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We conduct a laboratory experiment where third-party spectators can redistribute resources between two agents, thereby … inequalities, but many follow an interior allocation rule previously unaccounted for by the fairness views in the literature. These …
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In many intermediate goods markets buyers and sellers both have market power. Contracts are usually long-term and negotiated bilaterally, codifying many elements in addition to price. We model such bilateral oligopolies as a set of simultaneous Rubenstein-Stahl bargainings over contracts...
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The paper demonstrates how trade between developing countries can cause the divergence of long-run growth among these … trade occurs at any moment if the countries have different numbers of intermediate varieties. The country with a larger …
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