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Essays in antitrust and banking.

University of California, Berkeley.

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Essays in antitrust and banking.

Record Type:	Electronic resources : Monograph/item
Title/Author:	Essays in antitrust and banking./
Author:	Miller, Nathan Hammer.
Description:	107 p.
Notes:	Adviser: Richard J. Gilbert.
Contained By:	Dissertation Abstracts International69-09A.
Subject:	Business Administration, Banking. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3331723
ISBN:	9780549832522

Essays in antitrust and banking.
Miller, Nathan Hammer.

Essays in antitrust and banking. - 107 p.

Adviser: Richard J. Gilbert.

Thesis (Ph.D.)--University of California, Berkeley, 2008.

This dissertation analyzes antitrust policy and the geographic scope of the banking industry. The first chapter evaluates the strategic leniency program for cartels adopted by the Department of Justice in 1993. I develop a theoretical model of cartel behavior that provides empirical predictions and moment conditions, and apply the model to the complete set of indictments and information reports issued over a twenty year span. Reduced-form statistical tests are consistent with the notion that leniency enhances deterrence and detection capabilities. Direct estimation of the model yields a 59 percent lower cartel formation rate and a 62 percent higher cartel detection rate due to leniency. The second chapter introduces a new explanation for the diversity of geographic scope observed in the commercial banking industry. I develop a theoretical model in which depositors prefer banks of greater scope but differ in their willingness-to-pay, and show that the unique subgame perfect equilibrium features a scope distribution. Structural estimation of the model firmly supports the notion that depositor heterogeneity exists and is substantial, and empirical predictions specific to the model hold in the data.

ISBN: 9780549832522Subjects--Topical Terms:

1018458
Business Administration, Banking.

Essays in antitrust and banking.
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100 1 $a Miller, Nathan Hammer. $3 1057602
245 1 0 $a Essays in antitrust and banking.
300 $a 107 p.
500 $a Adviser: Richard J. Gilbert.
500 $a Source: Dissertation Abstracts International, Volume: 69-09, Section: A, page: 3672.
502 $a Thesis (Ph.D.)--University of California, Berkeley, 2008.
520 $a This dissertation analyzes antitrust policy and the geographic scope of the banking industry. The first chapter evaluates the strategic leniency program for cartels adopted by the Department of Justice in 1993. I develop a theoretical model of cartel behavior that provides empirical predictions and moment conditions, and apply the model to the complete set of indictments and information reports issued over a twenty year span. Reduced-form statistical tests are consistent with the notion that leniency enhances deterrence and detection capabilities. Direct estimation of the model yields a 59 percent lower cartel formation rate and a 62 percent higher cartel detection rate due to leniency. The second chapter introduces a new explanation for the diversity of geographic scope observed in the commercial banking industry. I develop a theoretical model in which depositors prefer banks of greater scope but differ in their willingness-to-pay, and show that the unique subgame perfect equilibrium features a scope distribution. Structural estimation of the model firmly supports the notion that depositor heterogeneity exists and is substantial, and empirical predictions specific to the model hold in the data.
590 $a School code: 0028.
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650 4 $a Economics, Commerce-Business. $3 626649
650 4 $a Economics, General. $3 1017424
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