simultaneously deter the state from abusing power while at the same time relying on it to discipline defectors in their midst. The …

investments power. Past literature emphasizes the allocation of ownership as the" primary mechanism by which the firm does this … access to critical resources. " Access can be better than ownership because: i) the power agents get from access is more … contingent" on them making the right investment; ii) ownership has adverse effects on the incentive to specialize. " The theory …