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first, low-cost pass at empirical evaluation, we conduct an experiment among farmers in the Ethiopian highlands, a region … based on neighborly recognition of borders could deliver a desired low-conflict situation if accompanied by an optional …
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The classical price competition model (named after Bertrand), prescribes that in equilibrium prices are equal to marginal costs. Moreover, prices do not depend on the number of competitors. Since this outcome is not in line with real-life observations, it is known as the Bertrand Paradox. Many...
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experiment. …
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