The current research emphasis on institutions as key determinants of economic performance, rather than on resources and resource productivity, has uncovered important questions for further research. For example, if institutions are central to economic performance, then what explains observed...

Institutions either promote or constrain economic performance, but which parts of institutions advance or restrict performance, and why do economies sharing similar institutions sometimes perform differently? This paper is a modest attempt at addressing a small part of these questions. It...

In this paper we explore the possibility, heretofore unexplored in the marketing literature, that firms “invest funds” in their pricing processes. This builds on some of the recent economic work on the costs of price adjustment. To do this we undertook a two-year, cross- disciplinary,...

The current research emphasis on institutions as key determinants of economic performance has uncovered important questions for further research. For example, if institutions are central to economic performance, then what explains observed differences in performance across parts of one economy...

Institutions either promote or constrain economic performance, but which part of institutions does so, and why do economies sharing similar institutions sometimes perform differently? This paper applies a novel model that is capable of separating infrastructural and superstructural effects of...