Starting in 2013, authors of copyrighted work and their successors will be able to terminate every assignment and license 35 years after execution. These termination rights are inalienable and are expected to have a substantial impact on some industries, and in particular, the music...

Investors, operators, policymakers and other stakeholders need to contemplate the likely market structure for ultrabroadband (UBB) in various markets so that they can make effective investment, operational and policy decisions. There will not be a single, universal UBB market structure. Rather,...

For quite a long time, network industries used to be regarded as (natural) monopolies. This was due to these industries having some special characteristics. Network externalities and economies of scale in particular justified the (natural) monopoly thesis. Recently, however, a trend towards...

The Rule of Reason, which has come to dominate modern antitrust law, allows defendants the opportunity to justify their conduct by demonstrating “procompetitive” effects. Seizing the opportunity, defendants have begun offering increasingly numerous and creative explanations for their...

This article analyses Big Data strategies with network effects. An incumbent network can abuse its market dominance by implementing a Big Data strategy that “shrouds” data collection. Thereby, only “sophisticated” consumers understand that data collection yields a dis-utility while...

This paper develops a framework to systematically study how changes in market conditions affect the equilibrium inequality between heterogeneous agents. By stating our setting as a "competition for market shares", we can derive inequality predictions for vastly different competition models. This...

We show that in the presence of network effects, the effect of new firm entry on the equilibrium prices and demands of incumbent firms is not clear. In contrast to conventional thinking, we find that incumbent firms could use a higher price, have a larger demand, and earn a higher profit in the...

Starting from basic hypotheses on how footprints from hidden orders are interpreted by short-term traders, we derive a fair price model that predicts market impact for non-uniform participation rate schedules. We use this model to derive an optimal execution schedule for a risk-averse trader....

According to received Economic Theory, the implementation of price discrimination by a firm requires market power, at least in the short term. However, mere observation of reality, confirmed by empirical studies, shows that in extremely competitive industries, with approximately zero economic...