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For nearly three centuries, Indigenous peoples within the borders of present-day Canada engaged in treaty-making with the British Crown and other European powers. These treaties regularly formed the colonial legal basis for access to Indigenous lands. However, treaties were not negotiated...
Persistent link: https://www.econbiz.de/10014372470
We develop a tractable framework for the analysis of the relationship between contractual incompleteness, technological complementarities, and technology adoption. In our model a firm chooses its technology and investment levels in contractible activities by suppliers of intermediate inputs....
Persistent link: https://www.econbiz.de/10012467327
other projects or substitute one project for another. We develop a model based on the property-rights theory of the firm …
Persistent link: https://www.econbiz.de/10012467392
Current and expected job tenure have fallen significantly over the last two decades. Over the same period, traditional defined benefit pensions, designed to reward long tenure, have become steadily less common. This paper uses a contract-theoretic matching model with moral hazard to explain...
Persistent link: https://www.econbiz.de/10012467976
comparative statics. The model provides a simple dynamic theory of security design and optimal capital structure …
Persistent link: https://www.econbiz.de/10012468076
This paper evaluates the importance of property rights institutions', which protect citizens against expropriation by the government and powerful elites, and contracting institutions', which enable private contracts between citizens. We exploit exogenous variation in both types of institutions...
Persistent link: https://www.econbiz.de/10012468763
We propose a theory of international agreements on product standards. The key feature of the model is that agreements … general incomplete-contracting theory of trade agreements …
Persistent link: https://www.econbiz.de/10012469169
Insurance affects the variability of consumption over time, which is not captured in standard expected utility of wealth models. We develop a consumption-utility model that shows how liquidity constraints and borrowing costs impact the value of insurance. Liquidity constraints generate high...
Persistent link: https://www.econbiz.de/10012480646
receive reduced sanctions. We replicate the strategic environment described by Landeo and Spier (2018). In theory, the optimal …
Persistent link: https://www.econbiz.de/10012480745
This paper studies the design of enforcement policies to detect and deter harmful short-term activities committed by groups of injurers. With an ordered-leniency policy, the degree of leniency granted to an injurer who self-reports depends on his or her position in the self-reporting queue. By...
Persistent link: https://www.econbiz.de/10012480746