Preface: In 1776, Adam Smith diagnosed an oversupply in “that unprosperous race of men” called men of letters: “…their numbers are every-where so great as commonly to reduce the price of their labour to a very paltry recompense.” (The Wealth of Nations, Book I, Ch. 10) By the...

The Internet has become an integral part of the everyday life of households, firms and governments. Its proper functioning over the long run is therefore crucial for economic growth and people’s wellbeing more generally. The success of the Internet depends on its openness and the confidence of...

The recent growth of consumer-generated media (CGM), also known as “new” media, has changed the nature of interaction between consumers and firms from unidirectional to bidirectional. However, CGM are almost always present alongside traditional media such as TV advertising. This research...

Since Donald Trump's election at the latest, the (American) media landscape and, with it, democratic media regulation have been facing serious challenges: With the heads of "BigTech" from Silicon Valley, who not only control central media platforms but also increasingly seek political proximity,...