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In a canonical model of military conflict, victory and defeat depend stochastically on the difference of resources deployed by the conflict parties. The present paper offers a comprehensive analysis of that model. The unique Nash equilibrium reflects either (i) peace, (ii) submission, (iii)...
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This paper reconsiders the literature on the irrelevance of privatization in mixed markets, addressing both quantity …
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analytically derive the welfare effect of privatization of port 2 and determine the optimal degree of privatization. Under Cournot … privatization, partial privatization and full nationalization, which hinges mainly upon the market size, both horizontal and … necessarily a one-size-fits-all strategy for port privatization, and it is important for policymakers to consider the effects of …
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