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seeking to optimise the social welfare of their assigned subpopulations through resource allocation in an underlying nonatomic …
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Uncertainty faced by individual firms appears to be heterogeneous. In this paper, I construct new empirical measures of firm-level uncertainty using data from the I/B/E/S and Compustat. These new measures reveal persistent differences in the degree of uncertainty facing individual firms not...
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allocation. The model provides a cautionary counterpoint to one of the most popular arguments against the regulation of pay, i …
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