Theft is the major component of crime rates in Mexico City and its reporting remains low and stable even when the budget assigned to federal public security reached an increase of 202.23% in 2006-2010. We develop a utility maximization model that attempts to explain the incentives that...

The development of economic institutions characterizes economic growth and promotes efficiency. For example, formal credit institutions operate in the credit market in a more efficient way than informal money lenders because they are better in reducing costs associated with financial market...

The development of economic institutions characterizes economic growth and promotes efficiency. For example, formal credit institutions operate in the credit market in a more efficient way than informal money lenders because they are better in reducing costs associated with financial market...