Many poor countries are plagued with growth-impeding institutions. We develop a three-sector general equilibrium model … terms of trade affect private agents’ incentive to coalesce to oppose the adoption of growth-promoting institutions. We show … adoption of growth-promoting institutions. Above this threshold, gains from coalescing disappear, fostering institutional …

Quebec and the fact that Franco-Americans were fairly successful in replicating the same educational institutions as the ones … made profound changes to its educational institutions, particularly in the post-secondary system, in the mid-to-late 60's …

-specific investments, impedes firms' access to formal financial institutions, and favours inefficient dynasties. Moving a firm from the …

under different information scenarios. We investigate a situation with two types who vary only in their external marginal … information on the type of the contributor is available. Low types, on the other hand, contribute only more when they are aware of … the distribution of types, but have no information on the type of the contributor. …

The concept of Ambiguity designates those situations where the information available to the decision maker is …? The present paper fills these gaps. Specifically, it identifies those information structures that are incompatible with … information. These are used to give a formal definition of Ambiguity and, consequently, to distinguish between ambiguous and …