The standard merger simulation methods, which measure the effect of the change in ownership on unilateral pricing incentives, solely focus on price but do not generally provide an accurate forecast of price (Peters, 2006; Weinberg and Hosken, 2008). The prediction errors on price can come from the...

This paper studies banks' competitive behavior on the deposit side of the Italian retail banking industry. We use a structural model to estimate demand for deposit services and test several supply models. We find that both the competitive, differentiated product Bertrand and the perfectly...

We investigate an informal yet important mechanism in the private equity industry that helps to reduce uncertainty: relationship building. Based on a large sample of private equity funds over the 1980-2010 period, we find that the general partners strategically allocate good funds to loyal...

type="main" <p>The Chinese passenger-vehicle industry contains a large number of manufacturers. Some of them are members of big corporate groups centered around state owned enterprises. These corporate relationships may facilitate collusion. This paper applies the non-nested hypothesis test...</p>

This paper studies banks' competitive behavior on the deposit side of the Italian retail banking industry. We use a structural model to estimate demand for deposit services and test several supply models. We find that both the competitive, differentiated product Bertrand and the perfectly...

Undesirable outputs (or bads) refer to the byproducts accompanied with desirable outputs (or goods) in a production process, e.g. sulfur dioxide and carbon dioxide in coal-fired power generation. The shadow price of undesirable output, which may be interpreted as the opportunity cost of abating...

A random sample size version of the central limit theorem is obtained for a general class of symmetric statistics based on uniform spacings. An important application to goodness of fit test for a Poisson process is discussed.