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Political stock markets have a long history in the United States. Organized prediction markets for Presidential elections have operated on Wall Street (1880-1944), the Iowa Electronic Market (1988-present), and TradeSports (2001-present). Proponents claim such markets efficiently aggregate...
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This paper investigates the role of induced innovation in the development of American agriculture from 1880 to 1980. The induced innovation hypothesis, most closely associated with the work of Yujiro Hayami and Vernon W. Ruttan, argues that successful economies develop technologies in accordance...
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