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design. The model has many applications, including rent seeking, R&D, oligopoly, public goods provision, and tragedy of the …
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-good Bertrand model intensifies competition: it lowers price and raises total surplus (but also makes profits go up). For some … Hansen's results for the relationship between uncertainty and competition in the Bertrand model. Second, it shows that his … reinforces the notion that uncertainty intensifies competition rather than softens it …
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In most of the literature on auctions the valuations of agents are exogenously specified. This assumption may be inappropriate in a number of cases where valuations are better derived endogenously. Endogenous valuations are appropriate when there are many units being auctioned and their value is...
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