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This paper analyses the welfare effects of price restrictions on private contracting in a world where agents have a … grossly overestimated its benefit from participation. This policy may increase aggregate welfare even though some of the … sufficient intelligence by people with limited intelligence may dominate government regulation. …
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regulation for some goods. I provide sufficient conditions for deregulation, i.e. a general reduction in price floors, to be …
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regulation for some goods. I provide sufficient conditions for deregulation, i.e. a general reduction in price floors, to be …
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