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Pre-Emptive Horizontal Mergers : Theory and Evidence

Molnar, Jozsef - 2007

This paper proposes and tests an explanation as to why rational managers seeking to maximize shareholder value can pursue value-decreasing mergers. It can be optimal to overpay for a target firm and decrease shareholder value if the loss is less than in an alternative where the merger is...

Persistent link: https://www.econbiz.de/10014223569

Game-theoretical, Strategic forward Contracting in the Electricity Market

Holmberg, Pär - 2008

Forward sales is a credible commitment to aggressive spot market bidding, and it mitigates producers' market power in electricity markets. Still it can be profitable for a producer to make such a commitment if it results in a soft response from competitors in the spot market (strategies are...

Persistent link: https://www.econbiz.de/10010320246

Use of long-term auctions for network investment

McDaniel, Tanga; Neuhoff, Karsten - 2003

Short-term auctions for access to entry terminals of the British gas-network appear to successfully allocate scarce … resources and capture scarcity rent. Now long-term auctions are being introduced to guide future capacity expansion decisions …-term auctions for transmission capacity are not necessarily preferable to regulatory approved capacity expansion. …

Persistent link: https://www.econbiz.de/10011591157

Heterogeneity and fine wine prices : application of the quantile regression approach

Amédée-Manesme, Charles-Olivier; Faye, Benoît; Le … - In: Applied economics 52 (2020) 26, pp. 2821-2840

Persistent link: https://www.econbiz.de/10012221455

Econometrics of ascending auctions by quantile regression

Sanches, Nathalie Gimenes - In: The review of economics and statistics 99 (2017) 5, pp. 944-953

Persistent link: https://www.econbiz.de/10011781310

Partial linear quantile regression and bootstrap confidence bands

Härdle, Wolfgang Karl; Ritov, Ya'acov; Song, Song - 2010

In this paper uniform confidence bands are constructed for nonparametric quantile estimates of regression functions. The method is based on the bootstrap, where resampling is done from a suitably estimated empirical density function (edf) for residuals. It is known that the approximation error...

Persistent link: https://www.econbiz.de/10010270724

Quantile regression in risk calibration

Chao, Shih-Kang; Härdle, Wolfgang Karl; Wang, Weining - 2012

Financial risk control has always been challenging and becomes now an even harder problem as joint extreme events occur more frequently. For decision makers and government regulators, it is therefore important to obtain accurate information on the interdependency of risk factors. Given a...

Persistent link: https://www.econbiz.de/10010281552

On bootstrap inference for quantile regression panel data : a Monte Carlo study

Galvão Júnior, Antônio Fialho; Montes-Rojas, Gabriel - In: Econometrics : open access journal 3 (2015) 3, pp. 654-666

This paper evaluates bootstrap inference methods for quantile regression panel data models. We propose to construct confidence intervals for the parameters of interest using percentile bootstrap with pairwise resampling. We study three different bootstrapping procedures. First, the bootstrap...

Persistent link: https://www.econbiz.de/10011410652

Early warning signals of financial crises with multi-scale quantile regressions of log-periodic power law singularities

Zhang, Qun; Zhang, Qunzhi; Sornette, Didier - 2015

We augment the existing literature using the Log-Periodic Power Law Singular (LPPLS) structures in the log-price dynamics to diagnose financial bubbles by providing three main innovations. First, we introduce the quantile regression to the LPPLS detection problem. This allows us to disentangle...

Persistent link: https://www.econbiz.de/10011412424

Decentralization estimators for instrumental variable quantile regression models

Kaido, Hiroaki; Wüthrich, Kaspar - 2019

The instrumental variable quantile regression (IVQR) model (Chernozhukov and Hansen, 2005) is a popular tool for estimating causal quantile effects with endogenous covariates. However, estimation is complicated by the non-smoothness and non-convexity of the IVQR GMM objective function. This...

Persistent link: https://www.econbiz.de/10012053040

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