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We show that incomplete cartels in quantity-setting oligopolies may increase welfare, without any efficiencies or synergies being internalized by cartel formation. The main intuition is that the cartel has an incentive to contract output and that the firms outside the cartel react to this by...
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passive choice, and other 401(k) plan features. Depending on which theory and welfare perspective one adopts, virtually any …
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passive choice, and other 401(k) plan features. Depending on which theory and welfare perspective one adopts, virtually any …
Persistent link: https://www.econbiz.de/10012461070
from behavioral paternalism's acceptance of the defining axioms of neoclassical rationality for normative purposes, despite … neoclassical rationality axioms as a welfare standard; (2) that economists historically adopted these axioms not for their …
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