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In this paper, we focus on the role and economic effect of land ownership and land monopoly in emerging urban … environments. Land monopoly in conventional economics is a theoretical ‘impossibility’ which, nonetheless, allows for a spatial … empirical approach. We design a spatial land monopoly test of our own, understood as a pricing strategy where land prices can be …
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We propose a new welfare criterion that allows us to rank alternative financial market structures in the presence of belief heterogeneity. We analyze economies with complete and incomplete financial markets and/or restricted trading possibilities in the form of borrowing limits or transaction...
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