Javier D.Donna

Associate Professor of Economics

Jeffrey L. Bewkes Family Endowed Chair

Journal Publications:

Last update: July 2025.

1. “The Microsoft Acquisition of Activision: Neither Horizontal nor Vertical”(with B. Alderman and R. Blair). 

Managerial and Decision Economics, forthcoming, DOI: 10.1002/mde.4547. 

○ Available at SSRN: http://dx.doi.org/10.2139/ssrn.5211180

2. “The Illiquidity of Water Markets” (with J. Espin-Sanchez). 

Review of Economic Studies, Forthcoming, DOI: 10.2139/ssrn.2667654

○ Available at SSRN: http://dx.doi.org/10.2139/ssrn.2667654.

○ Additional Material: Online Appendix    Note with Additional Results   Interviews

○ Award: Awarded the Public Utility Research Prize for the Best Paper in Regulatory Economics at the IIOC, April 2016. 

○ Media coverage: Summarized in Europe Now (PDF) special double issue on Water,  Global Water Forum, VOX EU, and News and Updates.

○ Presentations: 2016 NBER Summer Institute Industrial Organization, Barcelona GSE Summer Forum Applied Industrial Organization, Empirical Microeconomics Workshop, among others. 

3. “Direct Sales and Bargaining” (with P. Pereira, Y. Pu, A. Trindade, R. C. Yoshida). 

RAND Journal of Economics, 2024, 55(4): 749–787, DOI: 10.1111/1756-2171.12480. Replication package. 

○ Podcast about the paper (by NotebookLM).

○ Available at SSRN: https://dx.doi.org/10.2139/ssrn.3779962

○ Presentations: Federal Trade Commission Seminar Series, IIOC 2021, NBER SI 2021 Industrial Organization, RedNIE.

4. "Structural Presumptions for Non-Horizontal Mergers in the 2023 Merger Guidelines:
A Primer and a Path Forward" (with P. Pereira).

Review of Industrial Organization, 2024, 65(1):303–345, DOI: 10.1007/s11151-024-09971-z.

○ Podcast about the paper (by NotebookLM).

○ Springer online viewer: https://rdcu.be/dNT0n

○ Available at SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4894991.

5. “Redistributive Politics under Ambiguity”

Social Choice and Welfare, 2024, 62:583–607, DOI: 10.1007/s00355-023-01500-3

○ Available at SSRN: http://dx.doi.org/10.2139/ssrn.4641648

6. “Rivals’ Exit and Vertical Merger Evaluation” (with P. Pereira). 

Journal of Competition Law & Economics, 2023, 19(2): 220–249, DOI: 10.1093/joclec/nhad002.

○ Available at SSRN: http://dx.doi.org/10.2139/ssrn.4365621

○ Article at JCLE: https://academic.oup.com/jcle/advance-article/doi/10.1093/joclec/nhad002/7048903

7. “(Lack of) Competition, Coordination, and Information Sharing in the Pork Industry:

United States, 2009-2020” (with A. Walsh). 

Antitrust Bulletin, 2023, 68(1): 117–136, DOI: 10.1177/0003603X221149367.

○ Available at SSRN: http://dx.doi.org/10.2139/ssrn.4191689

8. “Gender Differences within the Firm: Evidence from Two Million Business Travelers” (with G. Veramendi). 

Journal of Human Resources, 2022, 57(6): 1915-1945, DOI: 10.3368/jhr.58.2.0818-9664R2.

○ Available at SSRN: http://dx.doi.org/10.2139/ssrn.3285202

9. “Measuring the Welfare of Intermediaries” (with P. Pereira, T. Pires, and A. Trindade). 

Management Science, 2022, 68(11): 8083-8115, DOI: 10.1287/mnsc.2021.4266

○ Available at SSRN: http://dx.doi.org/10.2139/ssrn.3285205

○ Additional Material: Online Appendix

○ Award: Awarded Best Paper in the "Market Competition" by Gabinete de Estratégia e Estudos, Portuguese Ministry of Economics, May 2018.

○ Presentations: 2017 Triangle Microeconomics Conference in Honor to Tiago Pires, IIOC, SED, and Barcelona GSE Summer Forum: Consumer Search and Switching Costs, among others.

