We develop an economic theory of tolerance where styles of behaviour are invested with symbolic value. Value systems …'s lifestyles and tolerance. Under uncertainty, an open mind performs like an insurance against the risk of suffering a large loss … in self-esteem when adult. From another angle, tolerance makes people capable of fully exploiting market opportunities …

This paper investigates the effect of corruption on competition in government procurement auctions. Our assumption is … corruption is to facilitate collusion in price between firms. This can result in high public spending and inefficient allocation … which unilateral anti-corruption controls may restore price competition. …

fraud, or corruption - that share with cartels the crucial features that well designed leniency and whistleblower programs …

We consider a neoclassical growth model with endogenous corruption. Corruption and wealth, which are co-determined in … corruption, and if indeed as suggested by a number of empirical studies corruption hampers growth, then how did rich countries … relatively closed economies of the 19th century, the gains from corruption remained inside the country and became part of the …

when designing anti-corruption policy. …