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externalities, i.e., each individual is unable to change the welfare of anyone else. The characterization is used to derive …, elimination of externalities with public goods implies that individuals cannot change the outcome. Hence, such mechanisms provide …
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According to European directives the German state deregulated several sectors which had been protected monopolies for a long time. A regulatory authority was established for the telecommunication sector with the competence to decide about the access conditions to the bottleneck "local loop". If...
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