We analyze a model in which agents’ decisions to enter or exit investments are influenced from their individual and external parties’ transaction histories. Actual investment outcomes are unknown to all participants until the end of decision periods, but outcomes do change depending on the...

Using the principal-agent- supervisor paradigm, this paper examines the occurrence of collusion in a setting where the principal has no information about the supervisor and the agent does not necessarily know the supervisor’s preferences. We formally prove the occurrence of collusion is more...

The globalized Western culture of innovation, as propagated by major aid institutions, does not necessarily lead to empowerment or improvement of the well-being of the stakeholders. On the contrary, it often blocks viable indigenous innovation cultures. In African societies and African Diasporas...

This paper has four main objectives: (1) to monitor the rise of poverty and income inequality during the first decade of Russian transition; (2 to analyze the performance of the welfare state in reducing poverty and income inequality; (3) to identify the most vulnerable groups of transition; and...

This article is based on field studies in rural West Africa. It concentrates on the socio-structural effects of development aid in the long run, in contrast to numerous available evaluation reports on the short-run effects of development projects. The study reveals that superficial...

Measures of preferences are primarily useful in that they are helpful in predicting behavior. We perform an experiment which demonstrates that the timing of the measurement of social preferences can affect such a measure. Researchers often measure social preferences by posing a series of...