## Working Papers 2004 --- **[![](http://web-images.stern.nyu.edu/old_web/emplibrary/ED_pdficon.gif)](http://www.stern.nyu.edu/eco/wkpapers/workingpapers04/04-01White.pdf) Regulating Housing GSEs: Thoughts on Institutional Structure and Authorities**, by Lawrence J. White and W. Scott Frame, Working Paper EC-04-01, Stern School of Business, N.Y.U. --- **[![](http://web-images.stern.nyu.edu/old_web/emplibrary/ED_pdficon.gif)](http://www.stern.nyu.edu/eco/wkpapers/workingpapers04/04-02White.pdf) Emerging Competition and Risk-Taking Incentives at Fannie Mae and Freddie Mac**, by Lawrence J. White and W. Scott Frame, Working Paper EC-04-02, Stern School of Business, N.Y.U., Federal Reserve Bank of Atlanta. --- **[![](http://web-images.stern.nyu.edu/old_web/emplibrary/ED_pdficon.gif)](http://www.stern.nyu.edu/eco/wkpapers/workingpapers04/04-03Ferguson.pdf) The Empire Effect: The Determinants of Country Risk in the First Age of Globalization, 1880-1913**, by Niall Ferguson and Moritz Schularick, Working Paper EC-04-03, Stern School of Business, N.Y.U., Free University Berlin and Deutsche Bank Research. --- **[![](http://web-images.stern.nyu.edu/old_web/emplibrary/ED_pdficon.gif)](http://www.stern.nyu.edu/eco/wkpapers/workingpapers04/04-04Jing.pdf) Nonconvex Production Technology and Price Discrimination**, by Bing Jing and Roy Radner, Working Paper EC-04-04, Stern School of Business, New York University. --- **[![](http://web-images.stern.nyu.edu/old_web/emplibrary/ED_pdficon.gif)](http://pages.stern.nyu.edu/%7Elcabral/papers/ebay.pdf) The Dynamics of Seller Reputation: Theory and Evidence from eBay**, by Luís Cabral and Ali Hortacsu, Working Paper EC-04-05, Stern School of Business, N.Y.U., University of Chicago. SEE 06-32 FOR MOST RECENT PAPER --- **[![](http://web-images.stern.nyu.edu/old_web/emplibrary/ED_pdficon.gif)](http://pages.stern.nyu.edu/%7Epwachtel/WBPrivPaperMarch04.pdf) Privatization Matters: Bank Efficiency in Transition Countries**, by Paul Wachtel, John Bonin and Iftekhar Hasan, Working Paper EC-04-06, Stern School of Business, N.Y.U., Wesleyan University, Rensselaer Polytechnic Institute. --- **[![](http://web-images.stern.nyu.edu/old_web/emplibrary/ED_pdficon.gif)](http://www.stern.nyu.edu/eco/wkpapers/workingpapers04/04-07BarIsaac.pdf) Something to Prove: Reputation in teams and hiring to introduce uncertainty**, by Heski Bar-Isaac, Working Paper EC-04-07, Stern School of Business, N.Y.U. --- **[![](http://web-images.stern.nyu.edu/old_web/emplibrary/ED_pdficon.gif)](http://www.stern.nyu.edu/eco/wkpapers/workingpapers04/04-08Greene.pdf) Interpreting Estimated Parameters and Measuring Individual Heterogeneity in Random Coefficient Models**, by William Greene, Working Paper EC-04-08, Stern School of Business, N.Y.U. --- **[![](http://web-images.stern.nyu.edu/old_web/emplibrary/ED_pdficon.gif)](http://www.stern.nyu.edu/eco/wkpapers/workingpapers04/04-09BarIsaac.pdf) Imperfect Competition and Committment**, by Heski Bar-Isaac, Working Paper EC-04-09, Stern School of Business, N.Y.U. --- **[![](http://web-images.stern.nyu.edu/old_web/emplibrary/ED_pdficon.gif)](http://www.stern.nyu.edu/eco/wkpapers/04-10Economidesrevised.pdf) Telecommunications Regulation: An Introduction**, by Nicholas Economides, Working Paper EC-04-10, Stern School of Business, N.Y.U. --- **[![](http://web-images.stern.nyu.edu/old_web/emplibrary/ED_pdficon.gif)](http://web-docs.stern.nyu.edu/old_web/emplibrary/04-11Sundararajan.pdf) Competition in Wireless Telecommunications**, by Arun Sundararajan, Working Paper EC-04-11, Stern School of