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It is standard, even formulaic, for speakers at a conference to say what an honour it is to have been invited to speak there. But for me, at this

A speech delivered at The Meaning of Competition: Assertive Antitrust Enforcement and the Digital Economy conference, organised by the IEA and ITIF

Several recent high-profile merger review cases in the life sciences space have focused on so-called innovation theories of harm—a concern that the merger may decrease the level of innovation activities by the merging parties or their competitors and harm consumer welfare.

Petra Moser Reporting regulation typically aims to improve the functioning of capital markets and to protect firms’ investors and other stakeholders. Despite substantial evidence of capital-market benefits from corporate disclosures (Healy and Palepu 2001), firms frequently oppose disclosure and reporting regulation, arguing that it forces them to reveal proprietary information to their competitors, customers, or suppliers. In particular, reporting regulation could make it harder for firms to reap the gains from innovation and, in turn, hurt their incentives to innovate (Arrow 1962). How se...