Online First Journal of Political Economy Online 15 Jun 2026Online Business Models, Digital Ads, and User WelfareDaron Acemoglu · Daniel Huttenlocher · Asuman Ozdaglar · James SideriusAcemoglu, Huttenlocher, Ozdaglar, and Siderius develop a two-sided platform model to study the welfare consequences of digital advertising as an online business model. The platform intermediates …