Similar Search Results

De Facto and De Jure Property Rights : Land Settlement and Land Conflict on the Australian, Brazilian and U.S. Frontiers

Alston, Lee J. - 2010

We present a conceptual framework to better understand the interaction between settlement and the emergence of de facto … depending on the violence potentials of de facto and de jure claimants. We examine land settlement and conflict on the frontiers … relatively peaceful where claimants have reasons to organize collectively (Australia and the U.S.). The settlement process will …

Persistent link: https://www.econbiz.de/10013151034

The Colonial Origins of Comparative Development : An Empirical Investigation

Acemoglu, Daron; Johnson, Simon; Robinson, James A. - 2021

We exploit differences in the mortality rates faced by European colonialists to estimate the effect of institutions on economic performance. Our argument is that Europeans adopted very different colonization policies in different colonies, with different associated institutions. The choice of...

Persistent link: https://www.econbiz.de/10013236802

"Rain Follows the Plow" and Dryfarming Doctrine : The Climate Information Problem and Homestead Failure in the Upper Great Plains, 1890-1925

Hansen, Zeynep K.; Libecap, Gary D. - 2021

In the late 19th and early 20th centuries, the North American agricultural frontier moved for the first time into semi-arid regions where farming was vulnerable to drought. Farmers who migrated to the region had to adapt their crops, techniques, and farm sizes to better fit the environment. But...

Persistent link: https://www.econbiz.de/10013229090

Cream Skimming in Financial Markets

Bolton, Patrick - 2011

We propose an equilibrium occupational choice model, where agents can choose to work in the real sector (become entrepreneurs) or to become informed dealers in financial markets. Agents incur costs to become informed dealers and develop skills for valuing assets up for trade. The financial...

Persistent link: https://www.econbiz.de/10013129218

Differences of Opinion and International Equity Markets

Dumas, Bernard - 2011

We develop an international financial market model in which domestic and foreign residents differ in their beliefs about the information content in public signals. We determine how informational advantages by domestic investors in the interpretation of home public signals impact equity markets....

Persistent link: https://www.econbiz.de/10013130709

A Simple Test of Private Information in the Insurance Markets with Heterogeneous Insurance Demand

Gan, Li - 2011

A positive correlation between insurance coverage and ex post risk can be an indicator for private information in insurance markets. However, this test fails if agents have heterogeneous risk attitudes. We propose a new test that conditions on unobserved types of individuals who differ in their...

Persistent link: https://www.econbiz.de/10013130968

Kosher Pork

Drazen, Allan - 2011

Both conventional wisdom and leading academic research view pork barrel spending as antithetical to responsible policymaking in times of crisis. In this paper we present an alternative view. When agents are heterogeneous in their ideology and in their information about the economic situation,...

Persistent link: https://www.econbiz.de/10013131672

Composition of Capital Flows : A Survey

Kirabaeva, Koralai - 2010

We survey several mechanisms that explain the composition of international capital flows: foreign direct investment, foreign portfolio investment and debt flows (bank loans and bonds). We focus on information frictions such as adverse selection and moral hazard, and exposure to liquidity shocks,...

Persistent link: https://www.econbiz.de/10013136735

Competition and the Ratchet Effect

Charness, Gary - 2010

In labor markets, the ratchet effect refers to a situation where workers subject to performance pay choose to restrict their output, because they rationally anticipate that firms will respond to higher output levels by raising output requirements or cutting pay. We model this effect as a...

Persistent link: https://www.econbiz.de/10013138400

Overcoming Informational Barriers to International Resource Allocation : Prices and Group Ties

Rauch, James E. - 2012

Incomplete information in the international market creates difficulty in matching agents with productive opportunities and interferes with the ability of prices to allocate scarce resources across countries. Resource-price differentials may not be eliminated and domestic resource supplies may...

Persistent link: https://www.econbiz.de/10013115612

1
2
3
4
5
6
7
8
9
10
Next
Last