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@WEschenbach There are two classic papers that might clear it up more: Buchanan/Stubblebine 1962: “Externality”; if you have JSTOR access you can get it there, otherwise you would have to buy it: https://t.co/QdqCZRpDyT That’s the “classic” definitional p
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RT @ThomasVConti: Esta semana faleceu um grande autor do movimento Direito e Economia, Harold Demsetz. Suas contribuições para a teoria do…