The paper studies a generic bilateral trade model with relationship-specific investments. Only the seller invests, and subsequent trade becomes inefficient if his investments are too low. We show that the seller may defect strategically under a fixed-price contract even though he attains any...

This paper presents an analysis of expenditure on food of households in Poland in the years 1999-2010. Since their level and dynamics can be used as a measure of well-being of society this process was used to examine internal social convergence of regions, in this case the voivodeships. The aim...

This paper presents an analysis of expenditure on food of households in Poland in the years 1999-2010. Since their level and dynamics can be used as a measure of well-being of society this process was used to examine internal social convergence of regions, in this case the voivodeships. The aim...