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Efficiency gains and mergers
(2008)
In the theoretical literature, strong arguments have been provided
in support of the e ciency defense in antitrust merger policy.
One of the most often cited results is due to Williamson (1968)
that shows how relatively ...
Harmful competition in the insurance markets
(2010)
There is a general presumption that competition is a good
thing. In this paper we show that competition in the insurance
markets can be bad and that adverse selection is in general
worse under competition than under ...
On the FDI: attracting property of privatization
(2010)
In the present paper we provide an explanation of why privatization
may attract foreign investors willing to enter a regional
market. Privatization turns the formerly-public rm into a less aggressive
competitor since ...