We study horizontal partial acquisitions in an oligopolistic industry in the absence of synergies.Contrary to existing results, we …nd that a dominant shareholder may choose to acquire sharesin a competitor although the aggregate pro…t of the group of …rms under his control, and eventhe...

We provide a characterization of an optimal insurance contract (coverage schedule and audit policy) when the monitoring procedure is random. When the policyholder exhibits constant absolute risk aversion, the optimal contract involves a positive indemnity payment with a deductible when the...

We provide a characterization of an optimal insurance contract (coverage schedule and audit policy) when the monitoring procedure is random. When the policyholder exhibits constant absolute risk aversion, the optimal contract involves a positive indemnity payment with a deductible when the...