Issues

How Innovative Are Innovations? A Multidimensional, Survey-Based Approach

Innovation can be difficult to measure, and some major technical advances have less impact on social welfare than expected. Surveys of innovation should consider five key factors in assessing the importance of an innovation.

Restrictions on Privacy and Exploitation in the Digital Economy: A Market Failure Perspective

Digital platforms collect consumer data by default. Changing the default setting to require to consumers to “opt-in” to allow use of their data could create a market in data, but large platforms would still enjoy too much market power.

Antitrust Policy Toward Patent Licensing: Why Negotiation Matters

Some are concerned that patents for complex innovations give rise to problems such as royalty stacking or patent thickets. However, empirical data shows that patent pools and negotiation of patent licenses tend to eliminate these concerns.

Understanding AI Collusion and Compliance

Artificial intelligence (AI) allows firms to adopt new types of anti-competitive behavior, but may also aid in the detection of such behavior. AI collusion could include non-price elements, such as product reviews and ratings.

The Brussels Effect: How the European Union Rules the World

Popular commentators often predict the failure of the European Union (EU), but data shows that the European Union exercises global regulatory power and enjoys continued relevance.

Harming Competition and Consumers under the Guise of Protecting Privacy: An Analysis of Apple’s iOS 14 Policy Updates

Apple’s iOS 14 update claims to protect privacy by requiring consumers to opt in to allow data sharing by third-party apps. But this unfairly advantages Apple’s own products.

Root and Branch Reconstruction: The Modern Transformation of U.S. Antitrust Law and Policy?

Advocates for the transformation of antitrust policy in the United States support the revival of egalitarian goals for enforcers. Reformers have gained in influence, but several factors will limit their impact.

GDP-B: Accounting for the Value of New and Free Goods

Current methods fail to capture the value of new and free goods to national productivity. A new framework, GDP-B, better measures the benefits of these goods.

Innovation Matters: Competition Policy for the High-Technology Economy

Antitrust authorities should adapt their analysis to protect innovation and future competition. High-tech firms may use strategic acquisitions or product design to exclude competitors.

The Value of Incumbency When Platforms Face Heterogeneous Customers

Policymakers are unsure how much competition between platforms like Microsoft or Apple is possible or desirable. Consumers are reluctant to switch platforms, giving incumbent firms an advantage.