The outcomes of near simultaneous bids for the news organizations Reuters Group plc and Dow Jones amp; Co. Inc. in 2007 hinged on mechanisms of corporate governance put in place at each company to protect the integrity and independence of the editorial operations. Neither company is a...

Since the corporate governance scandals of 2001 and 2002, the work of boards of directors has been dominated by board processes and compliance, with a corresponding reduction in the emphasis on value creation. This discussion paper proposes a model for board activities and raises questions about...

This report explains the principal economic and legal features of a unique set of data on 283 modern private international cartels discovered anywhere in the world from January 1990 to the end of 2005. Measured in real 2005 money, aggregate cartel sales and overcharges totaled about $1.2...

Following the framework found in Oliva et al. 1987, GEMCAT II implements a felxible method to test catastrophe models containing multivariate (i.e., latent) variables while allowing for a prioi variable specifications. The system uses an efficient hybrid minimization algorithm combining the...

This paper examines the marginal utility as a theory of value in comparison with the theories which preceded it. It compares in detail the utility theory with the predominant theory of value of classical economics, a cost theory which saw labor as the ultimate source of value. By introducing a...

F. Modigliani presented a special case of Keynes's General Theory result in 1944 in his “Liquidity Preference and the Theory of Interest and Money”. Modigliani sought to provide the IS-LM model of Hicks's 1937 Econometrica interpretation of Keynes's chapter 15 IS-LM model with microeconomic...