# Liad Wagman

> Dean of the Lally School of Management at Rensselaer Polytechnic Institute.

Liad Wagman is Dean of the Lally School of Management at Rensselaer Polytechnic Institute, Professor of Economics, and leads Rensselaer's distance-learning arm, RPI at Work. Previously, he served as Dean at Illinois Institute of Technology's Stuart School of Business, where he led the transformation of the school and launched its distance-learning programs, and as Senior Economic and Technology Advisor at the United States Federal Trade Commission, where he led a major study examining over 1,000 mergers and acquisitions by tech giants including Google, Amazon, Apple, Meta, and Microsoft.

Dean Wagman specializes in industrial organization and policy, focusing on market competition, antitrust, data privacy, artificial intelligence, digital policy, entrepreneurship, and innovation. He has received numerous teaching and research awards, been named to Poet & Quants' Top Business School Faculty, serves as an expert witness in policy litigations, and advises Fortune 500 companies and startups. His research is published in leading outlets across disciplines including economics, finance, law, and marketing.

Contact: wagman@rpi.edu · Lally School of Management, Rensselaer Polytechnic Institute, Troy, NY

## Key pages

- [Research & Publications](https://lwagman.org/research/): all peer-reviewed publications and working papers
- [Policy & Impact](https://lwagman.org/policy/): FTC study, OECD contribution, testimony
- [Curriculum Vitae (PDF)](https://lwagman.org/Wagman_CV.pdf)