Business, N.Y.U. --- **[![](http://web-images.stern.nyu.edu/old_web/emplibrary/ED_pdficon.gif)](http://web-docs.stern.nyu.edu/old_web/emplibrary/04-12Sundararajan.pdf) Competeting in Markets with Digital Convergence**, by Arun Sundararajan, Working Paper EC-04-12, Stern School of Business, N.Y.U. --- **[![](http://web-images.stern.nyu.edu/old_web/emplibrary/ED_pdficon.gif)](http://www.stern.nyu.edu/eco/wkpapers/FannieMae.pdf) Fannie Mae, Freddie Mac, and Housing Finance: Why True Privatization is Good Public Policy**, by Lawrence White, Working Paper EC-04-13, Stern School of Business, N.Y.U. --- **[![](http://web-images.stern.nyu.edu/old_web/emplibrary/ED_pdficon.gif)](http://www.stern.nyu.edu/eco/wkpapers/mortgagebacked.pdf) Mortgage Backed Securities: Another Way to Finance Housing**, by Lawrence White, Working Paper EC-04-14, Stern School of Business, N.Y.U. --- **[![](http://web-images.stern.nyu.edu/old_web/emplibrary/ED_pdficon.gif)](http://www.stern.nyu.edu/eco/wkpapers/04-15White.pdf) File Early, Then Free Ride: How Delaware Law (Mis)Shapes Shareholder Class Actions**, by Lawrence White and Elliot Weiss, Working Paper EC-04-15, Stern School of Business, N.Y.U. --- **[![](http://web-images.stern.nyu.edu/old_web/emplibrary/ED_pdficon.gif)](http://www.stern.nyu.edu/eco/wkpapers/04-16Cabral.pdf) Does Microsoft Stifle Innovation? Dominant Firms, Imitation, and R & D Incentives,** by Luis Cabral and Ben Polak, Working Paper EC-04-16, Stern School of Business, N.Y.U. --- **[![](http://web-images.stern.nyu.edu/old_web/emplibrary/ED_pdficon.gif)](http://www.stern.nyu.edu/eco/wkpapers/04-17Cabral.pdf) Technology Adoption with Multiple Alternative Designs and the Option to Wait,** by Luis Cabral, Working Paper EC-04-17, Stern School of Business, N.Y.U. --- **[![](http://web-images.stern.nyu.edu/old_web/emplibrary/ED_pdficon.gif)](http://www.stern.nyu.edu/eco/wkpapers/04-18Veldkamp.pdf) Information Markets and the Comovement of Asset Prices,** by Laura Veldkamp, Working Paper EC-04-18, Stern School of Business, N.Y.U --- **[![](http://web-images.stern.nyu.edu/old_web/emplibrary/ED_pdficon.gif)](http://www.stern.nyu.edu/eco/wkpapers/04-19Baccara.pdf) Outsourcing, Information Leakage and Consulting Firms,** by Mariagiovanna Baccaraa, Working Paper EC-04-19, Stern School of Business, N.Y.U --- **[![](http://web-images.stern.nyu.edu/old_web/emplibrary/ED_pdficon.gif)](http://pages.stern.nyu.edu/~dbackus/Exotic/BRZ%20exotic%20latest.pdf) Exotic Preferences for Macroeconomists,** by David Backus, Bryan Routledge, and Stanley Zin, Working Paper EC-04-20, Stern School of Business, N.Y.U.--- **[![](http://web-images.stern.nyu.edu/old_web/emplibrary/ED_pdficon.gif)](http://www.stern.nyu.edu/eco/wkpapers/04-21Yeung.pdf) Corporate Governance, Economic Entrenchment and Growth,** by Bernard Yeung, Randall Morck, and Daniel Wolfenzon, Working Paper EC-04-21, Stern School of Business, N.Y.U. --- **[![](http://web-images.stern.nyu.edu/old_web/emplibrary/ED_pdficon.gif)](http://www.stern.nyu.edu/eco/wkpapers/sapc2005no6.pdf) Strategic Analysis of Petty Corruption: Entrepreneurs and Bureaucrats,** by Roy Radner, Ariane Lambert-Mogiliansky, and Makul Majumdar, Working Paper EC-04-22, Stern School of Business, N.Y.U. --- **[![](http://web-images.stern.nyu.edu/old_web/emplibrary/ED_pdficon.gif)](http://www.stern.nyu.edu/eco/wkpapers/04-23Clementi.pdf) IPO's and the Growth of Firms**, by Gian Luca Clementi, Working Paper EC-04-23, Stern School of Business, N.Y.U.--- **[![](http://web-images.stern.nyu.edu/old_web/emplibrary/ED_pdficon.gif)](http://www.stern.nyu.edu/eco/wkpapers/04-24Clementi.pdf) Stock Grants as a Committment Device,** by Gian Luca Clementi, Thomas Cooley, and Chen Wang, Working Paper EC-04-24, Stern School of Business, N.Y.U.