Information technology (IT) tends to be viewed as ancillary to core government functions. Consequently, IT is often outsourced to the private sector. Unfortunately, there is a long line of failed outsourced projects. This article uses two New Zealand case studies, the particularly public failure...

With the rapid development of E-commerce, more and more E-commerce enterprises attach great importance to customer experience, and B2C E-commerce enterprises make no exception. The good customer experience can promote customers' perception of the service level of B2C E-commerce enterprises....

We consider a multi-asset discrete-time model of a financial market with proportional transaction costs as described by Schachermayer [7]. In this model, the set of all self-financing trading strategies contains for example trading strategies which consist of buying an asset and selling it at...

Larry Lessig flagellates himself about losing the Eldred case, which upheld the legality of copyright extensions. He shouldn’t: Eldred was unwinnable. (The Court’s 7-2 vote is one clue). Besides, the worst of the Sonny Bono Copyright Term Extension Act’s effects can still be made to...

Standard economic intuition of revealed preference implies that when two parties freely enter into a contract then neither should be worse off. In this study, we develop a simple model showing that introducing the opportunity to contract can lower welfare for some, and perhaps all, contracting...

The paper is based on the New Institutional Economic Theory, which emphasizes institutions as a vital component in the creation of wealth and economic growth. It is widely accepted that formal institutions change rapidly through political and legislative decisions. Informal institutions are...

Abstract This article reports on the results of a case study that examines the characteristics of the transaction between a plastic producer firm and its supplier of steel injection mold in order to explore the possible effects of asset specificity on the firm�s choice of the transaction...

Abstract Governments and international development agencies often fail in their efforts to build and reform property and company registries. They implement misguided policies rooted in a poor understanding of the role that registries play in the modern economy. This work aims to remedy this...

Abstract Urbanization is a process in which separated and dispersed property rights become concentrated in a specific location. This process involves a large volume of contracts to redefine and rearrange various property rights, producing various and high transaction costs. Efficient...