This dissertation analyzes the importance of institutions for economic performance. The first two chapters assess the importance of institutions empirically, while the last one provides a dynamic model of institutional change. Chapter 1 analyzes the robustness of institutions in growth...

People report much larger willingness to accept (WTA) than willingness to pay (WTP) under a broad range of circumstances. This dissertation tries to answer the question when people will report this gap, how large the difference between the two answers will be and what reasons lie behind this...