## Publications

- "The GDPR and SDK Usage In Android Mobile Apps" (with Ginger Zhe Jin and Ziqiao Liu), Journal of Law & Economics, forthcoming. https://lwagman.org/papers/?p=the-gdpr-and-sdk-usage-in-android-mobile-apps
- "The Hart-Scott-Rodino Act at Fifty: Thresholds, Serial Acquisitions and Industry Dynamics" (with Ginger Zhe Jin, Mario Leccese, Daniel Sokol, and Mengyi Zhong), Competition Policy International, 2026. https://lwagman.org/papers/?p=the-hart-scott-rodino-act-at-fifty-thresholds-serial-acqui
- "Artificial Intelligence and Data Policies: Regulatory Overlaps and Economic Tradeoffs" (with Ginger Zhe Jin and Mengyi Zhong), Network Law Review, 2025. https://lwagman.org/papers/?p=artificial-intelligence-and-data-policies-regulatory-overla
- "Surveillance Pricing: A Cautionary Summary of Potential Harms and Solutions" (with Ginger Zhe Jin and Mengyi Zhong), Competition Policy International, 2025. https://lwagman.org/papers/?p=surveillance-pricing-a-cautionary-summary-of-potential-harm
- "Return-to-Office Policies and AI Knowledge Sharing: A Game-Theoretic Analysis" (with Elizabeth Durango-Cohen and Yidan Sun), Network Law Review, 2025. https://lwagman.org/papers/?p=return-to-office-policies-and-ai-knowledge-sharing-a-game-t
- "Safety Reviews on Airbnb: An Information Tale" (with Aron Culotta, Ginger Zhe Jin, and Yidan Sun), Marketing Science, 45(2), 280–317, 2025. https://lwagman.org/papers/?p=safety-reviews-airbnb
- "Trading Off Convenience and Privacy in Social Login" (with Jin-Hyuk Kim and Peter Newberry), Economics Letters, 2025. https://lwagman.org/papers/?p=convenience-privacy-social-login
- "Can Data Regulation Reshape the Short-Term Rental Market?" (with Ginger Zhe Jin and Mengyi Zhong), Competition Policy International, 2024. https://lwagman.org/papers/?p=can-data-regulation-reshape-the-short-term-rental-market
- "The Effects of Short-Term Rental Regulation: Insights from Chicago" (with Ginger Zhe Jin and Mengyi Zhong), International Journal of Industrial Organization, 2024. https://lwagman.org/papers/?p=the-effects-of-short-term-rental-regulation-insights-from-c
- "Preserving the Institutional Value of the FTC in the Digital Era" (with Ginger Zhe Jin), Review of Industrial Organization, 66, 23–42, 2024. https://lwagman.org/papers/?p=preserving-institutional-value-ftc
- "The Law and Economics of Privacy" (with Daniel Gilman), UCLA Journal of Law and Technology, 29(2), 2024. https://lwagman.org/papers/?p=law-and-economics-of-privacy
- "M&A and Technological Expansion" (with Ginger Zhe Jin and Mario Leccese), Journal of Economics & Management Strategy, 33(2), 338–359, 2024. https://lwagman.org/papers/?p=ma-and-technological-expansion
- "Four Key Questions on Antitrust in Tech for the Next Four Years", ProMarket (Stigler Center, University of Chicago Booth), 2024. https://lwagman.org/papers/?p=four-key-questions-on-antitrust-in-tech-for-the-next-four-ye
- "How Do Top Acquirers Compare in Technology Mergers? New Evidence from an S&P Taxonomy" (with Ginger Zhe Jin and Mario Leccese), International Journal of Industrial Organization, 89, 2023. https://lwagman.org/papers/?p=top-acquirers-technology-mergers
- "M&A and Innovation: A New Classification of Patents" (with Zhaoqi Cheng, Ginger Zhe Jin, Mario Leccese, and Dokyun Lee), American Economic Association Papers & Proceedings, 113, 288–293, 2023. https://lwagman.org/papers/?p=ma-and-innovation-patents
- "Cost-Benefit Analysis Without the Benefits or the Analysis: How Not to Draft Merger Guidelines" (with Luke Froeb and Daniel Sokol), Southern California Law Review, 97, 2023. https://lwagman.org/papers/?p=how-not-to-draft-merger-guidelines
- "The Draft Merger Guidelines Risk Reducing Innovation", ProMarket (Stigler Center, University of Chicago Booth), 2023. https://lwagman.org/papers/?p=the-draft-merger-guidelines-risk-reducing-innovation
- "The Proposed Merger Guidelines and Tech Acquisitions", FTC–DOJ Merger Guidelines Request for Comments, 2023. https://lwagman.org/papers/?p=the-proposed-merger-guidelines-and-tech-acquisitions
- "Comments on Premerger Notification; Reporting and Waiting Period Requirements", Federal Trade Commission and Department of Justice Request for Comments, 2023. https://lwagman.org/papers/?p=comments-on-premerger-notification-reporting-and-waiting-pe
- "International Center for Law & Economics – Amicus Brief in Illumina & Grail v FTC", U.S. Court of Appeals for the Fifth Circuit, 2023. https://lwagman.org/papers/?p=international-center-for-law-economics-amicus-brief-in-i
- "Comments of FTC Alumni, Noncompete Clause Rulemaking", Federal Trade Commission Request for Comments, 2023. https://lwagman.org/papers/?p=comments-of-ftc-alumni-noncompete-clause-rulemaking
