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How can naivete about present bias persist despite experience? To answer this question, our experiment investigates participants' ability to learn from their own behavior. Participants decide how much to work on a real effort task on two predetermined dates. In the week preceding each work date,...
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enhance welfare. The paper offers a new theory to explain why stress tests are generally welfare enhancing. We also offer a …
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theory of intermediation are applied to this framework, enabling us to explain why government size may increase rather than …
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This paper derives a three stage Cournot duopoly game for research collaboration, research expenditures and product market competition. The amount of knowledge firms can absorb from other firms is made dependent on their own research efforts, e.g., firms' absorptive capacity is treated as an...
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