RAND Journal of Economics Vol. 41, No. 3, Autumn 2010 pp. 524–548 Competition for scarce resources P´ ter Es˝ ∗ e o and Lucy White∗∗∗ Volker Nocke∗∗ We model a downstream industry where firms compete to buy capacity in an upstream market which allocates capacity efficiently. Although downstream firms have symmetric production technologies, we show that industry structure is symmetric only if capacity is sufficiently scarce. Otherwise it is asymmetric, with one large, “fat,” capacity-hoarding firm
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Asia". It is still not clear whether 'green growth' is a new transitional shift or just another gimmick to cover up inconsistencies between economic and environmental objectives of governments. There is no universally accepted definition of green growth. But normally it is being treated as a synonym to sustainable development. "Green growth is fostering economic growth and development, while ensuring that natural assets continue to provide resources and environmental services on which our well-being
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Assignment #3 Game Theory and Monopolies by ECO 550 Assignment #3 1. Some games of strategy are cooperative. One example is deciding which side of the road to drive on. It doesn’t matter which side it is as long as everyone chooses the same side. Otherwise, everyone may get hurt. Driver 2 Left Right Driver 1 Left 0,0 -1000 -1000
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Chapter - 01 Limits, Alternatives, and Choices: Chapter 1: #11, 12 Question 11 Explain how (if at all) each of the following events affects the location of a country’s production possibilities curve: a. The quality of education increases – Production possibilities will increase b. The number of unemployed workers increases – Production possibilities will decrease c. A new technique improves the efficiency of extracting copper from ore – Production possibilities will increase d. A devastating
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had a 1/64 chance of predicting six correct outcomes.” The author reaches the probability of 1/64 by multiplying the chances of predicting for each game. For example, in the article, Paul had a 1/2 chance of predicting the first game correctly, 1/4 chance of predicting the first two games, and 1/8 chance of predicting all the first three games. Because Paul the octopus only has 50% or 1/2 chance of predicting the winning team between the two options, we would just multiple another 50% or 1/2 to the
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ECN 502 Module 12 Practice Questions Managerial Economics 12.1. Which of the following factors can delay the entry of new competitive firms into the oligopoly market characterized by a dominant firm and some fringe firms? a. b. c. d. Mergers and acquisitions Price threat Brand name and reputation of the dominant firm Quality controls set by the government ANS: C The following matrix represents the payoffs to two producers, each making a strategic choice either to keep the output at 5
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totality may be measured in either the duration of time or the stipulation in regard to action. When ratifying service life, one should choose either the shorter of the physical life or the economic life. To break down the difference, the physical life concerns wear and tear in conjunction with adversity; and the economic life
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Sample Research Paper on Citizenship Introduction Citizenship is being defined as the relationship between the state and individuals. Historically citizenship is being inevitably linked with the state formation. Originally citizenship was denoting residence of people within protected walls of a city. Thus, whoever belonged to a community residing inside the boundaries was considered a citizen. Later this term has acquired a different meaning and the standards and definitions of citizenship have
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WEEK 1 – INTRODUCTION TO ORGANISATIONAL CHANGE Organisational change is an organisation’s response in process to external environmental changes. The pendulum of change: organisations will be at various stages, but desire to be on the OD side Organisational Focus vs. Organisational Transformational Focus OD – planned, long term, internal focus (strengthening the company for the future) (evolutionary) OT – unplanned, short term, reactive, external focus (revolutionary) Planned vs. Unplanned
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Poverty in Latin America Inequality: The Most Political and Economic Problem in Latin America Throughout the years, Latin America has experienced dramatic political, social, and economic changes amongst its numerous countries. As time went on, various leaders brought grand ideas to the table in hopes of bettering the region. However, in most cases, the outcome was far from grand, failing to address social conflicts that derived from deep inequality and high
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