Voting trust arrangements have a long history at both the Interstate Commerce Commission and the Surface Transportation Board as devices to protect the incentives of acquiring firms and maintain the independence of acquiring and target firms during the pendency of regulatory investigation of the...

This paper empirically tests the predictions of the Priest-Klein model of pre-trial bargaining. It exploits variation in tort liability for bad faith insurance law across states and time during two decades of evolving law from the 1970s to the 1990s. Using repeated cross-sectional datasets of...

We use Monte Carlo experiments to evaluate whether "upward pricing pressure" (UPP) accurately predicts the price effects of mergers, motivated by the observation that UPP is a restricted form of the first order approximation derived in Jaffe and Weyl (2013). Results indicate that UPP is quite...

Voting trust arrangements have a long history at both the Interstate Commerce Commission and the Surface Transportation Board as devices to protect the incentives of acquiring firms and maintain the independence of acquiring and target firms during the pendency of regulatory investigation of the...