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This paper considers the efficiency of a contestable natural monopoly if consumers are heterogeneous and the monopolist can differentiate prices imperfectly. With restricted entry, the standard result in this case is that the monopoly offers a menu of price-quantity combinations which leads to...
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depends on the contestability of elections, which declines as party fragmentation exceeds the long run level predicted by … of vote shares and a new index of electoral contestability over the history of the Canadian parliamentary system from …
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Does an increase in competition increase or decrease bank stability? I exploit how the state-specific process of interstate banking deregulation lowered barriers to entry into urban banking markets and find that greater competition significantly increases bank stability. This result is robust to...
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