This paper compares the “forecasting approach” and the “fully interacted approach” to estimation of cartel damages. We investigate the impact of relaxing the assumptions of exogeneity and stationarity, both theoretically and in Monte Carlo simulations. The results suggest that the...

A new asymptotic framework is used to provide finite sample approximations for various statistics in the spurious return predictive regression analyzed by Ferson, Sarkissian and Simin (2003a). Our theory explains all the findings of Ferson et al (2003a) and confirms the theoretical possibility...

Did the anticompetitive conduct in question impact all or nearly all class members? This is a question central to a court's class certification decision. To answer this question, a methodology — known as sub-regressions — is being increasingly employed, particularly by defendants' expert...

This paper considers various asymptotic approximations to the finite sample distribution of the estimate of the break date in a simple one-break model for a linear trend function that exhibits a change in slope, with or without a concurrent change in intercept. The noise component is either...