regulatory competition when banks are heterogeneous and give loans to firms that produce output in an integrated market. In this …

existence. Above this threshold, a firm is visible to all and the highest investment attracts all consumers. On the one hand …: a high investment becomes more profitable for the underdog when the captive segment of the dominant firm increases. The … share of initially captive consumers therefore has a non-monotonic effect on the investment levels of both firms and on …

, to estimate economic depreciation of timber exploitation in the Brazilian Amazon region. Although our results may be not … caution when one is applying economic depreciation methodologies, as will be addressed on the basis of our results. …