gains, the merger lowers total investments and consumer surplus.Only if it entails suffcient effciency gains, will it be pro …-competitive. We also show there exist classes of models for which the results obtained with cost-reducing investments are equivalent … to those with quality-enhancing investments. …

a proprietary dataset that has the investments of banks at the security level for 2005-2012 in conjunction with the … their investments in securities, especially in those that had a larger price drop, with the strongest impact in low …

A combination of high deductible health plans (HDHPs) and health savings accounts (HSAs) holds promise for expanding …