May 13, 2024
American Antitrust Institute and Cohen Milstein announce outstanding contributions to antitrust scholarship
WASHINGTON, D.C. – In recognition of their outstanding contribution to antitrust scholarship, the authors listed below have been selected as recipients of the 22nd Annual Jerry S. Cohen Memorial Fund Writing Award:
- Miguel Antón, Professor of Financial Management, IESE Business School
- Florian Ederer, Allen and Kelli Questrom Professor in Markets, Public Policy & Law, Boston University
- Mireia Giné, Professor and Head of the Financial Management Department, IESE Business School
- Martin C. Schmalz, Professor of Finance, Economics, and Real Estate, University of Oxford Saïd Business School
The award will be presented during the gala luncheon at the American Antitrust Institute’s 25th Annual Policy Conference on May 22, 2024 at the National Press Club in Washington, D.C.
The authors will be honored for their article:
“Common Ownership, Competition, and Top Management Incentives,” 131 Journal of Political Economy 1294 (2023): The authors demonstrate that altered managerial incentives can serve as the mechanism that connects common ownership to softer competition. The predictions generated by their model help explain the existing empirical evidence on the anticompetitive effects of common ownership that thus far has lacked a theoretical explanation. The authors also provide additional empirical support for the previously untested prediction that higher firm-level common ownership leads to less performance-sensitive incentives for CEOs. The article meaningfully advances our understanding of the theory of anticompetitive effects from common ownership by offering a compelling response to the primary criticism of the theory’s detractors: that there is no realistic mechanism by which common ownership could impact firm-level decisions.
The four winners will share the $11,000 prize. Each winner will also receive a specially commissioned and inscribed artwork by Lori Milstein, artist and daughter of Herb Milstein, co-founder of Cohen Milstein Sellers & Toll PLLC.
This year’s award selection committee consisted of Zachary Caplan, Shareholder at Berger Montague; Warren Grimes, Professor of Law at Southwestern Law School; John Kirkwood, Professor of Law at Seattle University School of Law; Roger Noll, Professor Emeritus of Economics at Stanford University; Leslie Marx, Professor of Economics at Duke Fuqua School of Business; Robert Lande, Professor of Law at University of Baltimore School of Law; Daniel H. Silverman, Partner at Cohen Milstein; and Daniel A. Small, Of Counsel at Cohen Milstein.
About the Award
The Jerry S. Cohen Memorial Fund Writing Award was created through a trust established in memory of Jerry S. Cohen, an outstanding trial lawyer and antitrust scholar. The award is administered by the law firm he founded, Cohen Milstein Sellers & Toll PLLC.
The award honors the best antitrust writing published during the prior year that is consistent with the values that animated Jerry S. Cohen’s professional life — a genuine concern for economic justice, the dispersal of economic power, effective limitations upon economic power, and the vigorous enforcement of the antitrust laws.
About Cohen Milstein
Cohen Milstein Sellers & Toll PLLC, a premier U.S. plaintiffs’ law firm, with over 100 attorneys across eight offices, champions the causes of real people – workers, consumers, small business owners, investors, and whistleblowers – working to deliver corporate reforms and fair markets for the common good.
About the American Antitrust Institute
The American Antitrust Institute (AAI) is an independent, nonprofit organization devoted to promoting competition that protects consumers, businesses, and society. AAI serves the public through research, education, and advocacy on the benefits of competition and the use of antitrust enforcement as a vital component of national and international competition policy.