- "TechFreedom – Comments on Noncompete Clause Rulemaking", Federal Trade Commission Request for Comments, 2023. https://lwagman.org/papers/?p=techfreedom-comments-on-noncompete-clause-rulemaking
- "International Center for Law & Economics – Comments on Noncompete Clause Rulemaking", Federal Trade Commission Request for Comments, 2023. https://lwagman.org/papers/?p=international-center-for-law-economics-comments-on-nonco
- "Brief of Economists as Amici Curiae in Gonzalez v. Google", U.S. Supreme Court, 2023. https://lwagman.org/papers/?p=brief-of-economists-as-amici-curiae-in-gonzalez-v-google
- "Comments on Request for Information on Merger Enforcement", FTC–DOJ Request for Information on Merger Enforcement, 2023. https://lwagman.org/papers/?p=comments-on-request-for-information-on-merger-enforcement
- "Popular Mobile Apps in The Pandemic Era: A Glimpse at Privacy and Competition" (with Ginger Zhe Jin and Ziqiao Liu), Competition Policy International, 2022. https://lwagman.org/papers/?p=popular-mobile-apps-pandemic-era
- "Towards A Technological Overhaul of American Antitrust" (with Ginger Zhe Jin and Daniel Sokol), American Bar Association, Antitrust, 37(1), 2022. https://lwagman.org/papers/?p=technological-overhaul-american-antitrust
- "State Versus Federal Wiretap Orders: A Look at the Data" (with Jason Chan and Jin-Hyuk Kim), International Review of Law & Economics, 70, 2022. https://lwagman.org/papers/?p=state-versus-federal-wiretap-orders
- "Local Network Effects in the Adoption of a Digital Platform" (with Jin-Hyuk Kim, Peter Newberry, and Ran Wolff), Journal of Industrial Economics, 70(3), 493–524, 2022. https://lwagman.org/papers/?p=local-network-effects-digital-platform
- "Caps on Apps: Why Fee Caps On Food Delivery Platforms Won’t Help (and Will Likely Hurt) Small Restaurants", Data Catalyst Institute, 2022. https://lwagman.org/papers/?p=caps-on-apps-why-fee-caps-on-food-delivery-platforms-won-t
- "Tech Industry Acquisitions and Competition: Counterpoints to an Incomplete FTC Report and Legislation that Relies on It", Data Catalyst Institute, 2022. https://lwagman.org/papers/?p=tech-industry-acquisitions-and-competition-counterpoints-to
- "Non-HSR Reported Acquisitions by Select Technology Platforms, 2010-2019: An FTC Study" (with the FTC Office of Policy Planning), Federal Trade Commission, 2021. https://lwagman.org/papers/?p=non-hsr-acquisitions-ftc-study
- "The Persisting Effects of the EU General Data Protection Regulation on Technology Venture Investment" (with Jian Jia and Ginger Zhe Jin), American Bar Association's Antitrust Source, 2021. https://lwagman.org/papers/?p=persisting-effects-gdpr-venture-investment
- "Data Regulation and Technology Venture Investment: What Do We Learn From GDPR?" (with Jian Jia and Ginger Zhe Jin), Competition Policy International, 2021. https://lwagman.org/papers/?p=data-regulation-venture-investment-gdpr
- "The Short-Run Effects of GDPR on Technology Venture Investment" (with Jian Jia and Ginger Zhe Jin), Marketing Science, 40(4), 661–684, 2021. https://lwagman.org/papers/?p=short-run-effects-gdpr-venture-investment
- "Big Data at the Crossroads of Antitrust and Consumer Protection" (with Ginger Zhe Jin), Information Economics and Policy, 54, 2021. https://lwagman.org/papers/?p=big-data-antitrust-consumer-protection
- "The Value of Technology Releases in the Mobile App Ecosystem: The Economic Impact of Software Developer Kits", Data Catalyst Institute, 2021. https://lwagman.org/papers/?p=the-value-of-technology-releases-in-the-mobile-app-ecosystem
- "The One-Year Impact of the General Data Protection Regulation (GDPR) on European Ventures", Data Catalyst Institute, 2020. https://lwagman.org/papers/?p=the-one-year-impact-of-the-general-data-protection-regulatio
- "Consumer Data Rights and Competition – Note by the United States", OECD Directorate for Financial and Enterprise Affairs, 2020. https://lwagman.org/papers/?p=consumer-data-rights-and-competition-note-by-the-united-st
- "Advertising and Voter Data in Asymmetric Political Contests" (with Priyanka Sharma), Information Economics and Policy, 52, 2020. https://lwagman.org/papers/?p=advertising-voter-data-political-contests
- "Platform, Anonymity, and Illegal Actors: Evidence of Whac-a-Mole Enforcement from Airbnb" (with Jian Jia), Journal of Law and Economics, 63(4), 729–761, 2020. https://lwagman.org/papers/?p=platform-anonymity-illegal-actors-airbnb
- "The Impact of Access to Consumer Data on the Competitive Effects of Horizontal Mergers and Exclusive Dealing" (with Jin-Hyuk Kim and Abraham Wickelgren), Journal of Economics and Management Strategy, 28(3), 373–391, 2019. https://lwagman.org/papers/?p=consumer-data-horizontal-mergers-exclusive-dealing
