We consider a continuum of agents in a transition country where the transfer of property rights has occurred. The transition is in progress and the nature of the government's future policies is unknown to the agents. Agents believe that the present government can evolve into one of two types: a...

Political Uncertainty and Crime in Transition Economies Two stylized facts are often used to characterize the economies in transition: an increase in the crime level and frequent government changes, where the party in power is replaced by another party with a different, and often opposite,...

We investigate the claim made by proponents of the big-bang strategy that the establishment of property rights in an economy in transition creates its own demand for the enforcement of laws to protect those rights. Our model contains a government engaging in activities to accomplish objectives...

Two stylized facts are often used to characterize the economies in transition: an increase in the crime level and frequent government changes, where the party in power is replaced by another party with a different, and often opposite, ideological orientation. We investigate the impact on agents'...

We investigate the claim made by proponents of the big-bang strategy that the establishment of property rights in an economy in transition creates its own demand for the enforcement of laws to protect those rights. Our model contains a government engaging in activities to accomplish objectives...