Publications in Refereed Journals

The Ring-Fencing Bonus, (forthcoming), Review of Finance, (with Irem Erten and Ioana Neamtu).

A General Solution to the Quasi Linear Screening Problem  (2024),  Journal of Mathematical Economics. Vol 114. (with Guillaume Carlier, Xavier Dupuis and Jean-Charles Rochet) 

Competition and Misconduct (2023), Journal of Finance, 78(4), 2277-2327.

Stock selling during takeovers, (2020), Journal of Corporate Finance. (with Guillem Ordonez)

Intertemporal Price Discrimination with Two Products, (2019), RAND Journal of Economics, 50(4), 951-973. (With Jean-Charles Rochet)

Optimal Pay Regulation for Too-Big-To-Fail Banks, (2018) , Journal of Financial Intermediation, 33, 83-97. (With Misa Tanaka)

    Also available as a Bank of England working paper.

Real Economy Effects of Short-Term Equity Ownership, (2016), Journal of International Business Studies, 47, 233-254. (with Babak Somekh) [short slides below]

Competition in Posted Prices With Stochastic Discounts, (2016), Economic Journal, 126, 1528-1570. (With David Gill)

Prices, profits, and pass-through of costs along a supermarket supply chain: bargaining and competition, 2015, Oxford Review of Economic Policy, 31, 64-89. (With Howard Smith)

Bank Pay Caps, Bank Risk and Macroprudential Regulation, (2014), Journal of Banking and Finance, 139-151.

Vertical Relations Under Credit Constraints, 2014, Journal of the European Economic Association, 12, 337-367. (With Volker Nocke). Online Appendix.

Industry Structure, Executive Pay and Short-Termism, (2013), Management Science, 59, 402-419.

Upstream Horizontal Mergers and (the Absence of) Retail Price Effects, (2013), Journal of Competition Law and Economics, 9, 395-418. (With Ariel Ezrachi).

The Case For Intervening In Bankers' Pay, (2012), Journal of Finance, 67, 849-895. Internet Appendix.

Upstream Uncertainty And Countervailing Power, (2012), International Journal of Industrial Organization, 30, 483-495. (With Howard Smith).

Is Multimedia Convergence To Be Welcomed?, (2011), Journal of Industrial Economics, 59(2), 225-253.

Optimal Stalling When Bargaining, (2010), Journal of Economic Dynamics and Control, Vol 34, 101-120, lead article.

This Is The Right Time To Regulate Bankers’ Pay, (2009), Economists' Voice, Vol. 6 : Iss. 5, Article 2.

The Impact of Bargaining on Markets with Price Takers: Too Many Bargainers Spoil The Broth (2009), European Economic Review, Volume 53, 658–674 (with David Gill).

Competitive Mixed Bundling and Consumer Surplus, (2007), Journal of Economics and Management Strategy, pp437-467

Haggling Over Substitutes, (2004), Journal of Economic Theory, pp 217-245.

Working Papers

The Problem of Business Evil [Presentation slides]

Ethics and Trust in the Market for Financial Advisors (with Simon Gervais)
Being revised for invited resubmission to the Review of Financial Studies.

Big data and relationship banking with naivety and adverse selection (with Tamas Vadasz)

Regulatory stringency as a competitive tool for financial centres (with Misa Tanaka and Carlos Canon) [Presentation slides]

Moral Ingredients to Financial Misconduct (with Irsa Ajmal and Neil Stewart)