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People often draw inferences from sequences of past performance, sometimes perceiving patterns even in random outcomes. This has fueled debates regarding phenomena such as the hot hand and gambler’s …
Schelling (1956) first clarified how power to reduce one’s freedom of choice might benefit a bargaining party. A commitment to reject proposals, when successful, may force concessions from opponents …
Heterogeneous monopolists produce goods using either brown technology, which relies on labor and carbon energy, or green technology, which relies solely on labor. R&D rms enhance productivity …