Competition policy and product market regulations aim to ensure effective and fair competition to reach efficient outcomes that create a wider choice for consumers while reducing prices and improving quality. In this working package, we analyze the design of competition policy and regulatory tools and their impact on markets and consumers. Policy discussion often presumes that consumers in Europe are better protected against wrongdoings of big companies than in the US. However, even if ex-ante norms generated higher standards benefitting consumers in the EU, protection against the violation of these standards is less developed than in the US. We consider how legal tools, like private enforcement and class actions, may complement ex-ante regulations and regulatory assistance. We further study specific EU regulations, such as the abolition of retail roaming charges and wholesale charge caps for voice calls and data services. The regulatory and competition policy environment not only affects consumers but also prices and firms’ incentives to offer new products. There is little empirical evidence on how intellectual property laws shape the innovation incentives for research active companies as well as competitive dynamics especially with firms that do not innovate. We contribute to the sparse empirical literature by relating patent protection and data exclusivity to observable innovation outcomes. Finally, common ownership through institutional investors such as Black Rock and Vanguard has been dubbed as “the major new antitrust challenge of our time”. Thus, we investigate how the connectivity among firms’ through investors’ holdings may alter their strategic incentives and, specifically, mark-ups and productivity, and new product entry decisions.