Antitrust Policies and Profitability in Nontradable Sectors

Optimal dividend policies with random profitability∗

We study an optimal dividend problem under a bankruptcy constraint. Firms face a trade-off between potential bankruptcy and extraction of profits. In contrast to previous works, general cash flow drifts, including Ornstein–Uhlenbeck and CIR processes, are considered. We provide rigorous proofs of continuity of the value function, whence dynamic programming, as well as uniqueness of the solution...

Standards, Patent Policies, and Antitrust: A Critique of IEEE-II

SDOs and Patent Policies Standards developed through a consensus process deliver substantial consumer benefits by allowing components produced by many suppliers to work together, encouraging investment and competition in standard-compliant products. Collaborative standards also may eliminate the uncertainty and delays associated with a marketplace standards war. More over, consensus standards a...

Interactions between Regulatory and Antitrust Policies in a Liberalized Postal Sector

International Asset Pricing with Nontradable Consumption Goods

We extend and unify existing international asset pricing models for perfect capital markets by allowing both exchange rates and inflation rates to be stochastic and investors to consume both tradable and nontradable goods. We show that country-specific demand for risky assets arises from two sources: PPP-deviationrate differential risks and nontradable-good-specific inflation-rate-differential ...

Some Thoughts on "Antitrust Policy" and the Antitrust Community