For the most part, competition and antitrust policy literature have focused on large economies. Yet the economic models on which such policies are based do not necessarily apply to small market economies. The book demonstrates that optimal competition policy is very much dependent on the size of...

Not often is a general-purpose technology created that can disrupt numerous markets and significantly affect social welfare. 3D printing fits this description. It promises to improve the quality of some goods and to greatly increase the efficiency of their production processes. More importantly,...

With data rapidly becoming the lifeblood of the global economy, the efficiency of its use significantly affects both social and private welfare. While the volume of data collected has reached astronomical proportions, the fact that most data are collected in a system that is largely modular and...

Big data has become an important resource not only for commerce, but also for governance. Governance-by-data seeks to take advantage of the bulk of data collected by private firms, to make law enforcement more efficient. It can take many forms, including setting enforcement priorities, affecting...

The global race for data-based technological superiority is on. In a world where “data is the new oil,” data-based comparative advantages may affect not only competition between firms but also the balance of power among jurisdictions. In the past two decades China has made important strides...

Recent studies have proven that pricing algorithms can autonomously learn to coordinate prices, and set them at supra-competitive levels. The growing use of such algorithms mandates the creation of solutions that limit the negative welfare effects of algorithmic coordination. Unfortunately, to...

Monopoly pricing per se, that is without need of proof of anti-competitive conduct or intent, is regulated very differently on both sides of the Atlantic, at least in theory. U.S. antitrust law sets a straightforward rule: monopoly pricing, as such, is not regulated. In contrast, under EC law...

Algorithms, especially those based on artificial intelligence, play an increasingly important role in our economy. They are used by market participants to make pricing, output, quality, and inventory decisions; to predict market entry, expansion, and exit; and to predict regulatory moves. In a...

One of the most important market imperfections in modern capitalism and surprisingly one of the most under-regulated is oligopoly pricing (conscious parallelism). Only few suggestions have been made over the years to regulate oligopoly pricing. All suggestions pose serious obstacles to their...

One of the most interesting and challenging phenomena of our information age is the rapid and significant change that takes place in high-technology industries. This change is shaking some of our assumptions regarding the role of technology (e.g., endogenous or exogenous), productions methods...