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gelingt es dem Autor, vermachtete Faktormärkte in die Theorie des Außenhandels zu integrieren, die klassischen Handelstheoreme …
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The paper studies insurance with moral hazard in a system of contingent-claims markets. Insurance buyers are modelled as Cournot monopolists or oligopolists. The other agents condition their expectations on market prices, as in models of rational-expectations equilibrium with asymmetric...
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reveals that the partial equilibrium methodology cannot be relied upon in assessments of monopoly or monopsony whether … predatory or not. Our results show that issues in "buy-side" monopsony matters are not simply a mirror image of issues of "sell … equilibrium effects of market power are considered, monopoly turns out to be a far more serious concern than monopsony …
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