Smith offers a third view: that Pentecostalism thrives because of the effects of competition.
But inefficiency and the cannibalising effects of competition combined to put three of the five, Transbrasil, VASP and VARIG, out of business.
Medical practice changes all the time, new drugs are introduced, so how can we select out the effects of more competition from the general improvement in the health service over time?
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Indeed, some research on the effects of the limited amount of competition recently allowed show that we do indeed see exactly the predicted effect.
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Now, though, the ABS is trying to fight off irrelevance, competition and the effects of years of misguided policies.
They believe it keeps players fresher over time, generates competition for places and mitigates the effects of injuries, suspensions and perhaps even individual players feeling indispensable.
Importantly, they find that the primary way that competition effects outcomes is by improving the performance of the nearby public schools, and not by outperforming the public schools.
Another driver of better management practice is competition, which has the strongest effects on the worst managed companies.
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The city's casinos continue to fight increased competition in neighboring states and were hurt by the after-effects of Superstorm Sandy, which kept some visitors away for months.
In recent years, the high costs of regulatory compliance associated with Sarbanes-Oxley and the effects of Dodd-Frank combined with a waning initial public offering (IPO) market and increasing global competition have limited the ability of smaller companies to access new capital through the public markets.
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Timothy Hannan and Robin Prager, both of the Federal Reserve, find that increased competition from multi-market institutions has had markedly different effects in rural and urban areas.
But the bigger point I want to draw from these studies is that while they both emphasize the positive impacts of school choice, they both focus on the direct effects which are not the most important benefits we would expect competition to bring.
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