- "Motivation and Performance of User-Contributors: Evidence from a CQA Forum" (with Jed DeVaro, Jin-Hyuk Kim, and Ran Wolff), Information Economics and Policy, 42(1), 56–65, 2018. https://lwagman.org/papers/?p=user-motivation-multitasking-cqa-forum
- "Data as a Driver of Economic Efficiency", Data Catalyst Institute, 2018. https://lwagman.org/papers/?p=data-as-a-driver-of-economic-efficiency
- "Can Restricting Property Use Be Value Enhancing? Evidence from Short-Term Rental Regulation" (with Jin-Hyuk Kim and Tin Cheuk Leung), Journal of Law and Economics, 60(2), 309–333, 2017. https://lwagman.org/papers/?p=restricting-property-use-short-term-rentals
- "Outsourcing in Place: Should a Retailer Sell Its Store-Brand Factory?" (with Elizabeth Durango-Cohen and Candace Yano), IISE Transactions, 49(4), 442–459, 2017. https://lwagman.org/papers/?p=outsourcing-in-place-store-brand-factory
- "The Economics of Privacy" (with Alessandro Acquisti and Curtis Taylor), Journal of Economic Literature, 54(2), 442–492, 2016. https://lwagman.org/papers/?p=economics-of-privacy
- "Early-Stage Entrepreneurial Financing: A Signaling Perspective" (with Jin-Hyuk Kim), Journal of Banking and Finance, 67(1), 12–22, 2016. https://lwagman.org/papers/?p=early-stage-entrepreneurial-financing
- "Screening Incentives and Privacy Protection in Financial Markets: A Theoretical and Empirical Analysis" (with Jin-Hyuk Kim), RAND Journal of Economics, 46(1), 1–22, 2015. https://lwagman.org/papers/?p=screening-incentives-privacy-financial-markets
- "The 80/20 Rule: Corporate Support for Innovation by Employees" (with Silvana Krasteva and Priyanka Sharma), International Journal of Industrial Organization, 38, 32–43, 2015. https://lwagman.org/papers/?p=8020-rule-corporate-support-innovation
- "Marketing Educational Improvements via International Partnerships under Brain-Drain Constraints" (with Weslynne Ashton), Education Economics, 23(6), 713–734, 2015. https://lwagman.org/papers/?p=marketing-educational-improvements-partnerships
- "Inducing Knowledge Sharing in Teams through Cost-Efficient Compensation Schemes" (with Arjun Chakravarti and Chaohua He), Knowledge Management Research & Practice, 13(1), 71–90, 2015. https://lwagman.org/papers/?p=inducing-knowledge-sharing-teams
- "False-Name-Proof Voting Over Two Alternatives" (with Vincent Conitzer), International Journal of Game Theory, 43(3), 599–618, 2014. https://lwagman.org/papers/?p=false-name-proof-voting-two-alternatives
- "Portfolio Size and Information Disclosure: An Analysis of Startup Accelerators" (with Jin-Hyuk Kim), Journal of Corporate Finance, 29, 520–534, 2014. https://lwagman.org/papers/?p=portfolio-size-information-disclosure-accelerators
- "Consumer Privacy in Oligopolistic Markets: Winners, Losers, and Welfare" (with Curtis Taylor), International Journal of Industrial Organization, 34(1), 80–84, 2014. https://lwagman.org/papers/?p=consumer-privacy-oligopolistic-markets
- "Strategic Obfuscation of Production Capacities" (with Elizabeth Durango-Cohen), Naval Research Logistics, 61(3), 244–267, 2014. https://lwagman.org/papers/?p=strategic-obfuscation-production-capacities
- "Information Acquisition in Competitive Markets: An Application to the US Mortgage Market" (with Jeremy Burke and Curtis Taylor), American Economic Journal: Microeconomics, 4(4), 65–106, 2012. https://lwagman.org/papers/?p=information-acquisition-us-mortgage-market
- "Hide and Seek: Costly Consumer Privacy in a Market with Repeat Purchases" (with Vincent Conitzer and Curtis Taylor), Marketing Science, 31(2), 277–292, 2012. https://lwagman.org/papers/?p=hide-and-seek-costly-consumer-privacy
- "Choosing Fair Lotteries to Defeat the Competition" (with Vincent Conitzer), International Journal of Game Theory, 41(1), 91–129, 2012. https://lwagman.org/papers/?p=choosing-fair-lotteries
- "Intellectual Property Protection and Firm Innovation" (with Yoni Pruzansky), Economics Bulletin, 31(4), 2922–2932, 2011. https://lwagman.org/papers/?p=ip-protection-firm-innovation
- "False-Name-Proofness on Social Networks" (with Vincent Conitzer, Nicole Immorlica, Joshua Letchford, and Kamesh Mungala), Workshop on Internet and Network Economics (WINE), 209–221, 2010. https://lwagman.org/papers/?p=false-name-proofness-social-networks
- "Strategic Betting for Competitive Agents" (with Vincent Conitzer), 7th International Conference on Autonomous Agents and Multiagent Systems (AAMAS), 847–854, 2008. https://lwagman.org/papers/?p=strategic-betting-competitive-agents
- "Optimal False-Name-Proof Voting Rules with Costly Voting" (with Vincent Conitzer), 23rd International Conference on Artificial Intelligence (AAAI), 2008. https://lwagman.org/papers/?p=optimal-false-name-proof-voting-rules

