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We consider two agency-theory-based structural models and a reduced form model of bank inefficiency. The two structural …
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When firms (conglomerates) are competing, not only for the present, with a given population of customers and a fixed set of commodities or service, but also for the future, in which products are constantly evolving, what will be their competitive strategies and what will be the emerging ecology...
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microfoundations, the welfare consequences of rent seeking can be studied. In particular, I show that competition among rent seekers …
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