mergeron 2024.739127.1__tar.gz → 2024.739145.0__tar.gz

{mergeron-2024.739127.1 → mergeron-2024.739145.0}/PKG-INFO

@@ -1,6 +1,6 @@
 Metadata-Version: 2.1
 Name: mergeron
-Version: 2024.739127.1
+Version: 2024.739145.0
 Summary: Merger Policy Analysis using Python
 License: MIT
 Keywords: merger policy analysis,merger guidelines,merger screening,policy presumptions,concentration standards,upward pricing pressure,GUPPI
@@ -55,9 +55,9 @@ and :code:`.gen.data_generation.MarketSample.enf_counts`, respectively, the unde
 
 By default, merging-firm shares are drawn with uniform distribution over the space :math:`s_1 + s_2 \leqslant 1` for an unspecified number of firms. Alternatively, shares may be drawn from the Dirichlet distribution (see property `dist_type` of :code:`.gen.data_generation.MarketSample.share_spec`, of type, :code:`.gen.SHRDistribution`), with specified shape parameters (property `dist_parms` of :code:`.gen.data_generation.MarketSample.share_spec`. When drawing shares from the Dirichlet distribution, the user specifies the `firm_count_weights` property of :code:`.gen.data_generation.MarketSample.share_spec`, as a vector of weights specifying the frequency distribution over sequential firm counts, e.g., :code:`[133, 184, 134, 52, 32, 10, 12, 4, 3]` to specify shares drawn from Dirichlet distributions with 2 to 10 pre-merger firms distributed as in data for FTC merger investigations during 1996--2003 (See, for example, Table 4.1 of `FTC, Horizontal Merger Investigations Data, Fiscal Years 1996--2003 (Revised: August 31, 2004) <https://www.ftc.gov/sites/default/files/documents/reports/horizontal-merger-investigation-data-fiscal-years-1996-2003/040831horizmergersdata96-03.pdf>`_). If the property `firm_count_weights` is not explicitly assigned a value when defining :code:`.gen.data_generation.MarketSample.share_spec`, the default values is used, which results in a sample of markets with 2 to 7 firms with relative frequency in inverse proportion to firm-count, with 2-firm markets being 6 times as likely to be drawn as 7-firm markets.
 
-Recapture rates can be specified as, "proportional", "inside-out", or "outside-in" (see :code:`.RECForm`). The "inside-out" specification (assigning :code:`.RECForm.INOUT` to the `recapture_form` property of :code:`.gen.data_generation.MarketSample.share_spec`) results in recapture ratios consistent with merging-firms' in-market shares and a default recapture rate. The "outside-in" specification (assigning :code:`.RECForm.INOUT` to the `recapture_form` property of :code:`.gen.data_generation.MarketSample.share_spec`) yields diversion ratios from purchase probabilities drawn at random for :math:`N+1` goods, from which are derived market shares and recapture rates for the :math:`N` goods in the putative market (see, :code:`.gen.ShareSpec`). The "outside-in" specification is invalid when the distribution of markets over firm-count is unspecified, i.e., when the property `dist_type` of :code:`.gen.data_generation.MarketSample.share_spec` is assigned :code:`.gen.ShareDistributions.UNI`, raising a :code:`ValueError` exception. The "proportional" form (`recapture_form` = :code:`.RECForm.FIXED`) is often used in the literature, as an approximation to the "inside-out" calibration. See, for example, Coate (2011).
+Recapture ratios can be specified as, "proportional", "inside-out", or "outside-in" (see :code:`.RECForm`). The "inside-out" specification (assigning :code:`.RECForm.INOUT` to the `recapture_form` property of :code:`.gen.data_generation.MarketSample.share_spec`) results in recapture ratios consistent with MNL demand, given merging-firms' in-market shares and a default recapture ratio. The "outside-in" specification (assigning :code:`.RECForm.INOUT` to the `recapture_form` property of :code:`.gen.data_generation.MarketSample.share_spec`) yields diversion ratios from purchase probabilities drawn at random for :math:`N+1` goods, with market shares and recapture ratios for the :math:`N` goods in the putative market (see, :code:`.gen.ShareSpec`) computed from the simulated choice probabilities. The "outside-in" specification requires specification of the distribution of markets over firm counts (the default being uniform distirbution over markets with 2 to 7 firms pre-merger), and Dirichlet-distributed shares, with optional parameters (the default being a "flat" Dirichlet distribution, i.e., one with all parameters being 1). The parameters of the Dirichlet distribution can, for example, be specified to increase (decrease) the probability of drawing mergers to monopoly relative to that probability associated with the Flat Dirichlet specification, by setting the first 2 specified parameters at higher (lower) values relative to the others. Lastly, the "proportional" form of recapture ratio (`recapture_form` = :code:`.RECForm.FIXED`) is often used in the literature, as an approximation to the "inside-out" calibration. See, for example, Coate (2011).
 
