The paper outlines various measures of profitability and considers what role they can play in competition law. We argue that profitability measures can provide a good answer to the wrong question and a much less good answer to the question we really want to answer. Using appropriate definitions...

We provide a simple asymmetric information model showing that, in contrast to portfolio diversification arguments, there is a natural complementarity between executive options and stock ownership. Moreover, managers can be made worse off by being granted more executive options.

Despite the policy importance of lifelong learning, there is very little hard evidence from the UK on (a) who undertakes lifelong learning and why, and (b) the economic benefits of lifelong learning. This paper uses a rich longitudinal panel data set to look at key factors that determine whether...

This study is one of a pair funded by the Homes and Communities Agency and the Tenant Services Authority. The other report can be found at http://sticerd.lse.ac.uk/case/. This pair of studies develops the findings of two previous reports on the relationship between housing and life chances...

Policy makers place increasing emphasis on the importance of lifelong learning in enabling more people, not just the registered unemployed, who are out of the labour force to move back into employment, or even into employment for the first time. However, there is very little reliable evidence on...

This study draws on the Millennium Cohort Study to explore the housing and neighbourhood circumstances of children born in England in 2000 at the age of 5 in 2006. The majority of children experienced good housing conditions. Those in social rented homes, and to a lesser extent in private rented...