## Working Papers 2006 --- **[![](http://web-images.stern.nyu.edu/old_web/emplibrary/ED_pdficon.gif)](http://www.stern.nyu.edu/eco/wkpapers/merger_enforcement.pdf) Horizontal Merger Antitrust Enforcement: Some Historical Perspectives, Some Current Observations**, by Lawrence White, Working Paper EC-06-01, 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/2006/crimeanduncertainpunishmentmay06.pdf) Crime and Uncertain Punishment**, by Barbara G. Katz and Joel Owen, Working Paper EC-06-02, 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/payment.pdf) Market Definition and Market Power in Payment Card Networks: Some Comments and Considerations**, by Lawrence White, Working Paper EC-06-03, 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/multinationals2006.pdf) Multinationals Do It Better: Evidence on the Efficiency of Corporations’ Capital Budgeting**, by William H. Greene, Abigail S. Hornstein, Lawrence J. White, and Bernard Y. Yeung, Working Paper EC-06-04, 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/Valkonen.pdf) An Economic Model for the Incentive/Access Paradigm of Copyright Propertization: An Argument In Support of the Proposed New 514 to the Copyright Act,** by Sami Valkonen and Lawrence J. White, Working Paper EC-06-05, 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/Residential.pdf) The Residential Real Estate Brokerage Industry: What Would More Vigorous Competition Look Like?** by Lawrence J. White, Working Paper EC-06-06, 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/2006/mgbhbipower.pdf) How to Organize Crime**, by Heski Bar-Isaac and Mariagiovanna Baccara, Working Paper EC-06-07, 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/2006/hbigcvccheap.pdf) Diversity and demand externalities: How cheap information can reduce welfare**, by Heski Bar-Isaac with Guillermo Caruana and Vicente Cunat, Working Paper EC-06-08, 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/CabralRossJan07.pdf) Are Sunk Costs A Barrier To Entry?**, by Luis M. B. Cabral and Thomas Ross, Working Paper EC-06-09, 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/6-10.pdf) A General Approach to Incorporating Selectivity in a Model**, by William Greene, Working Paper EC-06-10, 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/White_Fannie.pdf) Fannie Mae, Freddie Mac, and Housing: Good Intentions Gone Awry**, by Lawrence White, Working Paper EC-06-11, Stern School of Business, N.Y.U. --- **[![](http://web-images.stern.nyu.edu/old_web/emplibrary/ED_pdficon.gif)](http://pages.stern.nyu.edu/~lveldkam/pdfs/BCcomove.pdf) Aggregate Shocks or Aggregate Information? Costly Information and Business Cycle Comovement**, by Laura Veldkamp and Justin Wolfers, Working Paper EC-06-12, 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/6-13.pdf) Income Dispersion and Counter-Cyclical Markups**, by Laura Veldkamp and Chris Edmond, Working Paper EC-06-13, Stern School of Business, N.Y.U. --- **[![](http://web-images.stern.nyu.edu/old_web/emplibrary/ED_pdficon.gif)](http://pages.stern.nyu.edu/~lveldkam/pdfs/InfoCoord.pdf) Knowing What Others Know: Coordination Motives in Information Acquisition**, by Laura Veldkamp and Christian Hellwig, Working Paper EC-06-14, 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/6-15_Wachtel.pdf) What is happening to the impact of financial deepening on economic growth?