José Azar and Isabel Tecu, with Martin C. Schmalz, wrote a paper entitled “Anti-Competitive Effects of Common Ownership.” In this paper, using the airline industry as a laboratory, the authors provide evidence that common ownership by large diversified institutional investors has adverse effects on product market competition.
The politician and the judge: Implications for competition policy
Drawing on the historical evolution of antitrust policy, the authors argue that some increase in politicisation is likely an inevitable result of the expansion...