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We turn the zero-profit condition that is typically used to determine the number of firms into a game of entry/exit. We assume that identical firms compete in Cournot fashion, and when market …
Discussion paper
We theoretically investigate the effects of strategic pre-commitment in multilateral dynamic bargaining. Each round features a commitment stage in which players can declare that they will reject any …
Discussion paper
Why is invention strongly positively correlated with parental income not only in the US but also in Finland which displays low income inequality and high social mobility? Using data on 1.45M Finnish …
Discussion paper