In March 2021, Google followed suit committing to a similar reform. We analyze the implications of these reforms for the distribution of app quality with a stylized model that...