Working papers

• The Effects of Short-term Rental Regulation: Insights from Chicago, with Liad Wagman and Mengyi Zhong, November 2023, SSRN working paper # 4638022.

• Safety Reviews on Airbnb: An Information Tale, with Yidan Sun and Liad Wagman, January 2024, NBER working paper #31855.

• Preserving the Institutional Value of the FTC in the Digital Era, with Liad Wagman, December 2023, SSRN working paper #4669738.  

• Does Human-algorithm Feedback Loop Lead to Error Propagation? Evidence from Zillow’s Zestimate, with Meng Liu and Runshan Fu, June 2023, NBER working paper #29880.

• Designing Quality Certificates: Insights from eBay, with Xiang Hui and Meng Liu, January 2022, NBER working paper #29674.

• Flagship Entry in Online Marketplaces, August 2023, with Zhentong Lu, Xiaolu Zhou and Lu Fang, NBER working paper #29239.

• Platform as a Rule Maker: Evidence from Airbnb's Cancellation Policies, May 2022, with Jian Jia and Liad Wagman, NBER working paper #28878.

• GDPR and the Localness of Venture Investment, Jan. 2020, with Jian Jia and Liad Wagman, SSRN working paper #3436535.

• Protecting Consumers in Privacy and Data Security: A Perspective of Information Economics, May 2017, with Andrew Stivers, SSRN working paper #3006172.

• More Trusting, Less Trust? An Investigation of Early E-commerce in China, Jul. 2014, with Hongbin Cai, Li-an Zhou and Chong Liu, NBER working paper #18961.

Publications

• Can Data Regulation Reshape the Short-Term Rental Market?, with Liad Wagman and Mengyi Zhong, February 2024, CPI Antitrust Chronicle.

• The Draft Merger Guidelines Risk Reducing Innovation, with Mario Leccese and Liad Wagman, Promarket (Blog), October 18, 2023. 

• M&A and Innovation: A New Classification of Patents, May 2023, with Zhaoqi Cheng, Mario Leccese, Dokyun Lee and Liad Wagman, American Economic Association Papers & Proceedings, May 2023, Volume 113, pp 288-93.

• M&A and Technological Expansion, with Mario Leccese and Liad Wagman, forthcoming Journal of Economics & Management Strategy, 2023. 

• Popular Mobile Apps in the Pandemic Era: A Glimpse at Privacy and Competition, with Ziqiao Liu and Liad Wagman, CPI Antitrust Chronicle, December 2022. 

• Towards A Technological Overhaul of American Antitrust, with D. Daniel Sokol and Liad Wagman, Antitrust, Vol. 37, No. 1, Fall 2022.

  • Winner, 2024 Antitrust Writing Awards: Academic Articles, General Antitrust.

• How Do Top Acquirers Compare in Technology Mergers? New Evidence from an S&P Taxonomy, with Mario Leccese and Liad Wagman, NBER working paper #29642, International Journal of Industrial Organization, special issue of CRESSE, July 2023. 

  • Finalist, 2024 Antitrust Writing Awards: Academic Articles, Mergers.

• Market Expanding or Market Stealing? Competition with Network Effects in Bike-Sharing, May 2021, with Guangyu Cao, Xi Weng and Li-an Zhou, NBER working paper #24938, RAND Journal of Economics, Winter 2021, 52(4): 778-814.

  • Summary on Vox (11/9/2018)

• The Effects of Government Licensing on E-commerce: Evidence from Alibaba, with Zhentong Lu, Xiaolu Zhou and Chunxiao Li, Journal of Law & Economics, special issue in memory of Harold Demsetz, Vol. 65, No. S1, February 2022, also available as NBER working paper #27884.

• Data Regulation and Technology Venture Investment: What Do We Learn From GDPR? with Jia Jian and Liad Wagman, Competition Policy International Antitrust Chronicle, Winter 2021, Vol. 1, No. 1.

• The Short-Run Effects of GDPR on Technology Venture Investment, Nov. 2019, with Jian Jia and Liad Wagman, NBER working paper #25248, Marketing Science, June-August 2021.

  • Wall Street Journal (1/31/2024)

• Big Data at the Crossroads of Antitrust and Consumer Protection, Apr. 2020, with Liad Wagman, based on my keynote at the 16th ZEW Conference on the Economics of Information and Communication Technology in Mannheim, Germany (June 2018), forthcoming the Special Issue on Antitrust in the Digital Economy, Information Economics and Policy. 

• Direct-to-Consumer Advertising and Online Search, with Matthew Chesnes, Information Economics and Policy, 2019, vol. 46(C), pages 1-22.

• Artificial Intelligence and Consumer Privacy, chapter in Economics of Artificial Intelligence, edited by Ajay K. Agrawal, Joshua Gans and Avi Goldfarb, NBER. 

• Aggregation of Consumer Ratings: An Application to Yelp.com, with Weijia (Daisy) Dai, Jungmin Lee, and Michael Luca, Quantitative Marketing and Economics, September 2018, vol. 16(3), pages 289-339. 

• Banning Foreign Pharmacies from Sponsored Search: The Online Consumer Response, with Matthew Chesnes and Weijia (Daisy) Dai, Marketing Science, November-December 2017, 36(6): 879-907. 

  • Highlights by INFORMS

• The Information Value of Online Social Networks: Lessons from Peer-to-Peer Lending, with Seth Freedman, International Journal of Industrial Organization, March 2017, 51: 185-222.

• Platform Pricing at Sportscard Conventions, with Marc Rysman, Journal of Industrial Economics, December 2015, 63(4): 704-735. 

  • Press article in New York Times (4/21/2012)

• Seller Reputation: From Word-of-Mouth to Centralized Feedback, with Hongbin Cai, Li-an Zhou and Chong Liu, International Journal of Industrial Organization, May 2014, volume 34, page 51-65.

• Dividing Online and Offline: A Case Study, with Andrew Kato, Review of Economic Studies (July 2007) Vol. 74(3), 981-1004.

  • Press articles in Toronto Star (June 8, 2013).

• Price, Quality and Reputation: Evidence From An Online Field Experiment, with Andrew Kato, RAND Journal of Economics.  Winter 2006, Vol. 37 No.4.