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The theory of competition as a discovery procedure argues that the results of this procedure cannot be predicted …
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game theory is used to explain the evolution of conventions and to point out their role in the reduction of transaction …
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This paper analyzes "property rights" from a Law and Economics viewpoint. It deals with the relation between "property rights" and allocative efficiency as well as with the protection of "property rights" through damages, liability rules or criminal law. Moreover, market failures (monopoly,...
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The churches in Germany are analyzed as multiproduct firms. Even though these enterprises raise their revenues in part through the tax system, they find themselves in a crisis: the number of customers is persistently decreasing. Starting with the idea that salvation is a scarce economic good,...
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