Standard program evaluations implicitly assume that individuals are perfectly informed about the considered policy change and the related institutional rules. This seems not very plausible in many contexts, as diverse examples show. However, evidence on how incomplete information affects the...

The decision to become an entrepreneur is in essence an individual decision. But even when the endowments of inhabitants are taken into account, some regions have persistently higher entrepreneurship rates than others. Proposed explanations for this regional variation are numerous: market...