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The literature on excess entry shows that the free-entry equilibrium number of firms may be greater than is socially optimal and proposes government entry regulation as a remedy. This article tries to show that such a policy recommendation is misleading. A two-period, three-person entry game...
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We investigate situations in which players make costly contributions as group members in a group conflict, and at the same time engage in contest with fellow group members to appropriate the possible reward. We introduce within group power asymmetry and complementarity in members'efforts, and...
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