--- **[![](http://web-images.stern.nyu.edu/old_web/emplibrary/ED_pdficon.gif)](http://www.stern.nyu.edu/eco/wkpapers/04-25Clementi.pdf) A Theory of Financing Constraints and Firm Dynamics,** by Gian Luca Clementi and Hugo Hopenhagn, Working Paper EC-04-25, Stern School of Business, N.Y.U. --- **[![](http://web-images.stern.nyu.edu/old_web/emplibrary/ED_pdficon.gif)](http://www.stern.nyu.edu/eco/wkpapers/04-26Arlen.pdf) Torts, Expertise, and Authority: Liability of** **Physicians and Managed Care Organizations,** by Jennifer Arlen and W.Bentley Macleod, Working Paper EC-04-26, N.Y.U Law --- **[![](http://web-images.stern.nyu.edu/old_web/emplibrary/ED_pdficon.gif)](http://www.stern.nyu.edu/eco/wkpapers/04-27White.pdf) Fussing and Fuming over Fannie and Freddie: How Much Smoke, How Much Fire?,** by Lawrence White and W.Scott Frame, Working Paper EC-04-27, Stern School of Business, N.Y.U. --- **[![](http://web-images.stern.nyu.edu/old_web/emplibrary/ED_pdficon.gif)](http://www.stern.nyu.edu/eco/wkpapers/04-28Jing.pdf) Monotone Pro****fitability Ranking in a Di****fferentiated Oligopoly**, by Bing Jing, Working Paper EC-04-28, Stern School of Business, N.Y.U. --- **[![](http://web-images.stern.nyu.edu/old_web/emplibrary/ED_pdficon.gif)](http://www.stern.nyu.edu/networks/ECONOMICS_OF_THE_INTERNET_BACKBONE.pdf) The Economics of the Internet Backbone**, by Nicholas Economides, Working Paper EC-04-29, Stern School of Business, N.Y.U.--- **[![](http://web-images.stern.nyu.edu/old_web/emplibrary/ED_pdficon.gif)](http://www.stern.nyu.edu/networks/Two-sided.pdf) Two-sided competition of proprietary vs. open source technology platforms** **and the implications for the software industry**, by Nicholas Economides and Evangelos Katsamakas, Working Paper EC-04-30, Stern School of Business, N.Y.U. --- **[![](http://web-images.stern.nyu.edu/old_web/emplibrary/ED_pdficon.gif)](http://www.stern.nyu.edu/eco/wkpapers/04-36Wachtel.pdf) Dealing with Financial Fragility in Transition Economies,** by Paul Wachtel and John Bonin, Working Paper EC-04-31, Stern School of Business, N.Y.U.--- **[![](http://web-images.stern.nyu.edu/old_web/emplibrary/ED_pdficon.gif)](http://web-docs.stern.nyu.edu/old_web/emplibrary/veldkamp2008rvhomebias.pdf) Information Immobility and the Home Bias Puzzle,** by Laura Veldkamp and Stijn Van Nieuwerburgh, Working Paper EC-04-32, Stern School of Business, N.Y.U. --- **[![](http://web-images.stern.nyu.edu/old_web/emplibrary/ED_pdficon.gif)](http://www.stern.nyu.edu/eco/wkpapers/04-33Maggibattigali.pdf) Costly Contracting in a Long-Term Relationship,** by Pierpaolo Battigalli and Giovanni Maggi, Working Paper EC-04-33, Stern School of Business, N.Y.U.--- **[![](http://web-images.stern.nyu.edu/old_web/emplibrary/ED_pdficon.gif)](http://www.stern.nyu.edu/eco/wkpapers/04-34Katz.pdf) Moving Toward the Rule of Law in the Face of Corruption: Re-examining the Big-Bang,** by Barbara G. Katz and Joel Owen, Working Paper EC-04-34, Stern School of Business, N.Y.U.--- **[![](http://web-images.stern.nyu.edu/old_web/emplibrary/ED_pdficon.gif)](http://www.stern.nyu.edu/eco/wkpapers/04-35Yeung.pdf) Corporate Governance and Managerial Risk Taking:** **Theory and Evidence,** by Bernard Yeung, Lubomir Litov, and Kose John, Working Paper EC-04-35, Stern School of Business, N.Y.U. --- **D[![](http://web-images.stern.nyu.edu/old_web/emplibrary/ED_pdficon.gif)](http://pages.stern.nyu.edu/~jasker/Paper1_ExclusiveForeclosure.pdf) iagnosing Foreclosure Due to Exclusive Dealing,** by John Asker, Working Paper EC-04-36, Stern School of Business, N.Y.U. ---