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Randomized control trials (RCTs) have become increasingly important as an evidence-based method to evaluate interventions such as government programs and policy initiatives. Frequently, however, RCTs are characterized by "imperfect compliance," in that not all the subjects who are randomly...
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The objective of this paper is to use laboratory experiments to test the dynamic theory of free riding among the target … shareholders during a takeover attempt. We construct our experiments to reflect the dynamics of unconditional bidding suggested by …
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