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This paper analyzes the welfare impact of a cap on commissions paid by product providers to intermediaries who advise consumers. In contrast to the extant literature, with a downward sloping demand capped commissions have a direct impact on product providers' margins and consumers' prices. I...
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efficiency-enhancing knowledge diffusion, which can be exploited by local firms to extract relevant information on consumer … exploit the new information and increase the overall efficiency level of the local economy. More specifically, we examine …
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profitability of firms remains unclear. We reconstruct the annual financial records of Sena Sugar Estates in Portuguese East Africa … (today's Mozambique) over the period 1920-74 to probe the contributions of forced labour and preferential trade arrangements … to the performance of the firm. We show that Sena Sugar Estates achieved stable and solid returns to capital, comparable …
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