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competition, akin to the competition in wholesale electricity markets. An acute form of market power may arise if a supplier is …
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Voters dealing with jurisdictional merger decisions face a trade-off between economies of scale and preference costs. Larger jurisdictions may offer cost advantages, yet the downside is that policies in larger units may be less aligned to voter preferences. Our study is the first to provide...
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other contexts. In the absence of a widely accepted theory of when incentives matter, it is probably not advisable to derive …
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