10. “The Economic Rationale of United States v. Google” (with G. Bet and R. Blair).

Antitrust Bulletin, 2022, 67(1): 23-39, DOI: 10.1177/0003603X211067116

○ Available at SSRN: http://dx.doi.org/10.2139/ssrn.4012827

11. “Measuring long-run gasoline price elasticities in urban travel demand” 

RAND Journal of Economics, 2021, 52(4): 945-994, DOI: 10.1111/1756-2171.12397

○ Available at SSRN: http://dx.doi.org/10.2139/ssrn.3285200

○ Additional Material: Online Appendix

○ Presentations: IIOC; Consumer Search and Switching Costs Workshop (UCLA Anderson School of Management, Marketing Department); Barcelona GSE Summer Forum – Applied Industrial Organization; Stanford Institute for Theoretical Economics (SITE) – Session 3: Empirical Implementation Models of Strategic Interaction and Dynamic Behavior Workshop.

12. “Water theft as social insurance: south-eastern Spain, 1851-1948” (with J. Espin-Sanchez).

Economic History Review, 2021(3), 74: 721-753, DOI: 10.1111/ehr.13047

○ Available at SSRN: http://dx.doi.org/10.2139/ssrn.2667588

13. “Networks, frictions, and price dispersion” (with P. Schenone and G. Veramendi).

Games and Economic Behavior, 2020, 124: 406–431, DOI: 10.1016/j.geb.2020.09.002

○ Available at SSRN: http://dx.doi.org/10.2139/ssrn.2667585

○ Presentations: 2017 NBER Summer Institute.

○ Additional Material: Online Appendix   

14. “Complements and substitutes in sequential auctions: the case of water auctions" (with J. Espin-Sanchez). 

RAND Journal of Economics, 2018, 49(1): 87–127, DOI: 10.1111/1756-2171.12221

○ Available at SSRN: http://dx.doi.org/10.2139/ssrn.2667579

○ Additional Material: Paper at Rand   Online Appendix   Interviews.

○ Awards: Best Paper Award at EARIE (2012) and JEI (2012).

15. “Frictions in internet auctions with many traders: A counterexample” (with P. Schenone and G. Veramendi). 

Economics Letters, 2016, 138: 81-84, DOI: 10.1016/j.econlet.2015.11.033

○ Available at SSRN: http://dx.doi.org/10.2139/ssrn.2667659

16. “Crime and beliefs: Evidence from Latin America” (with R. Di Tella and R. MacCulloch). 

Economics Letters, 2008, 99(3): 566–569, DOI: 10.1016/j.econlet.2007.10.002

○ Available at SSRN: http://dx.doi.org/10.2139/ssrn.2667660

Book Chapter:

17. “Oil, Macroeconomic Volatility, and Crime in the Determination of Beliefs in Venezuela” (with R. Di Tella and R. MacCulloch), in Venezuela Before Chávez: Anatomy of an Economic Collapse, edited by Ricardo Hausmann and Francisco Rodríguez, ISBN: 9780271056319. 

Penn State University Press, 2014, chapter 13, pp. 407-424, DOI: 10.5325/j.ctv14gp2r6.17

○ Available at SSRN: http://dx.doi.org/10.2139/ssrn.2667587

○ Additional Material | Book: https://doi.org/10.5325/j.ctv14gp2r6

Working Papers:

18. “Proving Antitrust Damages in Monopsony Cases,” (with R. Blair and D. Turner).

Revise and resubmit at Journal of Competition Law and Economics. DOI: 10.2139/ssrn.5281123

○ Available at SSRN: http://dx.doi.org/10.2139/ssrn.5281123

19. “Opening Hours and Consumer Behavior: Evidence from GPS Data and Deregulation,”

(with M. Hinnosaar, T. Hinnosaar, and A. Trindade).

○ Available at SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=5339594

Research in Progress:

20. “Algorithmic Pricing, Platforms, and Collusive Pricing,”  
(with G. Gutierrez).

21. “Exit-Inducing Vertical Mergers,”
(with P. Pereira and Y. Pu).

22. “Simultaneous Search, Firm Concentration, and Market Power in Labor Markets,” 

(with N. Sapargali, R. Vejlin, and G. Veramendi).

