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The implementation of projects producing external effects is often a source of disagreement and conflict between hosting and non-hosting communities. The paper focuses on the impact of participatory ownership on conflict resolution and social welfare in the presence of asymmetric information and...
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We revisit the contract-theoretic literature on privatization initiated by Hart et al. (1997). This literature has two major shortcomings. First, it is focused on ex-ante investment incentives, whereas ex-post inefficiencies which are ubiquitous in the real world cannot be explained. Second,...
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is increasing in its productivity, with the most productive multinationals choosing not to rely on a foreign partner at … direct investment ; multinational enterprise ; joint venture ; productivity …
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