Analyses of Market Structures

Résumé du livre

This paper contains three chapters which each develops a new economic model to investigate a question related to market structure. The first chapter develops a search-theoretic model of competing platforms that profit from targeted advertising to understand the impacts of policies, such as those on consumer data and platform interoperability, on this market's function. The second chapter, based on joint work with Darrell Duffie, investigates the welfare implications of the growing fragmentation of trade across lit exchanges. The third chapter investigates the optimal design of a market for trade of a financial asset.