This paper studies cartels' strategic behavior in delaying leniency applications, a take-up decision that has been ignored in the previous literature. Using European Commission decisions issued over a 16-year span, we show, contrary to common beliefs and the existing literature, that...

Colluding firms often exchange private information and make transfers within the cartels based on the information. Estimating the impact of such collusive practices'€" known as the 'lysine strategy profile (LSP)€'€" on cartel duration is difficult because of endogeneity and omitted...

Legal institutions play an important role in affecting delay in settlement. But little research has investigated the institutional causes of delay. The empirical literature is ambiguous regarding the impact of trial-court delay on settlement delay. I analyze the timing of bargaining and the...

Litigation seems to be a Pareto-ineffcient outcome of pretrial bargaining; however, this paper shows that litigation can be the outcome of rational behavior by a litigant and her attorney. If the attorney has more information than his client concerning the characteristics of the lawsuit, the...

There have long been claims that compensations for noneconomic damages are random because tort law does not provide clear guidance regarding these compensations. I investigate, in both settled and tried medical malpractice cases, whether noneconomic damage payments are arbitrary and what...

This paper examines the effects of European Commission's (EC) new leniency program on the EC's capabilities in detecting and deterring cartels. As a supplementary analysis, the US leniency is studied. I discuss a dynamic model of cartel formation and dissolution to illustrate how changes in...

Purpose: As one of the most important overhead capital of urban economics and social development, the sustainable development of urban infrastructure is becoming a key issue of prosperous society growing. The purpose of this paper is to establish a basic model to analysis certain infrastructure...

Purpose: Recently natural disasters frequently occur all over the world. However, the stakeholder management of post-disaster reconstruction is often a neglected field because of its particularity. This study investigates a model of stakeholder management for managers in post-disaster...

This thesis examines how industry differences affect both corporate financial policies and valuation. Chapter 1 studies the impact of a firm‟s product market power, through the channel of business risk, on its dividend policy. Using three measures of market power – the Herfindahl-Hirschman...