-Price-cost-margins may be specified as having uniform distribution, Beta distribution (including a bounded Beta distribution with specified mean and variance), or an empirical distribution (see, :code:`.gen.PCMSpec`). The empirical margin distribution is based on resampling margin data published by Prof. Damodaran of NYU Stern School of Business (see Notes), using an estimated Gaussian KDE. The second merging firm's margin (per the property `firm2_pcm_constraint` of :code:`.gen.data_generation.MarketSample.pcm_spec`) may be specified as symmetric, i.i.d., or subject to equilibrium conditions for (profit-maximization in) Bertrand-Nash oligopoly with MNL demand (:code:`.gen.FM2Constraint`).
+Price-cost-margins may be specified as having uniform distribution, Beta distribution (including a bounded Beta distribution with specified mean and variance), or a built-in empirical distribution (see, :code:`.gen.PCMSpec`). The in-built empirical margin distribution is based on resampling margin data published by Prof. Damodaran of NYU Stern School of Business (see Notes), using an estimated Gaussian KDE. The second merging firm's margin (per the property `firm2_pcm_constraint` of :code:`.gen.data_generation.MarketSample.pcm_spec`) may be specified as symmetric, i.i.d., or subject to equilibrium conditions for (profit-maximization in) Bertrand-Nash oligopoly with MNL demand (:code:`.gen.FM2Constraint`).
 
 Prices may be specified as symmetric or asymmetric, and in the latter case, the direction of correlation between merging firm prices, if any, can also be specified (see, :code:`.gen.PriceSpec`). Prices may also be defined by imposing cost symmetry on firms in the sample, with fixed unit marginal costs normalized to 1 unit, such that prices equal :math:`1 / (1 - \pmb{m})`, where :math:`\pmb{m}` represents the array of margins for firms in the sample.
 
@@ -101,7 +101,7 @@ FTC Premerger Notification Office. “To File or Not to File: When You Must File
 
 .. image:: https://img.shields.io/endpoint?url=https://raw.githubusercontent.com/astral-sh/ruff/main/assets/badge/v2.json
    :alt: Ruff
-   :target: https://github.com/astral-sh/ruff
+   :target: https://github.com/astral-sh/ruff/
 
 .. image:: https://www.mypy-lang.org/static/mypy_badge.svg
    :alt: Checked with mypy
@@ -109,6 +109,6 @@ FTC Premerger Notification Office. “To File or Not to File: When You Must File
 
 .. image:: https://img.shields.io/badge/License-MIT-yellow.svg
    :alt: License: MIT
-   :target: https://opensource.org/licenses/MIT
+   :target: https://opensource.org/licenses/MIT/
 
 

{mergeron-2024.739127.1 → mergeron-2024.739145.0}/README.rst

@@ -15,9 +15,9 @@ and :code:`.gen.data_generation.MarketSample.enf_counts`, respectively, the unde
 
 By default, merging-firm shares are drawn with uniform distribution over the space :math:`s_1 + s_2 \leqslant 1` for an unspecified number of firms. Alternatively, shares may be drawn from the Dirichlet distribution (see property `dist_type` of :code:`.gen.data_generation.MarketSample.share_spec`, of type, :code:`.gen.SHRDistribution`), with specified shape parameters (property `dist_parms` of :code:`.gen.data_generation.MarketSample.share_spec`. When drawing shares from the Dirichlet distribution, the user specifies the `firm_count_weights` property of :code:`.gen.data_generation.MarketSample.share_spec`, as a vector of weights specifying the frequency distribution over sequential firm counts, e.g., :code:`[133, 184, 134, 52, 32, 10, 12, 4, 3]` to specify shares drawn from Dirichlet distributions with 2 to 10 pre-merger firms distributed as in data for FTC merger investigations during 1996--2003 (See, for example, Table 4.1 of `FTC, Horizontal Merger Investigations Data, Fiscal Years 1996--2003 (Revised: August 31, 2004) <https://www.ftc.gov/sites/default/files/documents/reports/horizontal-merger-investigation-data-fiscal-years-1996-2003/040831horizmergersdata96-03.pdf>`_). If the property `firm_count_weights` is not explicitly assigned a value when defining :code:`.gen.data_generation.MarketSample.share_spec`, the default values is used, which results in a sample of markets with 2 to 7 firms with relative frequency in inverse proportion to firm-count, with 2-firm markets being 6 times as likely to be drawn as 7-firm markets.
 
