Vassar College Digital Library

Institutional Repository

Vassar College's institutional repository reflects the research and scholarly output of the Vassar College community.  It provides access to many collections, including a variety of senior theses and projects from disciplines ranging from American Culture to Urban Studies. 

In early 2022 Vassar College Libraries moved the institutional repository from Digital Window to the Vassar College Digital Library. This new method of access is a work in progress and will be officially launched in June 2022. The original Digital Window will remain accessible through July 1, 2022. 

Arbitrage in closed-end funds: New evidence

Publication Date
2006-August-20
Document Type
Authors
Department or Program
Abstract

Arbitrage pressures that could equalize closed-end fund share prices with fund portfolio values appear to be largely absent in an extensive data set. Observed fund behavior violates the static arbitrage bounds of Gemmill and Thomas (2002) and is inconsistent with...

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Bargaining in the shadow of precedent: the surprising irrelevance of asymmetric stakes

Publication Date
2006-April-12
Document Type
Department or Program
Abstract

We develop a model of bargaining and litigation in the context of patent licensing (or any contractual setting). Following Priest and Klein (1984) we developed a model that explicitly allows for (1) multiple parties (leading to asymmetry of stakes), (2)...

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Credibility and credulity: how beliefs about beliefs affect entry incentives

Publication Date
2006-November-13
Document Type
Department or Program
Abstract

In this note we investigate the infringement (entry) decision for a firm facing an incumbent patent holder with uncertain patent rights. The entrant risks a dispute by entering, resulting in either a settlement (licensing) or litigation and trial. Using the...

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Donor influence in Multilateral Development Banks: the case of the Asian Development Bank

Publication Date
2006-January-19
Document Type
Department or Program
Abstract

This paper explores the influence of Japan and the United States over the geographic distribution of Asian Development Bank (ADB) funds. Although nominally an independent, multilateral organization, the ADB is widely regarded as bowing to the interests of its two...

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Is it really the Fisher effect?

Publication Date
2006-March-01
Document Type
Authors
Department or Program
Abstract

Many researchers have used a cointegration approach to test for the Fisher effect. This note argues that the cointegration of the nominal interest rate and the inflation rate is consistent with any theory implying a stationary real interest rate and...

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Kelo, Cuno, and the broken window

Publication Date
2006-November-26
Document Type
Department or Program
Abstract

In June 2005, the Supreme Court made one of its least popular decisions in recent history. In Kelo v. New London, the Court missed a simple point: that local decision makers make local decisions.

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Learning by suing: structural estimates of court errors in patent litigation

Publication Date
2006-November-07
Document Type
Authors
Department or Program
Abstract

This paper presents structural estimates of the probability of validity, and the probability of Type I and Type II errors by courts in patent litigation. Patents are modeled as uncertain property rights, and implications of the model are tested using...

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Short selling behavior when fundamentals are known: Evidence from NYSE closed-end funds

Publication Date
2006-January-11
Document Type
Authors
Department or Program
Abstract

The larger a closed-end fund's premium over its portfolio value, the more intensely it is sold short. However, the intensity of short selling affects neither the rate at which premia mean revert to fundamental values nor the rate of return...

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The dynamics of patent citations

Publication Date
2006-July-03
Document Type
Authors
Department or Program
Abstract

The use of patent citations as a measure of patent "quality" increased dramatically in recent years. I estimate the hazard of patent citation, and find evidence of unobserved heterogeneity. Hazard estimation provides a means to separate patent quality from citation...

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Using NAICS to identify national industry cluster templates for applied regional analysis

Publication Date
2006-December-16
Document Type
Department or Program
Abstract

Whereas FESER and BERGMAN, 2000, developed the concept of national-level cluster templates and introduced a systematic methodology to identify such clusters, their technique and results were based on the now-outdated Standard Industrial Classification (SIC) system for categorizing industries. We update...

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