According to current data regulations, consumers are mobile among different markets, which endogenizes market segmentation. When accommodating such strategic interactions, a segmentation is stable if no consumer can find a profitable deviation to another market. In every stable market...

This paper investigates the role of foreign competition and cost asymmetry in influencing privatization policy for domestic firms. With a mixed oligopoly model, we characterize and compare optimal privatization policy, and find that cost asymmetry and foreign competition interact in an...

Artificial intelligence (AI) has been increasingly integrated into the process of matching between workers and employers requesting job tasks on a gig-economy platform. Unlike the conventional wisdom that adopting AI in the matching process always benefits the platform by assigning...

We document the frequent use of stock lockup agreements in mergers and acquisitions (M&As) paid in stock and examine the corporate determinants and consequences of lockups’ use and duration. Lockup agreements prohibit target shareholders from selling shares issued by the acquirer as means of...