-Recapture rates can be specified as, "proportional", "inside-out", or "outside-in" (see :code:`.RECForm`). The "inside-out" specification (assigning :code:`.RECForm.INOUT` to the `recapture_form` property of :code:`.gen.data_generation.MarketSample.share_spec`) results in recapture ratios consistent with merging-firms' in-market shares and a default recapture rate. The "outside-in" specification (assigning :code:`.RECForm.INOUT` to the `recapture_form` property of :code:`.gen.data_generation.MarketSample.share_spec`) yields diversion ratios from purchase probabilities drawn at random for :math:`N+1` goods, from which are derived market shares and recapture rates for the :math:`N` goods in the putative market (see, :code:`.gen.ShareSpec`). The "outside-in" specification is invalid when the distribution of markets over firm-count is unspecified, i.e., when the property `dist_type` of :code:`.gen.data_generation.MarketSample.share_spec` is assigned :code:`.gen.ShareDistributions.UNI`, raising a :code:`ValueError` exception. The "proportional" form (`recapture_form` = :code:`.RECForm.FIXED`) is often used in the literature, as an approximation to the "inside-out" calibration. See, for example, Coate (2011).
+Recapture ratios can be specified as, "proportional", "inside-out", or "outside-in" (see :code:`.RECForm`). The "inside-out" specification (assigning :code:`.RECForm.INOUT` to the `recapture_form` property of :code:`.gen.data_generation.MarketSample.share_spec`) results in recapture ratios consistent with MNL demand, given merging-firms' in-market shares and a default recapture ratio. The "outside-in" specification (assigning :code:`.RECForm.INOUT` to the `recapture_form` property of :code:`.gen.data_generation.MarketSample.share_spec`) yields diversion ratios from purchase probabilities drawn at random for :math:`N+1` goods, with market shares and recapture ratios for the :math:`N` goods in the putative market (see, :code:`.gen.ShareSpec`) computed from the simulated choice probabilities. The "outside-in" specification requires specification of the distribution of markets over firm counts (the default being uniform distirbution over markets with 2 to 7 firms pre-merger), and Dirichlet-distributed shares, with optional parameters (the default being a "flat" Dirichlet distribution, i.e., one with all parameters being 1). The parameters of the Dirichlet distribution can, for example, be specified to increase (decrease) the probability of drawing mergers to monopoly relative to that probability associated with the Flat Dirichlet specification, by setting the first 2 specified parameters at higher (lower) values relative to the others. Lastly, the "proportional" form of recapture ratio (`recapture_form` = :code:`.RECForm.FIXED`) is often used in the literature, as an approximation to the "inside-out" calibration. See, for example, Coate (2011).
 
-Price-cost-margins may be specified as having uniform distribution, Beta distribution (including a bounded Beta distribution with specified mean and variance), or an empirical distribution (see, :code:`.gen.PCMSpec`). The empirical margin distribution is based on resampling margin data published by Prof. Damodaran of NYU Stern School of Business (see Notes), using an estimated Gaussian KDE. The second merging firm's margin (per the property `firm2_pcm_constraint` of :code:`.gen.data_generation.MarketSample.pcm_spec`) may be specified as symmetric, i.i.d., or subject to equilibrium conditions for (profit-maximization in) Bertrand-Nash oligopoly with MNL demand (:code:`.gen.FM2Constraint`).
+Price-cost-margins may be specified as having uniform distribution, Beta distribution (including a bounded Beta distribution with specified mean and variance), or a built-in empirical distribution (see, :code:`.gen.PCMSpec`). The in-built empirical margin distribution is based on resampling margin data published by Prof. Damodaran of NYU Stern School of Business (see Notes), using an estimated Gaussian KDE. The second merging firm's margin (per the property `firm2_pcm_constraint` of :code:`.gen.data_generation.MarketSample.pcm_spec`) may be specified as symmetric, i.i.d., or subject to equilibrium conditions for (profit-maximization in) Bertrand-Nash oligopoly with MNL demand (:code:`.gen.FM2Constraint`).
 
 Prices may be specified as symmetric or asymmetric, and in the latter case, the direction of correlation between merging firm prices, if any, can also be specified (see, :code:`.gen.PriceSpec`). Prices may also be defined by imposing cost symmetry on firms in the sample, with fixed unit marginal costs normalized to 1 unit, such that prices equal :math:`1 / (1 - \pmb{m})`, where :math:`\pmb{m}` represents the array of margins for firms in the sample.
 
@@ -61,7 +61,7 @@ FTC Premerger Notification Office. “To File or Not to File: When You Must File
 
 .. image:: https://img.shields.io/endpoint?url=https://raw.githubusercontent.com/astral-sh/ruff/main/assets/badge/v2.json
    :alt: Ruff
-   :target: https://github.com/astral-sh/ruff
+   :target: https://github.com/astral-sh/ruff/
 
 .. image:: https://www.mypy-lang.org/static/mypy_badge.svg
    :alt: Checked with mypy
@@ -69,5 +69,5 @@ FTC Premerger Notification Office. “To File or Not to File: When You Must File
 
 .. image:: https://img.shields.io/badge/License-MIT-yellow.svg
    :alt: License: MIT
-   :target: https://opensource.org/licenses/MIT
+   :target: https://opensource.org/licenses/MIT/
 

