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• Consider a version of the property‐right model studied in class involving a buyer (Simon) and a seller (Jonny). The timing of the game is as follows. Initially the parties cannot write a contract on investment or on sharing surplus.

Consider a version of the property‐right model studied in class involving a buyer (Simon) and a seller (Jonny). The timing of the game is as follows. Initially the parties cannot write a contract on investment or on sharing surplus.

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Consider a version of the property‐right model studied in class involving a buyer (Simon) and a seller (Jonny). The tim...

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