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payoffs, or because of informational externalities. In the first case, inefficiency manifests itself in excessive non …
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payoffs, or because of informational externalities. In the first case, inefficiency manifests itself in excessive non …
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externalities: congestion, which has a feedback effect on the behaviour of the economic agents, air pollution and accidents. The … policy reform is welfare improving or not. From the theory of optimal taxation in the presence of externalities, we know that … welfare effects of small policy changes in the presence of transport externalities. The model incorporates three types of …
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