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surplus in the absence of interagent transfers. Most of the work in the large bargaining-and matching literature ignores this … affects the efficiency of equilibrium investments and affects the agents' payoffs. In particular, it is possible that …
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market affects investment efficiency …
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market affects investment efficiency …
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affects investment efficiency …
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make investments before matching in a competitive market. We introduce the notion of premune-ation values—the values to the …
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make investments before matching in a competitive market. We introduce the notion of premuneration values—the values to the …
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