This paper analyses the Marxian theory of exploitation. A general axiomatic approach is developed which is appropriate to study the concept of exploitation - what it is and how it should be captured empirically. Two properties are presented that capture some fundamental Marxian insights. It is...

Subjective performance evaluation serves as a double-edged sword. While it can mitigate multitasking agency problems, it also opens the door to evaluators’ biases, resulting in lower job satisfaction and a higher rate of worker quits. Using the personnel and transaction records of individual...

This paper explores the role of state capacity in the comparative economic development of China and Japan. Before 1850, both nations were ruled by stable dictators who relied on bureaucrats to govern their domains. We hypothesize that agency problems increase with the geographical size of a...

Indonesia has long been a major producer of minerals for international markets. Starting in 2014, it implemented legislation banning exports of unprocessed minerals and requiring producers to invest in processing facilities to add more value before export. This paper establishes what light past...

Based on a four-year panel dataset of households collected in rural Pakistan, we examine the impact of an intervention on households’capacity to reduce income losses due to attacks by wild boars. A local NGO implemented the intervention as a randomized controlled trial at the beginning of the...