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Some Economic Aspects of Antitrust Analysis in Dynamically Competitive Industries
Evans, David S. - 2001
. Similarly, conventional tests for predation cannot discriminate between practices that increase or decrease consumer welfare in …
Persistent link: https://www.econbiz.de/10012470456
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Predation and Its Rate of Return : The Sugar Industry, 1887-1914
Genesove, David - 1997
construction of predicted competitive price cost margins that we show to exceed observed margins. We argue that predation occurred …
Persistent link: https://www.econbiz.de/10012472785
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Entry and Predation : British Shipping Cartels 1879-1929
Morton, Fiona Scott - 1996
predation. I discuss qualitative evidence such as predatory intent expressed in correspondence between cartel members which …
Persistent link: https://www.econbiz.de/10012473179
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Predation and Accumulation
Grossman, Herschel I. - 1995
This paper incorporates the economic theory of predation into the theory of economic growth. The analytical framework … offensive weapons. Productive capital forms a basis for accumulation of wealth but in each generation predation can cause both … current generation of the prey dynasty chooses to tolerate predation rather than to deter predation. We also find that over …
Persistent link: https://www.econbiz.de/10012473512
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Price Cutting and Business Stealing in Imperfect Cartels
Bernheim, B. Douglas - 2014
Though economists have made substantial progress toward formulating theories of collusion in industrial cartels that account for a variety of fact patterns, important puzzles remain. Standard models of repeated interaction formalize the observation that cartels keep participants in line through...
Persistent link: https://www.econbiz.de/10012458671
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Predatory Short Selling
Brunnermeier, Markus K. - 2013
Financial institutions may be vulnerable to predatory short selling. When the stock of a financial institution is shorted aggressively, leverage constraints imposed by short-term creditors can force the institution to liquidate long-term investments at fire sale prices. For financial...
Persistent link: https://www.econbiz.de/10012459149
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Why Stocks May Disappoint
Ang, Andrew - 2000
Recently much progress has been made in developing optimal portfolio choice models accomodating time-varying opportunity sets, but unless investors are unreasonably risk averse, optimal holdings include unreasonably large equity positions. One reason is that most studies assume investors behave...
Persistent link: https://www.econbiz.de/10012470967
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Covariance Risk, Mispricing, and the Cross Section of Security Returns
Daniel, Kent D. - 2000
This paper offers a multisecurity model in which prices reflect both covariance risk and misperceptions of firms' prospects, and in which arbitrageurs trade to profit from mispricing. We derive a pricing relationship in which expected returns are linearly related to both risk and mispricing...
Persistent link: https://www.econbiz.de/10012471155
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Nonparametric Risk Management and Implied Risk Aversion
Ait-Sahalia, Yacine - 2000
Typical value-at-risk (VAR) calculations involve the probabilities of extreme dollar losses, based on the statistical distributions of market prices. Such quantities do not account for the fact that the same dollar loss can have two very different economic valuations, depending on business...
Persistent link: https://www.econbiz.de/10012471198
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Prospect Theory and Asset Prices
Barberis, Nicholas - 1999
We propose a new framework for pricing assets, derived in part from the traditional consumption-based approach, but which also incorporates two long-standing ideas in psychology: prospect theory, and evidence on how prior outcomes affect risky choice. Consistent with prospect theory, the...
Persistent link: https://www.econbiz.de/10012471569