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This paper develops a model of post-liberalization price competition between airlines on the route Rio de Janeiro - São … Paulo. The intense price competition episode culminated in the rupture of a thirty-nine year-old cooperative structure - the …
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design. The model has many applications, including rent seeking, R&D, oligopoly, public goods provision, and tragedy of the …
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employees and finally engage in imperfect product market competition. Equilibria with and without training, and multiple … equilibria can emerge. If competition is sufficiently soft and trained workers are substitutes, firms may invest in non …
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