Oliver Williamson argues that a principal will only trust an agent when there are safeguards to ensure the agent has an incentive for trustworthiness (Williamson, O. E. [1993]. Calculativeness, trust, and economic organization. <italic>The Journal of Law and Economics, 36</italic>, 453-486). However, such...

We hypothesize that an increase in the economic pressures a farmer feels could result in that farmer being more tolerant of unethical conduct than farmers not experiencing economic pressures. To test this hypothesis, we use data from a survey of 3,000 Missouri farmers with farm sales in excess...

We analyze the problem of asymmetric information between buyers and sellers in cattle auctions, using the problem of revaccinations as the point of departure. We present a simple model to show that if buyers do not know and cannot verify whether sellers have vaccinated their animals, then they...