In this paper we offer the Gibbs sampler as an alternative estimator to the the GMM procedure used by berry, Levinsohn, and Pakes (1995) (henceforth BLP) in their equilibrium differentiated product market analysis of the automobile industry.

The research assesses how the two Big Eight mergers of 1989 affected the market for audit services. A data set of 1,978 firms over a 12-year period is used to test four theories of how the mergers could have affected competition and consumer welfare. The study finds that the mergers reduced the...

This paper presents empirical evidence on why firm become corporate criminals. We investigate the relationship between corporate ownership structure and the prior probability of observing corporate crime.

The intuition tat poorly performing corporations are more likely to engage in crime is found through-out the contemporary literature on the economics of corporate misconduct. Yet little evidence of such a relationship exists. This paper presents new evidence on the relationship between prior...