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This article deals with the Local Agri-Environmental Schemes (LAES), the French contractual policy instrument within the European Rural Development Regulation (2007-2013), designed to improve water quality within priority watersheds. The paper is structured in three parts. The first one focuses...
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We provide experimental evidence for the hypothesis that bounded rationality is an important element of the theory of the firm. We implement a simplified version of a mechanism designed to perfectly solve the holdup problem under conditions of perfect rationality (Maskin 2002). We test whether...
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