Similar Search Results

Under threat: potential competition, litigation and the private value of patent protection

Lanjouw, Jean Olson - London School of Economics (LSE) - 1992

This paper investigates the effect of the threat and occurrence of patent litigation on the private value of patent …

Persistent link: https://www.econbiz.de/10010928754

Olson Lanjouw, Jean; Schankerman, Mark - London School of Economics (LSE) - 2001

: advantages in settlement are exercised quickly, before extensive legal proceedings consume both court and firm resources. But it … resolution of their suits. However, our estimates of the heterogeneity in litigation risk can facilitate development of private … patent litigation to mitigate this adverse effect of high enforcement costs …

Persistent link: https://www.econbiz.de/10011071139

Land distribution, incentives and the choice of production techniques in Nicaragua

Bandiera, Oriana - London School of Economics (LSE) - 2002

Does the distribution of land rights affect the choice of contractible techniques? I present evidence suggesting that Nicaraguan farmers are more likely to grow effort-intensive crops on owned rather than on rented plots. I consider two theoretical arguments that illustrate why property rights...

Persistent link: https://www.econbiz.de/10010928686

Anti-evasion auditing policy in the presence of common income shocks

Sanchez-Villalba, Miguel - London School of Economics (LSE) - 2006

When fairly homogeneous taxpayers are affected by common income shocks, a tax agency’s optimal auditing strategy consists of auditing a low-income declarer with a probability that (weakly) increases with the other taxpayers’ declarations. Such policy generates a coordination game among...

Persistent link: https://www.econbiz.de/10010928739

Block-booking and IPO share allocation: the importance of being ignorant

Gondat-Larralde, Celine; James, Kevin R. - London School of Economics (LSE) - 2004

Given the opportunity to buy IPO shares of uncertain value at a fixed price, potentially informed investors have an incentive to refuse to participate in offerings the underwriter happens to overprice. We show that an underwriter can efficiently resolve this problem by entering into a repeat...

Persistent link: https://www.econbiz.de/10010745055

IPO underpricing during the boom: a block-booking explanation

James, Kevin R. - London School of Economics (LSE) - 2004

A bank can efficiently underwrite individually difficult to value IPOs by offering them as a package deal to a stable coalition of investors (block-booking). Block-booking banks set offer prices to equalize downside risk across their offerings, not expected returns. Examining US IPOs over the...

Persistent link: https://www.econbiz.de/10010745328

Efficiency properties of rational expectations equilibria with asymmetric information

Rahi, Rohit; Gottardi, Piero - London School of Economics (LSE) - 2001

In this paper we provide a characterization of the welfare properties of rational expectations equilibria of economies in which, prior to trading, agents have some information over the realization of uncertainity. We study a model with asymmetrically informed agents, treating symmetric...

Persistent link: https://www.econbiz.de/10010745753

Labor market reforms, job instability, and the flexibility of the employment relationship

Matouschek, Niko; Ramezzana, Paolo; Robert-Nicoud, … - London School of Economics (LSE) - 2008

We endogenize separation in a search model of the labor market and allow for bargaining over the continuation of employment relationships following productivity shocks to take place under asymmetric information. In such a setting separation may occur even if continuation of the employment...

Persistent link: https://www.econbiz.de/10010746228

Multi-asset noisy rational expectations equilibrium with contingent claims

Chabakauri, Georgy; Yuan, Kathy; Zachariadis, Konstantinos - London School of Economics (LSE) - 2014

We consider a noisy rational expectations equilibrium in a multi-asset economy populated by informed and uninformed investors, and noise traders. Informed investors privately observe an aggregate risk factor affecting the probabilities of different states of the economy. Uninformed investors...

Persistent link: https://www.econbiz.de/10011126052