Suppose, we replace "knowledge" by "belief with probability p" in standard definitions of common knowledge. Very different notions arise depending on the exact definition of common knowledge used in the substitution. This paper demonstrates those diffrences and identifies which notion is...

I analyze observed choice between lotteries from an outcome-oriented point of view in the framework of choice between random variables. I characterize a choice maker, who faces a choice situation between lotteries, by (1) a surmising process that associates, with a pair of lotteries, a set of...

Human development, in combination with technology, yields economic growth which, in turn, is necessary to generate further advances in human development. This paper focuses on the first channel above and finds the relationship significant. Secondly, the paper tries to investigate what affects...

Self-selection into healthcare options on the basis of severity likely biases estimates of the effects of healthcare choice on health outcomes. Using an instrumental variables strategy which exploits exogenous variation in the cost of formal-sector care, we show that using such care to treat...

I show how abundant land and scarce labor shaped African institutions before colonial rule. I present a model in which exogenous suitability of the land for agriculture and endogenously evolving population determine the existence of land rights, slavery, and polygyny. I then use cross-sectional...

There is an emerging consensus among macro-economists that differences in technology across countries accounts for the major differences in per-capita GDP and the wages of workers with similar skills across countries. Accounting for differences in technology levels across countries thus can go a...

This paper explores thelinks between economic growth and human development, identifying two chains, one from economic growth to human development, the other, from human development to economic growth. The importance of various links in each chain are explored empirically with the help of...

This paper raises the question whether the current wave of macro-economic and structural reforms in Latin America should be viewed as a decisive change in the Continent's long-term development strategy or as part of but another stop-go cycle for which the Continent has been known in the past.

This paper introduces habit formation into an otherwise standard model of international trade. Household tastes evolve over time to favor foods consumed as a child. The opening of trade causes preferred goods to rise in price, as these were relatively inexpensive in autarky. Neglecting the...

This paper explores the links between economic growth and human development, identifying two chains, one from economic growth to human development, the other, from human development to economic growth. The importance of various links in each chain are explored empirically with the help of...