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White, Lucy - C.E.P.R. Discussion Papers - 2003

We investigate the robustness of the new foreclosure doctrine and its associated welfare implications to the introduction of incomplete information. In particular, we let the upstream firm’s marginal cost be private information, unknown to the downstream firms. The previous literature has...

Persistent link: https://www.econbiz.de/10005498007

Regulating a Multi-Utility Firm

Calzolari, Giacomo; Scarpa, Carlo - C.E.P.R. Discussion Papers - 2007

We study the regulation of a utility firm which is active in a competitive unregulated sector as well. If the firm … and quantity competition) and also optimal regulation. Accounting for the several effects of regulation on the unregulated … market, we show the existence of an informational externality, in that regulation provides useful information to the rival …

Persistent link: https://www.econbiz.de/10005124135

Optimal State-Contingent Regulation under Limited Liability

Gary-Bobo, Robert J.; Spiegel, Yossi - C.E.P.R. Discussion Papers - 2003

We consider an optimal regulation model in which the regulated firm’s production cost is subject to random, publicly …

Persistent link: https://www.econbiz.de/10005114162

Modes of Foreign Entry under Asymmetric Information about Potential Technology Spillovers

Müller, Thomas - Volkswirtschaftliche Fakultät, … - 2002

This paper studies the effect of technology spillovers on the entry decision of a multinational enterprise into a foreign market. Two alternative entry modes for a foreign direct investment are considered: Greenfield investment versus acquisition. We find that with quantity competition a...

Persistent link: https://www.econbiz.de/10005157511

Borrower Poaching and Information Display in Credit Markets

Bouckaert, Jan; Degryse, Hans - C.E.P.R. Discussion Papers - 2001

The Riegle-Neal Act in the US and the Economic and Monetary Union in Europe are recent initiatives to stimulate financial integration. These initiatives allow new entrants to ‘poach’ the incumbents' clients by offering them attractive loan offers. We show that these deregulations may be...

Persistent link: https://www.econbiz.de/10005667133

Weddings with Uncertain Prospects - Mergers under Asymmetric Information

Borek, Thomas; Bühler, Stefan; Schmutzler, Armin - C.E.P.R. Discussion Papers - 2003

We provide a framework for analysing bilateral mergers when there is two-sided asymmetric information about firms’ types. We introduce the concepts of essentially monotone decreasing (EMD) and increasing (EMI) functions, which generalize the respective mono-tonicity properties. If the profit...

Persistent link: https://www.econbiz.de/10005788984

More Insiders, More Insider Trading: Evidence from Private Equity Buyouts

Acharya, Viral V; Johnson, Tim - C.E.P.R. Discussion Papers - 2007

. They are unlikely to be consistent with models of optimal regulation. …

Persistent link: https://www.econbiz.de/10005498160