about the extent to which conventional arbitration decisions are fashioned as mechanical compromises of the parties' final … in the arbitration decisions, this evidence of mechanical compromise behavior should be viewed as characterizing the … overall operation of conventional arbitration mechanisms and not the behavior of individual arbitrators in any particular case …

are ineffectual, merely ratifying business-as-usual outcomes and doing little to improve the environment. But much of that …

The government contracts with a foreign firm to extract a natural resource that requires an upfront investment and … which faces price uncertainty. In states where profits are high, there is a likelihood of expropriation, which generates a … social cost that increases with the expropriated value. In this environment, the planner's optimal contract avoids states …

fixed investment. Particularly in Protestant regions, new construction shifted from religious toward secular purposes …

contracting friction is a lack of commitment regarding foreign debt and expropriation. We show that the political economy … frictions induce growth dynamics in a limited-commitment environment that would otherwise move immediately to the steady state …. In particular, greater political disagreement corresponds to a high tax rate on investment, which declines slowly over …