We examine how partners in vertical exchange relationships actually resolve disputes that are sufficiently serious to get lawyers involved. Reaching beyond the usual domain of organizational and management research we leverage findings from law and economics to offer a novel organizational...

In this paper, transaction cost is introduced into the general firm-level export behavior model. By so doing, we build a theoretical model explaining how connection modes between leading agribusiness enterprises and rural households affect the firm-level agricultural products export. Analyzing...

Chapter written for the Handbook of Reciprocity, Gift-Giving and Altruism

A full array of frequently asked questions and their Shari’ah approved answers in today’s modern Islamic Economics, Finance, and Banking.

When Court enforcement is excessively difficult or costly, agents are often able to create «endogenous enforcement mechanisms», that is, to design agreements so that each party finds it optimal to carry them out (self-enforcing implicit contracts), thanks to the threat of sanctions affecting...

This dissertation is a collection of three independent research papers and three chapters with surveys introducing into the respective literature. The first paper analyses the effects of introducing Inequity Aversion in a Moral Hazard Problem, the second paper is about optimal delegation in...

Following Kreps (1979), we consider a decision maker with uncertain beliefs about her own future taste. This uncertainty leaves the decision maker with preference for flexibility: When choosing among menus containing alternatives for future choice, she weakly prefers larger menus. Existing...

Most economic models are based on the self-interest hypothesis that assumes that all people are exclusively motivated by their material self-interest. In recent years experimental economists have gathered overwhelming evidence that systematically refutes the self-interest hypothesis and suggests...

This paper surveys recent experimental and field evidence on the impact of concerns for fairness, reciprocity and altruism on economic decision making. It also reviews some new theoretical attempts to model the observed behavior.

Over the past 20 years, at least 267 people have been killed in one factory fire after another in the suburbs of Dhaka, Bangladesh. In a recent factory fire in Ashulia, there was no fire prevention management in place to protect human life. There are virtually no economic studies concerning...