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, leading in turn to lower prices after a big store is formed but may also lead to an improvement in the bargaining position vis … the stores' ex-ante bargaining power vis-a-vis producers is high.Otherwise, an asymmetric situation occurs with only one …
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Why do contests exist in settings where negotiation provides a costless alternative? I assess a new explanation: parties may be overconfident about their ability or optimistic about their chances of winning. For both parties in a contest, this hubris: (i) reduces the incentive to exit the...
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