**, by Paul Wachtel and Peter L. Rousseau, Working Paper EC-06-15, 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/ACFCwCg7O.pdf) Institutions and Bank Behavior**, by Paul Wachtel and Rainer Haselmann, Working Paper EC-06-16, Stern School of Business, N.Y.U. --- **[![](http://web-images.stern.nyu.edu/old_web/emplibrary/ED_pdficon.gif)](http://www.stern.nyu.edu/networks/Economides_Public_Policy_In_Network_Industries.pdf) Public Policy in Network Industries**, by Nicholas Economides, Working Paper EC-06-17, 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/6-18_White.pdf)The Fishery as a Watery Commons: Lessons from the Experiences of Other Public Policy Areas for US Fisheries Policy**, by Lawrence J. White, Working Paper EC-06-18, 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/6-19_White.pdf) A New Law for the Bond Rating Industry--For Better Or For Worse?**, by Lawrence J. White, Working Paper EC-06-19, 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/Florence_paper_jan4.pdf) Understanding the Old and New Bretton Woods**, by Paul Wachtel, Working Paper EC-06-20, 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/6-21_Cooley.pdf) The Farm, the City, and the Emergence of Social Security**, by Thomas F. Cooley, Elizabeth M. Caucutt, and Nezih Guner, Working Paper EC-06-21, Stern School of Business, N.Y.U. --- **[![](http://web-images.stern.nyu.edu/old_web/emplibrary/ED_pdficon.gif)](http://pages.stern.nyu.edu/~jasker/scoring.pdf) Properties of Scoring Auctions**, by John Asker and Estelle Cantillon, Working Paper EC-06-22, Stern School of Business, N.Y.U. --- **[![](http://web-images.stern.nyu.edu/old_web/emplibrary/ED_pdficon.gif)](http://pages.stern.nyu.edu/~jasker/Competition.pdf) Sharing Investment Bankers**, by John Asker, Working Paper EC-06-23, Stern School of Business, N.Y.U. --- **[![](http://web-images.stern.nyu.edu/old_web/emplibrary/ED_pdficon.gif)](http://pages.stern.nyu.edu/~jasker/AskerCantillonProcurement2006.pdf) Procurement When Price and Quality Matter**, by John Asker and Estelle Cantillon, Working Paper EC-06-24, Stern School of Business, N.Y.U. --- **[![](http://web-images.stern.nyu.edu/old_web/emplibrary/ED_pdficon.gif)](http://pages.stern.nyu.edu/~acollard/Demand%20Fluctuations%20and%20Plant%20Turnover%20in%20Concrete.pdf) Demand Fluctuations and Plant Turnover in the Ready-Mix Concrete Industry**, by Allan Collard-Wexler, Working Paper EC-06-25, Stern School of Business, N.Y.U. --- **[![](http://web-images.stern.nyu.edu/old_web/emplibrary/ED_pdficon.gif)](http://pages.stern.nyu.edu/~acollard/Fixed%20Effects%20Reduce%20Bias%20in%20Entry%20Models.pdf) Panel Data Reduces Bias in Entry Models**, by Allan Collard-Wexler, Working Paper EC-06-26, 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/6-27_walter_reputational_risk.pdf) Reputational Risk and Conflicts of Interest in Banking and Finance: The Evidence So Far**, by Ingo Walter, Working Paper EC-06-27, 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/6-28_walter_financial_conglomerates.pdf) Do Financial Conglomerates Create or Destroy Economic Value?**, by Ingo Walter and Markus M. Schmid, Working Paper EC-06-28, 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/6-29_walter_asset_management.pdf) The Asset Management Industry in Asia: Dynamics of Growth, Structure, and Performance**, by Ingo Walter and Elif Sisli, Working Paper EC-06-29, 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/6-30_walter_innovation_in_intl_law.pdf) Innovation in International Law and Global Finance: Estimating the Financial Impact of the Cape Town Convention**, by Ingo Walter, Anthony Saunders, and Anand Srinivasan, Working Paper EC-06-30, 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/6-31_walter_microfinance.pdf) Does Microfinance Form a Distinctive Asset Class? Preliminary Evidence**, by Ingo Walter and Nicolas Krauss, Working Paper EC-06-31, Stern School of Business, N.Y.U. --- **[![](http://web-images.stern.nyu.edu/old_web/emplibrary/ED_pdficon.gif)](http://pages.stern.nyu.edu/~lcabral/workingpapers/CabralHortacsu_Mar06.pdf) The Dynamics of Seller Reputation: Evidence from eBay**, by Luis Cabral and Ali Hortacsu, Working Paper EC-06-32, Stern School of Business, N.Y.U.