Issue 4

December 1998

How to Count Patents and Value Intellectual Property: The Uses of Patent Renewal and Application Data

Patent counts are very imperfect measures of innovative output.

Do Substantial Horizontal Mergers Generate Significant Price Effects? Evidence From The Banking Industry

This study examines the price effects of recent US bank mergers that substantially increased local market concentration.

Legal Form, Growth and Exit of West German Firms—Empirical Results for Manufacturing, Construction, Trade and Service Industries

Using a sample of approximately 11000 West German firms from all major sectors of the economy, we test predictions on the relationship between legal form, firm survival and employment growth.

Centralized and Decentralized Contracts in a Moral Hazard Environment

We study the optimal allocation of the contracting capacity in a moral hazard environment.

Third-Degree Price Discrimination With Interdependent Demands

This paper analyzes the price, output, and welfare effects of third-degree price discrimination for a monopolist who sells in two interdependent markets.

The Entry-Inducing Effects of Horizontal Mergers: An Exploratory Analysis

Antitrust law presumes that entry normally prevents or reverses anticompetitive effects from horizontal mergers.