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We establish new efficiency results for decentralized markets with quality uncertainty. Buyers encounter a succession of passing trade opportunities and related asset information, allowing them to …
We study the extent and consequences of biases against immigrants exhibited by high school teachers in Finland. Compared to native students, immigrant students receive 0.06 standard deviation units …
This paper studies sustainability agreements between competitors about their use of a natural resource. A symmetric Cournot duopoly model reveals the main effects. Two types of agreements are …