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Oakland, CA, United States

In 2002, Argentina devalued its currency and froze public utility rates thus breaching the guarantees granted to investors the decade before. Those guarantees had lowered investors' cost of capital by substantially reducing expropriation risk. This paper looks into the governance structure chosen by Argentina for the privatization process and potential alternatives after a decade of contract breaches. Future governance should be market-oriented, involving vertically separated companies with former public utilities voluntarily acting as operating companies or OpCos, and NetCos in charge of all network expansions under the structure of PPPs created for such purposes. © 2014 Elsevier Ltd.

Layne-Farrar A.,Compass Lexecon
International Journal of IT Standards and Standardization Research | Year: 2011

Cooperative standard setting may be burdened by "over patenting". Because standards may convey market power to firms whose patents are implicated, "strategic" patenting may enable opportunistic behaviors. Thus, particular concerns have been raised over patenting that takes place after the first versions of a standard are published, as these patents may be aimed at the acquisition of market power. This is a reasonable concern, but another possibility also may be likely: "ex post" patenting may be driven by genuine innovation. Which is more prevalent? To begin answering this question, the author empirically assesses the patenting that occurs within a standard setting organization. The author rejects the first stage hypothesis that all ex post patenting must be opportunistic and conclude instead that such patenting is likely a mixed bag of (incremental) innovative contributions along with some strategic ones. As a result, standard setting policy prescriptions should proceed with caution so that the good is not eliminated with the bad. Copyright © 2011, IGI Global.

Niedermayer A.,University of Mannheim | Wu J.,Compass Lexecon
International Journal of Industrial Organization | Year: 2013

Inter-firm R&D collaborations through contractual arrangements have become increasingly popular, but in many cases they are broken up without any joint discovery. We provide a rationale for the breakup date in R&D collaboration agreements. More specifically, we consider a research consortium initiated by a firm A with a firm B. B has private information about whether it is committed to the project or a free-rider. We show that under fairly general conditions, a breakup date in the contract is a (second-best) optimal screening device for firm A to screen out free-riders. With the additional constraint of renegotiation proofness, A can only partially screen out free-riders: entry by some free-riders makes sure that A does not have an incentive to renegotiate the contract ex post. We also propose empirical strategies for identifying the three likely causes of a breakup date: adverse selection, moral hazard, and project non-viability. © 2013 Elsevier B.V.

Affelt A.,Compass Lexecon
Online (Wilton, Connecticut) | Year: 2011

The issue of the semantic web is of particular relevance to end users of Internet and desktop-accessible databases. In addition to recognition of new synonyms for commonly researched subjects, information professionals are also being challenged by terminology that has completely changed. UK and EU-based publications are featuring extensive coverage of government economic policies and plans using vocabulary seen less frequently in the US media. When researching a fluid environment such as government budgets and spending, it is preferable to use an all encompassing template. People must use department newsletters and other marketing and outreach materials as platforms to discuss ways in which the information center uses search templates and synonym lists. In pharmaceutical, legal, and other environments where it can be devastating to miss a key article, end users should be encouraged to contact the information center in order to be confident that nothing was missed.

Guarino C.M.,Michigan State University | Buddin R.,RAND Corporation | Pham C.,Frederick S. Pardee RAND Graduate School | Cho M.,Compass Lexecon
Topics in Early Childhood Special Education | Year: 2010

Early and accurate identification of special needs, coupled with an appropriate course of treatment and educational plan, is important to academic progress, in particular for economically disadvantaged children with fewer family resources to catch up if they fall behind. A first step in improving mechanisms to promote early identification is to uncover factors influencing the timing of identification. This study investigates how early identification-defined as identification prior to kindergarten entry-varies by demographic characteristics. Using data from the California Department of Education, the authors find systematic differences in the timing of identification, even after adjusting for disability and other factors. Girls are less likely to be identified with special needs prior to kindergarten entry than boys. African Americans are less likely than children of other races to be identified early, despite disproportionately high overall identification rates. English learners are less likely than non-English learners to be identified early. © Hammill Institute on Disabilities 2010.

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