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Arruñada, Benito - Department of Economics and Business, Universitat … - 2005

This essay reviews some findings in cognition sciences and examines their consequences for the analysis of institutions …, causing it to be potentially maladapted in important dimensions. A main function of institutions is therefore to fill the gap …-gatherers. Moreover, institutions are built with the available elements, which include our instincts. A deeper understanding of both …

Persistent link: https://www.econbiz.de/10005772172

A foundation for strategic agenda voting

Apesteguia, Jose; Ballester, Miguel; Masatlioglu, Yusufcan - Department of Economics and Business, Universitat … - 2012

We offer complete characterizations of the equilibrium outcomes of two prominent agenda voting institutions that are … equivalently the Euro-Latin procedure. Our axiomatic approach provides a proper understanding of these voting institutions, and …

Persistent link: https://www.econbiz.de/10009493739

Judicial presence and rent extraction

Litschig, Stephan; Zamboni, Yves - Department of Economics and Business, Universitat … - 2008

We estimate the effect of state judiciary presence on rent extraction in Brazilian local governments. We measure rents as irregularities related to waste or corruption uncovered by auditors. Our unique dataset at the level of individual inspections allows us to separately examine extensive and...

Persistent link: https://www.econbiz.de/10005572650

The donor problem

Abbink, Klaus; Ellman, Matthew - Department of Economics and Business, Universitat … - 2004

Donors often rely on local intermediaries to deliver benefits to target beneficiaries. Each selected recipient observes if the intermediary under-delivers to them, so they serve as natural monitors. However, they may withhold complaints when feeling unentitled or grateful to the intermediary for...

Persistent link: https://www.econbiz.de/10005772176

Aggregate consequences of limited contract enforceability

Cooley, Thomas; Marimon, Ramon; Quadrini, Vicenzo - Department of Economics and Business, Universitat … - 1999

We study a general equilibrium model in which entrepreneurs finance investment with optimal financial contracts …

Persistent link: https://www.econbiz.de/10005772132

The implicit theory of historical change in the work of Alan S. Milward

Guirao, Fernando; Lynch, Frances M. B. - Department of Economics and Business, Universitat … - 2011

on the ability of state institutions to respond to changing political demands from within each society. State … society was different there was no single model of development to be adopted or which could be imposed successfully by one … nation-state on others, either through force or through foreign aid programs. Nor could development be promoted simply by …

Persistent link: https://www.econbiz.de/10009351453

On the impact of microcredit: Evidence from a randomized intervention in rural Ethiopia

Tarozzi, Alessandro; Desai, Jaikishan; Johnson, Kristin - Department of Economics and Business, Universitat … - 2013

We use data from a randomized controlled trial conducted in 2003-2006 in rural Amhara and Oromiya (Ethiopia) to study the impacts of the introduction of microfinance in treated communities. We document that borrowing increased substantially in locations where the programs started their...

Persistent link: https://www.econbiz.de/10010734432

Biased representation of homothetic preferences on homogeneous sets

Menestrel, Marc Le; Lemaire, Bertrand - Department of Economics and Business, Universitat … - 2004

In the homogeneous case of one-dimensional objects, we show that any preference relation that is positive and homothetic can be represented by a quantitative utility function and unique bias. This bias may favor or disfavor the preference for an object. In the first case, preferences are...

Persistent link: https://www.econbiz.de/10005704864

Additive utility with intransitive indifference and without independence: A homogeneous case

Menestrel, Marc Le; Lemaire, Bertrand - Department of Economics and Business, Universitat … - 2002

In the homogeneous case of one type of goods or objects, we prove the existence of an additive utility function without assuming transitivity of indifference and independence. The representation reveals a positive factor smaller than 1 that infuences rational choice beyond the utility function...

Persistent link: https://www.econbiz.de/10005704870

Biased quantitative measurement of interval ordered homothetic preferences

Menestrel, Marc Le; Lemaire, Bertrand - Department of Economics and Business, Universitat … - 2004

We represent interval ordered homothetic preferences with a quantitative homothetic utility function and a multiplicative bias. When preferences are weakly ordered (i.e. when indifference is transitive), such a bias equals 1. When indifference is intransitive, the biasing factor is a positive...

Persistent link: https://www.econbiz.de/10005827451