Open source software development has organizational characteristics that are out of the ordinary (e.g., flatter hierarchy, self-organization, self-regulation, and no ownership structure). The study suggests that this organization of work can be explained by combining the recently developed...

Most insurance premiums are only weakly linked to mileage, and have largely lump-sum characteristics. The probable result is too many accidents and too much driving from the standpoint of economic efficiency. This paper develops a model of the relationship between driving and accidents that...

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...

Based on the Business Environment and Enterprise Performance Survey (BEEPS) of firms in transition countries, which unbundles corruption to measure different types of corrupt transactions and provide detailed information on the characteristics and performance of firms, we find that: i)...

In this discussion draft, linking research findings with concrete operational challenges, we review key issues in worldwide governance, and present recent empirical evidence. Focusing on defining and unbundling key governance components, such as rule of law, voice and accountability, corruption...

The LoopCo Plan, which uses market mechanisms to promote competition, is the best approach to restructuring the telecommunications market, say its proponents, who object to the requirements and to-date implementation of the Telecommunications Act of l996. The local-loop's spin-off 's consumer...

El documento analiza la evolución del costo de uso del capital en el periodo 1997 –2003 en Colombia. A diferencia de los trabajos anteriores se construye una serie del costo de uso del capital a partir de la información suministrada por las empresas a la Superintendencia de Sociedades, lo...

During the 1990's, Mexico successfully implemented a program of economic reforms and free trade aimed at a complete restructuring of its economy. Surprisingly, the reform process seems to have had little impact on unemployment. An analysis of trends indicates that, even in the worst years of...

A number of papers in the theoretical auction literature show that the release of information regarding the seller’s valuation of an item can cause bidders to bid more aggressively. This widely accepted result in auction theory remains largely untested in the empirical literature. Recent...