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Wage Dispersion and Efficiency. It is often assumed that markets generate efficient allocations, but these are not … compensating differentials will increase both efficiency and fairness, quite in line with the classical position taken by Adam …
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We consider the efficiency of Cournot and Bertrand equilibria in a duopoly with substitutable goods where firms invest …
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Are competitive mechanisms perceived as just sources of economic inequality? Perceptions of fairness violations can have severe economic consequences, as they may cause counterproductive behavior such as rulebook slowdowns or quality shading. To analyze fairness perceptions associated with...
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