Financial event studies using daily stock returns are frequently used to evaluate antitrust policy and to 'predict' the consequences of mergers. Although there is ample evidence that daily stock returns are not normally distributed, traditional asymptotic results are often used for hypothesis...

In sweeping revisions the US Telecommunications Act of 1996 relaxed rules respecting broadcast TV ownership regulations. In particular Congress directed the Federal Communication Commission (FCC) to conduct a rulemaking on whether the 'duopoly rules' preventing businesses from owning multiple...