When it comes to promoting the consumer welfare, competition law has a key role to play. Due to the conduct of some tech giants, consumer welfare has been negatively affected. Thus, this paper attempts to examine those practices that have a direct impact on customer welfare and the highlight the...

We study how experts influence consumer behavior and welfare by focusing on the Booker Prize. Leveraging the discontinuity created by the attribution of the prize, we show that readers receive the signal sent by the jury of the Booker and are persuaded to buy the awarded book but experience...

In this paper we outline how a future change in consumers' willingness-to-pay can be accounted for in a consumer welfare effects analysis in antitrust. Key to our solution is the prediction of preferences of new consumers and changing preferences of existing consumers in the future. The...

We propose a formal re-definition of the concept market failure based on the idea of the imperfect state. In the Neo-classical taxonomy, a decentralized regime of exchange is a market failure if its laissez faire equilibrium solution is welfare-dominated by a technically feasible alternative. If...

We propose a formal re-definition of the concept market failure based on the idea of the imperfect state. In the Neo-classical taxonomy, a decentralized regime of exchange is a market failure if its laissez faire equilibrium solution is welfare-dominated by a technically feasible alternative. If...

Interest rate caps, also called usury ceilings, are a widely used policy tool to protect consumers from excessive charges by loan providers. However, they are often cited as a barrier for the advancement of financial inclusion, as they may reduce the incentives to provide loans to lower-income...