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A change in the legal statute may be able to force an equilibrium if it leads to a new equilibrium which implies some revised belief which sustains the equilibrium. Tirole (1996) developed a model to study group reputation and demonstrated that an anticorruption programme of sufficient duration and severity can play in switching an economy from high corruption with sustained belief it to one with low corruption and sustained belief for it. This shift has wide spread impact on all most all the sectors of the economy.
how wage increase of fixed income groups'' will affect the overall economy? what are effects exactly?
The ABC corporation is contemplating purchasing a new computer system that would yield a before-tax return of 30 percent. The system depreciates at 10 percent a year. The after-tax
The other type is called ex-post heterogeneity which refer to the conflict (of interests) arising due to distributional implications of the public policy. Thus when a public polic
Alice and Bob survive on hamburgers and salads. Aliceís utility function is UA = hA(sA 1) where hA and sA are her consumption of hamburgers and salads respectively. Bobís utility
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which fallacies best diiscribe this statement The restaurant in new is either buddy''s bistro or Clyde emporium
Question 1: ‘Public Relations professionals must understand how public opinion is formed, how it evolves from people's attitudes, and how it is influenced by communication.' D
Q. Is Heterogeneity the sole cause of conflict of interests? Explain heterogeneity as a cause of variation of aspirations of agents leading to formation of various special inte
Problem 1: i) According to you the Central Electricity Board in Mauritius operates in which type of market structure? Justify your answer. ii) Compare and contrast a perfe
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