Similar Search Results

Why Are There Explicit Contracts of Employment?

James, Harvey; Johnson, Derek - EconWPA - 2002

In this paper we explain the prevalence of explicit contracts of employment, particularly those that embody high- rather than low-powered incentives and clauses that supersede the common law defaults. Our analysis is based on an understanding of two fundamental problems that arise when agency...

Persistent link: https://www.econbiz.de/10005076642

The Determinants of Property Rights In U.S. Marine Fisheries

Kincaid, Joel - EconWPA - 2003

Using a sample of fisheries managed under the Magnuson Act, a probit model of the probability of property rights adoption is estimated. The probability of adoption increases as ex–vessel revenue increases and as proxies for transaction costs decrease.

Persistent link: https://www.econbiz.de/10005076643

Transition in FSU and sub-Saharan countries: The role of institutions

Laurila, Juhani - EconWPA - 2002

sub-Saharan Africa. By widening the scope from most- to least-developed transition economies, the study establishes the …

Persistent link: https://www.econbiz.de/10005076830

Coasean economics and the evolution of marine property in Hawaii

kaiser, brooks; roumasset, james - EconWPA - 2004

The standard view that the absence of property rights is inefficient contradicts the Coasean proposition that the relative efficiency of different institutions depends on their ability to economize on transaction costs. Moreover, the comparative theory of open access and private property...

Persistent link: https://www.econbiz.de/10005135079

UNDERGROUND ACTIVITY AND INSTITUTIONAL CHANGE: PRODUCTIVE, PROTECTIVE AND PREDATORY BEHAVIOR IN TRANSITION ECONOMIES

Feige, Edgar L. - EconWPA - 2003

lowers transaction costs. In regimes of discretionary authority where formal institutions conflict with informal norms …

Persistent link: https://www.econbiz.de/10005062456

A MESSAGE TO GORBACHEV:REDISTRIBUTE THE WEALTH

Feige, Edgar L. - EconWPA - 2005

The transition from a planned to a market oriented economy requires a complex amalgam of stabilization, liberalization and privatization policies. This paper outlines a combination of policies believed to be necessary, if not sufficient to enlist the efficiency of market mechanisms along with a...

Persistent link: https://www.econbiz.de/10005062463

The Inequality of Influence

Hellman, Joel; Kaufmann, Daniel - EconWPA - 2003

This paper develops a proxy measure of the inequality of influence on the basis of survey evidence from 2002 Business Environment and Enterprise Performance Survey (BEEPS) conducted among 6,500 firms in 27 transition countries. We refer to the resulting inequality as crony bias in the political...

Persistent link: https://www.econbiz.de/10005407672

Are Oligarchs Productive? Theory and Evidence

Gorodnichenko, Yuriy; Grygorenko, Yegor - EconWPA - 2005

This paper develops a partial equilibrium model to account for stylized facts about the behavior of oligarchs, politically and economically strong conglomerates in transition and developing countries. The model predicts that oligarchs are more likely than other owners to invest in productivity...

Persistent link: https://www.econbiz.de/10005407700

Globalization and Domestic Conflict

Garfinkel, Michelle R.; Skaperdas, Stergios; … - EconWPA - 2005

We examine how globalization affects trade patterns and welfare when conflict prevails domestically. We do so in a …'). Thus, conflict is viewed as ultimately stemming from imperfect property-rights enforcement. When comparing autarky with … conflict. We find that importers of the contested resource gain unambiguously. By contrast, exporters of the contested resource …

Persistent link: https://www.econbiz.de/10005408071

A law & economics approach to the study of integrated management regimes of estuaries

Griendt, Wim van de - EconWPA - 2004

In this paper it is proposed to analyse legal regimes for integrated management of estuaries with the help of institutional legal theory and the Schlager & Ostrom framework for types of ownership. Estuaries are highly valued and valuable and therefore need protection. The problem is that they...

Persistent link: https://www.econbiz.de/10005412514