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positive externalities. Without subsidization, so the story reads, there would be an underinvestment in higher education. This … paper shortly reviews theoretical arguments as well as empirical evidence on externalities. It is found that evidence on … positive externalities is quite limited. What is more, evidence on negative externalities of higher education has been mainly …
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Economic models of climate policy (or policies to combat other environmental problems) typically neglect psychological adaptation to changing life circumstances. People may adapt or become more sensitive, to different degrees, to a deteriorated environment. The present paper addresses these...
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