{mergeron-2024.739127.1 → mergeron-2024.739145.0}/pyproject.toml

@@ -13,7 +13,7 @@ keywords = [
     "upward pricing pressure",
     "GUPPI",
 ]
-version = "2024.739127.1"
+version = "2024.739145.0"
 
 # Classifiers list: https://pypi.org/classifiers/
 classifiers = [
@@ -74,6 +74,7 @@ sphinx-autoapi = ">=3.0"
 sphinx-immaterial = ">=0.11"
 pipdeptree = ">=2.15.1"
 types-openpyxl = ">=3.0.0"
+pyright = "^1.1.380"
 
 [tool.ruff]
 
@@ -168,6 +169,7 @@ preview = true
 python_version = "3.12"
 ignore_missing_imports = false
 strict = true
+enable_incomplete_feature = ["NewGenericSyntax", "PreciseTupleTypes"]
 
 show_column_numbers = true
 show_error_codes = true
@@ -180,8 +182,6 @@ allow_redefinition = true
 
 plugins = "numpy.typing.mypy_plugin"
 
-enable_incomplete_feature = "NewGenericSyntax"
-
 [tool.pytest.ini_options]
 log_auto_indent = 4
 minversion = "8.0"
@@ -193,7 +193,7 @@ filterwarnings = [
     "ignore::DeprecationWarning:jinja2.lexer",
     "ignore::DeprecationWarning:joblib._utils",
     "ignore::DeprecationWarning:openpyxl.packaging.core",
-    "ignore::RuntimeWarning:mergeron.gen.enforcement_stats",
     "ignore::RuntimeWarning:mergeron.core.proportions_tests",
+    "ignore::RuntimeWarning:mergeron.gen.enforcement_stats",
 ]
 tmp_path_retention_policy = "failed"

{mergeron-2024.739127.1 → mergeron-2024.739145.0}/src/mergeron/__init__.py

@@ -8,7 +8,7 @@ from numpy.typing import NDArray
 
 _PKG_NAME: str = Path(__file__).parent.stem
 
-VERSION = "2024.739127.1"
+VERSION = "2024.739145.0"
 
 __version__ = VERSION
 
@@ -21,14 +21,11 @@ If the subdirectory doesn't exist, it is created on package invocation.
 if not DATA_DIR.is_dir():
     DATA_DIR.mkdir(parents=False)
 
-np.set_printoptions(precision=18)
-
-
-type ArrayINT = NDArray[np.intp]
-type ArrayFloat = NDArray[np.half | np.single | np.double]
-
+np.set_printoptions(precision=24, floatmode="fixed")
 
 type ArrayBoolean = NDArray[np.bool_]
+type ArrayFloat = NDArray[np.half | np.single | np.double]
+type ArrayINT = NDArray[np.intp]
 
 type ArrayDouble = NDArray[np.double]
 type ArrayBIGINT = NDArray[np.int64]
@@ -38,7 +35,7 @@ DEFAULT_REC_RATE = 0.85
 
 @enum.unique
 class RECForm(enum.StrEnum):
-    """For derivation of recapture rate from market shares."""
+    """For derivation of recapture ratio from market shares."""
 
     INOUT = "inside-out"
     OUTIN = "outside-in"

mergeron-2024.739145.0/src/mergeron/core/__init__.py

@@ -0,0 +1,8 @@
+from mpmath import mp  # type: ignore
+
+from .. import VERSION  # noqa: TID252
+
+__version__ = VERSION
+
+type MPFloat = mp.mpf  # pyright: ignore
+type MPMatrix = mp.matrix  # pyright: ignore

mergeron-2024.739127.1/src/mergeron/core/damodaran_margin_data.py → mergeron-2024.739145.0/src/mergeron/core/empirical_margin_distribution.py

@@ -2,6 +2,9 @@
 Functions to parse margin data compiled by
 Prof. Aswath Damodaran, Stern School of Business, NYU.
 
+Provides :func:`mgn_data_resampler` for generating margin data
+from an estimated Gaussian KDE from the source (margin) data.
+
 Data are downloaded or reused from a local copy, on demand.
 
