Institutional reforms and their contribution to development and growth have been a source of renewed interest as well as of many challenges over the last two decades. Identifying the forces that push towards reform and the conditions that determine the success or failure of reforms, building...

How are extra costs resulting from the occurrence of unanticipated risks allocated in a procurement setting? This paper develops a theoretical framework combining transaction cost economics with equity theory in order to explain why parties endorse cooperative strategies, basically a 50-50...