This paper develops a dynamic model for the timing and terms of mergers and acquisitions. Differently from previous models, we show that the firms agree about the timing, independently from how the merger surplus is shared. Firms always agree on the timing and discuss the sharing rule of the merger surplus according to their bargaining power or some other exogenous factor. We also show that, un...

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We investigate the evolution of global welfare in two dimensions: income per capita and life expectancy. First, we estimate the marginal distributions of income and life expectancy separately. More importantly, we consider income and life expectancy jointly and estimate their joint global distribution for 137 countries during 1970 2000. We reach several conclusions: the global joint distributio...

This study tested whether group gut-focused hypnotherapy would improve irritable bowel syndrome (IBS). Several possible outcome predictors were also studied. Before treatment, 75 patients completed a Symptom Severity Scale, a Mind-Body attribution questionnaire, and a Quality of Relationship Inventory (QRI). The symptom scale was completed posttreatment, 3, 6, and 12 months later. There was sig...

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Cotton is a major cash crop classified as moderately tolerant to salt stress (threshold ECe = 7.7 dS m-1). In the present study, set of 21 homozygous advanced breeding lines cotton (Gossypium herbaceum L.), including one variety G Cot 23 was evaluated over three years identify stable high yielding genotypes under stress. Weighted Average Absolute Scores BLUPs (WAASB) stability index, which base...