 For terms of use of Prof. Damodaran's data, please see:
@@ -103,7 +106,7 @@ def mgn_data_getter(  # noqa: PLR0912
             if not _mgn_path.is_file():
                 with resources.as_file(
                     resources.files(f"{_PKG_NAME}.data").joinpath(
-                        "damodaran_margin_data.xls"
+                        "empirical_margin_distribution.xls"
                     )
                 ) as _mgn_data_archive_path:
                     shutil.copy2(_mgn_data_archive_path, _mgn_path)
@@ -129,7 +132,7 @@ def mgn_data_getter(  # noqa: PLR0912
         _xl_row[1] = int(_xl_row[1])
         _mgn_dict[_xl_row[0]] = dict(zip(_mgn_row_keys[1:], _xl_row[1:], strict=True))
 
-    _ = _data_archive_path.write_bytes(msgpack.packb(_mgn_dict))
+    _ = _data_archive_path.write_bytes(msgpack.packb(_mgn_dict))  # pyright: ignore
 
     return MappingProxyType(_mgn_dict)
 
@@ -218,7 +221,7 @@ def mgn_data_resampler(
     _x, _w, _ = mgn_data_builder(mgn_data_getter())
 
     _mgn_kde = stats.gaussian_kde(_x, weights=_w, bw_method="silverman")
-    _mgn_kde.set_bandwidth(bw_method=_mgn_kde.factor / 3.0)
+    _mgn_kde.set_bandwidth(bw_method=_mgn_kde.factor / 3.0)  # pyright: ignore
 
     if isinstance(_sample_size, int):
         return np.array(

{mergeron-2024.739127.1 → mergeron-2024.739145.0}/src/mergeron/core/ftc_merger_investigations_data.py

@@ -96,10 +96,11 @@ class INVTableData(NamedTuple):
 
 
 type INVData = Mapping[str, Mapping[str, Mapping[str, INVTableData]]]
+type _INVData_in = dict[str, dict[str, dict[str, INVTableData]]]
 
 
 def construct_data(
-    _archive_path: Path | None = None,
+    _archive_path: Path = INVDATA_ARCHIVE_PATH,
     *,
     flag_backward_compatibility: bool = True,
     flag_pharma_for_exclusion: bool = True,
@@ -134,11 +135,11 @@ def construct_data(
         A dictionary of merger investigations data keyed to reporting periods
 
     """
-    _archive_path = _archive_path or INVDATA_ARCHIVE_PATH
+
     if _archive_path.is_file() and not rebuild_data:
         _archived_data = msgpack.unpackb(_archive_path.read_bytes(), use_list=False)
 
-        _invdata: dict[str, dict[str, dict[str, INVTableData]]] = {}
+        _invdata: _INVData_in = {}
         for _period in _archived_data:
             _invdata[_period] = {}
             for _table_type in _archived_data[_period]:
@@ -149,7 +150,7 @@ def construct_data(
                     )
         return MappingProxyType(_invdata)
 
-    _invdata = dict(_parse_invdata())  # Convert immutable to mutable
+    _invdata = dict(_parse_invdata())  # type: ignore # Convert immutable to mutable
 
     # Add some data periods (
     #   only periods ending in 2011, others have few observations and
@@ -197,12 +198,12 @@ def construct_data(
                 )
             }
 
-    _ = INVDATA_ARCHIVE_PATH.write_bytes(msgpack.packb(_invdata))
+    _ = INVDATA_ARCHIVE_PATH.write_bytes(msgpack.packb(_invdata))  # pyright: ignore
 
     return MappingProxyType(_invdata)
 
 
-def _construct_no_evidence_data(_invdata: INVData, _data_period: str, /) -> None:
+def _construct_no_evidence_data(_invdata: _INVData_in, _data_period: str, /) -> None:
     _invdata_ind_grp = "All Markets"
     _table_nos_map = dict(
         zip(
@@ -231,18 +232,20 @@ def _construct_no_evidence_data(_invdata: INVData, _data_period: str, /) -> None
             _stn0 = "Table 4.1" if _stats_grp == "ByFirmCount" else "Table 3.1"
             _stn1, _stn2 = (_dtn.replace(".X", f".{_i}") for _i in ("1", "2"))
 
-            _invdata_sub_evid_cond_conc[_dtn] = INVTableData(
-                _invdata_ind_grp,
-                _invdata_evid_cond,
-                np.column_stack((
-                    _invdata_sub_evid_cond_conc[_stn0].data_array[:, :2],
-                    (
-                        _invdata_sub_evid_cond_conc[_stn0].data_array[:, 2:]
-                        - _invdata_sub_evid_cond_conc[_stn1].data_array[:, 2:]
-                        - _invdata_sub_evid_cond_conc[_stn2].data_array[:, 2:]
-                    ),
-                )),
-            )
+            _invdata_sub_evid_cond_conc |= {
+                _dtn: INVTableData(
+                    _invdata_ind_grp,
+                    _invdata_evid_cond,
+                    np.column_stack((
+                        _invdata_sub_evid_cond_conc[_stn0].data_array[:, :2],
+                        (
+                            _invdata_sub_evid_cond_conc[_stn0].data_array[:, 2:]
+                            - _invdata_sub_evid_cond_conc[_stn1].data_array[:, 2:]
+                            - _invdata_sub_evid_cond_conc[_stn2].data_array[:, 2:]
+                        ),
+                    )),
+                )
+            }
 
