In this paper, we develop an account of the endogenous failure of private market-governance institutions to maintain market order by highlighting how their distributional function limits their regulatory capacity. We examine the New York Clearing House Association (NYCHA), a private...

Identity movements rely on a shared we-feeling amongst a community of participants. In turn, such shared identities are possible when movement participants can self-categorize themselves as belonging to one group. We address a debate as to whether community diversity enhances or impedes such...

Global economic transactions such as foreign direct investment must extend over an institutional abyss between the jurisdiction, and therefore protection, of the states involved. Intergovernmental organizations (IGOs), whose members are states, represent an important attempt to span this abyss....

Competing organizations are often defined by their niche overlap or structural equivalence in resource dependence, but the very structure that defines competitors can also identify cooperators. There is a fine line between competition and cooperation, but current theories give insufficient...

This paper compares the function of public vs. private institutions and studies conditions that influence their effectiveness. We use the population of commercial banks in Manhattan from 1840 to 1980 and investigate the impact of banks "participation in the New York Clearing House Association,...

Extant research recognizes that firms exploit regulatory variations to their advantage but depicts such regulatory arbitrage as a dyadic process between firms and regulators. We extend this account by including the political rivals of a firm and suggest that firms view regulatory differences as...

We exploit a historical setting that offers an unusually clean test of the relationship between asset ownership and management incentives: captain ownership of vessels engaged in transatlantic shipping during the 18th century. Although contingent compensation aligned incentives between captains...