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Conventional wisdom tells us that with no market failure and local non-satiation of preferences, the core is at least as large as the collection of competitive equilibrium allocations.We con.rm this for a standard model featuring land. Next we consider the public land ownership version of the...
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The spatial dimension of international trade theory has been neglected during most of its history. Trade barriers such … tariffs, spatial considerations have gained in stature. On the way to fostering a spatial trade theory this book supplies a … comprehensive analysis of all the different impacts of the inclusion of space and transport costs, covering orthodox trade theory …
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