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Antitrust and Trade Regulation Commons™
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Full-Text Articles in Antitrust and Trade Regulation
The Case For Doing Nothing About Institutional Investors' Common Ownership Of Small Stakes In Competing Firms, Thomas A. Lambert, Michael E. Sykuta
The Case For Doing Nothing About Institutional Investors' Common Ownership Of Small Stakes In Competing Firms, Thomas A. Lambert, Michael E. Sykuta
Faculty Publications
Recent empirical research purports to demonstrate that institutional investors' "common ownership " of small stakes in competing firms causes those firms to compete less aggressively, injuring consumers. A number of prominent antitrust scholars have cited this research as grounds for limiting the degree to which institutional investors may hold stakes in multiple firms that compete in any concentrated market. This Article contends that the purported competitive problem is overblown and that the proposed solutions would reduce overall social welfare. With respect to the purported problem, we show that the theory of anti-competitive harm from institutional investors' common ownership is implausible …
The Tethered Economy, Aaron K. Perzanowski, Chris Jay Hoofnagle, Aniket Kesari
The Tethered Economy, Aaron K. Perzanowski, Chris Jay Hoofnagle, Aniket Kesari
Faculty Publications
Imagine a future in which every purchase decision is as complex as choosing a mobile phone. What will ongoing service cost? Is it compatible with other devices you use? Can you move data and applications across de- vices? Can you switch providers? These are just some of the questions one must consider when a product is “tethered” or persistently linked to the seller. The Internet of Things, but more broadly, consumer products with embedded software, are already tethered. While tethered products bring the benefits of connection, they also carry its pathologies. As sellers blend hardware and software—as well as product …