 
 def _construct_new_period_data(
@@ -494,7 +497,7 @@ def _parse_invdata() -> INVData:
 
 
 def _parse_page_blocks(
-    _invdata: INVData, _data_period: str, _doc_pg_blocks: Sequence[Sequence[Any]], /
+    _invdata: _INVData_in, _data_period: str, _doc_pg_blocks: Sequence[Sequence[Any]], /
 ) -> None:
     if _data_period != "1996-2011":
         _parse_table_blocks(_invdata, _data_period, _doc_pg_blocks)
@@ -521,7 +524,7 @@ def _parse_page_blocks(
 
 
 def _parse_table_blocks(
-    _invdata: INVData, _data_period: str, _table_blocks: Sequence[Sequence[str]], /
+    _invdata: _INVData_in, _data_period: str, _table_blocks: Sequence[Sequence[str]], /
 ) -> None:
     _invdata_evid_cond = "Unrestricted on additional evidence"
     _table_num, _table_ser, _table_type = _identify_table_type(

{mergeron-2024.739127.1 → mergeron-2024.739145.0}/src/mergeron/core/guidelines_boundaries.py

@@ -20,12 +20,13 @@ from .. import (  # noqa: TID252
     RECForm,
     UPPAggrSelector,
 )
+from . import MPFloat
 from . import guidelines_boundary_functions as gbfn
 
 __version__ = VERSION
 
 
-mp.prec = 80
+mp.dps = 32
 mp.trap_complex = True
 
 type HMGPubYear = Literal[1992, 2004, 2010, 2023]
@@ -47,7 +48,7 @@ class GuidelinesThresholds:
     """
     Guidelines threholds by Guidelines publication year
 
-    ΔHHI, Recapture Rate, GUPPI, Diversion ratio, CMCR, and IPR thresholds
+    ΔHHI, Recapture Ratio, GUPPI, Diversion ratio, CMCR, and IPR thresholds
     constructed from concentration standards in Guidelines published in
     1992, 2004, 2010, and 2023.
 
@@ -70,7 +71,7 @@ class GuidelinesThresholds:
     """
     Negative presumption quantified on various measures
 
-    ΔHHI safeharbor bound, default recapture rate, GUPPI bound,
+    ΔHHI safeharbor bound, default recapture ratio, GUPPI bound,
     diversion ratio limit, CMCR, and IPR
     """
 
@@ -78,7 +79,7 @@ class GuidelinesThresholds:
     """
     Presumption of harm defined in HMG
 
-    ΔHHI bound and corresponding default recapture rate, GUPPI bound,
+    ΔHHI bound and corresponding default recapture ratio, GUPPI bound,
     diversion ratio limit, CMCR, and IPR
     """
 
@@ -87,7 +88,7 @@ class GuidelinesThresholds:
     Presumption of harm imputed from guidelines
 
     ΔHHI bound inferred from strict numbers-equivalent
-    of (post-merger) HHI presumption, and corresponding default recapture rate,
+    of (post-merger) HHI presumption, and corresponding default recapture ratio,
     GUPPI bound, diversion ratio limit, CMCR, and IPR
     """
 
@@ -162,38 +163,40 @@ class GuidelinesThresholds:
         )
 
 
-def _concentration_threshold_validator(
-    _instance: ConcentrationBoundary, _attribute: Attribute[float], _value: float, /
-) -> None:
-    if not 0 <= _value <= 1:
-        raise ValueError("Concentration threshold must lie between 0 and 1.")
-
-
-def _concentration_measure_name_validator(
-    _instance: ConcentrationBoundary, _attribute: Attribute[str], _value: str, /
-) -> None:
-    if _value not in ("ΔHHI", "Combined share", "Pre-merger HHI", "Post-merger HHI"):
-        raise ValueError(f"Invalid name for a concentration measure, {_value!r}.")
-
-
 @frozen
 class ConcentrationBoundary:
     """Concentration parameters, boundary coordinates, and area under concentration boundary."""
 
-    threshold: float = field(
-        kw_only=False,
-        default=0.01,
-        validator=(validators.instance_of(float), _concentration_threshold_validator),
-    )
-    precision: int = field(
-        kw_only=False, default=5, validator=validators.instance_of(int)
-    )
     measure_name: Literal[
         "ΔHHI", "Combined share", "Pre-merger HHI", "Post-merger HHI"
     ] = field(
         kw_only=False,
-        default="ΔHHI",
-        validator=(validators.instance_of(str), _concentration_measure_name_validator),
+        default="ΔHHI",  # pyright: ignore
+    )
+
+    @measure_name.validator  # pyright: ignore
+    def __mnv(
+        _instance: ConcentrationBoundary, _attribute: Attribute[str], _value: str, /
+    ) -> None:
+        if _value not in (
+            "ΔHHI",
+            "Combined share",
+            "Pre-merger HHI",
+            "Post-merger HHI",
+        ):
+            raise ValueError(f"Invalid name for a concentration measure, {_value!r}.")
+
+    threshold: float = field(kw_only=False, default=0.01)
+
+    @threshold.validator  # pyright: ignore
+    def __tv(
+        _instance: ConcentrationBoundary, _attribute: Attribute[float], _value: float, /
+    ) -> None:
+        if not 0 <= _value <= 1:
+            raise ValueError("Concentration threshold must lie between 0 and 1.")  # pyright: ignore
+
+    precision: int = field(
+        kw_only=False, default=5, validator=validators.instance_of(int)
     )
 
