Press Release 27/2022

November, 18

The selection committee has awarded the 2022 edition of the AdC Competition Policy Award to an academic paper that presents results indicating that acquisitions of start-ups may have significant anticompetitive effects at the aggregate level.
The selection committee was unanimous in choosing Bruno Pellegrino's work, both for the "innovative methodology used for market delimitation" and for the "relevance of the results on the welfare consequences of increased concentration".
Bruno Pellegrino, Assistant Professor of Finance at the University of Maryland's Smith School of Business, submitted an academic paper entitled "Product Differentiation and Oligopoly: a Network Approach" that "strengthens the argument for reinforcement of the supervision of competition law over these transactions”.
In the 2022 edition, the AdC Competition Policy Award was dedicated to competition economics. The selection committee, chaired by the President of the AdC, Margarida Matos Rosa, included also Luís Cabral (New York University), Massimo Motta (Universitat Pompeu Fabra), Patrick Rey (Toulouse School of Economics) and Pedro Pita Barros (Nova School of Business and Economics).
Launched in 2018, the AdC Competition Policy Award aims to stimulate scientific research in competition. It is awarded in alternate years to works in the fields of competition law and economics.