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invites students to take ownership over a current issue while developing a deep understanding of monopolies. By using Smith …'s criticisms of monopolies, students will also see that economic 'truths' are complicated, even in the classic 'laissez-faire' text. …
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This paper introduces a novel method for examining the effects of vertical integration. The basic idea is to estimate the parameters of a vertical entry game. By carefully specifying firms' payoff equations and constructing appropriate tests, it is possible to use estimates on rival profit...
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We study the effects of oil prices on consumption across countries and U.S. states, by exploiting the time-series and … positive effects on consumption in oil-importing economies, while depressing consumption in oil-exporting economies. We also …
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Stock market wealth effects on the level of consumption in the United States economy have been constantly debated …
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