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Persistent and significant privately-held stockpiles of crude oil have long been an important empirical regularity in the United States. Such stockpiles would not rationally be held in a traditional Hotelling-style model. How then can the existence of these inventories be explained? In the...
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Schneider-Zugowski, Doris: Mehr Wettbewerb ist nötig. S. 388-390 …
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