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, the most insidiously averse to rights, exclusive and inseparable from crime; on the other, social barbarism. …
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We integrate individual power in groups into general equilibrium models with endogenous group formation. We distinguish … between formal power (the say in group decisions) and real power (utility gain from being in groups). Their values will be … determined as part of the equilibrium. We find that higher formal power does not necessarily translate into higher equilibrium …
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