This work proposes to rely on the capital gains tax legislation to introduce transfers in merger control. Transfers are never used in merger regulation, however they can represent a relevant device to extract information on synergies. The implicit transfer collected thanks to the capital gains...

We propose to model individual educational investments as a rational decision, maximizing expected utility, conditional on some characteristics observed by the student, under the combined risks affecting future wages and schooling duration. Assuming that students' attitudes toward risk can be...