We model decisions with respect to formality or informality for entrepreneurs in a newindustry for a developing economy. We show that informality allows a leader to explore,without significant sunk costs, the potential profitability of the industry; that is, informality maybe a stepping stone,...

Profit without transparency -- Possibilities and opportunities -- The secret power of attorney -- No law, no crime -- Halliburton's hidden Treuhand : fleecing the American taxpayer? -- Shock and awe : Iraq- Halliburton's subsidiary -- Reassessing Halliburton -- Zero transparency with Treuhand...