We examine the relations between recent board declassifications, takeover activity and takeover gains over the period 2003-2014. We report that firms that declassified their boards in the previous five years are more likely to be the target of a takeover compared to firms that remain classified....

We discuss the failure of the non-levelness of the bargaining set in bargaining problems appearing in a series of papers that study bargaining over quantity produced between a firm and a labor union. The associated bargaining does not feature transferable utilities and the disagreement point is...

One strand of the Neo-Brandeisian critique of traditional antitrust involves the permissive approach to exploitative pricing. Exploitative pricing by powerful firms with durable, but legitimately obtained market power, including non-innovative oligopolists that succeed in coordinating prices...

We study ultimatum bargaining games with asymmetric information regarding disagreement payoffs. Results from Mensch (2020) are used to find conditions under which a monotonic equilibrium exists in these games. A standard single crossing assumption implies the existence of a monotonic Nash...

Monopolists often exploit a deadline to boost their bargaining power, but historically, experiments document significant compromises in ultimatums. Motivated by this gap between theory and the real world, I explore whether the market designer can leverage the fairness of the monopolist to...

Long and specific Contracts in the US and short and ambiguous contracts in Japan are a stereotypical comparison of the contracting practices in both countries. Such characteristics of written contracts are understood as sticky. Based on a semi-structured interview of Japanese auto and...

In the classical bargaining problems, we propose a very mild axiom of individual rationality, which we call Possibility of Utility Gain. This requires that for at least one bargaining problem, there exists at least one player who reaches a higher utility level than the disagreement point. This...

This paper generalizes Gaudin (2016) adding the CSR concerns under a general demand form, and focuses on the double marginalization problem in single-product successive monopolies with one manufacturer and one retailer. We assume that manufacturer or retailer non-cooperatively engages in CSR...

For many decades, courts across the United States have experimented with administering justice in virtual spaces. But the COVID-19 pandemic accelerated those experiments in some jurisdictions and forced other jurisdictions to adopt new technologies to process cases. While trials, particularly...

Bargaining rights appear in the constitutions of a handful of states. In most, the constitutional text is sparse. It usually includes only a single sentence, often declaring nothing more than that the right to bargain exists. Courts in some states, like New York, have interpreted those brief...