     coordinates: ArrayDouble = field(init=False, kw_only=True)
@@ -213,45 +216,17 @@ class ConcentrationBoundary:
             case "Post-merger HHI":
                 _conc_fn = gbfn.hhi_post_contrib_boundary
 
-        _boundary = _conc_fn(self.threshold, prec=self.precision)
+        _boundary = _conc_fn(self.threshold, dps=self.precision)
         object.__setattr__(self, "coordinates", _boundary.coordinates)
         object.__setattr__(self, "area", _boundary.area)
 
 
-def _divr_value_validator(
-    _instance: DiversionRatioBoundary, _attribute: Attribute[float], _value: float, /
-) -> None:
-    if not 0 <= _value <= 1:
-        raise ValueError(
-            "Margin-adjusted benchmark share ratio must lie between 0 and 1."
-        )
-
-
-def _rec_spec_validator(
-    _instance: DiversionRatioBoundary,
-    _attribute: Attribute[RECForm],
-    _value: RECForm,
-    /,
-) -> None:
-    if _value == RECForm.OUTIN and _instance.recapture_rate:
-        raise ValueError(
-            f"Invalid recapture specification, {_value!r}. "
-            "You may consider specifying `mergeron.RECForm.INOUT` here, and "
-            'assigning the default recapture rate as attribute, "recapture_rate" of '
-            "this `DiversionRatioBoundarySpec` object."
-        )
-    if _value is None and _instance.agg_method != UPPAggrSelector.MAX:
-        raise ValueError(
-            f"Specified aggregation method, {_instance.agg_method} requires a recapture specification."
-        )
-
-
 @frozen
 class DiversionRatioBoundary:
     """
     Diversion ratio specification, boundary coordinates, and area under boundary.
 
-    Along with the default diversion ratio and recapture rate,
+    Along with the default diversion ratio and recapture ratio,
     a diversion ratio boundary specification includes the recapture form --
     whether fixed for both merging firms' products ("proportional") or
     consistent with share-proportionality, i.e., "inside-out";
@@ -261,29 +236,33 @@ class DiversionRatioBoundary:
 
     """
 
-    diversion_ratio: float = field(
-        kw_only=False,
-        default=0.065,
-        validator=(validators.instance_of(float), _divr_value_validator),
-    )
-
-    recapture_rate: float = field(
+    diversion_ratio: float = field(kw_only=False, default=0.065)
+
+    @diversion_ratio.validator  # pyright: ignore
+    def __dvv(
+        _instance: DiversionRatioBoundary,
+        _attribute: Attribute[float],
+        _value: float,
+        /,
+    ) -> None:
+        if not 0 <= _value <= 1:
+            raise ValueError(
+                "Margin-adjusted benchmark share ratio must lie between 0 and 1."
+            )
+
+    recapture_ratio: float = field(
         kw_only=False, default=DEFAULT_REC_RATE, validator=validators.instance_of(float)
     )
 
-    recapture_form: RECForm | None = field(
-        kw_only=True,
-        default=RECForm.INOUT,
-        validator=(validators.instance_of((type(None), RECForm)), _rec_spec_validator),
-    )
+    recapture_form: RECForm | None = field(kw_only=True, default=RECForm.INOUT)
     """
-    The form of the recapture rate.
+    The form of the recapture ratio.
 
-    When :attr:`mergeron.RECForm.INOUT`, the recapture rate for
+    When :attr:`mergeron.RECForm.INOUT`, the recapture ratio for
     he product having the smaller market-share is assumed to equal the default,
-    and the recapture rate for the product with the larger market-share is
-    computed assuming MNL demand. Fixed recapture rates are specified as
-    :attr:`mergeron.RECForm.FIXED`. (To specify that recapture rates be
+    and the recapture ratio for the product with the larger market-share is
+    computed assuming MNL demand. Fixed recapture ratios are specified as
+    :attr:`mergeron.RECForm.FIXED`. (To specify that recapture ratios be
     constructed from the generated purchase-probabilities for products in
     the market and for the outside good, specify :attr:`mergeron.RECForm.OUTIN`.)
 
