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, governments face a trade-off: they are tempted to restrict pesticide use compared to under autarky because domestic consumption …
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farming is shown to depend on the prices of pesticide and grain. It is either optimal to use no pesticide or a moderate amount … of pesticide or to apply a chattering control. Pest eradication is never optimal. On the other hand, if the farmer takes … pesticide depending on prices as well as on the shape of the grain production function which is determined by micro parameters …
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Collusion is widely condemned for its negative effects on consumer welfare and market efficiency. In this paper, I show that collusion may also in some cases facilitate the creation of unexpected new sources of value. I bring this possibility into focus through the lens of a historical episode...
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incentives to invest in R&D by internalizing potential externalities. They may also enhance efficiency of standardization by …
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