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This paper characterizes optimal education and population policies within a continuous-time overlapping generations (OLG) framework where fertility, schooling duration, and health expenditures are …
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 …
Chasing and the house money effect are well-known phenomena in dynamic environments of risky activities such as investment decisions or gambling. Recent studies suggest that such behavior emerges …