This paper assesses trade-offs between carbon sequestration and farmers’ incomes from land-use systems implemented in a community-based project, in Mozambique. Systems either focus on carbon sequestration or combine sequestration with cash crop cultivation. The latter provide carbon payments...

The standard property-rights theory of the firm assumes that prior to investing in human capital, team members meet and negotiate asset ownership. This paper endogenizes the event sequence in a matching model of market equilibrium. Equilibria exist in which, for strategic and efficiency reasons,...

This article examines the links that have recently been studied between poverty, high fertility and undernourishment, on the one hand, and degradation of the local environmental-resource base and civic disconnection, on the other, in poor countries. An account is offered of a number of pathways...

This paper develops a simple model to show how social insurance affects the desire to revolt against property rights. It then tests for the effect of social insurance on revolt by introducing a panel data set derived from surveys across 200,000 randomly sampled individuals from the 1970s to the...

Although property rights are the cornerstone of capitalist economics, throughout history existing claims have been frequently overturned and redefined by revolution. A fundamental question for economists is what makes revolutions more likely to occur. A large literature has found contradictory...

The rapid transformation of urban socio-spatial landscape in China has resulted in an increasing degree of frustration and discontent among local residents who face threats of demolition and eviction. This has given rise to sporadic protests by local residents who are often known as ‘nail...

This paper studies the effect of ownership structure on workers’ incentives for investing in firm-specific human capital. Particularly, we analyse such incentives and monitoring under employee ownership and capitalist ownership. In our model, the employee-owned firm is a firm bought by its...

Institutions that serve the interests of an elite are often cited as an important reason for poor economic performance. This paper builds a model of institutions that allocate resources and power to maximize the payoff of an elite, but where any group that exerts sufficient fighting effort can...

Most natural resources that are used in production are non-renewable. When they become depleted they are lost for future use. Does it follow that the limited availability of natural resources will at some time in the future constrain economic growth as many environmentalists believe? While...

We use new data to examine the effects of giant oilfield discoveries around the world since 1946. On average, these discoveries increase per capita oil production and oil exports by up to 50 percent. But these giant oilfield discoveries also have a dark side: they increase the incidence of...