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This paper provides an economic explanation of the frequent rule changes in the Formula One (F1) motor racing series. In a two-stage model, the FIA (as the organizer of the F1) first decides whether to change the rules or not, and then the racing teams compete in a contest. It turns out that a...
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face a tradeoff between protecting such privacy and credit conditions. We study how the introduction of an informationally … more intrusive digital payment vehicle affects households' cash use, credit access, and welfare. A tech monopolist controls … banks to extract data contracts that are more lucrative than lending on its own. The laissez-faire equilibrium entails a …
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