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This synopsis contains excerpts from and novel introductions to the four chapters constituting “FairEconomy. Crises, Culture, Competition and the Role of Law”, a monograph co-authored and published by the late Wolfgang Fikentscher, Philipp Hacker and Rupprecht Podszun in 2013. In honor and...
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The model of perfect competition is one of the most famous, most important, and most misunderstood concepts in economics. Rather than aiming to be a full-blown model of real-world competitive markets, the perfect competition model isolates the decentralized coordination mechanism inherent in all...
Persistent link: https://www.econbiz.de/10014536299
In this article, I analyze and compare the contributions of Dupuit and Walras on the natural monopoly of railroads. Both theorists argued that inland waterways—as opposed to railroads—could be vertically unbundled, a point which previous authors who compared their views failed to point out....
Persistent link: https://www.econbiz.de/10011073245
positive – creative. The focus of this study are the economic mechanisms of the effectiveness and efficiency of the process of … communicating specified value to the customer, and an attempt to identify the factors boosting efficiency increase. Thus, the …
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(WDN) on patterns of firm-level adjustment to shocks. We document that the relative intensity and the character of price vs …. cost and wage vs. employment adjustments in response to cost-push shocks depend - in theoretically sensible ways - on the … intensity of competition in firms' product markets, on the importance of collective wage bargaining and on other structural and …
Persistent link: https://www.econbiz.de/10003971260