We extend the workhorse model of network competition to international calls. This model enables us to show that national regulatory authorities (NRAs) maximizing domestic welfare have incentives to increase termination rates above the social optimum to extract rent from international call...

International investment agreements typically permit foreign investors to litigate against host countries (Investor-State Dispute Settlement, ISDS). Yet, common criticism holds that host countries would benefit from allowing only foreign governments to litigate (State-State Dispute Settlement,...

We study commercialization of personal data through personalized advertising by a content platform. Content consumption generates productive data about consumer preferences. The firm invests in artificial intelligence (AI) to improve analytical power and in quality to stimulate content...

In a 'smart' electricity distribution network, flexible distribution resources (FDRs) can be aggregated to improve efficiency in the power market. But aggregation enables whoever controls resources to exercise market power. This paper establishes a ranking of market structures: Independent...

This paper questions whether competition can replace sector-specific regulation of mobile telecommunications. We show that the monopolistic outcome prevails independently of market concentration when access prices are determined in bilateral negotiations. A light-handed regulatory policy can...