We consider a model of political competition among two ideological parties who are uncertain about the distribution of voters. The distinguishing feature of the model is that parties can delegate electoral decisions to candidates by nomination. It is shown that if the credible platform...

The US Merger Guidelines consider that the anticompetitive effect of a horizontal merger is increasing in the initial market concentration and decreasing in the elasticity of demand. These ideas are studied in a setting where identical firms compete a la Cournot and marginal cost is constant....

In this paper we analyze the implementation of socially optimal mergers when the regulator is not informed about the parameters that determine social and private gains from potential mergers. We find that most of the standard tools in dominant strategy implementation, like the revelation...

We study managerial incentives in a model where managers take not only product market but also take-over decisions. We show that the optimal contract includes an incentive to increase the firm's sales, under both quantity and price competition. This result contrasts with the previous literature,...

The optimal competition policy when licensing is an alternative to a merger, which has the intention of transferring a superior technology, and is derived in a differentiated goods duopoly, as in the cases of Cournot and Bertrand competition. We show that whenever both royalties and fixed fees...

We study the incentives to firms to create divisions once the vertical structure of an industry is taken into account. Downstream firms, those that must buy an essential input from upstream firms, may create divisions. Divisionalization reduces their bargaining power against upstream firms. This...

Albarrán et al. (2009a ) introduced a novel methodology for the evaluation of citation distributions consisting of a pair of high- and a low-impact measures defined over the set of articles with citations below or above a critical citation level CCL. Albarrán et al. (2009b ) presented the...

This paper contains the first empirical applications of a novel methodology for comparing the citation distributions of research units working in the same homogeneous field. The paper considers a situation in which the world citation distribution in 22 scientific fields is partitioned into three...

This paper presents a model of nation formation in which culturally heterogeneous agents vote on the optimal level of public spending. Larger nations benefit from increasing returns in the provision of public goods, but bear the costs of greater cultural heterogeneity. This tradeoff induces...

This paper proposes a new method to measure ethnolinguistic diversity and offers new results linking such diversity with a range of political economy outcomes -- civil conflict, redistribution, economic growth and the provision of public goods. We use linguistic trees, describing the...