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The paper introduces an abstract economy with imperfect competition; the choice of allocation takes place through an …
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The paper examines some issues linked to the integration of market power in general equilibrium. The first part reviews the different existing approaches : subjective and objective, in terms of quantitites and in terms of prices. The second part presents a semi-competitive model, based on a...
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incorporates competition and imperfect information and determines the terms and timing of takeovers by solving option exercise … to bidding shareholders, and (2) returns to bidding share-holders can be negative if there is competition for the …
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