23. “Quantifying the Welfare Effects in Networked Markets,”

(with J. Boehnke, D. Masterov, and G. Veramendi).

24. “Consideration Sets and Price Dispersion: Evidence from eBay,”

(with J. Boehnke, D. Masterov, and G. Veramendi).

25. “Quantity Discounts, Price Discrimination, and Incentive Compatibility Constraints,” 

(with T. Pires).

Media, Op-Ed, General-Press Publications, and Comments:

26. "A Conversation with John Newman on the 2023 Merger Guidelines, Digital Markets, and Competition Enforcement,"
Alumni Newsletter, May 2025. (Full newsletter here.)

27. “AI, Labor, and Digital Markets: A Conversation with Javier D. Donna on the Future of Antitrust,”

Alumni Newsletter, November 2024. (Full newsletter here.)

In Spanish: “Inteligencia Artificial, Mercados Digitales y de Trabajo:
Una conversación con Javier D. Donna sobre el futuro de las leyes antimonopolio.”

28. “An Anticompetitive Presumption for Exit-Inducing Vertical Arrangements,” (with P. Pereira) | "Rivals’ Exit and Vertical Merger Evaluation," (with P. Pereira)  DOI: 10.2139/ssrn.4709489

Draft Merger Guidelines for Public Comment by the Federal Trade Commission, Docket ID: FTC-2023-0043, Tracking Number: lm7-ttk2-thh7, September 6, 2023. 

○ Available at SSRN: http://dx.doi.org/10.2139/ssrn.4709489

29. “Rivals’ Exit Should Be Incorporated into the Guidelines for Vertical Merger Evaluation,” (with P. Pereira).

ProMarket, Stigler Center, University of Chicago, May 2023.

30. “La salida de rivales debe incorporarse en la evaluación de fusiones verticales,” (with P. Pereira).

Nada es Gratis, Mayo 2023. (In Spanish.)

31. “Female business travelers pay less than their male colleagues because they tend to book earlier.”

The Gainesville Sun, March, 2022.

32. “Intercambio de información y colusión.”

Nada es Gratis, Abril 2023. (In Spanish.)

33. “Female business travelers pay less than their male colleagues because they tend to book earlier.”

The Conversation, February 17, 2022.

○ Featured in: Government Executive, Phys.org, The North Platte Telegraph, Houston Chronicle, New Haven Register, Beaumont Enterprise, The Telegraph, The Intelligencer, Stamford Advocate, among others. 

○ Over 50,000 readers according to The Conversation's analytics.

34. “Impuesto a la gasolina, elasticidades de largo plazo, y consecuencias distributivas.”

Nada es Gratis, Enero 2022. (In Spanish.)

35. “Diferencias de genero dentro de la empresa,” (with G. Veramendi).

Nada es Gratis, Septiembre 2021. (In Spanish.)

36. “Robo de agua como seguro social,” (with J. Espin-Sanchez).

Nada es Gratis, Junio 2021. (In Spanish.)

37. “Water Theft As Social Insurance: Southeastern Spain, 1851-1948,” (with J. Espin-Sanchez). 

The Long Run -- The Economic History Society, Feb 2021.

38. “Are Water Markets Liquid? Evidence from Southeastern Spain,” (with J. Espin-Sanchez).

Europe Now, Issue 23, Special Issue on Water, December, 2018. 

39. “Faculty Profile: Professor Javier D. Donna,” 

Newsletter, The Ohio State University, September 2017. PDF. 

40. “Women Book Business Travel Earlier, Saving Companies Millions,” (with C. Ciobanu, G. Lungu, and G. Veramendi).

Harvard Business Review, April 2016. Product #: H02T6M-PDF-ENG.

○ Featured in The Economist, Fortune, Yahoo! Finance, News and Updates, Slate, Business Travel News, CWT Solutions Group, OnCampus, El Economista, Daily Mail, among others. 

41. “The Illiquidity of Water Markets,” (with J. Espin-Sanchez).

Vox EU, Centre for Economic Policy Research, May 2014. 

42.  “The Illiquidity of Water Markets,” (with J. Espin-Sanchez).

The Global Water Forum, UNESCO Chair in Water Economics, Sep 2014.