Similar Search Results

The Market for Protection and the Origin of the State

Konrad, Kai A.; Skaperdas, Stergios - C.E.P.R. Discussion Papers - 1999

-profit entrepreneurs: kings, lords, or mafia dons. Though self-governance is best for the population, it faces problems of long …

Persistent link: https://www.econbiz.de/10005504400

Contracts as Threats: on a Rationale For Rewarding A while Hoping For B

Iossa, Elisabetta; Spagnolo, Giancarlo - C.E.P.R. Discussion Papers - 2011

Contracts often reward inefficient tasks and are not enforced ex post. We provide a new explanation based on the relationship between explicit contracts and implicit agreements, distinguishing the ex-ante decision to sign a contract from the ex-post decision whether to apply it. We show that it...

Persistent link: https://www.econbiz.de/10008854495

Isolated Capital Cities and Misgovernance: Theory and Evidence

Campante, Filipe; Do, Quoc-Anh; Guimarães, Bernardo - C.E.P.R. Discussion Papers - 2013

Motivated by a novel stylized fact -- countries with isolated capital cities display worse quality of governance -- we … ways: broader power sharing (associated with better governance) means that any rents have to be shared more broadly, hence … capital city allows the elite to appropriate a larger share of output, so the costs of better governance for the elite, in …

Persistent link: https://www.econbiz.de/10011084326

Corporate Governance

Tirole, Jean - C.E.P.R. Discussion Papers - 1999

The paper first develops an economic analysis of the concept of shareholder value, describes its approach and discusses some open questions. It emphasizes the relationship between pledgeable income, monitoring and control rights using a unifying and simple framework. The paper then provides a...

Persistent link: https://www.econbiz.de/10005666704

Club Enlargement: Early Versus Late Admittance

Burkart, Mike; Wallner, Klaus - C.E.P.R. Discussion Papers - 2000

We develop an incomplete contract model to analyse the enlargement strategy of a club. An applicant is characterized by his wealth and the degree of conformity with the club standard. The club gains only from a fully reformed new member, but reform is costly. The club chooses between early...

Persistent link: https://www.econbiz.de/10005791969