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...

Privatizations are commonly associated with underpricing and undervaluation. Underpricing has received significant attention in the literature, but there is no equivalent literature that explains undervaluation. This paper provides a theoretical model of why regulated privatized assets are prone...

Public-private partnerships (PPPs) are long-term partnerships between the public and private sectors that usually involve the private sector undertaking investment projects that traditionally have been executed (or at least financed) and owned by the public sector. This paper considers...