Now showing items 1-10 of 254
Stock Price Manipulation Through Takeover Bids
(1989-11)
The possibility that a takeover bid is designed solely to allow the bidder to drive up the stock price, sell his holdings at the higher price and drop the bid has not been studied nor incorporated into analyses of takeovers. ...
Common Knowledge and Game Theory
(1988-07)
Perhaps the most important area in which common knowledge problems arise is in the study of rational expectations equilibria in the trading of risky securities. How can there be trade if everybody's willingness to trade ...
Micro-Based Estimates of Demand Functions for Local School Expenditures
(1980-10)
We devise and apply a new method for local public goods from survey data. Individuals' responses to questions about whether they want more or less of various public goods are combined with observations of their incomes, ...
Incentive Contracting with Asymmetry of Precontractual Beliefs
(1981-11)
The interaction between a risk-neutral principal and agent is explored in which the agent's information is better than that of the principal both before and after a contract is agreed upon. It is shown that, in contrast ...
Legal Problems of International Economic Relations : Cases Materials and Text on the National and International Regulation of Transnational Economic Relations
(1986)
The paper is a summary of the 2nd edition of the authors' textbook which is concerned with international economic regulation. The objective of the book is to look at the legal principles and processes as they affect ...
Differences of Opinion and the Volume of Trade
(1985-03-19)
The standard models of financial markets assume that agents have identical probability beliefs but different utiity functions. The volume of trade in such models is therefore due to these taste differences. In this paper ...
Introduction
(1988-10)
This paper is the introduction to U.S.-Canadian Trade and Investment Relations with Japan, published by The University of Chicago Press, the proceedings of a conference held in Ann Arbor, Michigan, April 2-3, 1987.
The Seasonal Cycle and the Business Cycle
(1987-06)
Almost all recent research on macroeconomic fluctuations has worked with seasonally adjusted or annual data. This paper takes a different approach by treating seasonal fluctuations as worthy of study in their own right. ...
Understanding Policy Responses to External Shocks in Developing Countries
(1986-07)
This paper shows that trade patterns can be crucual in explaining different policy responses to external shocks, such as the contraction of foreign capital inflows faced by developing countries since 1982. Based on the ...
The Impact of Tariffs on Profits in the United States and Other Major Trading Countries
(1987-06-04)
In this paper, we use the Michigan Model of World Production and Trade to analyze the impact of protection on total and per unit profits in the U.S. and other major trading countries. It is found that protection reduces ...