This paper discusses policy choice under ambiguity in the context of merger simulation. We do so by incorporating the uncertainty about post-merger conduct into a simple merger simulation model. We isolate the problem of uncertainty regarding post-merger conduct by working with a simple...

We establish strict stationarity and strong mixing properties of the dynamic Tobit process. Using these results we show that the regularity conditions for bias corrections in general non-linear dynamic panel models are satisfied for the dynamic Tobit model.