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.
Data sharing in hybrid marketplaces with endogenous fee setting
The issue is especially timely given provisions in the EU’s Digital Markets Act (DMA) designed to expand access to data held by large digital platforms. The...