Federico Etro is Professor of Economics at Ca' Foscari University of Venice. He is an expert of industrial organization and international economics with publications on journals such as American Economic Review, International Economic Review, Economic Journal and others. He holds a Laurea cum laude from the Catholic University of Milan and a Master in Economics from the University of California, Los Angeles, and he has taught at the University of Edinburgh, the University of Milan Bicocca and Luiss in Rome. He has been for ten years economist for Microsoft on antitrust and innovation issues and has been a consultant for other companies and international organizations.
His economic research is focused on understanding what shapes the structure of markets: how many firms can be active in an industry? what should be their market shares and markups? how much incumbents invest in R&D? which are the best financial or contractual strategies? how demand and supply shocks or policymaking affect the market structures and, through them, international trade, business cycle and growth? The research on the theory of endogenous market structures (EMS) provides a general framework to answer these questions through the joint analysis of imperfect competition and endogenous entry decisions. Applications concern endogenous market structure with Monopolistic Competition when Income Matters (2014), EMS and International Trade (2013, Scandinavian Journal of Economics), EMS and Contract Theory (2011, European Economic Review), EMS and Strategic Trade Policy (2011, International Economic Review), EMS and the Business Cycle (2010, Economic Journal), EMS and the Optimal Financial Structure (2010, Canadian Journal of Economics) and more. The essay Innovation by Leaders (2004, Economic Journal) was popularized by the magazine Economist (Slackers or pace-setters?) as a solution to the Arrow's paradox on the incentives to innovate. The first general characterization of the equilibrium behavior of leaders in industries with endogenous entry was developed in Aggressive Leaders (2006, Rand Journal of Economics) and Stackelberg Competition with Endogenous Entry (2008, Economic Journal). Empirical evidence can be found in EMS and Innovation by Leaders: an Empirical Test (2013, Economica).
More recent research has been about the economics of art history during Renaissance and the Baroque period in Italy (The Market for Paintings in Italy during the XVII Century 2012, Journal of Economic History, The Market for Paintings in the Venetian Republic from Renaissance to Rococo, 2013, Journal of Cultural Economics) and in the Dutch Golden Age (The Market for Paintings in the Netherlands during the Seventeenth Century). Etro wrote two books for Springer, Competition, Innovation, and Antitrust (2007) and Endogenous Market Structures and the Macroeconomy (2009) and co-edited for Oxford University Press a volume on Competition Law and the Enforcement of Art. 102 (2011). For additional material click here.