Bad institutions are regularly blamed for poor economic performance, and Latin America is often used as the prime example of the potentially damaging effects of bad institutions on economic development. However, very little time-series analysis has been done to substantiate this claim, and in...

Today in the era of “Liberalisation, Privatisatisation and Globalisation”, the caliber of competition faced by engineering graduates in any discipline has become ecumenical in general and national in particular. Gone are the days, when jobs were available to engineering graduates either in...

We compare information design, or Bayesian persuasion, by uninformed and informed principals. We show that, under the assumptions of monotone preferences of the principal and nondegenerate information structures, a Pareto undominated outcome is implementable by the uninformed principal if and...

Comparative analysis of Marx and Schumpeter's views and vision on various aspects like Capitalism has greatly interested academicians. Their understanding of aspects like Capitalism’s creative destruction has been a matter of deliberation for many great scholars in the past. Technology today...

We study an economy with traders whose payoffs are quasilinear and their private signals are informative about an unobserved state parameter. The limit economy has infinitely many traders partitioned into a finite set of symmetry classes called types. It has a unique rational expectations...

Omnichannel firms regularly share information between their multiple channels (e.g., online vs. physical store), i.e., horizontal information sharing, to improve their operational and financial performance. As information often tends to be error-prone -- when it is collected, transmitted, or...

This paper explore the role of institutions to enhance the productivity growth across countries using a two stage Double Bootstrap Data Envelopment Analysis (DEA). The productivity growth is calculated on the basis of Malmquist productivity index. It also explores the sources of productivity...

Earlier works derive empirical implications that institutional quality is very influential as a source of comparative advantage in industries requiring relationship-specific investment from the supplier. However, as earlier studies focus on investigating the impact of institution on the...

Should choice be offered in social insurance programs? The paper presents a conceptual framework that identifies the key forces determining the value of offering choice, reviews some existing evidence on these forces, and aims to guide further empirical research in different in- surance domains....