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This paper provides an explanation for an important institutional feature of staggered time-dependent adjustment rules assumed in a number of macroeconomic models (Fischer, 1977; taylor, 1980; Blanchard, 1986).
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that the existence of positive synergies implies declining expected prices. When synergies are negative, expected prices …
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We analyze an oligopoly model where firms choose both quantities and access fees. Per unit prices are determined …, the per unit prices equal mairginal cost and access fees may or may not extract all consumer surplus. …
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results regarding the ranking of auctions based on revenue, bidding behaviour, effects of entry fees and reserve prices, and …
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