We provide an in-depth study of short-term rental (STR) regulation in Chicago. While many municipalities choose between outright bans or laissez-faire strategies concerning STR activities, Chicago pioneered a middle-ground ordinance, enabling the market to exist with limitations and...

The influence of firms' ability to employ individualized pricing on the welfare consequences of horizontal mergers is examined in location models. In a two-to-one merger, the merger reduces consumer surplus more when firms can price discriminate based on individual preferences compared to when...

We examine how investors' tendency to invest locally interacts with Europe's General Data Protection Regulation (GDPR). Using five-year investment data, we demonstrate that GDPR differentially affects investors as a function of their proximity to ventures. We show that GDPR's rollout in May 2018...

We examine how public firms listed in North American stock exchanges acquire technology companies during 2010-2020. Combining data from S&P, Refinitiv, Compustat, and CRSP, and utilizing a unique S&P taxonomy that classifies tech M&As by tech categories and business verticals, we show that 13.1%...

Recent outcry for antitrust reform argues that U.S. markets have become more concentrated, that large firms’ profit margins have increased, and that part of these changes may be attributed to lax antitrust enforcement since the 1960s. While each of these arguments is part of an intense...

When a firm can recognize its previous customers, it may use information about their past purchases to price discriminate. We study a model with a monopolist and a continuum of heterogeneous consumers, where consumers have the ability to maintain their anonymity and avoid being identified as...