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Distortions in memory impose important bounds on rationality but have been largely disregarded in economics. While it is possible to learn, it is more difficult, and sometimes impossible, to unlearn. This retention effect lowers individual utility directly or via reduced productivity, and adds...
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The collapse of Lehman Brothers in 2008 ushered in a financial crisis whose ramifications are still being felt. Within the EU, collapse not only led to a change in regulatory rhetoric, emphasising the need to secure the stability of EU money markets, but also to a significant widening and...
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perspective the paper looks at the possibility to select optimal regulation by means of a cost benefit analysis. A major argument …This paper explores the feasibility to extend the Standard Cost Model (SCM) for calculating the costs of government … also to the monitoring costs of the regulators and to the residual loss. These latter costs can be regarded as cost to …
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