Scholarship Archives - International Center for Law & Economics

July 20, 2022

European Proposal for a Data Act: A First Assessment

INTRODUCTION AND BACKGROUND On 23 February 2022, the European Commission unveiled its proposal for a Data Act (DA).[1] As declared in the Impact Assessment,[2] the DA complements two other major…

Data Security & Privacy

July 14, 2022

Testing the Hayek hypothesis: Recent theoretical and experimental evidence

Omar Al-Ubaydli & Peter Boettke & Brian Albrecht

Abstract Economists well understand that the work of Friedrich Hayek contains important theoretical insights. It is less often acknowledged that his work contains testable predictions about the nature of market…

Innovation & The New Economy

June 29, 2022

What Have the Intermediaries Ever Done for Us?

Dirk Auer & Lazar Radic

Intermediaries emerge when it would otherwise be too difficult (or too costly) for groups of users to meet and interact. There is thus no guarantee that government-mandated disintermediation — such as that contemplated in the European DMA and the U.S. AICOA bill — will generate net benefits in a given case.

Antitrust & Consumer Protection

June 1, 2022

Central Banks and Real-Time Payments: Lessons from Brazil’s Pix

Julian Morris

Introduction Real-time payments (RTP) are an increasingly popular means by which individuals can send credits from one account to another. Many banks have established internal RTP systems and, in some…

Financial Regulation

June 1, 2022

Relevant Market in the Google AdTech Case

Eric Fruits & Geoffrey A. Manne & Lazar Radic

Digital advertising is the economic backbone of much of the Internet. But complaints have recently emerged from a number of quarters alleging the digital advertising market is monopolized by its largest participant: Google.

Antitrust & Consumer Protection

May 25, 2022

Regulating Payment-Card Fees: International Best Practices and Lessons for Costa Rica

Julian Morris

Executive Summary In 2020, the Legislative Assembly of Costa Rica passed Legislative Decree 9831, which granted the Central Bank of Costa Rica (BCCR) authority to regulate payment-card fees. BCCR subsequently…

Financial Regulation

March 23, 2022

The Digital Markets Act and EU Antitrust Enforcement: Double & Triple Jeopardy

Giuseppe Colangelo

The European Union's Digital Markets Act will intersect with EU and national-level competition law in ways that subject tech platforms to the risk of double jeopardy and conflicting decisions for the same activity.

Antitrust & Consumer Protection

March 7, 2022

What Does the Growth of Intangible Capital Mean for Competition Policy?

Stian Westlake & Jonathan Haskel

Stian Westlake and Jonathan Haskel find that recent changes in interfirm competition are driven not by less competitive markets, but by the growing importance of intangible capital like R&D, brands, software, and organizational development.

Antitrust & Consumer Protection

March 4, 2022

The Effects of Price Controls on Payment-Card Interchange Fees: A Review and Update

Todd Zywicki & Julian Morris & Geoffrey A. Manne

A review of the literature demonstrates that interchange-fee caps do more harm than good, especially for lower-income consumers.

Financial Regulation

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