## Working papers

- "Adaptive Antitrust Agency Enforcement and the Use of AI: Legal and Policy Implications" (with Ginger Zhe Jin and Daniel Sokol). https://lwagman.org/papers/?p=adaptive-antitrust-agency-enforcement-and-the-use-of-ai-leg
- "The Signaling Value of Technology Venture Acquisitions" (with Ginger Zhe Jin and Mario Leccese). https://lwagman.org/papers/?p=the-signaling-value-of-technology-venture-acquisitions
- "Serial Acquisitions in Tech" (with Ginger Zhe Jin, Mario Leccese, and Yunfei Wang). https://lwagman.org/papers/?p=serial-acquisitions-in-tech
- "Adaptive Enforcement with AI-Augmented Monitoring" (with Ginger Zhe Jin and Daniel Sokol). https://lwagman.org/papers/?p=adaptive-enforcement-with-ai-augmented-monitoring
- "The Hart – Scott – Rodino Act at Fifty: Acquisition Patterns and Industry Dynamics" (with Ginger Zhe Jin, Mario Leccese, Daniel Sokol, and Mengyi Zhong). https://lwagman.org/papers/?p=the-hart-scott-rodino-act-at-fifty-acquisition-patterns
- "Platform as a Rule Maker: Evidence from Airbnb's Cancellation Policies" (with Jian Jia, Ginger Zhe Jin, and Yidan Sun). https://lwagman.org/papers/?p=platform-as-rule-maker-airbnb-cancellation
- "How Does Privacy Regulation Affect Transatlantic Venture Investment? Evidence from GDPR" (with Jian Jia, Mario Leccese, and Ginger Zhe Jin). https://lwagman.org/papers/?p=transatlantic-venture-investment-gdpr
- "The Differential Effects of Privacy Protections and Digital Ad Taxes on Publisher and Advertiser Profitability" (with Priyanka Sharma and Yidan Sun). https://lwagman.org/papers/?p=privacy-protections-digital-ad-taxes