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Motivated by tropical deforestation, we analyze (i) a novel theory of resource extraction, (ii) the optimal conservation contract, (iii) when the donor prefers contracting with central rather than local governments, and (iv) how the donor’s presence may induce institutional change....
Persistent link: https://www.econbiz.de/10010531820
Motivated by tropical deforestation, we analyze (i) a novel theory of resource extraction, (ii) the optimal conservation contract, (iii) when the donor prefers contracting with central rather than local governments, and (iv) how the donor's presence may induce institutional change. Deforestation...
Persistent link: https://www.econbiz.de/10010515399
Motivated by tropical deforestation, we analyze (i) a novel theory of resource extraction, (ii) the optimal conservation contract, (iii) when the donor prefers contracting with central rather than local governments, and (iv) how the donor’s presence may induce institutional change....
Persistent link: https://www.econbiz.de/10011273091
The paper applies the notions of network cost and efficiency, drawn from complex network theory, to fully characterize the classic “market versus firm” dichotomy of Coase 1937. Thanks to network analysis, the latter emerges as a wider issue which touches every system of interconnected agents...
Persistent link: https://www.econbiz.de/10013131544
Persistent link: https://www.econbiz.de/10010797762
When there are three parties, it is well known that the Coase Theorem may not hold even when there are no transaction costs, due to the emptiness of the core of the corresponding cooperative game [Aivazian and Callen (1981)]. We show that the standard Coasean bargaining game involving three...
Persistent link: https://www.econbiz.de/10011107924
Why do firms delegate job design decisions to workers, and what are the implications of such delegation? We develop a … private-information based theory of delegation, where delegation enables high-ability workers to signal their ability by … delegation: when market observability of job content is high, the compensation needed to get low ability workers to self-sort is …
Persistent link: https://www.econbiz.de/10005123930
This paper reviews the revisions to the data communications parts of the International telecommunications Regulations adopted at this conference. These two bedrock normative rules: 1) open interconnection of devices of all kinds; and 2) resale and sharing of dedicated facilities allowed many...
Persistent link: https://www.econbiz.de/10014123691
We develop a theory of economic organization grounded in the naturalistic paradigm currently emerging at the intersection of biology and the behavioral and social sciences. The crux of this approach is the recognition that an understanding of the evolutionary origins of human organizational...
Persistent link: https://www.econbiz.de/10010678978
encompasses many economic models with externalities and outside options. We show that when outside options are pure (i …
Persistent link: https://www.econbiz.de/10011324948