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  2. econlaw2020-21 lecture 3-market failure and behavioural economics - …

    https://www.cl.cam.ac.uk/teaching/2021/EconLaw/econlaw2020-21-lecture-3.pdf
    14 Oct 2020: 1. Overview• Market failure:. – The business cycle– Recession and technology– Trade– Public and club goods– Information Asymmetry. • ... Why? 23. Behavioural economics. • Classical economics: Assumption that individuals are rational: they

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