example of a “delegation-scheme.” Conversely, project aid represents a more “centralized” type of aid. According to the theory …

example of a delegation-scheme." Conversely, project aid represents a more "centralized" type of aid. According to the theory …

' consists of unverifiable information and the quality of communication depends on the conflict of interests between the …

delegate more often than under verifiable effort costs. Moreover, we show that the benefit of communication between the … delegation may be preferred over truthful communication …

the countries' authorities, openness, and transparency, consistently with the theory …

their observation of quality before trade, provided that communication is part of their public track record. Such cheap …-talk communication, if trusted, allows market prices to reflect the actual value created, thus providing an immediate reward for the … seller's effort which complements the conventional, reputational incentives. Pre-trade communication achieves maximal …