Hostile takeover and costly merger control

According to the U.S. Department of Justice’s Merger Guidelines, mergers determined to be anticompetitive are more likely than not to be challenged. Within an adversarial system, the corresponding process of merger control exhibits two kinds of inefficiencies: First, both the antitrust authority and the buyer spend considerable amounts of resources during litigation. Second, the anticompetitive merger is only prevented with a probability less than one. We can show that these inefficiencies may be smaller under a hostile than under a friendly takeover although the top management of the target firm is introduced as third player, spending additional resources during litigation.     

State Infrastructural Power and Nationalism: Comparative Lessons from Mexico and Argentina

This article focuses on the nexus between state infrastructural power and legitimacy. A comparative case study of nationalism in mid-twentieth-century Mexico and Argentina provides the basis for theorizing the impact of state infrastructural power on transformations of official understandings of nationhood. Both countries experienced a transition from liberal to popular nationalism. The extent to which popular nationalism became a regular product of state organizations varied between the two cases, depending on the timing of state development. The temporal congruence between the expansion of state infrastructural power and ideological change, as exemplified by Mexico under Cárdenas, facilitated the full institutionalization of the new official ideology, whereas a disjuncture between state development and ideological change, as exemplified by Argentina under Perón, inhibited such a comprehensive transformation of nationalism.     

"Lateral Angle" of the Internal Auditory Canal: Non-Association with Temporal Bone Pneumatization

Abstract:  The "lateral angle," the angle with which the posterior wall of the internal auditory canal meets the posterior fossa plate, is arguably wider in females (>45°) than males (<45°). Not previously addressed, however, are repeatability of angle determination, and whether the extent of temporal bone pneumatization is a confounder. Forty-one adult human cranial specimens (82 clinically normal temporal bones) were studied; no sex information was available for this United States sample. Two casts were created from each ear; each cast was independently categorized twice. No association of lateral angle with mastoid size was found. Repeatability was good. Although bilateral symmetry was suggested (phi = 0.60, p  = 0.05), two crania had oppositely categorized right-left angles. We observed a new finding: narrowed but clinically normal canals in 10% of crania. The lateral angle is a good candidate to be a morphological method in determination of sex.     

Universal Love or One True Religion? Experimental Evidence of the Ambivalent Effect of Religious Ideas on Altruism and Discrimination

Contrary to the expectations of secularization theory, religion remains socially important and affects politics in multiple ways—especially regarding conflict between religious communities. Theoretically, religion can increase altruism, but belief in the superiority of one's faith may facilitate intergroup discrimination and related conflict. Previous findings remain inconclusive, however, as specific religious ideas have hardly been tested. In this article, we argue that the content of religious ideas has causal effects on intergroup discrimination. We hence test the impact of two opposing, prominent religious ideas on altruism and discrimination: universal love and the notion of one true religion. Conducting dictator games with Christians and Muslims in Ghana and Tanzania, we find causal effects: Whereas the idea of one true religion increases intergroup discrimination, that of universal love fosters equal treatment. The policy implications hereof are obvious—promoting tolerant religious ideas seems crucial to avoiding conflict.     

The resource curse revisited: governance and natural resources

The paper analyzes the impact of natural resource abundance on selected governance indicators. We use a panel data set with observations on a large number of countries over an extended period of time and employ an instrumental variable technique to account for endogeneity. The results show that exports of natural resources have, above all, led to an increase in corruption. This result is robust to both different model specifications and an alternative indicator for natural resource abundance. For other governance indicators, such as law and order and bureaucratic quality, we either find no results or results that lack robustness.     

Voter confusion in German federal elections: the Baden-Württemberg electoral system as a possible alternative

Despite its performance and popularity, the German electoral system is partly still subject to critique. However, most critics focus on mechanics and results, thereby largely neglecting the perspective of the voter. This article argues that certain ways of split-ticket voting in German Bundestag elections point to the fact that a considerable part of the electorate is ignorant of the functions of the two votes. It analyses whether this flaw could be corrected by shifting to a very similar system, but one which only provides a single vote ballot, such as the Baden-Württemberg state electoral system. For this purpose, the Baden-Württemberg system is scrutinised in regard to possible misunderstandings on the side of the voters. Although a close examination of this globally unique system does not show symptoms that would indicate such a problem, the article cautions against a rash adoption of the Baden-Württemberg system at the federal level. On the one hand, this is due to limitations of the methods used in analysing voting behaviour. On the other hand, the state system suffers from shortcomings which make it unsuitable for use as a model. Finally, the article assesses the possible benefits of reform at the federal level and how far-reaching it should be.     

The Great Recurrence: Karl Polanyi and the crises of the European Union

In his seminal 1944 book The Great Transformation, Polanyi describes the rise and fall of liberal capitalism during the long nineteenth century. Many have realised that Polanyi has a lot to tell about the European Union in the aftermath of the financial crisis. The paper begins with an overview of Polanyi's historiography of the failure of nineteenth‐century liberal capitalism and his account of the four elements that helped liberal capitalism thrive, while precipitating its collapse—the idea of the self‐regulating market, the gold standard, international peace and liberal constitutionalism. Thereafter, the paper describes the particular transformations that these four elements underwent in the course of European integration and after the financial crisis, with a particular focus on the case law of the Court of Justice. The paper argues that their current constellation has a destructive potential that exceeds the economic dimension of the Union and might pave the way for a much greater failure, one that might defeat Europe's greatest success: the establishment of peace. Ultimately, the paper assesses current reform proposals in light of these insights and makes a number of proposals for re‐embedding the economy in society.