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The process of assigning property rights to land in the American Great Plains resulted in farms that were too small to be economically viable. These farms were prime contributors to the Dust Bowl of the 1930s. The path dependence resulting from the initial assignment of property rights on the...
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This paper is an empirical assessment of the comparative efficiency of governance structures in an environment marked … by high uncertainty. We analyze the short-term impact of retail deregulation on the productive efficiency of electric … from 1998-2001. Our results show that the process of deregulation has a negative impact on firms' productive efficiency …
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