@@ -296,6 +275,27 @@ class DiversionRatioBoundary:
 
     """
 
+    @recapture_form.validator  # pyright: ignore
+    def __rsv(
+        _instance: DiversionRatioBoundary,
+        _attribute: Attribute[RECForm],
+        _value: RECForm,
+        /,
+    ) -> None:
+        if _value and not (isinstance(_value, RECForm)):
+            raise ValueError(f"Invalid recapture specification, {_value!r}.")
+        if _value == RECForm.OUTIN and _instance.recapture_ratio:
+            raise ValueError(
+                f"Invalid recapture specification, {_value!r}. "
+                "You may consider specifying `mergeron.RECForm.INOUT` here, and "
+                'assigning the default recapture ratio as attribute, "recapture_ratio" of '
+                "this `DiversionRatioBoundarySpec` object."
+            )
+        if _value is None and _instance.agg_method != UPPAggrSelector.MAX:
+            raise ValueError(
+                f"Specified aggregation method, {_instance.agg_method} requires a recapture specification."
+            )
+
     agg_method: UPPAggrSelector = field(
         kw_only=True,
         default=UPPAggrSelector.MAX,
@@ -331,11 +331,11 @@ class DiversionRatioBoundary:
 
     def __attrs_post_init__(self, /) -> None:
         _share_ratio = critical_share_ratio(
-            self.diversion_ratio, r_bar=self.recapture_rate
+            self.diversion_ratio, r_bar=self.recapture_ratio
         )
         _upp_agg_kwargs: gbfn.ShareRatioBoundaryKeywords = {
             "recapture_form": getattr(self.recapture_form, "value", "inside-out"),
-            "prec": self.precision,
+            "dps": self.precision,
         }
         match self.agg_method:
             case UPPAggrSelector.DIS:
@@ -345,10 +345,10 @@ class DiversionRatioBoundary:
                 _upp_agg_fn = gbfn.shrratio_boundary_xact_avg  # type: ignore
             case UPPAggrSelector.MAX:
                 _upp_agg_fn = gbfn.shrratio_boundary_max  # type: ignore
-                _upp_agg_kwargs = {"prec": 10}  # replace here
+                _upp_agg_kwargs = {"dps": 10}  # replace here
             case UPPAggrSelector.MIN:
                 _upp_agg_fn = gbfn.shrratio_boundary_min  # type: ignore
-                _upp_agg_kwargs |= {"prec": 10}  # update here
+                _upp_agg_kwargs |= {"dps": 10}  # update here
             case _:
                 _upp_agg_fn = gbfn.shrratio_boundary_wtd_avg
 
@@ -370,7 +370,7 @@ class DiversionRatioBoundary:
 
                 _upp_agg_kwargs |= {"agg_method": _aggregator, "weighting": _wgt_type}
 
-        _boundary = _upp_agg_fn(_share_ratio, self.recapture_rate, **_upp_agg_kwargs)
+        _boundary = _upp_agg_fn(_share_ratio, self.recapture_ratio, **_upp_agg_kwargs)  # pyright: ignore  # TypedDict redefinition
         object.__setattr__(self, "coordinates", _boundary.coordinates)
         object.__setattr__(self, "area", _boundary.area)
 
@@ -392,11 +392,11 @@ def guppi_from_delta(
     m_star
         Parametric price-cost margin.
     r_bar
-        Default recapture rate.
+        Default recapture ratio.
 
     Returns
     -------
-        GUPPI bound corresponding to ∆HHI bound, at given margin and recapture rate.
+        GUPPI bound corresponding to ∆HHI bound, at given margin and recapture ratio.
 
     """
     return gbfn.round_cust(
@@ -413,7 +413,7 @@ def critical_share_ratio(
     m_star: float = 1.00,
     r_bar: float = 1.00,
     frac: float = 1e-16,
-) -> mpf:
+) -> MPFloat:
     """
     Corollary to GUPPI bound.
 
@@ -424,12 +424,12 @@ def critical_share_ratio(
     m_star
         Parametric price-cost margin.
     r_bar
-        Default recapture rate.
+        Default recapture ratio.
 
     Returns
     -------
         Critical share ratio (share ratio bound) corresponding to the GUPPI bound
-        for given margin and recapture rate.
+        for given margin and recapture ratio.
 
     """
     return gbfn.round_cust(
@@ -445,7 +445,7 @@ def share_from_guppi(
     r_bar: float = DEFAULT_REC_RATE,
 ) -> float:
     """
-    Symmetric-firm share for given GUPPI, margin, and recapture rate.
+    Symmetric-firm share for given GUPPI, margin, and recapture ratio.
 
     Parameters
     ----------
@@ -454,13 +454,13 @@ def share_from_guppi(
     m_star
         Parametric price-cost margin.
     r_bar
-        Default recapture rate.
+        Default recapture ratio.
 
     Returns
     -------
     float
         Symmetric firm market share on GUPPI boundary, for given margin and
-        recapture rate.
+        recapture ratio.
 
     """